Starfire Holding Corporation c/o Icahn Associates Corp. 767 Fifth Avenue 47th Floor New York, New York 10153Letter Agreement • August 23rd, 2001 • Icahn Carl C Et Al
Reference is made to the letter agreement (the "Agreement"), dated as of September 29, 2000, between Bear, Stearns International Limited ("Bear Stearns") and Starfire Holding Corporation ("Starfire") (being Bear Stearns Reference Number NC-1348) pursuant to which Bear Stearns has the right to put to Starfire (the "Put Option") $10,095,000 principal amount of 11% First Mortgage Notes (the "Notes") due 2005 of GB Property Funding Corp. ("GBF") and 493,321 shares of common stock (the "Shares" and together with the Notes, the "Put Securities") of GB Holdings, Inc. ("GBH").
