RE:RE:RE:RE:RE:RE:RE:someone is STILL buying a lot of warrantsThis brings back head-banging-against-the-wall memories from when we were all trying to figure out the meaning of the Preferred A and B prospectuses before the restructuring.
The indenture says: the greater of (1) and (2). That means:
(1) or (2), whichever one is bigger
Really. That's what it means.
There is no significance whatsoever to the fact that the indenture uses the word "and" when you expected itto say "or".
In your reasoning, what is meant by the words "the greater of"? You are not allowing it to mean that two different numbers are compared and we take the bigger one. It seems to me that you aren't left with anything at all for those words to mean.