E – 1
,03257$176$)(7<,16758&7,216
,03257$176$)(7<,16758&7,2165($'&$5()8//<$1'.((3)25)8785(5()(5(1&(
7KLVRYHQLVGHVLJQHGWREHXVHGRQDFRXQWHUWRSRQO\,WLVQRWGHVLJQHGWREHEXLOWLQWRDZDOORUFDELQHW
'RQRWSODFHWKHRYHQLQDFDELQHW6HHSDJH(IRUWKHLQVWDOODWLRQ
7KHRYHQGRRUPD\EHFRPHKRWGXULQJFRRNLQJ3ODFHRUPRXQWWKHRYHQVRWKDWWKHERWWRPRIWKHRYHQLV
FPRUPRUHDERYHWKHÁRRU.HHSFKLOGUHQDZD\IURPWKHGRRUWRSUHYHQWWKHPIURPEXUQLQJWKHPVHOYHV
(QVXUHWKHUHLVDPLQLPXPRIIUHHVSDFHDERYHWKHRYHQRIFP
7KLVDSSOLDQFHLVLQWHQGHGWREHXVHGLQKRXVHKROGDQGVLPLODUDSSOLFDWLRQVVXFKDV
VWDIINLWFKHQDUHDVLQVKRSVRIILFHVDQGRWKHUZRUNLQJHQYLURQPHQWV
IDUPKRXVHV
E\FOLHQWVLQKRWHOVPRWHOVDQGRWKHUUHVLGHQWLDOHQYLURQPHQWV
EHGDQGEUHDNIDVWW\SHHQYLURQPHQWV
7KHPLFURZDYHRYHQLVLQWHQGHGIRUKHDWLQJIRRGDQGEHYHUDJHV
'U\LQJRIIRRGRUFORWKLQJDQGKHDWLQJRIZDUPLQJSDGVWKHUDSHXWLFGHYLFHVHJZKHDWEDJVVOLSSHUVVSRQJHV
GDPSFORWKDQGVLPLODUPD\OHDGWRULVNRILQMXU\LJQLWLRQRUILUH
7KLV DSSOLDQFH LV QRW LQWHQGHG IRU XVH E\SHUVRQV LQFOXGLQJ FKLOGUHQ ZLWK UHGXFHG SK\VLFDO VHQVRU\ RU
PHQWDOFDSDELOLWLHV RUODFNRI H[SHULHQFHDQGNQRZOHGJH XQOHVVWKH\KDYHEHHQ JLYHQVXSHUYLVLRQRU
LQVWUXFWLR
QFRQFHUQLQJXVHRIWKHDSSOLDQFHE\DSHUVRQUHVSRQVLEOHIRUWKHLUVDIHW\
&KLOGUHQVKRXOGEHVXSHUYLVHGWRHQVXUHWKDWWKH\GRQRWSOD\ZLWKWKHDSSOLDQFH
:$51,1* 2QO\DOORZFKLOGUHQWRXVHWKHRYHQZLWKRXWVXSHUYLVLRQZKHQDGHTXDWHLQVWUXFWLRQVKDYHEHHQ
JLYHQVRWKDWWKHFKLOGLVDEOHWRXVHWKHRYHQLQDVDIHZD\DQGXQGHUVWDQGVWKHKD]DUGVRILPSURSHUXVH
:$51,1*:KHQWKHDSSOLDQFHLVRSHUDWHGLQ6XSHU6WHDP&RQYHFWLRQRU3XUH6WHDPFKLOGUHQ
VKRXOGRQO\XVHWKHRYHQXQGHUDGXOWVXSHUYLVLRQGXHWRWKHWHPSHUDWXUHJHQHUDWHG
:$51,1* $FFHVVLEOHSDUWVPD\EHFRPHKRWGXULQJXVH<RXQJFKLOGUHQVKRXOGEHNHSWDZD\
:$51,1* ,IWKHGRRURUGRRUVHDOVDUHGDPDJHGWKHRYHQPXVWQRWEHRSHUDWHGXQWLOLWKDVEHHQUHSDLUHG
E\DTXDOLÀHGVHUYLFHWHFKQLFLDQWUDLQHG
E\6+$53
:$51,1* 1HYHUDGMXVW UHSDLU RU PRGLI\ WKH RYHQ E\ \RXUVHOI ,W LV KD]DUGRXV IRU DQ\RQH RWKHU WKDQ D
TXDOLÀHGVHUYLFHWHFKQLFLDQWUDLQHGE\6+$53WRFDUU\RXWDQ\VHUYLFHRUUHSDLURSHUDWLRQWKDWLQYROYHVWKH
UHPRYDORIDFRYHUZKLFKJLYHVSURWHFWLRQDJDLQVWH[SRVXUHWRPLFURZDYHHQHUJ\
,IWKHSRZHUVXSSO\FRUGRIWKLVDSSOLDQFHLVGDPDJHGLWPXVWEHUHSODFHGE\DTXDOLÀHGVHUYLFHWHFKQLFLDQ
WUDLQHGE\6+$53LQRUGHUWRDYRLGDKD]DUG
:$51,1* /LTXLGVDQGRWKHUIRRGVPXVWQRWEHKHDWHGLQVHDOHGFRQWDLQHUVVLQFHWKH\DUHOLDEOHWRH[SORGH
