I used to be an investment banker on "The Street", working mostly in corporate finance specializing in secured debt. Many moons ago one of the lawyers we relied on for excellent papers and fine advice gave me the following humorous language (based on language for a paragraph in a Deed of Trust for secured debt documents) -->>
"47. End of the World. Upon the occurrence of the End of the World before full payment of the Notes and all other indebtedness secured hereby, the Notes and all other indebtedness shall, at Beneficiary’s option, become immediately due and payable and Beneficiary shall have all of the rights and remedies provided by this Deed of Trust or as otherwise available under applicable law or other forms of justice. For the purposes of exercising such rights and remedies, Beneficiary shall be deemed to be aligned with the forces of light and Trustor shall be deemed to be aligned with the forces of darkness, regardless of Trustor’s and Beneficiary’s actual ultimate destinations, unless and until Beneficiary shall elect otherwise in writing. "
We always enjoyed this and marking it up to include certain parties with the "forces of light" or "forces of darkness". By the way, Beneficiary is the lender and Trustor is the borrower - you can see that our lawyer represented the lenders :-))
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2 comments:
waz up K man? any thoughts on CAT? its the end of the world as we know, and i feel fine
;-)
Hi mern. I own some CAT - I like the big caps as they will get index fund buying support when rich people give up hedge funds. I think it's still basing and will move up strongly as the doomsayers capitulate. Looks like some big beefer mutual fund has been liquidating holdings since Mid December. I'll probably double up if it can set up a bullish continuation pattern.
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