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["Sculpting Calculations"]
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[null,"Total CFADS",null,null,null,null,null,null,{"$f":"I2","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
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["Check"]
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[null,"Debt Issues",null,null,null,"Pct Tot","Pct Sculpt","Target"]
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[null,"Allocated"]
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[null,null,null,null,{"$f":"E5","v":0.3},null,{"$f":"G131*E133","v":287.09495503700361},null,0.12,{"$f":"I133","v":0.12},{"$f":"J133","v":0.12},0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12]
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[null,null,null,null,null,null,{"$f":"E137*G131","v":287.09495503700361}]
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[null,null,null,null,null,null,{"$f":"NPV(G122,I139:W139)","v":1126.9826427072796},null,{"$f":"I134+I137","v":153.84615384615384},{"$f":"J134+J137","v":161.53846153846152},184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,146.01797486769226,143.09761537033842,140.23566306293165,137.43094980167302,134.68233080563957]
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[null,null,null,"CFADS",null,null,null,null,{"$f":"I2","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
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[null,null,null,"CFADS 1",null,null,{"$f":"E6","v":8},null,{"$f":"(I1<=$G$143)*I141","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,0,0,0,0,0,0,0]
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[]
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[null,null,null,"Debt Service 2",{"$f":"E9/(E5+E13)","v":0.81818181818181812},null,null,{"$f":"NPV(G126,I148:W148)","v":585.82834799562397},{"$f":"(I144/$G$150-I147)*$E$148","v":70.910981731482849},74.456530818056976,85.093178077779399,81.547628991205258,78.002079904631131,74.456530818056976,72.967400201695838,71.508052197661911,124.39530629370627,121.90740016783215,119.46925216447548,117.07986712118597,0,0,0]
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[null,null,null,null,null,null,{"$f":"E3","v":1.3},{"$f":"NPV(G127,I150:W150)","v":1126.9826427072796},{"$f":"I$141/$G150","v":153.84615384615384},{"$f":"J$141/$G150","v":161.53846153846152},184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,146.01797486769226,143.09761537033842,140.23566306293165,137.43094980167302,134.68233080563957]
[]
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[]
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[null,null,null,null,null,null,null,null,4,2]
[]
[]
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[null,null,null,null,null,null,null,null,"dscr =cfads/ds"]
[]
[null,null,null,null,null,null,null,null,"ds =cfads/dscr"]
[null,null,null,null,null,null,null,null,"ds + other =cfads/dscr"]
[null,null,null,null,null,null,null,null,"ds =cfads/dscr - other"]
[]
[null,null,null,null,null,null,null,"Weighted LLCR"]
[null,null,null,null,null,null,null,null,"LLCR 1 =At Rate 1 =CFADS at Rate 1/Given Debt"]
[null,null,null,null,null,null,null,null,"LLCR 2 =At Rate 2 =CFADS at Rate 2/Given Debt"]
[null,null,null,null,null,null,null,null,"LLCR Average"]
[null,null,null,null,null,null,null,"Compute 1"]

{"sheet":"Only Interest Rate","index":1,"n_rows":186,"n_cols":23,"rows_kept":186,"cut":false,"hidden":false,"merged":[]}
[null,null,null,"Period",null,null,0,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15]
[null,"CFADS",null,null,null,null,null,null,200,210,240,230,220,210,{"$f":"N2*0.98","v":205.79999999999998},{"$f":"O2*0.98","v":201.68399999999997},197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
[null,"DSCR Target",null,null,1.3]
[null,"Non-Sculpted Debt Service",null,null,null,null,null,null,100,{"$f":"I4","v":100},{"$f":"J4","v":100},{"$f":"K4","v":100},{"$f":"L4","v":100},{"$f":"M4","v":100}]
[null,"Interest Rate",null,null,0]
[null,"NPV of Debt Service",null,null,{"$f":"NPV(E5,I4:W4)","v":600},"DSCR = CFADS/(SDS+ODS)"]
[null,null,null,null,null,"SDS = CFADS/DSCR - ODS"]
[]
[null,"Debt 1"]
[null,null,"Percent",null,0.3]
[null,null,"Tenor",null,10]
[null,null,"Interest Rate",null,null,null,null,null,0.02,{"$f":"I12","v":0.02},{"$f":"J12","v":0.02},0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02]
[null,"Debt 2"]
[null,null,"Amount",null,0.45]
[null,null,"Tenor",null,10]
[null,null,"Interest Rate",null,null,null,null,null,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1]
[null,"Debt 3"]
[null,null,"Amount",null,0.25]
[null,null,"Tenor",null,10]
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[]
["Sculpting Calculations"]
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[null,"Tenor Switch 3",null,null,{"$f":"E19","v":10},null,null,null,{"$f":"I1<=$E$25","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
[]
[null,"Issue 1 Percent",null,null,{"$f":"E10","v":0.3},null,null,null,{"$f":"$E$27*I23","v":0.3},{"$f":"$E$27*J23","v":0.3},0.3,0.3,0.3,0.3,0.3,0.3,0.3,0.3,0,0,0,0,0]
[null,"Issue 2 Percent",null,null,{"$f":"E14","v":0.45},null,null,null,{"$f":"$E$28*I24","v":0.45},{"$f":"$E$28*J24","v":0.45},0.45,0.45,0.45,0.45,0.45,0.45,0.45,0.45,0,0,0,0,0]
[null,"Issue 3 Percent",null,null,{"$f":"E18","v":0.25},null,null,null,{"$f":"$E$29*I25","v":0.25},{"$f":"$E$29*J25","v":0.25},0.25,0.25,0.25,0.25,0.25,0.25,0.25,0.25,0,0,0,0,0]
[null,"Total",null,null,null,null,null,null,{"$f":"SUM(I27:I29)","v":1},{"$f":"SUM(J27:J29)","v":1},1,1,1,1,1,1,1,1,0,0,0,0,0]
[]
[null,"Issue 1 Periodic Percent",null,null,null,null,null,null,{"$f":"IF(I$30,I27/I$30)","v":0.3},{"$f":"IF(J$30,J27/J$30)","v":0.3},0.3,0.3,0.3,0.3,0.3,0.3,0.3,0.3,false,false,false,false,false]
[null,"Issue 2 Periodic Percent",null,null,null,null,null,null,{"$f":"IF(I$30,I28/I$30)","v":0.45},0.45,0.45,0.45,0.45,0.45,0.45,0.45,0.45,0.45,false,false,false,false,false]
[null,"Issue 3 Periodic Percent",null,null,null,null,null,null,0.25,0.25,0.25,0.25,0.25,0.25,0.25,0.25,0.25,0.25,false,false,false,false,false]
[null,"Total",null,null,null,null,null,null,{"$f":"SUM(I32:I34)","v":1},{"$f":"SUM(J32:J34)","v":1},1,1,1,1,1,1,1,1,0,0,0,0,0]
[]
[null,"Total CFADS",null,null,null,null,null,null,{"$f":"I2","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
[null,"Other Debt Service",null,null,null,null,null,null,{"$f":"I4","v":100},100,100,100,100,100,0,0,0,0,0,0,0,0,0]
[null,"Total Sculpted Debt Service",null,null,{"$f":"E3","v":1.3},null,null,null,{"$f":"I37/$E$39-I38","v":53.84615384615384},{"$f":"J37/$E$39-J38","v":61.538461538461519},84.615384615384613,76.923076923076906,69.230769230769226,61.538461538461519,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,146.01797486769226,143.09761537033842,140.23566306293165,137.43094980167302,134.68233080563957]
[]
[null,"Issue 1: Percent",null,null,null,null,null,null,{"$f":"I32","v":0.3},{"$f":"J32","v":0.3},0.3,0.3,0.3,0.3,0.3,0.3,0.3,0.3,false,false,false,false,false]
[null,"Debt Service",null,null,{"$f":"E3","v":1.3},null,null,null,{"$f":"I39*I41","v":16.15384615384615},{"$f":"J39*J41","v":18.461538461538456},25.384615384615383,23.07692307692307,20.769230769230766,18.461538461538456,47.492307692307683,46.542461538461531,45.611612307692297,44.699380061538456,0,0,0,0,0]
[null,"PV Debt Service",null,null,{"$f":"NPV(F43,I42:W42)","v":269.92968025090511},{"$f":"I12","v":0.02}]
[]
[]
[null,"Issue 2: Percent",null,null,null,null,null,null,{"$f":"I33","v":0.45},0.45,0.45,0.45,0.45,0.45,0.45,0.45,0.45,0.45,false,false,false,false,false]
[null,"Debt Service",null,null,{"$f":"E3","v":1.3},null,null,null,{"$f":"I46*I39","v":24.23076923076923},{"$f":"J46*J39","v":27.692307692307683},38.07692307692308,34.615384615384606,31.153846153846153,27.692307692307683,71.238461538461536,69.813692307692293,68.417418461538446,67.049070092307687,0,0,0,0,0]
[null,"PV Debt Service",null,null,{"$f":"NPV(F48,I47:W47)","v":256.13156002661833},{"$f":"I16","v":0.1}]
[]
[null,"Issue 3: Percent",null,null,null,null,null,null,{"$f":"I34","v":0.25},0.25,0.25,0.25,0.25,0.25,0.25,0.25,0.25,0.25,false,false,false,false,false]
[null,"Debt Service",null,null,{"$f":"E47","v":1.3},null,null,null,{"$f":"I50*I39","v":13.46153846153846},{"$f":"J50*J39","v":15.38461538461538},21.153846153846153,19.230769230769226,17.307692307692307,15.38461538461538,39.576923076923073,38.785384615384608,38.009676923076917,37.249483384615381,0,0,0,0,0]
[null,"PV Debt Service",null,null,{"$f":"NPV(F52,I51:W51)","v":111.06876019092446},{"$f":"I20","v":0.15}]
[]
["Check"]
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[]
[null,"Debt Service Other",null,null,null,null,null,null,{"$f":"I4","v":100},100,100,100,100,100,0,0,0,0,0,0,0,0,0]
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[null,"Debt Service 2",null,null,null,null,null,null,{"$f":"I47","v":24.23076923076923},27.692307692307683,38.07692307692308,34.615384615384606,31.153846153846153,27.692307692307683,71.238461538461536,69.813692307692293,68.417418461538446,67.049070092307687,0,0,0,0,0]
[null,"Debt Service 3",null,null,null,null,null,null,{"$f":"I51","v":13.46153846153846},{"$f":"J51","v":15.38461538461538},21.153846153846153,19.230769230769226,17.307692307692307,15.38461538461538,39.576923076923073,38.785384615384608,38.009676923076917,37.249483384615381,0,0,0,0,0]
[null,null,"Total Debt Service",null,null,null,null,null,{"$f":"SUM(I57:I60)","v":153.84615384615384},161.53846153846152,184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,0,0,0,0,0]
[]
[null,"DSCR",null,null,null,null,null,null,{"$f":"IF(I61,I55/I61)","v":1.3},{"$f":"IF(J61,J55/J61)","v":1.3000000000000003},1.3,1.3,1.3,1.3000000000000003,1.3,1.3,1.3,1.3,false,false,false,false,false]
[]
[null,"Debt Issues",null,null,null,"Pct Tot","Pct Sculpt","Target"]
[null,null,"Other Debt",null,{"$f":"E6","v":600},{"$f":"E66/$E$70","v":0.48499349282032272}]
[null,null,"Debt 1",null,{"$f":"E43","v":269.92968025090511},{"$f":"E67/$E$70","v":0.21819023073459892},{"$f":"E67/$E$71","v":0.42366499780647615},{"$f":"E10","v":0.3}]
[null,null,"Debt 2",null,{"$f":"E48","v":256.13156002661833},{"$f":"E68/$E$70","v":0.20703689986471296},{"$f":"E68/$E$71","v":0.4020083182997165},{"$f":"E14","v":0.45}]
[null,null,"Debt 3",null,{"$f":"E52","v":111.06876019092446},{"$f":"E69/$E$70","v":8.9779376580365444E-2},{"$f":"E69/$E$71","v":0.1743266838938074},{"$f":"E29","v":0.25}]
[null,null,null,"Total",{"$f":"SUM(E66:E69)","v":1237.1300004684479},{"$f":"E70/$E$70","v":1}]
[null,null,null,"Sculpted",{"$f":"SUM(E67:E69)","v":637.13000046844786}]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
