The banks would pay Equity Residential an undisclosed breakup fee if the deal doesn't close.

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Or it could mean that EchoStar would be well advised to abandon Hughes, pay its breakup fee and continue on its own.

FORBES: Magazine Article

"Hughes will cry uncle, " says Clelend, perhaps forfeiting the breakup fee.

FORBES: Chief Executive Charles Ergen

The recent loss reflected a charge to cover the breakup fee for EchoStar's failed merger with rival Hughes Electronics (nyse: GMH - news - people ).

FORBES: Magazine Article

The so-called stalking horse bid could be topped by other suitors at the auction, in which case Apollo and Metropoulos would likely be entitled to what's known as a breakup fee.

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