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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: Thomas who wrote (6094)	5/9/1999 11:15:00 PM
From: RMiethe	Respond to of 10852

I did ask on who gets "first dibs" on that and have been told that instead of remitting the cash back to Orion, LOR can replace the cash Orion would have received with another GEOsat. The net effect is the same, only with a GEOsat being delivered two years later [in other words, interest payments would still be made, even though a GEOsat {Orion 3} was not generating the interest paying revenues. So long as the banks get their interest on the loan, till the debt comes due for final payment, they would not care what happened in the interim unless they thought they would never get paid because of events that occurred in the interim. Agreements prior to final disposition of the insurance proceeds then have to be satisfied all around, but I doubt that a replaced GEOsat would be objected to by any of the parties involved, least of all the banks. From what I understand, that is the direction Loral is going to take.