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[]
[null,"CFADS",null,null,null,null,null,null,{"$f":"I2","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
[null,"DSCR",null,null,{"$f":"E3","v":1.3},null,null,null,{"$f":"$E104","v":1.3},{"$f":"$E104","v":1.3},1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3]
[null,"Debt Service",null,null,null,null,null,null,{"$f":"I103/I104","v":153.84615384615384},{"$f":"J103/J104","v":161.53846153846152},184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,146.01797486769226,143.09761537033842,140.23566306293165,137.43094980167302,134.68233080563957]
[]
[null,"Debt Service 1",null,null,null,null,null,null,{"$f":"I105*I23","v":153.84615384615384},161.53846153846152,184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,0,0,0,0,0]
[null,"Compound Interest",null,null,null,null,1,null,{"$f":"G108*(1+I12)","v":1.02},{"$f":"I108*(1+J12)","v":1.0404},1.0612079999999999,1.08243216,1.1040808032,1.1261624192640001,1.14868566764928,1.1716593810022657,1.1950925686223111,1.2189944199947573,1.2433743083946525,1.2682417945625455,1.2936066304537963,1.3194787630628724,1.3458683383241299]
[null,"PV Before Adjsutment",null,null,null,null,{"$f":"SUMPRODUCT(I107:W107/I108:W108)","v":1459.90868990539}]
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[null,"Debt Service 2",null,null,null,null,null,null,{"$f":"I105*I24","v":153.84615384615384},161.53846153846152,184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,0,0,0,0,0]
[null,"Compound Interest",null,null,null,null,1,null,{"$f":"G112*(1+I16)","v":1.1000000000000001},{"$f":"I112*(1+J16)","v":1.2100000000000002},1.3310000000000004,1.4641000000000006,1.6105100000000008,1.7715610000000011,1.9487171000000014,2.1435888100000016,2.3579476910000019,2.5937424601000023,2.8531167061100029,3.1384283767210035,3.4522712143931042,3.7974983358324148,4.1772481694156562]
[null,"PV Before Adjustment",null,null,null,null,{"$f":"SUMPRODUCT(I111:W111/I112:W112)","v":1004.7073144498189}]
[]
[null,"Allocated"]
[null,null,"Total",null,null,null,{"$f":"G113+G109","v":2464.616004355209}]
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[null,null,"Debt 2",null,null,null,{"$f":"G113/G116","v":0.40765267801329141},null,{"$f":"I111*$G118","v":62.715796617429447},{"$f":"J111*$G118","v":65.851586448300907},75.258955940915342,72.123166110043854,68.987376279172395,65.851586448300907,64.534554719334892,63.24386362494819,61.978986352449233,60.73940662540025,0,0,0,0,0]
[null,null,"Total",null,null,null,null,null,{"$f":"SUM(I117:I118)","v":153.84615384615381},{"$f":"SUM(J117:J118)","v":161.53846153846149},184.61538461538458,176.92307692307688,169.23076923076923,161.53846153846149,158.30769230769226,155.1415384615384,152.03870769230767,148.9979335384615,0,0,0,0,0]
[null,null,null,null,null,null,null,null,{"$f":"IF(I119,I117/I119)","v":0.59234732198670859},{"$f":"IF(J119,J117/J119)","v":0.59234732198670859},0.59234732198670859,0.59234732198670859,0.59234732198670847,0.59234732198670859,0.59234732198670859,0.59234732198670859,0.59234732198670847,0.59234732198670859,false,false,false,false,false]
[null,"Amounts"]
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[null,null,"Debt 2",null,null,null,{"$f":"SUMPRODUCT(I118:W118/I112:W112)","v":409.57162735501072},{"$f":"G123/I118","v":6.5305975439238226},{"$f":"H123/H124","v":0.40765267801329136},null,null,{"$f":"G122","v":864.77300281058194},{"$f":"G139","v":382.30338904362276},null,{"$f":"M123*L122","v":226.43829733053778},{"$f":"O123/L123","v":0.26184709350846413},null,{"$f":"G123","v":409.57162735501072},{"$f":"M123","v":382.30338904362276}]
[null,null,null,null,null,null,{"$f":"SUM(G122:G123)","v":1274.3446301655927},{"$f":"SUM(H122:H123)","v":16.020004028308861}]
[null,"Check"]
[null,null,"Debt 1",null,null,null,{"$f":"IRR(H126:W126)","v":2.0000000000008455E-2},{"$f":"-G122","v":-864.77300281058194},{"$f":"I117","v":91.130357228724378},{"$f":"J117","v":95.686875090160584},109.35642867446926,104.79991081303302,100.24339295159682,95.686875090160584,93.773137588357372,91.897674836590227,90.059721339858427,88.25852691306126,0,0,0,0,0]
[null,null,"Debt 2",null,null,null,{"$f":"IRR(H127:W127)","v":9.9999999999999867E-2},{"$f":"-G123","v":-409.57162735501072},{"$f":"I118","v":62.715796617429447},65.851586448300907,75.258955940915342,72.123166110043854,68.987376279172395,65.851586448300907,64.534554719334892,63.24386362494819,61.978986352449233,60.73940662540025,0,0,0,0,0]
[null,null,"Total",null,null,null,{"$f":"IRR(H128:W128)","v":4.7339856957936188E-2},{"$f":"SUM(H126:H127)","v":-1274.3446301655927},{"$f":"SUM(I126:I127)","v":153.84615384615381},161.53846153846149,184.61538461538458,176.92307692307688,169.23076923076923,161.53846153846149,158.30769230769226,155.1415384615384,152.03870769230767,148.9979335384615,0,0,0,0,0]
[]
[null,"PV of CFADS",null,null,null,null,null,null,{"$f":"I103*I23","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,0,0,0,0,0]
[null,null,"PV for 1",null,null,null,{"$f":"G126","v":2.0000000000008455E-2},{"$f":"NPV(G131,I130:W130)","v":1897.8812968769248},{"$f":"H131/G139","v":4.9643329127285529}]
[null,null,"PV for 2",null,null,null,{"$f":"G127","v":9.9999999999999867E-2},{"$f":"NPV(G132,I130:W130)","v":1306.1195087847657},{"$f":"H132/G139","v":3.4164476335200127}]
[null,null,"PV for Both",null,null,null,{"$f":"G128","v":4.7339856957936188E-2},{"$f":"NPV(G133,I130:W130)","v":1656.6480191890328},{"$f":"H133/G137","v":1.3000000000000007}]
[]
[]
[]
[null,null,"PV",null,null,null,{"$f":"NPV(G128,I128:W128)","v":1274.3446301454092}]
[]
[null,null,null,null,{"$f":"E10","v":0.3},null,{"$f":"G137*E139","v":382.30338904362276},null,0.12,{"$f":"I139","v":0.12},{"$f":"J139","v":0.12},0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12]
[null,null,null,null,null,null,{"$f":"NPV(G126,I140:W140)","v":589.47803795804055},null,{"$f":"I139*$G139","v":45.876406685234727},{"$f":"J139*$G139","v":45.876406685234727},45.876406685234727,45.876406685234727,45.876406685234727,45.876406685234727,45.876406685234727,45.876406685234727,45.876406685234727,45.876406685234727,45.876406685234727,45.876406685234727,45.876406685234727,45.876406685234727,45.876406685234727]
[]
[null,null,null,null,null,null,{"$f":"E143*G137","v":382.30338904362276}]
[null,null,null,null,{"$f":"E139","v":0.3},null,{"$f":"NPV(G127,I143:W143)","v":861.59445727700984},null,{"$f":"I2/I104-I140","v":107.96974716091911},115.66205485322679,138.73897793014987,131.04667023784219,123.3543625455345,115.66205485322679,112.43128562245757,109.2651317763037,106.16230100707294,103.1215268532268,100.14156818245753,97.22120868510369,94.359256377696923,91.554543116438296,88.805924120404839]
[]
[null,null,null,null,null,null,{"$f":"NPV(G128,I145:W145)","v":1660.3607749139412},null,{"$f":"I140+I143","v":153.84615384615384},{"$f":"J140+J143","v":161.53846153846152},184.61538461538458,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,146.01797486769226,143.09761537033842,140.23566306293165,137.43094980167302,134.68233080563957]
[]
[null,null,null,"CFADS",null,null,null,null,{"$f":"I2","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
[]
[null,null,null,"CFADS 1",null,null,{"$f":"E11","v":10},null,{"$f":"(I1<=$G$149)*I147","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,0,0,0,0,0]
[null,null,null,"CFADS 2",null,null,{"$f":"E15","v":10},null,{"$f":"(I1<=$G$150)*I147","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,0,0,0,0,0]
[]
[]
[null,null,null,"Debt Service 1",{"$f":"H153/(H153+H154)","v":0.57922331986792885},null,2.9772016537424895,{"$f":"NPV(G131,I153:W153)","v":637.47153119144423},{"$f":"I149/$G153","v":67.177176174341469},{"$f":"J149/$G153","v":70.536034983058542},80.612611409209777,77.253752600492689,73.894893791775615,70.536034983058542,69.125314283397373,67.742807997729415,66.387951837774835,65.06019280101934,0,0,0,0,0]
[null,null,null,"Debt Service 2",{"$f":"E14/(E10+E18)","v":0.81818181818181812},null,null,{"$f":"NPV(G132,I154:W154)","v":463.09108313284929},{"$f":"(I150/$G$156-I153)*$E$154","v":70.910981731482849},74.456530818056976,85.093178077779399,81.547628991205258,78.002079904631131,74.456530818056976,72.967400201695838,71.508052197661911,70.077891153708677,68.676333330634506,0,0,0,0,0]
[null,null,null,null,{"$f":"E18/(E10+E14)","v":0.33333333333333331},null,null,{"$f":"NPV(I20,I155:W155)","v":254.68157832787708},{"$f":"(I149-I153-I154)/$G$156","v":47.624493918596677},{"$f":"(J149-J153-J154)/$G$156","v":50.005718614526536},57.149392702316028,54.768168006386183,52.386943310456346,50.005718614526536,49.005604242235968,48.025492157391263,47.064982314243423,46.123682667958548,0,0,0,0,0]
[null,null,null,null,null,null,{"$f":"E3","v":1.3},{"$f":"NPV(G133,I156:W156)","v":1660.3607749139414},{"$f":"I$147/$G156","v":153.84615384615384},{"$f":"J$147/$G156","v":161.53846153846152},184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,146.01797486769226,143.09761537033842,140.23566306293165,137.43094980167302,134.68233080563957]
[]
[null,null,null,null,null,null,null,{"$f":"(H153+H154)*E155-H155","v":112.17262644688739},{"$f":"I153+I154","v":138.08815790582432},{"$f":"J153+J154","v":144.99256580111552},165.70578948698918,158.80138159169795,151.89697369640675,144.99256580111552,142.09271448509321,139.25086019539134,136.4658429914835,133.73652613165385,0,0,0,0,0]
[null,null,null,null,null,null,null,null,{"$f":"I147/I158","v":1.4483501194678792},{"$f":"J147/J158","v":1.4483501194678792},1.4483501194678792,1.4483501194678792,1.4483501194678792,1.4483501194678792,1.4483501194678792,1.4483501194678789,1.4483501194678792,1.4483501194678789,{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
[]
[null,null,null,null,null,null,null,null,4,2]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,"dscr = cfads/ds"]
[]
[null,null,null,null,null,null,null,null,"ds = cfads/dscr"]
[null,null,null,null,null,null,null,null,"ds + other = cfads/dscr"]
[null,null,null,null,null,null,null,null,"ds = cfads/dscr - other"]
[]
[null,null,null,null,null,null,null,"Weighted LLCR"]
[null,null,null,null,null,null,null,null,"LLCR 1 = At Rate 1 = CFADS at Rate 1/Given Debt"]
[null,null,null,null,null,null,null,null,"LLCR 2 = At Rate 2 = CFADS at Rate 2/Given Debt"]
[null,null,null,null,null,null,null,null,"LLCR Average"]
[null,null,null,null,null,null,null,"Compute 1"]

{"sheet":"LLCR Method","index":2,"n_rows":192,"n_cols":23,"rows_kept":192,"cut":false,"hidden":false,"merged":[]}
[null,"Period",null,null,null,null,0,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15]
