VESFVirgo-EGO (European Gravitational Observatory) Scientific Forum
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The Agreement provides that until June 18, 2005, (i) the Company shall not redeem the Preferred Stock of the Company owned by VESF; (ii) VESF shall not sell or transfer the Preferred Stock; and (iii) the preferred dividend, currently at 12%, will be reduced to 200 basis points above one year LIBOR per annum.