Replies to post #265307 on Mr Cooper Group Inc (COOP)

[WithCatz]

Lebosco, she's asking them to execute 7.3 of the GSA, or if they don't, then THEY are letting the GSA expire per 7.3's language.

And the reason she's saying that, is she can't do a ruling by EOY, for "whatever" reason.

The "whatever" is being speculated on.

PDF Page #380
http://www.kccllc.net/documents/0812229/0812229101006000000000005.pdf  (WARNING! 1612 pages -- HUGE)


Section 7.3.
Termination of Agreement.
This Agreement may be terminated by any Party, at their sole option and discretion, in the event that (a) either the FDIC Board or the Board of Directors of WMI (or the Operations Committee thereof, if applicable) shall have failed to approve this Agreement by October 19, 2010, (b) any other Party hereto materially breaches any of the covenants set forth in Article V hereof or any of its other undertakings in this Agreement, or (c) the Confirmation Order is not entered by the Bankruptcy Court and the effective date of the Plan does not occur on or prior to December 31, 2010; provided, however, that, upon the joint instruction and notice provided by WMI and JPMC, and the consent of the Creditors’ Committee, the date set forth in subsection (c) above shall be extended up to and including January 31, 2011.

[michael laurino]

I think you hit the nail right on it's head!!!!

[gold-nugget]

where is that hammer as you hit it on the NAIL !!