[null,"CFADS",null,null,null,null,null,null,200,210,240,230,220,210,{"$f":"N2*0.98","v":205.79999999999998},{"$f":"O2*0.98","v":201.68399999999997},197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
[null,"DSCR Target",null,null,1.3]
[null,"Max Debt to Capital",null,null,0.6]
[null,"Total Project Cost",null,null,900]
[null,"Non-Sculpted Debt Service",null,null,null,null,null,null,0,{"$f":"I6","v":0},{"$f":"J6","v":0},{"$f":"K6","v":0},{"$f":"L6","v":0},{"$f":"M6","v":0}]
[null,"Interest Rate",null,null,0,null,"DSCR =CFADS/(SDS+ODS)"]
[null,"NPV of Debt Service",null,null,{"$f":"NPV(E7,I6:W6)","v":0},null,"SDS =CFADS/DSCR - ODS"]
[]
[]
[]
[null,"Debt 1"]
[null,null,"Percent",null,0.3,{"$f":"E13*$E$5","v":270}]
[null,null,"Tenor",null,6]
[null,null,"Interest Rate",null,null,null,null,null,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15]
[null,"Debt 2"]
[null,null,"Amount",null,0.45,{"$f":"E17*E5","v":405}]
[null,null,"Tenor",null,10]
[null,null,"Interest Rate",null,null,null,null,null,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1]
[null,"Debt 3"]
[null,null,"Amount",null,0.25,{"$f":"E21*E5","v":225}]
[null,null,"Tenor",null,14]
[null,null,"Interest Rate",null,null,null,null,null,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02]
[]
["Sculpting Calculations"]
[null,"Tenor Switch 1",null,null,{"$f":"E14","v":6},null,null,null,{"$f":"I1<=$E26","v":true},true,true,true,true,true,false,false,false,false,false,false,false,false,false]
[null,"Tenor Switch 2",null,null,{"$f":"E18","v":10},null,null,null,{"$f":"I1<=$E27","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
[null,"Tenor Switch 3",null,null,{"$f":"E22","v":14},null,null,null,{"$f":"I1<=$E$28","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,false]
[]
[]
[null,"Total CFADS",null,null,null,null,null,null,{"$f":"I2","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
[null,"Other Debt Service",null,null,null,null,null,null,{"$f":"I6","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Total Sculpted Debt Service",null,null,{"$f":"E3","v":1.3},null,null,null,{"$f":"I31/$E$33-I32","v":153.84615384615384},{"$f":"J31/$E$33-J32","v":161.53846153846152},184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,146.01797486769226,143.09761537033842,140.23566306293165,137.43094980167302,134.68233080563957]
[]
[null,"Issue 1: Percent"]
[null,"Debt Service",null,null,{"$f":"E40","v":3.0451038251396727},null,null,null,{"$f":"I31/$E$36*I26","v":65.679205532778965},68.963165809417916,78.815046639334767,75.531086362695817,72.247126086056866,68.963165809417916,0,0,0,0,0,0,0,0,0]
[null,"PV Debt Service",null,null,{"$f":"NPV(F37,I36:W36)","v":269.99999999999994},{"$f":"I15","v":0.15}]
[null,"PV CF",null,null,{"$f":"NPV(F37,I31:W31*I26:W26)","v":822.17803278771169},null,null,null,"LLCR =NPV(CFADS)/Debt",null,null,"LLCR =NPV(CFADS)/(Odebt + Sdebt)"]
[null,"Debt 1",null,null,{"$f":"F13","v":270}]
[null,"LLCR 1",null,null,{"$f":"E38/E39","v":3.0451038251396727}]
[]
[null,"Issue 2: Percent"]
[null,"Debt Service",null,null,{"$f":"E47","v":3.2249864414438627},null,null,null,{"$f":"I31/$E$43*I27","v":62.015764602860699},65.116552833003738,74.418917523432839,71.318129293289815,68.217341063146776,65.116552833003738,63.814221776343658,62.537937340816782,61.287178594000444,60.061435022120435,0,0,0,0,0]
[null,"PV Debt Service",null,null,{"$f":"NPV(F44,I43:W43)","v":404.99999999999994},{"$f":"I19","v":0.1}]
[null,"PV CF",null,null,{"$f":"NPV(F44,I31:W31*I27:W27)","v":1306.1195087847643}]
[null,"Debt 2",null,null,{"$f":"F17","v":405}]
[null,"LLCR 2",null,null,{"$f":"E45/E46","v":3.2249864414438627}]
[]
[null,"Issue 3: Percent"]
[null,"Debt Service",null,null,{"$f":"E54","v":10.993604592996693},null,null,null,{"$f":"I31/$E$50*I28","v":18.192395252000143},19.102015014600148,21.830874302400172,20.921254539800163,20.011634777200157,19.102015014600148,18.719974714308144,18.345575220021981,17.97866371562154,17.619090441309112,17.266708632482928,16.921374459833267,16.582946970636605,16.251288031223872,0]
[null,"PV Debt Service",null,null,{"$f":"NPV(F51,I50:W50)","v":225.00000000000009},{"$f":"I23","v":0.02}]
[null,"PV CF",null,null,{"$f":"NPV(F51,I31:W31*I28:W28)","v":2473.561033424256}]
[null,"Debt 3",null,null,{"$f":"F21","v":225}]
[null,"LLCR 3",null,null,{"$f":"E52/E53","v":10.993604592996693}]
[]
[]
["Check"]
[null,"CFADS",null,null,null,null,null,null,{"$f":"I2","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
[]
[null,"Debt Service Other",null,null,null,null,null,null,{"$f":"I6","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Debt Service 1",null,null,null,null,null,null,{"$f":"I36","v":65.679205532778965},68.963165809417916,78.815046639334767,75.531086362695817,72.247126086056866,68.963165809417916,0,0,0,0,0,0,0,0,0]
[null,"Debt Service 2",null,null,null,null,null,null,{"$f":"I43","v":62.015764602860699},65.116552833003738,74.418917523432839,71.318129293289815,68.217341063146776,65.116552833003738,63.814221776343658,62.537937340816782,61.287178594000444,60.061435022120435,0,0,0,0,0]
[null,"Debt Service 3",null,null,null,null,null,null,{"$f":"I50","v":18.192395252000143},{"$f":"J50","v":19.102015014600148},21.830874302400172,20.921254539800163,20.011634777200157,19.102015014600148,18.719974714308144,18.345575220021981,17.97866371562154,17.619090441309112,17.266708632482928,16.921374459833267,16.582946970636605,16.251288031223872,0]
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[null,"Sculpted Cash Flow",null,null,null,null,null,{"$f":"-F13-F17-F21","v":-900},{"$f":"SUM(I61:I63)","v":145.88736538763982},{"$f":"SUM(J61:J63)","v":153.18173365702179},175.06483846516778,167.7704701957858,160.4761019264038,153.18173365702179,82.534196490651794,80.883512560838767,79.265842309621988,77.680525463429547,17.266708632482928,16.921374459833267,16.582946970636605,16.251288031223872,0]
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[null,"Debt Issues",null,null,null,"Pct Tot","Pct Sculpt","Target"]
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[null,null,null,"Sculpted",{"$f":"SUM(E73:E75)","v":900}]
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[null,"CFADS",null,null,null,null,null,null,{"$f":"I2","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
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[null,"Debt Service 1",null,null,null,null,null,null,{"$f":"I111*I26","v":153.84615384615384},161.53846153846152,184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,0,0,0,0,0,0,0,0,0]
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[null,"PV Before Adjsutment",null,null,null,null,{"$f":"SUMPRODUCT(I113:W113/I114:W114)","v":632.44464060593191}]
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[null,"Debt Service 2",null,null,null,null,null,null,{"$f":"I111*I27","v":153.84615384615384},161.53846153846152,184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,0,0,0,0,0]
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[null,"Allocated"]
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[null,"Amounts"]
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[null,"Check"]
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[null,null,"Debt 2",null,null,null,{"$f":"IRR(H133:W133)","v":0.10000000000000009},{"$f":"-G129","v":-616.58099884478474},{"$f":"I124","v":94.414177982604684},99.134886881734914,113.29701357912562,108.57630467999537,103.85559578086516,99.134886881734914,97.15218914410022,95.209145361218205,93.304962453993838,91.438863204913972,0,0,0,0,0]
[null,null,"Total",null,null,null,{"$f":"IRR(H134:W134)","v":0.11121432391280739},{"$f":"SUM(H132:H133)","v":-860.89932384568272},{"$f":"SUM(I132:I133)","v":153.84615384615381},161.53846153846149,184.61538461538458,176.92307692307688,169.23076923076923,161.53846153846149,97.15218914410022,95.209145361218205,93.304962453993838,91.438863204913972,0,0,0,0,0]
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[null,"PV of CFADS",null,null,null,null,null,null,{"$f":"I109*I26","v":200},210,240,230,220,210,0,0,0,0,0,0,0,0,0]
[null,null,"PV for 1",null,null,null,{"$f":"G132","v":0.14999999999999925},{"$f":"NPV(G137,I136:W136)","v":822.17803278771316},{"$f":"H137/G145","v":3.1834075910090491}]
[null,null,"PV for 2",null,null,null,{"$f":"G133","v":0.10000000000000009},{"$f":"NPV(G138,I136:W136)","v":947.92276416109826},{"$f":"H138/G145","v":3.6702811347185107}]
[null,null,"PV for Both",null,null,null,{"$f":"G134","v":0.11121432391280739},{"$f":"NPV(G139,I136:W136)","v":917.19778726809716},{"$f":"H139/G143","v":1.0653949444061082}]
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[]
[]
[null,null,"PV",null,null,null,{"$f":"NPV(G134,I134:W134)","v":860.89932384593612}]
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[null,null,null,null,{"$f":"E13","v":0.3},null,{"$f":"G143*E145","v":258.26979715378081},null,0.12,{"$f":"I145","v":0.12},{"$f":"J145","v":0.12},0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12]
[null,null,null,null,null,null,{"$f":"NPV(G132,I146:W146)","v":181.2238907107849},null,{"$f":"I145*$G145","v":30.992375658453696},{"$f":"J145*$G145","v":30.992375658453696},30.992375658453696,30.992375658453696,30.992375658453696,30.992375658453696,30.992375658453696,30.992375658453696,30.992375658453696,30.992375658453696,30.992375658453696,30.992375658453696,30.992375658453696,30.992375658453696,30.992375658453696]
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[null,null,null,null,null,null,{"$f":"E149*G143","v":258.26979715378081}]
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[null,null,null,null,null,null,{"$f":"NPV(G134,I151:W151)","v":1139.5355713732456},null,{"$f":"I146+I149","v":153.84615384615384},{"$f":"J146+J149","v":161.53846153846149},184.61538461538458,176.92307692307691,169.23076923076923,161.53846153846149,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,146.01797486769226,143.09761537033842,140.23566306293165,137.43094980167302,134.68233080563957]
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[null,null,null,"CFADS",null,null,null,null,{"$f":"I2","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
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[null,null,null,"CFADS 1",null,null,{"$f":"E14","v":6},null,{"$f":"(I1<=$G$155)*I153","v":200},210,240,230,220,210,0,0,0,0,0,0,0,0,0]
[null,null,null,"CFADS 2",null,null,{"$f":"E18","v":10},null,{"$f":"(I1<=$G$156)*I153","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,0,0,0,0,0]
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[null,null,null,"Debt Service 1",{"$f":"H159/(H159+H160)","v":0.32966720974356239},null,2.9772016537424895,{"$f":"NPV(G137,I159:W159)","v":276.15799277626849},{"$f":"I155/$G159","v":67.177176174341469},{"$f":"J155/$G159","v":70.536034983058542},80.612611409209777,77.253752600492689,73.894893791775615,70.536034983058542,0,0,0,0,0,0,0,0,0]
