That's an interesting take Kelsee.....I hadn't factored in the FA, but obviously it could play a role....but only if it comes out before the loan comes due.

If we get to Aug 28th...or close to that date, and there's still no FA out???  The loan matures on August 28th irrespective of whether or not the 125 MAC events have taken place.  I don't imagine Citibank is going to extend it for this contingency...but maybe they would. 

It could be one of those chicken and egg things....a new financing deal contigent on a thumbs up on futility, but the need for more $$$ to get to the FA.  As things currently stand, according to all the information I can find available in the public domain, the loan is fully payable on Aug 28th....$68.8 large, plus the past 12 months worth of interest...which I'll spitball around another $5 million. 

So on Aug 28th the company needs to come up with somehwere in and around $73/74 million....Maybe Citibank would be willing to extend that deadline for a few weeks or months?  If so I'm assuming there would be a fee attached of course....they've got a standby letter of credit from Eastern so there's no worry on Citi's part that they'll be left with a bad loan to write off.

Interested in any other thoughts....