0DLQWHQDQFH,QVWUXFWLRQV
$'-8670(176
)6&1HXWUDO3DUN6ZLWFK
3ODFHWKH)6&LQ
1(875$/3$5.
SRVLWLRQ
$GMXVWVZLWFKWRWKHSRLQWZKHUHWKHVWDUWHUHQ
JDJHVZKHQWKHLJQLWLRQVZLWFKLVWXUQHGWRWKH
VWDUWSRVLWLRQ
$GMXVWVZLWFKSRVLWLRQIRUZDUGDQDGGLWLRQDO
WRWXUQRIWKHSDQHOQXWV
127(
,IWKHVZLWFKFDQQRWEHDGMXVWHGIRUZDUG
HQRXJK WR DFKLHYH SURSHU IXQFWLRQ LW PD\ EH
QHFHVVDU\WREHQGWKHVZLWFKPRXQWLQJEUDFNHW
VOLJKWO\
3726ZLWFKHV
:LWK WKH 372 HQJDJHG DGMXVW WZR VZLWFKHV
>W6HTXLSSHG@WRWKHSRLQWRIDFWLYDWLRQ
SOXVRUWZRWXUQVRIWKHSDQHOQXWV1RUPDOO\
WRLQPPWRPPRISOXQJHUWUDYHOZLOODF
WLYDWHWKHVHVZLWFKHV0DNHVXUHWKHVZLWFKHVDUH
DGMXVWHGVRWKHDFWXDWRUSODWH
LVQRW
ERWWRPLQJRXW
WKHSOXQJHUDQGVWULNLQJWKHVZLWFKERG\
%ODGH%UDNH
7KHPRZHUEODGHGULYHDQGEO6PRG
HOVLVHTXLSSHGZLWKDEUDNHV\VWHPWRVWRSEODGHV
ZLWKLQILYHVHFRQGVDIWHUGLVHQJDJLQJWKHFOXWFK
$EHOWVFUXEEHUEUDNHDFWLQJRQWKH372GULYHEHOW
SURYLGHVEUDNLQJDFWLRQ7KHEUDNHDFWLRQLVDGMXVW
HGE\
VSULQJLQJRUEHQGLQJWKHVFUXEEHUPRXQW
RQ*+6PRGHOVDQG
EHQGLQJWKHVFUXEEHU
RQ6'
PRGHOV,IWKHEUDNHV\VWHPPDOIXQFWLRQVEODGHV
GRQRWVWRSZLWKLQILYHVHFRQGVDGMXVWRUUHSDLU
WKHEUDNHDVIROORZV
%UDNLQJ$FWLRQ$GMXVWPHQW
6FUXEEHU%UDNH$GMX6
6FUXEEHU%UDNH$GMXVWPHQW6'
8VH³WULDODQGHUURU´WRDGMXVWVFUXEEHUEUDNLQJDF
WLRQDQGDFKLHYHDVWRSSLQJWLPHRIDSSUR[LPDWHO\
WRVHFRQGVDIWHUGLVHQJDJLQJFOXWFKZLWKIXOOWKURW
WOH
'RQRWH[FHHGILYHVHFRQGV
$YRLGKDYLQJ
WKHEUDNHVWRSWRRTXLFNO\DVWKLVZLOOUHGXFH372
GULYHEHOWOLIHEXUQVEHOW
$OVRFKHFNIRUDOLJQPHQWRIWKHEUDNHEDUVFUXEEHU
RQWKHEHOWDQGPDNHVXUHEDULV
RQO\FRQWDFWLQJ
WKHEDFNRIEHOW
DQGQRWWKHHGJHVRIWKHSXOOH\V
)RU*+6PRGHOVLWPD\EHQHFHVVDU\WRVSULQJWKH
EUDNHPRXQWEDUWRVKLIWDOLJQWKHEUDNHEDURQWKH
EHOWOLNHZLVHWKHVFUXEEHURQ6'PRGHOVLVEHQWIRU
DOLJQPHQWZLWKWKHEHOW
:$51,1*
,W LV LPSRUWDQW WR FKHFN DQG PDLQWDLQ
EODGH EUDNH DFWLRQ IRU VDIH RSHUDWLRQ RI
WKHPDFKLQH
'HVLUHG%UDNH
$FWLRQ
*+60RGHO
'LUHFWLRQRI
0RXQW%HQG
6'0RGHO
'LUHFWLRQRI
6FUXEEHU%HQG
6WURQJHU4XLFNHU
%HQG'RZQ
%HQG8S
:HDNHU6ORZHU
%HQG8S
%HQG'RZQ
%UDNH0RXQW%DU
6FUXEEHU%UDNH%DU
&RQWDFWLQJ%HOW
4XLFNHU
6ORZHU
6FUXEEHU%UDNH%DU
&RQWDFWLQJ%HOW