[null,null,null,"Debt Service 2",{"$f":"E17/(E13+E21)","v":0.81818181818181812},null,null,{"$f":"NPV(G138,I160:W160)","v":561.52917966372922},{"$f":"(I156/$G$162-I159)*$E$160","v":70.910981731482849},74.456530818056976,85.093178077779399,81.547628991205258,78.002079904631131,74.456530818056976,129.52447552447549,126.93398601398599,124.39530629370627,121.90740016783215,0,0,0,0,0]
[null,null,null,null,{"$f":"E21/(E13+E17)","v":0.33333333333333331},null,null,{"$f":"NPV(I23,I161:W161)","v":-36.012598867773491},{"$f":"(I155-I159-I160)/$G$162","v":47.624493918596677},{"$f":"(J155-J159-J160)/$G$162","v":50.005718614526536},57.149392702316028,54.768168006386183,52.386943310456346,50.005718614526536,-99.634211941904226,-97.641527703066146,-95.688697149004824,-93.774923206024724,0,0,0,0,0]
[null,null,null,null,null,null,{"$f":"E3","v":1.3},{"$f":"NPV(G139,I162:W162)","v":1139.5355713732456},{"$f":"I$153/$G162","v":153.84615384615384},{"$f":"J$153/$G162","v":161.53846153846152},184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,146.01797486769226,143.09761537033842,140.23566306293165,137.43094980167302,134.68233080563957]
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[null,null,null,null,null,null,null,{"$f":"(H159+H160)*E161-H161","v":315.24165634777273},{"$f":"I159+I160","v":138.08815790582432},{"$f":"J159+J160","v":144.99256580111552},165.70578948698918,158.80138159169795,151.89697369640675,144.99256580111552,129.52447552447549,126.93398601398599,124.39530629370627,121.90740016783215,0,0,0,0,0]
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[null,null,null,null,null,null,null,null,4,2]
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[null,null,null,null,null,null,null,null,"dscr =cfads/ds"]
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[null,null,null,null,null,null,null,null,"ds =cfads/dscr"]
[null,null,null,null,null,null,null,null,"ds + other =cfads/dscr"]
[null,null,null,null,null,null,null,null,"ds =cfads/dscr - other"]
[]
[null,null,null,null,null,null,null,"Weighted LLCR"]
[null,null,null,null,null,null,null,null,"LLCR 1 =At Rate 1 =CFADS at Rate 1/Given Debt"]
[null,null,null,null,null,null,null,null,"LLCR 2 =At Rate 2 =CFADS at Rate 2/Given Debt"]
[null,null,null,null,null,null,null,null,"LLCR Average"]
[null,null,null,null,null,null,null,"Compute 1"]

{"sheet":"LLCR and Sculpt","index":3,"n_rows":198,"n_cols":23,"rows_kept":198,"cut":false,"hidden":false,"merged":[]}
[null,null,null,"Period",null,null,0,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15]
[null,"CFADS",null,null,null,null,null,null,200,210,240,230,220,210,{"$f":"N2*0.98","v":205.79999999999998},{"$f":"O2*0.98","v":201.68399999999997},197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
[null,"DSCR Target",null,null,1.3]
[null,"Max Debt to Capital",null,null,0.6]
[null,"Total Project Cost",null,null,900]
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[null,"Interest Rate",null,null,0]
[null,"NPV of Debt Service",null,null,{"$f":"NPV(E7,I6:W6)","v":0}]
[null,null,null,null,null,"DSCR = CFADS/(SDS+ODS)",null,null,"LLCR = NPV(CFADS)/Debt",null,null,"LLCR = NPV(CFADS)/(Odebt + Sdebt)"]
[null,null,null,null,null,"SDS = CFADS/DSCR - ODS"]
[]
[null,"Max Tenor",null,null,{"$f":"MAX(E20,E24,E28)","v":12}]
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[null,"IRR on Sculpted Debt",null,null,{"$f":"E73","v":9.5632615285597078E-2},9.5600000000000004E-2,{"$f":"F15-E15","v":-3.2615285597073496E-5}]
[null,"NPV of Total Debt Service",null,null,{"$f":"NPV(F15,I14:W14)","v":1125.0350649407912}]
[]
[null,"Debt 1"]
[null,null,"Percent",null,0.3,{"$f":"E19*E16","v":337.51051948223738}]
[null,null,"Tenor",null,8]
[null,null,"Interest Rate",null,null,null,null,null,0.02,{"$f":"I21","v":0.02},{"$f":"J21","v":0.02},0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02]
[null,"Debt 2"]
[null,null,"Amount",null,0.45,{"$f":"E23*E16","v":506.26577922335605}]
[null,null,"Tenor",null,10]
[null,null,"Interest Rate",null,null,null,null,null,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1]
[null,"Debt 3"]
[null,null,"Amount",null,0.25,{"$f":"E27*E16","v":281.25876623519781}]
[null,null,"Tenor",null,12]
[null,null,"Interest Rate",null,null,null,null,null,0.15,{"$f":"I29","v":0.15},{"$f":"J29","v":0.15},0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15]
[]
["Sculpting Calculations"]
[null,"Tenor Switch 1",null,null,{"$f":"E20","v":8},null,null,null,{"$f":"I1<=$E32","v":true},true,true,true,true,true,true,true,false,false,false,false,false,false,false]
[null,"Tenor Switch 2",null,null,{"$f":"E24","v":10},null,null,null,{"$f":"I1<=$E33","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
[null,"Tenor Switch 3",null,null,{"$f":"E28","v":12},null,null,null,{"$f":"I1<=$E$34","v":true},true,true,true,true,true,true,true,true,true,true,true,false,false,false]
[]
[]
[null,"Total CFADS",null,null,null,null,null,null,{"$f":"I2","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
[null,"Other Debt Service",null,null,null,null,null,null,{"$f":"I6","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Total Sculpted Debt Service",null,null,{"$f":"E3","v":1.3},null,null,null,{"$f":"I37/$E$39-I38","v":153.84615384615384},{"$f":"J37/$E$39-J38","v":161.53846153846152},184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,146.01797486769226,143.09761537033842,140.23566306293165,137.43094980167302,134.68233080563957]
[]
[null,"Issue 1: Percent"]
[null,"Debt Service",null,null,{"$f":"E46","v":4.6623645725989364},null,null,null,{"$f":"I37/$E$42*I32","v":42.896688340378802},45.041522757397743,51.476026008454561,49.331191591435626,47.186357174416685,45.041522757397743,44.140692302249782,43.257878456204786,0,0,0,0,0,0,0]
[null,"PV Debt Service",null,null,{"$f":"NPV(F43,I42:W42)","v":337.51051948223744},{"$f":"I21","v":0.02}]
[null,"PV CF",null,null,{"$f":"NPV(F43,I37:W37*I32:W32)","v":1573.5970889134467}]
[null,"Debt 1",null,null,{"$f":"F19","v":337.51051948223738}]
[null,"LLCR 1",null,null,{"$f":"E44/E45","v":4.6623645725989364}]
[]
[null,"Issue 2: Percent"]
[null,"Debt Service",null,null,{"$f":"E53","v":2.5799087404019976},null,null,null,{"$f":"I37/$E$49*I33","v":77.522121952591348},81.398228050220922,93.026546343109629,89.150440245480056,85.274334147850482,81.398228050220922,79.770263489216489,78.174858219432153,76.611361055043517,75.079133833942649,0,0,0,0,0]
[null,"PV Debt Service",null,null,{"$f":"NPV(F50,I49:W49)","v":506.26577922335611},{"$f":"I25","v":0.1}]
[null,"PV CF",null,null,{"$f":"NPV(F50,I37:W37*I33:W33)","v":1306.1195087847643}]
[null,"Debt 2",null,null,{"$f":"F23","v":506.26577922335605}]
[null,"LLCR 2",null,null,{"$f":"E51/E52","v":2.5799087404019976}]
[]
[null,"Issue 3: Percent"]
[null,"Debt Service",null,null,{"$f":"E60","v":4.0713799700693896},null,null,null,{"$f":"I37/$E$56*I34","v":49.123393412133758},51.579563082740449,58.948072094560516,56.491902423953825,54.035732753347141,51.579563082740449,50.547971821085639,49.537012384663917,48.546272136970643,47.575346694231229,46.623839760346598,45.691362965139668,0,0,0]
[null,"PV Debt Service",null,null,{"$f":"NPV(F57,I56:W56)","v":281.25876623519781},{"$f":"I29","v":0.15}]
[null,"PV CF",null,null,{"$f":"NPV(F57,I37:W37*I34:W34)","v":1145.1113072564131}]
[null,"Debt 3",null,null,{"$f":"F27","v":281.25876623519781}]
[null,"LLCR 3",null,null,{"$f":"E58/E59","v":4.0713799700693896}]
[]
[]
["Check"]
[null,"CFADS",null,null,null,null,null,null,{"$f":"I2","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
[]
[null,"Debt Service Other",null,null,null,null,null,null,{"$f":"I6","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Debt Service 1",null,null,null,null,null,null,{"$f":"I42","v":42.896688340378802},45.041522757397743,51.476026008454561,49.331191591435626,47.186357174416685,45.041522757397743,44.140692302249782,43.257878456204786,0,0,0,0,0,0,0]
[null,"Debt Service 2",null,null,null,null,null,null,{"$f":"I49","v":77.522121952591348},81.398228050220922,93.026546343109629,89.150440245480056,85.274334147850482,81.398228050220922,79.770263489216489,78.174858219432153,76.611361055043517,75.079133833942649,0,0,0,0,0]
[null,"Debt Service 3",null,null,null,null,null,null,{"$f":"I56","v":49.123393412133758},{"$f":"J56","v":51.579563082740449},58.948072094560516,56.491902423953825,54.035732753347141,51.579563082740449,50.547971821085639,49.537012384663917,48.546272136970643,47.575346694231229,46.623839760346598,45.691362965139668,0,0,0]
[null,null,"Total Debt Service",null,null,null,null,null,{"$f":"SUM(I66:I69)","v":169.5422037051039},178.01931389035911,203.45064444612473,194.97353426086951,186.4964240756143,178.01931389035911,174.45892761255192,170.96974906030084,125.15763319201416,122.65448052817388,46.623839760346598,45.691362965139668,0,0,0]
[]
[null,"Sculpted Cash Flow",null,null,null,null,null,{"$f":"-F19-F23-F27","v":-1125.0350649407912},{"$f":"SUM(I67:I69)","v":169.5422037051039},{"$f":"SUM(J67:J69)","v":178.01931389035911},203.45064444612473,194.97353426086951,186.4964240756143,178.01931389035911,174.45892761255192,170.96974906030084,125.15763319201416,122.65448052817388,46.623839760346598,45.691362965139668,0,0,0]
[null,"Sculpted IRR",null,null,{"$f":"IRR(72:72)","v":9.5632615285597078E-2}]
[]
[null,"DSCR",null,null,null,null,null,null,{"$f":"IF(I70,I64/I70)","v":1.1796472832680256},{"$f":"IF(J70,J64/J70)","v":1.1796472832680254},1.1796472832680254,1.1796472832680254,1.1796472832680256,1.1796472832680254,1.1796472832680254,1.1796472832680256,1.5792110713436798,1.5792110713436798,4.0713799700693896,4.0713799700693896,false,false,false]
[]
[null,"Debt Issues",null,null,null,"Pct Tot","Pct Sculpt","Target"]
[null,null,"Other Debt",null,{"$f":"E8","v":0},{"$f":"E78/$E$82","v":0}]
[null,null,"Debt 1",null,{"$f":"E43","v":337.51051948223744},{"$f":"E79/$E$82","v":0.30000000000000004},{"$f":"E79/$E$83","v":0.30000000000000004},{"$f":"E19","v":0.3}]
[null,null,"Debt 2",null,{"$f":"E50","v":506.26577922335611},{"$f":"E80/$E$82","v":0.45000000000000007},{"$f":"E80/$E$83","v":0.45000000000000007},{"$f":"E23","v":0.45}]
[null,null,"Debt 3",null,{"$f":"E57","v":281.25876623519781},{"$f":"E81/$E$82","v":0.25},{"$f":"E81/$E$83","v":0.25},{"$f":"#REF!","v":{"$error":"#REF!"}}]
[null,null,null,"Total",{"$f":"SUM(E78:E81)","v":1125.0350649407912},{"$f":"E82/$E$82","v":1}]