0LFURZDYHKHDWLQJRIEHYHUDJHVFDQUHVXOWLQGHOD\HGHUXSWLYHERLOLQJWKHUHIRUHFDUHPXVWEHWDNHQZKHQ
KDQGOLQJWKHFRQWDLQHU
(JJVLQWKHLUVKHOODQGZKROHKDUGERLOHGHJJVVKRXOGQRWEHKHDWHGRQPLFURZDYHPRGHVVLQFHWKH\PD\
H[SORGHHYHQDIWHUPLFURZDYHKHDWLQJKDVHQGHG7RFRRNRUUHKHDWHJJVZKLFKKDYHQRWEHHQVFUDPEOHG
RUPL[HGRQPLFURZDYHPRGHVSLHUFHWKH\RONVDQGWKHZKLWHVRUWKHHJJVPD\H[SORGH6KHOODQGVOLFH
KDUGERLOHGHJJVEHIRUHUHKHDWLQJWKHPRQPLFURZDYHPRGHV
8WHQVLOVVKRXOGEHFKHFNHGWRHQVXUHWKDWWKH\DUHVXLWDEOHIRUXVHLQWKHRYHQ6HH3DJH(8VHRQO\
PLFURZDYHVDIHFRQWDLQHUVDQGXWHQVLOVRQPLFURZDYHPRGHV
7KHFRQWHQWVRIIHHGLQJERWWOHVDQGEDE\IRRG
MDUVVKDOOEHVWLUUHGRUVKDNHQDQGWKHWHPSHUDWXUHFKHFNHG
0HWDOOLFFRQWDLQHUVIRUIRRGDQGEHYHUDJHVDUHQRWDOORZHGGXULQJPLFURZDYHPRGHV
EHIRUHFRQVXPSWLRQLQRUGHUWRDYRLGEXUQV
'XULQJ XVH WKH DSSOLDQFH EHFRPHV KRW &DUH VKRXOG EH WDNHQ WR DYRLG WRXFKLQJ WKHKHDWLQJHOHPHQWVDQG
RYHQFDYLW\7R SUHYHQWEXUQVDOZD\VXVHWKLFNRYHQJORYHV%HIRUHFOHDQLQJPDNHVXUHWKH\DUHQRWKRW
:KHQKHDWLQJIRRGLQSODVWLFRUSDSHUFRQWDLQHUVNHHSDQH\HRQWKHRYHQGXHWRWKHSRVVLELOLW\RILJQLWLRQ
,IVPRNHLVREVHUYHGVZLWFKRIIRUXQSOXJWKHDSSOLDQFHDQGNHHSWKHGRRUFORVHGLQRUGHUWRVWLÁHDQ\ÁDPHV
7KHRYHQVKRXOGEHFOHDQHGUHJXODUO\DQGDQ\IRRGGHSRVLWVUHPRYHG
&OHDQLQJDQGXVHUPDLQWHQDQFHVKDOOQRWEHSHUIRUPHGE\FKLOGUHQZLWKRXWVXSHUYLVLRQ
)DLOXUH WR PDLQWDLQWKHRYHQLQ D FOHDQ FRQGLWLR
QFRXOGOHDGWRGHWHULRUDWLRQRIWKH VXUIDFHWKDWFRXOG
DGYHUVHO\DIIHFWWKHOLIHRIWKHDSSOLDQFHDQGSRVVLEO\UHVXOWLQDKD]DUGRXVVLWXDWLRQ
'RQRW XVHKDUVK DEUDVLYH FOHDQHUV RUVKDUS PHWDOVFUDSHUV WR FOHDQWKHRYHQ GRRUJODVVVLQFHWKH\FDQ
VFUDWFKWKHVXUIDFHZKLFKPD\UHVXOWLQVKDWWHULQJRIWKHJODVV
6WHDPFOHDQHULVQRWWREHXVHG
6HHLQVWUXFWLRQVIRUFOHDQLQJGRRUVHDOVFDYLWLHVDQGDGMDFHQWSDUWVRQSDJH(
6HHLQVWUXFWLRQVIRUXVLQJDFFHVVRULHVRQSDJH(
2WKHUZDUQLQJV
7RUHGXFHWKHULVNRIÀUHLQWKHRYHQFDYLW\
D
1RRWKHUOLTXLGWKDQURRPWHPSHUDWXUHZDWHUVXLWDEOHIRUGULQNLQJILOWHUHGFDQEHSRXUHGLQWRWKHZDWHUWDQN
E 7KHRYHQVKRXOGQRWEHOHIWXQDWWHQGHGGXULQJRSHUDWLRQ+LJKRYHQWHPSHUDWXUHRUORQJFRRNLQJWLPH
PD\RYHUKHDWIRRGVUHVXOWLQJLQDÀUH
F 'RQRWRYHUFRRNIRRG
G 5HPRYHZLUHWZLVWWLHVIURPSDSHURUSODVWLFEDJVEHIRUHSODFLQJEDJLQWKHRYHQ
H 'RQRWKHDWRLORUIDWIRUGHHSIU\LQJ7KHWHPSHUDWXUHRIWKHRLOFDQQRWEHFRQWUROOHG
I 'RQRWXVHFRQWDLQHUVPDGHRIV\QWKHWLFPDWHULDOIRUFRRNLQJ7KH\FRXOGPHOWDWKLJKWHPSHUDWXUH
AX1600En,P01-201AX1600En,P01-201 15/08/0616:5115/08/0616:51