Go towards the remaining phone balance. Almost certainly won't totally fulfill it. Whatever is left, that's your ETF. I mean, that's the type of wordplay that I think Paynefanbro may have been talking about. They can spin it, dress it up, do whatever with it, but it's still an ETF. And it's necessary, I understand that; they can't just eat that money, but call a spade a spade. I'm also really curious to see how T-mobile's idea of "fair market value" actually works out.
Apparently Washington's attorney general wasn't impressed with their wordplay either: http://www.eweek.com/networking/t-mobile-accused-by-attorney-general-of-misleading-consumers/