[null,null,null,"Sculpted",{"$f":"SUM(E79:E81)","v":1125.0350649407912}]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"CFADS",null,null,null,null,null,null,{"$f":"I2","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
[null,"DSCR",null,null,{"$f":"E3","v":1.3},null,null,null,{"$f":"$E116","v":1.3},{"$f":"$E116","v":1.3},1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3]
[null,"Debt Service",null,null,null,null,null,null,{"$f":"I115/I116","v":153.84615384615384},{"$f":"J115/J116","v":161.53846153846152},184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,146.01797486769226,143.09761537033842,140.23566306293165,137.43094980167302,134.68233080563957]
[]
[null,"Debt Service 1",null,null,null,null,null,null,{"$f":"I117*I32","v":153.84615384615384},161.53846153846152,184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,0,0,0,0,0,0,0]
[null,"Compound Interest",null,null,null,null,1,null,{"$f":"G120*(1+I21)","v":1.02},{"$f":"I120*(1+J21)","v":1.0404},1.0612079999999999,1.08243216,1.1040808032,1.1261624192640001,1.14868566764928,1.1716593810022657,1.1950925686223111,1.2189944199947573,1.2433743083946525,1.2682417945625455,1.2936066304537963,1.3194787630628724,1.3458683383241299]
[null,"PV Before Adjsutment",null,null,null,null,{"$f":"SUMPRODUCT(I119:W119/I120:W120)","v":1210.4592991641896}]
[]
[null,"Debt Service 2",null,null,null,null,null,null,{"$f":"I117*I33","v":153.84615384615384},161.53846153846152,184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,0,0,0,0,0]
[null,"Compound Interest",null,null,null,null,1,null,{"$f":"G124*(1+I25)","v":1.1000000000000001},{"$f":"I124*(1+J25)","v":1.2100000000000002},1.3310000000000004,1.4641000000000006,1.6105100000000008,1.7715610000000011,1.9487171000000014,2.1435888100000016,2.3579476910000019,2.5937424601000023,2.8531167061100029,3.1384283767210035,3.4522712143931042,3.7974983358324148,4.1772481694156562]
[null,"PV Before Adjustment",null,null,null,null,{"$f":"SUMPRODUCT(I123:W123/I124:W124)","v":1004.7073144498189}]
[]
[null,"Allocated"]
[null,null,"Total",null,null,null,{"$f":"G125+G121","v":2215.1666136140084}]
[null,null,"Debt 1",null,null,null,{"$f":"G121/G128","v":0.54644164990792499},null,{"$f":"I119*$G129","v":84.067946139680757},{"$f":"J119*$G129","v":88.271343446664801},100.88153536761692,96.678138060632875,92.474740753648845,88.271343446664801,86.505916577731497,84.775798246176862,0,0,0,0,0,0,0]
[null,null,"Debt 2",null,null,null,{"$f":"G125/G128","v":0.45355835009207512},null,{"$f":"I123*$G130","v":69.778207706473097},{"$f":"J123*$G130","v":73.267118091796746},83.733849247767708,80.244938862444059,76.75602847712041,73.267118091796746,71.801775729960809,70.365740215361583,68.95842541105435,67.579256902833279,0,0,0,0,0]
[null,null,"Total",null,null,null,null,null,{"$f":"SUM(I129:I130)","v":153.84615384615387},{"$f":"SUM(J129:J130)","v":161.53846153846155},184.61538461538464,176.92307692307693,169.23076923076925,161.53846153846155,158.30769230769232,155.14153846153846,68.95842541105435,67.579256902833279,0,0,0,0,0]
[null,null,null,null,null,null,null,null,{"$f":"IF(I131,I129/I131)","v":0.54644164990792488},{"$f":"IF(J131,J129/J131)","v":0.54644164990792488},0.54644164990792488,0.54644164990792488,0.54644164990792488,0.54644164990792488,0.54644164990792488,0.54644164990792488,0,0,false,false,false,false,false]
[null,"Amounts"]
[null,null,"Debt 1",null,null,null,{"$f":"SUMPRODUCT(I129:W129/I120:W120)","v":661.44537658167042},{"$f":"G134/I129","v":7.8679854445672346},{"$f":"H134/H136","v":0.54644164990792499},null,null,0.59230000000000005,"X",null,null,null,null,{"$f":"I135","v":0.45355835009207496},"X"]
[null,null,"Debt 2",null,null,null,{"$f":"SUMPRODUCT(I130:W130/I124:W124)","v":455.69339186729951},{"$f":"G135/I130","v":6.5305975439238217},{"$f":"H135/H136","v":0.45355835009207496},null,null,{"$f":"G134","v":661.44537658167042},{"$f":"G151","v":335.1416305346234},null,{"$f":"M135*L134","v":198.50438776565747},{"$f":"O135/L135","v":0.30010700020540187},null,{"$f":"G135","v":455.69339186729951},{"$f":"M135","v":335.1416305346234}]
[null,null,null,null,null,null,{"$f":"SUM(G134:G135)","v":1117.13876844897},{"$f":"SUM(H134:H135)","v":14.398582988491057}]
[null,"Check"]
[null,null,"Debt 1",null,null,null,{"$f":"IRR(H138:W138)","v":2.000000000000024E-2},{"$f":"-G134","v":-661.44537658167042},{"$f":"I129","v":84.067946139680757},{"$f":"J129","v":88.271343446664801},100.88153536761692,96.678138060632875,92.474740753648845,88.271343446664801,86.505916577731497,84.775798246176862,0,0,0,0,0,0,0]
[null,null,"Debt 2",null,null,null,{"$f":"IRR(H139:W139)","v":9.9999999999999867E-2},{"$f":"-G135","v":-455.69339186729951},{"$f":"I130","v":69.778207706473097},73.267118091796746,83.733849247767708,80.244938862444059,76.75602847712041,73.267118091796746,71.801775729960809,70.365740215361583,68.95842541105435,67.579256902833279,0,0,0,0,0]
[null,null,"Total",null,null,null,{"$f":"IRR(H140:W140)","v":5.7582151729890674E-2},{"$f":"SUM(H138:H139)","v":-1117.13876844897},{"$f":"SUM(I138:I139)","v":153.84615384615387},161.53846153846155,184.61538461538464,176.92307692307693,169.23076923076925,161.53846153846155,158.30769230769232,155.14153846153846,68.95842541105435,67.579256902833279,0,0,0,0,0]
[]
[null,"PV of CFADS",null,null,null,null,null,null,{"$f":"I115*I32","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,0,0,0,0,0,0,0]
[null,null,"PV for 1",null,null,null,{"$f":"G138","v":2.000000000000024E-2},{"$f":"NPV(G143,I142:W142)","v":1573.5970889134453},{"$f":"H143/G151","v":4.6953196665040311}]
[null,null,"PV for 2",null,null,null,{"$f":"G139","v":9.9999999999999867E-2},{"$f":"NPV(G144,I142:W142)","v":1147.6177793631985},{"$f":"H144/G151","v":3.424277006507666}]
[null,null,"PV for Both",null,null,null,{"$f":"G140","v":5.7582151729890674E-2},{"$f":"NPV(G145,I142:W142)","v":1347.9274592834297},{"$f":"H145/G149","v":1.2065890982864711}]
[]
[]
[]
[null,null,"PV",null,null,null,{"$f":"NPV(G140,I140:W140)","v":1117.1387684487447}]
[]
[null,null,null,null,{"$f":"E19","v":0.3},null,{"$f":"G149*E151","v":335.1416305346234},null,0.12,{"$f":"I151","v":0.12},{"$f":"J151","v":0.12},0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12]
[null,null,null,null,null,null,{"$f":"NPV(G138,I152:W152)","v":516.75877449016809},null,{"$f":"I151*$G151","v":40.216995664154808},{"$f":"J151*$G151","v":40.216995664154808},40.216995664154808,40.216995664154808,40.216995664154808,40.216995664154808,40.216995664154808,40.216995664154808,40.216995664154808,40.216995664154808,40.216995664154808,40.216995664154808,40.216995664154808,40.216995664154808,40.216995664154808]
[]
[null,null,null,null,null,null,{"$f":"E155*G149","v":335.1416305346234}]
[null,null,null,null,{"$f":"E151","v":0.3},null,{"$f":"NPV(G139,I155:W155)","v":904.6403874622215},null,{"$f":"I2/I116-I152","v":113.62915818199903},121.32146587430671,144.3983889512298,136.7060812589221,129.01377356661442,121.32146587430671,118.09069664353748,114.92454279738362,111.82171202815286,108.78093787430672,105.80097920353745,102.88061970618361,100.01866739877684,97.213954137518215,94.465335141484758]
[]
[null,null,null,null,null,null,{"$f":"NPV(G140,I157:W157)","v":1554.4631046618699},null,{"$f":"I152+I155","v":153.84615384615384},{"$f":"J152+J155","v":161.53846153846152},184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,146.01797486769226,143.09761537033842,140.23566306293165,137.43094980167302,134.68233080563957]
[]
[null,null,null,"CFADS",null,null,null,null,{"$f":"I2","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,189.82336732799996,186.02689998143995,182.30636198181116,178.66023474217494,175.08703004733144]
[]
[null,null,null,"CFADS 1",null,null,{"$f":"E20","v":8},null,{"$f":"(I1<=$G$161)*I159","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,0,0,0,0,0,0,0]
[null,null,null,"CFADS 2",null,null,{"$f":"E24","v":10},null,{"$f":"(I1<=$G$162)*I159","v":200},210,240,230,220,210,205.79999999999998,201.68399999999997,197.65031999999997,193.69731359999997,0,0,0,0,0]
[]
[]
[null,null,null,"Debt Service 1",{"$f":"H165/(H165+H166)","v":0.5105772882512658},null,2.9772016537424895,{"$f":"NPV(G143,I165:W165)","v":528.54904434684693},{"$f":"I161/$G165","v":67.177176174341469},{"$f":"J161/$G165","v":70.536034983058542},80.612611409209777,77.253752600492689,73.894893791775615,70.536034983058542,69.125314283397373,67.742807997729415,0,0,0,0,0,0,0]
[null,null,null,"Debt Service 2",{"$f":"E23/(E19+E27)","v":0.81818181818181812},null,null,{"$f":"NPV(G144,I166:W166)","v":506.64985013812822},{"$f":"(I162/$G$168-I165)*$E$166","v":70.910981731482849},74.456530818056976,85.093178077779399,81.547628991205258,78.002079904631131,74.456530818056976,72.967400201695838,71.508052197661911,124.39530629370627,121.90740016783215,0,0,0,0,0]
[null,null,null,null,{"$f":"E27/(E19+E23)","v":0.33333333333333331},null,null,{"$f":"NPV(I29,I167:W167)","v":179.52127729622904},{"$f":"(I161-I165-I166)/$G$168","v":47.624493918596677},{"$f":"(J161-J165-J166)/$G$168","v":50.005718614526536},57.149392702316028,54.768168006386183,52.386943310456346,50.005718614526536,49.005604242235968,48.025492157391263,-95.688697149004824,-93.774923206024724,0,0,0,0,0]
[null,null,null,null,null,null,{"$f":"E3","v":1.3},{"$f":"NPV(G145,I168:W168)","v":1554.4631046618699},{"$f":"I$159/$G168","v":153.84615384615384},{"$f":"J$159/$G168","v":161.53846153846152},184.61538461538461,176.92307692307691,169.23076923076923,161.53846153846152,158.30769230769229,155.14153846153843,152.03870769230767,148.99793353846152,146.01797486769226,143.09761537033842,140.23566306293165,137.43094980167302,134.68233080563957]
[]
[null,null,null,null,null,null,null,{"$f":"(H165+H166)*E167-H167","v":165.54502086542934},{"$f":"I165+I166","v":138.08815790582432},{"$f":"J165+J166","v":144.99256580111552},165.70578948698918,158.80138159169795,151.89697369640675,144.99256580111552,142.09271448509321,139.25086019539134,124.39530629370627,121.90740016783215,0,0,0,0,0]
[null,null,null,null,null,null,null,null,{"$f":"I159/I170","v":1.4483501194678792},{"$f":"J159/J170","v":1.4483501194678792},1.4483501194678792,1.4483501194678792,1.4483501194678792,1.4483501194678792,1.4483501194678792,1.4483501194678789,1.588888888888889,1.5888888888888888,{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
[]
[null,null,null,null,null,null,null,null,4,2]
[]
[]
[]
[]
[]
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[]
[null,null,null,null,null,null,null,null,"dscr = cfads/ds"]
[]
[null,null,null,null,null,null,null,null,"ds = cfads/dscr"]
[null,null,null,null,null,null,null,null,"ds + other = cfads/dscr"]
[null,null,null,null,null,null,null,null,"ds = cfads/dscr - other"]
[]
[null,null,null,null,null,null,null,"Weighted LLCR"]
