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Russell: Here is a summary of the ownership chain of Global Companies LLC: 1. Its members are Global Petroleum Corp. ("GPC"), YPF Distribution Company ("YPF") and Montello Oil Corporation ("Montello"). From what they sent to us, I could not tell the ownership percentages. 2. The affairs of Global are managed by a "Board of Governors" who are selected by the members. Specifically, GPC and Montello collectively get to choose 3 board members and YPF gets to choose 3 board members. I your credit worksheet, you had specified as a "MAC" trigger if YPF, SA fails to own at least 51% of Global Companies. Is this the same entity as YPF Distribution Company? Do you want this as a MAC or as an Additional Event of Default or Termination Event? Carol
Global Companies LLC