WCI Likely To Be On The Hook For Another $125M

The brief 8-K filing simply states:

As WCI Communities, Inc. (the "Company") previously disclosed, a holder of the Company's $125.0 million 4.0% Contingent Convertible Senior Subordinated Notes due 2023 (the "Convertible Notes") will have the option to require the Company to repurchase the Convertible Notes at a price of 100 percent of the principal amount on August 5, 2008 (plus any accrued and unpaid interest), provided that such holder provides written notice to the Company from the opening of business on June 23, 2008 until the close of business on August 4, 2008. On June 25, 2008, the Company received notice that certain holders of the Convertible Notes intend to exercise this right.

Will this push them over the edge?