[null,null,null,null,null,null,null,null,"LLCR 1 = At Rate 1 = CFADS at Rate 1/Given Debt"]
[null,null,null,null,null,null,null,null,"LLCR 2 = At Rate 2 = CFADS at Rate 2/Given Debt"]
[null,null,null,null,null,null,null,null,"LLCR Average"]
[null,null,null,null,null,null,null,"Compute 1"]

{"sheet":"LLCR and Simple","index":4,"n_rows":199,"n_cols":23,"rows_kept":199,"cut":false,"hidden":false,"merged":[]}
[null,null,null,"Period",null,null,0,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15]
[null,"CFADS",null,null,null,null,null,null,100,100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"DSCR Target",null,null,2]
[null,"Max Debt to Capital",null,null,0.6]
[null,"Total Project Cost",null,null,900]
[null,"Non-Sculpted Debt Service",null,null,null,null,null,null,0,{"$f":"I6","v":0},{"$f":"J6","v":0},{"$f":"K6","v":0},{"$f":"L6","v":0},{"$f":"M6","v":0}]
[null,"Interest Rate",null,null,0]
[null,"NPV of Debt Service",null,null,{"$f":"NPV(E7,I6:W6)","v":0}]
[null,null,null,null,null,"DSCR = CFADS/(SDS+ODS)",null,null,"LLCR = NPV(CFADS)/Debt",null,null,"LLCR = NPV(CFADS)/(Odebt + Sdebt)"]
[null,null,null,null,null,"SDS = CFADS/DSCR - ODS",null,null,"ALCR = NPV(CFADS - CFADS/DSCR)/Debt"]
[]
[null,"Max Tenor",null,null,{"$f":"MAX(E20,E24,E28)","v":10}]
[null,"Aggregate Switch",null,null,null,null,null,null,{"$f":"I1<=$E$12","v":true},{"$f":"J1<=$E$12","v":true},true,true,true,true,true,true,true,true,false,false,false,false,false]
[null,"Total Debt Service for Sculpting",null,null,{"$f":"E3","v":2},"Fixed",null,null,{"$f":"I2/$E$14*I13","v":50},{"$f":"J2/$E$14*J13","v":50},50,50,50,50,50,50,50,50,0,0,0,0,0]
[null,"IRR on Sculpted Debt",null,null,{"$f":"E74","v":2.9203306439740118E-12},0,{"$f":"F15-E15","v":-2.9203306439740118E-12}]
[null,"NPV of Total Debt Service",null,null,{"$f":"NPV(F15,I14:W14)","v":500}]
[]
[null,"Debt 1"]
[null,null,"Percent",null,0.5,{"$f":"E19*E16","v":250}]
[null,null,"Tenor",null,10]
[null,null,"Interest Rate",null,null,null,null,null,0,{"$f":"I21","v":0},{"$f":"J21","v":0},0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Debt 2"]
[null,null,"Amount",null,0.5,{"$f":"E23*E16","v":250}]
[null,null,"Tenor",null,10]
[null,null,"Interest Rate",null,null,null,null,null,0,{"$f":"I25","v":0},{"$f":"J25","v":0},0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Debt 3"]
[null,null,"Amount",null,0,{"$f":"E27*E16","v":0}]
[null,null,"Tenor",null,10]
[null,null,"Interest Rate",null,null,null,null,null,0,{"$f":"I29","v":0},{"$f":"J29","v":0},0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[null,"Total CFADS",null,null,null,null,null,null,{"$f":"I2","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"Other Debt Service",null,null,null,null,null,null,{"$f":"I6","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Total Sculpted Debt Service",null,null,{"$f":"E3","v":2},null,null,null,{"$f":"I32/$E$34-I33","v":50},{"$f":"J32/$E$34-J33","v":50},50,50,50,50,50,50,50,50,50,50,50,50,50]
[]
[null,"Issue 1: Percent",null,null,{"$f":"E20","v":10},null,null,null,{"$f":"I1<=$E36","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
[null,"Other Debt Service"]
[null,"Debt Service",null,null,{"$f":"E43","v":4},null,null,null,{"$f":"(I32/$E$38-I37)*I36","v":25},{"$f":"(J32/$E$38-J37)*J36","v":25},25,25,25,25,25,25,25,25,0,0,0,0,0]
[null,"CFADS Adjusted",null,null,null,null,null,null,{"$f":"I32","v":100},{"$f":"J32","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"PV Debt Service",null,null,{"$f":"NPV(F40,I38:W38)","v":250},{"$f":"I21","v":0},{"$f":"E40-E42","v":0}]
[null,"PV CF",null,null,{"$f":"NPV(F40,I39:W39*I36:W36)","v":1000}]
[null,"Debt 1",null,null,{"$f":"F19","v":250}]
[null,"LLCR 1",null,null,{"$f":"E41/E42","v":4}]
[]
[null,"Issue 2: Percent",null,null,{"$f":"E24","v":10},null,null,null,{"$f":"I1<=$E45","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
[null,"Other Debt Service"]
[null,"Debt Service",null,null,{"$f":"E52","v":4},null,null,null,{"$f":"I32/$E$47*I45-I46","v":25},{"$f":"J32/$E$47*J45-J46","v":25},25,25,25,25,25,25,25,25,0,0,0,0,0]
[null,"PV Debt Service",null,null,{"$f":"NPV(F48,I47:W47)","v":250},{"$f":"I25","v":0}]
[null,"CFADS Adjusted",null,null,null,null,null,null,{"$f":"I32","v":100},{"$f":"J32","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"PV CF",null,null,{"$f":"NPV(F48,I49:W49*I45:W45)","v":1000}]
[null,"Debt 2",null,null,{"$f":"F23","v":250}]
[null,"LLCR 2",null,null,{"$f":"E50/E51","v":4}]
[]
[null,"Issue 3: Percent",null,null,{"$f":"E28","v":10},null,null,null,{"$f":"I1<=$E$54","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
[null,"Other Debt Service"]
[null,"Debt Service",null,null,{"$f":"E61","v":false}]
[null,"Other CFADS"]
[null,"PV Debt Service",null,null,{"$f":"NPV(F58,I56:W56)","v":0},{"$f":"I29","v":0}]
[null,"PV CF",null,null,{"$f":"NPV(F58,I32:W32*I54:W54)","v":1000}]
[null,"Debt 3",null,null,{"$f":"F27","v":0}]
[null,"LLCR 3",null,null,{"$f":"IF(E60,E59/E60)","v":false}]
[]
[]
["Check"]
[null,"CFADS",null,null,null,null,null,null,{"$f":"I2","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[]
[null,"Debt Service Other",null,null,null,null,null,null,{"$f":"I6","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Debt Service 1",null,null,null,null,null,null,{"$f":"I38","v":25},25,25,25,25,25,25,25,25,25,0,0,0,0,0]
[null,"Debt Service 2",null,null,null,null,null,null,{"$f":"I47","v":25},25,25,25,25,25,25,25,25,25,0,0,0,0,0]
[null,"Debt Service 3",null,null,null,null,null,null,{"$f":"I56","v":0},{"$f":"J56","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Total Debt Service",null,null,null,null,null,{"$f":"SUM(I67:I70)","v":50},50,50,50,50,50,50,50,50,50,0,0,0,0,0]
[]
[null,"Sculpted Cash Flow",null,null,null,null,null,{"$f":"-F19-F23-F27","v":-500},{"$f":"SUM(I68:I70)","v":50},{"$f":"SUM(J68:J70)","v":50},50,50,50,50,50,50,50,50,0,0,0,0,0]
[null,"Sculpted IRR",null,null,{"$f":"IRR(73:73)","v":2.9203306439740118E-12}]
[]
[null,"DSCR",null,null,null,null,null,null,{"$f":"IF(I71,I65/I71)","v":2},{"$f":"IF(J71,J65/J71)","v":2},2,2,2,2,2,2,2,2,false,false,false,false,false]
[]
[null,"Debt Issues",null,null,null,"Pct Tot","Pct Sculpt","Target"]
[null,null,"Other Debt",null,{"$f":"E8","v":0},{"$f":"E79/$E$83","v":0}]
[null,null,"Debt 1",null,{"$f":"E40","v":250},{"$f":"E80/$E$83","v":0.5},{"$f":"E80/$E$84","v":0.5},{"$f":"E19","v":0.5}]
[null,null,"Debt 2",null,{"$f":"E48","v":250},{"$f":"E81/$E$83","v":0.5},{"$f":"E81/$E$84","v":0.5},{"$f":"E23","v":0.5}]
[null,null,"Debt 3",null,{"$f":"E58","v":0},{"$f":"E82/$E$83","v":0},{"$f":"E82/$E$84","v":0},{"$f":"#REF!","v":{"$error":"#REF!"}}]
[null,null,null,"Total",{"$f":"SUM(E79:E82)","v":500},{"$f":"E83/$E$83","v":1}]
[null,null,null,"Sculpted",{"$f":"SUM(E80:E82)","v":500}]
[]
[]
[]
[]
[]
[]
[]
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[]
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[null,"CFADS",null,null,null,null,null,null,{"$f":"I2","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"DSCR",null,null,{"$f":"E3","v":2},null,null,null,{"$f":"$E117","v":2},{"$f":"$E117","v":2},2,2,2,2,2,2,2,2,2,2,2,2,2]
[null,"Debt Service",null,null,null,null,null,null,{"$f":"I116/I117","v":50},{"$f":"J116/J117","v":50},50,50,50,50,50,50,50,50,50,50,50,50,50]
[]
[null,"Debt Service 1",null,null,null,null,null,null,{"$f":"I118*I36","v":50},50,50,50,50,50,50,50,50,50,0,0,0,0,0]
[null,"Compound Interest",null,null,null,null,1,null,{"$f":"G121*(1+I21)","v":1},{"$f":"I121*(1+J21)","v":1},1,1,1,1,1,1,1,1,1,1,1,1,1]
[null,"PV Before Adjsutment",null,null,null,null,{"$f":"SUMPRODUCT(I120:W120/I121:W121)","v":500}]
[]
[null,"Debt Service 2",null,null,null,null,null,null,{"$f":"I118*I45","v":50},50,50,50,50,50,50,50,50,50,0,0,0,0,0]
[null,"Compound Interest",null,null,null,null,1,null,{"$f":"G125*(1+I25)","v":1},{"$f":"I125*(1+J25)","v":1},1,1,1,1,1,1,1,1,1,1,1,1,1]
[null,"PV Before Adjustment",null,null,null,null,{"$f":"SUMPRODUCT(I124:W124/I125:W125)","v":500}]
[]
[null,"Allocated"]
[null,null,"Total",null,null,null,{"$f":"G126+G122","v":1000}]
[null,null,"Debt 1",null,null,null,{"$f":"G122/G129","v":0.5},null,{"$f":"I120*$G130","v":25},{"$f":"J120*$G130","v":25},25,25,25,25,25,25,25,25,0,0,0,0,0]
[null,null,"Debt 2",null,null,null,{"$f":"G126/G129","v":0.5},null,{"$f":"I124*$G131","v":25},{"$f":"J124*$G131","v":25},25,25,25,25,25,25,25,25,0,0,0,0,0]
[null,null,"Total",null,null,null,null,null,{"$f":"SUM(I130:I131)","v":50},{"$f":"SUM(J130:J131)","v":50},50,50,50,50,50,50,50,50,0,0,0,0,0]
[null,null,null,null,null,null,null,null,{"$f":"IF(I132,I130/I132)","v":0.5},{"$f":"IF(J132,J130/J132)","v":0.5},0.5,0.5,0.5,0.5,0.5,0.5,0.5,0.5,false,false,false,false,false]
[null,"Amounts"]
[null,null,"Debt 1",null,null,null,{"$f":"SUMPRODUCT(I130:W130/I121:W121)","v":250},{"$f":"G135/I130","v":10},{"$f":"H135/H137","v":0.5},null,null,0.59230000000000005,"X",null,null,null,null,{"$f":"I136","v":0.5},"X"]
[null,null,"Debt 2",null,null,null,{"$f":"SUMPRODUCT(I131:W131/I125:W125)","v":250},{"$f":"G136/I131","v":10},{"$f":"H136/H137","v":0.5},null,null,{"$f":"G135","v":250},{"$f":"G152","v":249.99999999598452},null,{"$f":"M136*L135","v":148.07499999762163},{"$f":"O136/L136","v":0.59229999999048655},null,{"$f":"G136","v":250},{"$f":"M136","v":249.99999999598452}]
[null,null,null,null,null,null,{"$f":"SUM(G135:G136)","v":500},{"$f":"SUM(H135:H136)","v":20}]
[null,"Check"]
[null,null,"Debt 1",null,null,null,{"$f":"IRR(H139:W139)","v":2.9203306439740118E-12},{"$f":"-G135","v":-250},{"$f":"I130","v":25},{"$f":"J130","v":25},25,25,25,25,25,25,25,25,0,0,0,0,0]
[null,null,"Debt 2",null,null,null,{"$f":"IRR(H140:W140)","v":2.9203306439740118E-12},{"$f":"-G136","v":-250},{"$f":"I131","v":25},25,25,25,25,25,25,25,25,25,0,0,0,0,0]
[null,null,"Total",null,null,null,{"$f":"IRR(H141:W141)","v":2.9203306439740118E-12},{"$f":"SUM(H139:H140)","v":-500},{"$f":"SUM(I139:I140)","v":50},50,50,50,50,50,50,50,50,50,0,0,0,0,0]
[]
[null,"PV of CFADS",null,null,null,null,null,null,{"$f":"I116*I36","v":100},100,100,100,100,100,100,100,100,100,0,0,0,0,0]
[null,null,"PV for 1",null,null,null,{"$f":"G139","v":2.9203306439740118E-12},{"$f":"NPV(G144,I143:W143)","v":999.9999999839381},{"$f":"H144/G152","v":4}]
[null,null,"PV for 2",null,null,null,{"$f":"G140","v":2.9203306439740118E-12},{"$f":"NPV(G145,I143:W143)","v":999.9999999839381},{"$f":"H145/G152","v":4}]
[null,null,"PV for Both",null,null,null,{"$f":"G141","v":2.9203306439740118E-12},{"$f":"NPV(G146,I143:W143)","v":999.9999999839381},{"$f":"H146/G150","v":2}]
[]
[]
[]
[null,null,"PV",null,null,null,{"$f":"NPV(G141,I141:W141)","v":499.99999999196905}]
[]
