RE:RE:RE:RE:RE:In fact the word "pledged"
Maxmoe wrote: TheLandedEagles wrote: The value of those pledged reserves is limited to Cover the entire $15 MILLION...Similar to a mortgage on a property...
The other component is the formula to address further financing so not to impair the holders priority interest on that $15mm....
Oh dumphawk, Didn't you confirm it's a NEGATIVE PLEDGE? Let me guess. You have no idea what this term means. In simple terms, it means you don't promise ANYTHING. You promise NOT to do something unless you pass the covenant aka test. If you go offside LATER, that does NOT violate a negative pledge unless there is very specific allowance for that. There isn't. You should have given it up when you were ahead and said you were going away. Now it's embarrassing for you again.
Can I assume we are done discussing your interpretation of the regulations for private placements? Specifically what a "4 month hold" means? Totally embarrassing to be so wrong on that one, but you soldier on, just as wrong about the implications of the negative pledge. Take your own advice.
Think about you say and mean, before posting!!!!!!!!!!!!!!!!!
I'll add to this useful advice. Please make sure you understand what the terms mean before you start "thinking" about the implications.