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Technology Stocks : Leap Wireless International (LWIN)
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To: Rono who wrote (2346)7/3/2002 12:33:54 PM
From: pcstel  Read Replies (2) of 2737
 
That is interesting, I had not considered the sale of the vender financing debt to a third party. If indeed this has occurred, would not the new owners of that paper have input of any refinancing and not LU?

I believe the loan covenants require LU to hold a controlling interest in the vendor debt. If you think about it. If you were LU. Would you sell away your ability to control your future ability to make amendments to the facilities.

So in my opinion, a vulture type could not control anything by buying paper.

PCSTEL
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