[null,null,null,null,{"$f":"E19","v":0.5},null,{"$f":"G150*E152","v":249.99999999598452},null,0.12,{"$f":"I152","v":0.12},{"$f":"J152","v":0.12},0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12]
[null,null,null,null,null,null,{"$f":"NPV(G139,I153:W153)","v":449.999999982259},null,{"$f":"I152*$G152","v":29.999999999518142},{"$f":"J152*$G152","v":29.999999999518142},29.999999999518142,29.999999999518142,29.999999999518142,29.999999999518142,29.999999999518142,29.999999999518142,29.999999999518142,29.999999999518142,29.999999999518142,29.999999999518142,29.999999999518142,29.999999999518142,29.999999999518142]
[]
[null,null,null,null,null,null,{"$f":"E156*G150","v":249.99999999598452}]
[null,null,null,null,{"$f":"E152","v":0.5},null,{"$f":"NPV(G140,I156:W156)","v":300.00000000021907},null,{"$f":"I2/I117-I153","v":20.000000000481858},20.000000000481858,20.000000000481858,20.000000000481858,20.000000000481858,20.000000000481858,20.000000000481858,20.000000000481858,20.000000000481858,20.000000000481858,20.000000000481858,20.000000000481858,20.000000000481858,20.000000000481858,20.000000000481858]
[]
[null,null,null,null,null,null,{"$f":"NPV(G141,I158:W158)","v":749.9999999824779},null,{"$f":"I153+I156","v":50},{"$f":"J153+J156","v":50},50,50,50,50,50,50,50,50,50,50,50,50,50]
[]
[null,null,null,"CFADS",null,null,null,null,{"$f":"I2","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[]
[null,null,null,"CFADS 1",null,null,{"$f":"E20","v":10},null,{"$f":"(I1<=$G$162)*I160","v":100},100,100,100,100,100,100,100,100,100,0,0,0,0,0]
[null,null,null,"CFADS 2",null,null,{"$f":"E24","v":10},null,{"$f":"(I1<=$G$163)*I160","v":100},100,100,100,100,100,100,100,100,100,0,0,0,0,0]
[]
[]
[null,null,null,"Debt Service 1",{"$f":"H166/(H166+H167)","v":0.67177176174341469},null,2.9772016537424895,{"$f":"NPV(G144,I166:W166)","v":335.88588086631245},{"$f":"I162/$G166","v":33.588588087170734},{"$f":"J162/$G166","v":33.588588087170734},33.588588087170734,33.588588087170734,33.588588087170734,33.588588087170734,33.588588087170734,33.588588087170734,33.588588087170734,33.588588087170734,0,0,0,0,0]
[null,null,null,"Debt Service 2",{"$f":"E23/(E19+E27)","v":1},null,null,{"$f":"NPV(G145,I167:W167)","v":164.11411912565669},{"$f":"(I163/$G$169-I166)*$E$167","v":16.411411912829266},16.411411912829266,16.411411912829266,16.411411912829266,16.411411912829266,16.411411912829266,16.411411912829266,16.411411912829266,16.411411912829266,16.411411912829266,0,0,0,0,0]
[null,null,null,null,{"$f":"E27/(E19+E23)","v":0},null,null,{"$f":"NPV(I29,I168:W168)","v":250},{"$f":"(I162-I166-I167)/$G$169","v":25},{"$f":"(J162-J166-J167)/$G$169","v":25},25,25,25,25,25,25,25,25,0,0,0,0,0]
[null,null,null,null,null,null,{"$f":"E3","v":2},{"$f":"NPV(G146,I169:W169)","v":749.9999999824779},{"$f":"I$160/$G169","v":50},{"$f":"J$160/$G169","v":50},50,50,50,50,50,50,50,50,50,50,50,50,50]
[]
[null,null,null,null,null,null,null,{"$f":"(H166+H167)*E168-H168","v":-250},{"$f":"I166+I167","v":50},{"$f":"J166+J167","v":50},50,50,50,50,50,50,50,50,0,0,0,0,0]
[null,null,null,null,null,null,null,null,{"$f":"I160/I171","v":2},{"$f":"J160/J171","v":2},2,2,2,2,2,2,2,2,{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
[]
[null,null,null,null,null,null,null,null,4,2]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,"dscr = cfads/ds"]
[]
[null,null,null,null,null,null,null,null,"ds = cfads/dscr"]
[null,null,null,null,null,null,null,null,"ds + other = cfads/dscr"]
[null,null,null,null,null,null,null,null,"ds = cfads/dscr - other"]
[]
[null,null,null,null,null,null,null,"Weighted LLCR"]
[null,null,null,null,null,null,null,null,"LLCR 1 = At Rate 1 = CFADS at Rate 1/Given Debt"]
[null,null,null,null,null,null,null,null,"LLCR 2 = At Rate 2 = CFADS at Rate 2/Given Debt"]
[null,null,null,null,null,null,null,null,"LLCR Average"]
[null,null,null,null,null,null,null,"Compute 1"]

{"sheet":"Shift Cntl S","index":5,"n_rows":21,"n_cols":17,"rows_kept":21,"cut":false,"hidden":false,"merged":[]}
[]
[]
[null,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15]
[]
[null,null,100,100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,null,200,200,200,200,200,200,200,200,200,200,200,200,200,200,200]
[null,null,{"$f":"SUM(C5:C6)","v":300},{"$f":"SUM(D5:D6)","v":300},300,300,300,300,300,300,300,300,300,300,300,300,300]
[]
[null,null,"First time in blank row does not work"]
[null,null,"Over-write does work"]
[]
[null,null,200,100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[]
[null,null,100,100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[]
[null,null,300,300,300,300,300,300,300,300,300,300,300,300,300,300,300]
[]
[null,null,500,500,500,500,500,500,500,500,500,500,500,500,500,500,500]
[null,null,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000,1000]
[]
[null,null,2000,2000,2000,2000,2000,2000,2000,2000,2000,2000,2000,2000,2000,2000,2000]

{"sheet":"LLCR Same Tenor","index":6,"n_rows":82,"n_cols":23,"rows_kept":82,"cut":false,"hidden":false,"merged":[]}
[null,null,null,"Period",null,null,0,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15]
[null,"CFADS",null,null,null,null,null,null,100,100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"DSCR Target",null,null,1.75]
[null,"Max Debt to Capital",null,null,0.8]
[null,"Total Project Cost",null,null,900]
[null,"Non-Sculpted Debt Service",null,null,null,null,null,null,0,{"$f":"I6","v":0},{"$f":"J6","v":0},{"$f":"K6","v":0},{"$f":"L6","v":0},{"$f":"M6","v":0}]
[null,"Interest Rate",null,null,0]
[null,"NPV of Debt Service",null,null,{"$f":"NPV(E7,I6:W6)","v":0},null,"DSCR =CFADS/(SDS+ODS)",null,null,"LLCR =NPV(CFADS)/Debt",null,null,"LLCR =NPV(CFADS)/(Odebt + Sdebt)"]
[null,null,null,null,null,null,"SDS =CFADS/DSCR - ODS",null,null,"ALCR =NPV(CFADS - CFADS/DSCR)/Debt"]
[null,"Max Tenor",null,null,{"$f":"MAX(E18,E22,E26)","v":10}]
[null,"Aggregate Switch",null,null,null,null,null,null,{"$f":"I1<=$E$10","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
[null,"Total Debt Service for Sculpting",null,null,{"$f":"E3","v":1.75},"Fixed",null,null,{"$f":"I2/$E$12*I11","v":57.142857142857146},57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,0,0,0,0,0]
[null,"IRR on Sculpted Debt",null,null,{"$f":"E72","v":5.3782449931908172E-2},5.3782449931908172E-2,{"$f":"F13-E13","v":0}]
[null,"NPV of Total Debt Service",null,null,{"$f":"NPV(F13,I12:W12)","v":433.24809916352956}]
[]
[null,"Debt 1"]
[null,null,"Percent",null,0.4,{"$f":"E17*E14","v":173.29923966541185}]
[null,null,"Tenor",null,10]
[null,null,"Interest Rate",null,null,null,null,null,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1,0.1]
[null,"Debt 2"]
[null,null,"Amount",null,{"$f":"1-E17","v":0.6},{"$f":"E21*E14","v":259.94885949811771}]
[null,null,"Tenor",null,10]
[null,null,"Interest Rate",null,null,null,null,null,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02]
[null,"Debt 3"]
[null,null,"Amount",null,0,{"$f":"E25*E14","v":0}]
[null,null,"Tenor",null,10]
[null,null,"Interest Rate",null,null,null,null,null,0,{"$f":"I27","v":0},{"$f":"J27","v":0},0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[null,"Total CFADS",null,null,null,null,null,null,{"$f":"I2","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"Other Debt Service",null,null,null,null,null,null,{"$f":"I6","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[]
[null,"Issue 1: Percent",null,null,{"$f":"E18","v":10},null,null,null,{"$f":"I1<=$E34","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
[null,"Other Debt Service"]
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[null,"CFADS Adjusted",null,null,null,null,null,null,{"$f":"I30","v":100},{"$f":"J30","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"PV Debt Service",null,null,{"$f":"NPV(F38,I36:W36)","v":173.29923966541185},{"$f":"I19","v":0.1},{"$f":"E38-E40","v":0}]
[null,"PV CF",null,null,{"$f":"NPV(F38,I37:W37*I34:W34)","v":614.45671057046798}]
[null,"Debt 1",null,null,{"$f":"F17","v":173.29923966541185}]
[null,"LLCR 1",null,null,{"$f":"E39/E40","v":3.5456399679352151}]
[]
[null,"Issue 2: Percent",null,null,{"$f":"E22","v":10},null,null,null,{"$f":"I1<=$E43","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
[null,"Other Debt Service"]
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[null,"PV Debt Service",null,null,{"$f":"NPV(F46,I45:W45)","v":259.94885949811771},{"$f":"I23","v":0.02}]
[null,"CFADS Adjusted",null,null,null,null,null,null,{"$f":"I30","v":100},{"$f":"J30","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"PV CF",null,null,{"$f":"NPV(F46,I47:W47*I43:W43)","v":898.25850062422364}]
[null,"Debt 2",null,null,{"$f":"F21","v":259.94885949811771}]
[null,"LLCR 2",null,null,{"$f":"E48/E49","v":3.455520067902925}]
[]
[null,"Issue 3: Percent",null,null,{"$f":"E26","v":10},null,null,null,{"$f":"I1<=$E$52","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
[null,"Other Debt Service"]
[null,"Debt Service",null,null,{"$f":"E59","v":false}]
[null,"Other CFADS"]
[null,"PV Debt Service",null,null,{"$f":"NPV(F56,I54:W54)","v":0},{"$f":"I27","v":0}]
[null,"PV CF",null,null,{"$f":"NPV(F56,I30:W30*I52:W52)","v":1000}]
[null,"Debt 3",null,null,{"$f":"F25","v":0}]
[null,"LLCR 3",null,null,{"$f":"IF(E58,E57/E58)","v":false}]
[]
[]
["Check"]
[null,"CFADS",null,null,null,null,null,null,{"$f":"I2","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[]
[null,"Debt Service Other"]
[null,"Debt Service 1",null,null,null,null,null,null,{"$f":"I36","v":28.203653192186479},28.203653192186479,28.203653192186479,28.203653192186479,28.203653192186479,28.203653192186479,28.203653192186479,28.203653192186479,28.203653192186479,28.203653192186479,0,0,0,0,0]
[null,"Debt Service 2",null,null,null,null,null,null,{"$f":"I45","v":28.939203950474433},28.939203950474433,28.939203950474433,28.939203950474433,28.939203950474433,28.939203950474433,28.939203950474433,28.939203950474433,28.939203950474433,28.939203950474433,0,0,0,0,0]
[null,"Debt Service 3",null,null,null,null,null,null,{"$f":"I54","v":0},{"$f":"J54","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Total Debt Service",null,null,null,null,null,{"$f":"SUM(I65:I68)","v":57.142857142660915},57.142857142660915,57.142857142660915,57.142857142660915,57.142857142660915,57.142857142660915,57.142857142660915,57.142857142660915,57.142857142660915,57.142857142660915,0,0,0,0,0]
[]
[null,"Sculpted Cash Flow",null,null,null,null,null,{"$f":"-F17-F21-F25","v":-433.24809916352956},{"$f":"SUM(I66:I68)","v":57.142857142660915},{"$f":"SUM(J66:J68)","v":57.142857142660915},57.142857142660915,57.142857142660915,57.142857142660915,57.142857142660915,57.142857142660915,57.142857142660915,57.142857142660915,57.142857142660915,0,0,0,0,0]
