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To: Rono who wrote (2346)	7/3/2002 11:33:11 AM
From: Pierre	Read Replies (1) \| Respond to of 2737

If indeed this has occurred, would not the new owners of that paper have input of any refinancing and not LU? Intersting question - do the covenants flow with the paper? I would think so, though perhaps there's some restrictive language in them. I could see the debtor wanting some protection in the event of resale of the paper. Pierre

To: Rono who wrote (2346)	7/3/2002 12:33:54 PM
From: pcstel	Read Replies (2) \| Respond to 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