You have interpreted correctly.
Cool - thanks for the confirmation Ken. It looks like that is next weekend's project, along with trying to get the cover plate off the coin mech on that Vendo 59 I got from Bob so I can check out the mech. Head's up Tom - it might be coming your way for a refurb.
There's a couple of blobs of rust that used to be sheet metal screws that are blocking my progress at the moment. I have them soaking in PB Blaster, but I might just have to drill them out or cut the heads off with a dremel and use vice grips on the shaft. There isn't much of the actual screw head left on a couple of them.