DataGridView - Custom Collection - Remove New Row

I have a custom collection that implements IBindingList.
When I click/tab onto a new row, the IBindingList.AddNew() method fires and
adds a new item into the collection.

At this point, if I click/tab off of the row, the RowValidating() method
fires and I check if ( row.IsNewRow == true && row.DataBoundItem == null ).
This tells me that no data has been attempted to be filled in for the row. I
consider this valid as I want to get off of the row.

What I want to do now is remove the item from the collection.
My question is HOW? I can't seem to find a reference to the item anywhere.

Thanks,
Dave