[null,"Sculpted IRR",null,null,{"$f":"IRR(71:71)","v":5.3782449931908172E-2}]
[]
[null,"DSCR",null,null,null,null,null,null,{"$f":"IF(I69,I63/I69)","v":1.7500000000060094},{"$f":"IF(J69,J63/J69)","v":1.7500000000060094},1.7500000000060094,{"$f":"IF(L69,L63/L69)","v":1.7500000000060094},1.7500000000060094,1.7500000000060094,1.7500000000060094,1.7500000000060094,1.7500000000060094,1.7500000000060094,false,false,false,false,false]
[]
[null,"Debt Issues",null,null,null,"Pct Tot","Pct Sculpt","Target"]
[null,null,"Other Debt",null,{"$f":"E8","v":0},{"$f":"E77/$E$81","v":0}]
[null,null,"Debt 1",null,{"$f":"E38","v":173.29923966541185},{"$f":"E78/$E$81","v":0.40000000000000008},{"$f":"E78/$E$82","v":0.40000000000000008},{"$f":"E17","v":0.4}]
[null,null,"Debt 2",null,{"$f":"E46","v":259.94885949811771},{"$f":"E79/$E$81","v":0.6},{"$f":"E79/$E$82","v":0.6},{"$f":"E21","v":0.6}]
[null,null,"Debt 3",null,{"$f":"E56","v":0},{"$f":"E80/$E$81","v":0},{"$f":"E80/$E$82","v":0},{"$f":"#REF!","v":{"$error":"#REF!"}}]
[null,null,null,"Total",{"$f":"SUM(E77:E80)","v":433.24809916352956},{"$f":"E81/$E$81","v":1}]
[null,null,null,"Sculpted",{"$f":"SUM(E78:E80)","v":433.24809916352956}]

{"sheet":"LLCR Same Interest Rate","index":7,"n_rows":199,"n_cols":23,"rows_kept":199,"cut":false,"hidden":false,"merged":[]}
[null,null,null,"Period",null,null,0,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15]
[null,"CFADS",null,null,null,null,null,null,100,100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"DSCR Target",null,null,2]
[null,"Max Debt to Capital",null,null,0.6]
[null,"Total Project Cost",null,null,900]
[null,"Non-Sculpted Debt Service",null,null,null,null,null,null,0,{"$f":"I6","v":0},{"$f":"J6","v":0},{"$f":"K6","v":0},{"$f":"L6","v":0},{"$f":"M6","v":0}]
[null,"Interest Rate",null,null,0]
[null,"NPV of Debt Service",null,null,{"$f":"NPV(E7,I6:W6)","v":0}]
[null,null,null,null,null,"DSCR = CFADS/(SDS+ODS)",null,null,"LLCR = NPV(CFADS)/Debt",null,null,"LLCR = NPV(CFADS)/(Odebt + Sdebt)"]
[null,null,null,null,null,"SDS = CFADS/DSCR - ODS",null,null,"ALCR = NPV(CFADS - CFADS/DSCR)/Debt"]
[]
[null,"Max Tenor",null,null,{"$f":"MAX(E20,E24,E28)","v":12}]
[null,"Aggregate Switch",null,null,null,null,null,null,{"$f":"I1<=$E$12","v":true},{"$f":"J1<=$E$12","v":true},true,true,true,true,true,true,true,true,true,true,false,false,false]
[null,"Total Debt Service for Sculpting",null,null,{"$f":"E3","v":2},"Fixed",null,null,{"$f":"I2/$E$14*I13","v":50},{"$f":"J2/$E$14*J13","v":50},50,50,50,50,50,50,50,50,50,50,0,0,0]
[null,"IRR on Sculpted Debt",null,null,{"$f":"E74","v":5.0000000000000044E-2},0.05,{"$f":"F15-E15","v":0}]
[null,"NPV of Total Debt Service",null,null,{"$f":"NPV(F15,I14:W14)","v":443.16258182244036}]
[]
[null,"Debt 1"]
[null,null,"Percent",null,0.5,{"$f":"E19*E16","v":221.58129091122018}]
[null,null,"Tenor",null,8]
[null,null,"Interest Rate",null,null,null,null,null,0.05,{"$f":"I21","v":0.05},{"$f":"J21","v":0.05},0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05]
[null,"Debt 2"]
[null,null,"Amount",null,0.5,{"$f":"E23*E16","v":221.58129091122018}]
[null,null,"Tenor",null,12]
[null,null,"Interest Rate",null,null,null,null,null,0.05,{"$f":"I25","v":0.05},{"$f":"J25","v":0.05},0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05]
[null,"Debt 3"]
[null,null,"Amount",null,0,{"$f":"E27*E16","v":0}]
[null,null,"Tenor",null,10]
[null,null,"Interest Rate",null,null,null,null,null,0,{"$f":"I29","v":0},{"$f":"J29","v":0},0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[null,"Total CFADS",null,null,null,null,null,null,{"$f":"I2","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"Other Debt Service",null,null,null,null,null,null,{"$f":"I6","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Total Sculpted Debt Service",null,null,{"$f":"E3","v":2},null,null,null,{"$f":"I32/$E$34-I33","v":50},{"$f":"J32/$E$34-J33","v":50},50,50,50,50,50,50,50,50,50,50,50,50,50]
[]
[null,"Issue 1: Percent",null,null,{"$f":"E20","v":8},null,null,null,{"$f":"I1<=$E36","v":true},true,true,true,true,true,true,true,false,false,false,false,false,false,false]
[null,"Other Debt Service"]
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[null,"CFADS Adjusted",null,null,null,null,null,null,{"$f":"I32","v":100},{"$f":"J32","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"PV Debt Service",null,null,{"$f":"NPV(F40,I38:W38)","v":221.58129091122018},{"$f":"I21","v":0.05},{"$f":"E40-E42","v":0}]
[null,"PV CF",null,null,{"$f":"NPV(F40,I39:W39*I36:W36)","v":646.32127594262545}]
[null,"Debt 1",null,null,{"$f":"F19","v":221.58129091122018}]
[null,"LLCR 1",null,null,{"$f":"E41/E42","v":2.9168585185361322}]
[]
[null,"Issue 2: Percent",null,null,{"$f":"E24","v":12},{"$f":"E3","v":2},null,null,{"$f":"I1<=$E45","v":true},true,true,true,true,true,true,true,true,true,true,true,false,false,false]
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[null,"Debt Service",null,null,{"$f":"E52","v":4},null,null,null,{"$f":"(I32/$F$45-I46)*I45","v":15.716540804253185},{"$f":"(J32/$F$45-J46)*J45","v":15.716540804253185},15.716540804253185,15.716540804253185,15.716540804253185,15.716540804253185,15.716540804253185,15.716540804253185,50,50,50,50,0,0,0]
[null,"PV Debt Service",null,null,{"$f":"NPV(F48,I47:W47)","v":221.58129091122021},{"$f":"I25","v":0.05}]
[null,"CFADS Adjusted",null,null,null,null,null,null,{"$f":"I32","v":100},{"$f":"J32","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"PV CF",null,null,{"$f":"NPV(F48,I49:W49*I45:W45)","v":886.32516364488072}]
[null,"Debt 2",null,null,{"$f":"F23","v":221.58129091122018}]
[null,"LLCR 2",null,null,{"$f":"E50/E51","v":4}]
[]
[null,"Issue 3: Percent",null,null,{"$f":"E28","v":10},null,null,null,{"$f":"I1<=$E$54","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
[null,"Other Debt Service"]
[null,"Debt Service",null,null,{"$f":"E61","v":false}]
[null,"Other CFADS"]
[null,"PV Debt Service",null,null,{"$f":"NPV(F58,I56:W56)","v":0},{"$f":"I29","v":0}]
[null,"PV CF",null,null,{"$f":"NPV(F58,I32:W32*I54:W54)","v":1000}]
[null,"Debt 3",null,null,{"$f":"F27","v":0}]
[null,"LLCR 3",null,null,{"$f":"IF(E60,E59/E60)","v":false}]
[]
[]
["Check"]
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[]
[null,"Debt Service Other"]
[null,"Debt Service 1",null,null,null,null,null,null,{"$f":"I38","v":34.283459195746815},34.283459195746815,34.283459195746815,34.283459195746815,34.283459195746815,34.283459195746815,34.283459195746815,34.283459195746815,0,0,0,0,0,0,0]
[null,"Debt Service 2",null,null,null,null,null,null,{"$f":"I47","v":15.716540804253185},15.716540804253185,15.716540804253185,15.716540804253185,15.716540804253185,15.716540804253185,15.716540804253185,15.716540804253185,50,50,50,50,0,0,0]
[null,"Debt Service 3",null,null,null,null,null,null,{"$f":"I56","v":0},{"$f":"J56","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Total Debt Service",null,null,null,null,null,{"$f":"SUM(I67:I70)","v":50},50,50,50,50,50,50,50,50,50,50,50,0,0,0]
[]
[null,"Sculpted Cash Flow",null,null,null,null,null,{"$f":"-E16","v":-443.16258182244036},{"$f":"SUM(I68:I70)","v":50},{"$f":"SUM(J68:J70)","v":50},50,50,50,50,50,50,50,50,50,50,0,0,0]
[null,"Sculpted IRR",null,null,{"$f":"IRR(73:73)","v":5.0000000000000044E-2}]
[]
[null,"DSCR",null,null,null,null,null,null,{"$f":"IF(I71,I65/I71)","v":2},{"$f":"IF(J71,J65/J71)","v":2},2,2,2,2,2,2,2,2,2,2,false,false,false]
[]
[null,"Debt Issues",null,null,null,"Pct Tot","Pct Sculpt","Target"]
[null,null,"Other Debt",null,{"$f":"E8","v":0},{"$f":"E79/$E$83","v":0}]
[null,null,"Debt 1",null,{"$f":"E40","v":221.58129091122018},{"$f":"E80/$E$83","v":0.49999999999999994},{"$f":"E80/$E$84","v":0.49999999999999994},{"$f":"E19","v":0.5}]
[null,null,"Debt 2",null,{"$f":"E48","v":221.58129091122021},{"$f":"E81/$E$83","v":0.5},{"$f":"E81/$E$84","v":0.5},{"$f":"E23","v":0.5}]
[null,null,"Debt 3",null,{"$f":"E58","v":0},{"$f":"E82/$E$83","v":0},{"$f":"E82/$E$84","v":0},{"$f":"#REF!","v":{"$error":"#REF!"}}]
[null,null,null,"Total",{"$f":"SUM(E79:E82)","v":443.16258182244042},{"$f":"E83/$E$83","v":1}]
[null,null,null,"Sculpted",{"$f":"SUM(E80:E82)","v":443.16258182244042}]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"CFADS",null,null,null,null,null,null,{"$f":"I2","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"DSCR",null,null,{"$f":"E3","v":2},null,null,null,{"$f":"$E117","v":2},{"$f":"$E117","v":2},2,2,2,2,2,2,2,2,2,2,2,2,2]
[null,"Debt Service",null,null,null,null,null,null,{"$f":"I116/I117","v":50},{"$f":"J116/J117","v":50},50,50,50,50,50,50,50,50,50,50,50,50,50]
[]
[null,"Debt Service 1",null,null,null,null,null,null,{"$f":"I118*I36","v":50},50,50,50,50,50,50,50,0,0,0,0,0,0,0]
[null,"Compound Interest",null,null,null,null,1,null,{"$f":"G121*(1+I21)","v":1.05},{"$f":"I121*(1+J21)","v":1.1025},1.1576250000000001,1.2155062500000002,1.2762815625000004,1.3400956406250004,1.4071004226562505,1.477455443789063,1.5513282159785162,1.628894626777442,1.7103393581163142,1.7958563260221301,1.8856491423232367,1.9799315994393987,2.0789281794113688]
[null,"PV Before Adjsutment",null,null,null,null,{"$f":"SUMPRODUCT(I120:W120/I121:W121)","v":323.16063797131272}]
[]
[null,"Debt Service 2",null,null,null,null,null,null,{"$f":"I118*I45","v":50},50,50,50,50,50,50,50,50,50,50,50,0,0,0]
[null,"Compound Interest",null,null,null,null,1,null,{"$f":"G125*(1+I25)","v":1.05},{"$f":"I125*(1+J25)","v":1.1025},1.1576250000000001,1.2155062500000002,1.2762815625000004,1.3400956406250004,1.4071004226562505,1.477455443789063,1.5513282159785162,1.628894626777442,1.7103393581163142,1.7958563260221301,1.8856491423232367,1.9799315994393987,2.0789281794113688]
[null,"PV Before Adjustment",null,null,null,null,{"$f":"SUMPRODUCT(I124:W124/I125:W125)","v":443.16258182244036}]
[]
[null,"Allocated"]
[null,null,"Total",null,null,null,{"$f":"G126+G122","v":766.32321979375308}]
[null,null,"Debt 1",null,null,null,{"$f":"G122/G129","v":0.42170278757609303},null,{"$f":"I120*$G130","v":21.085139378804651},{"$f":"J120*$G130","v":21.085139378804651},21.085139378804651,21.085139378804651,21.085139378804651,21.085139378804651,21.085139378804651,21.085139378804651,0,0,0,0,0,0,0]
[null,null,"Debt 2",null,null,null,{"$f":"G126/G129","v":0.57829721242390697},null,{"$f":"I124*$G131","v":28.914860621195349},{"$f":"J124*$G131","v":28.914860621195349},28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,0,0,0]
[null,null,"Total",null,null,null,null,null,{"$f":"SUM(I130:I131)","v":50},{"$f":"SUM(J130:J131)","v":50},50,50,50,50,50,50,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,0,0,0]
[null,null,null,null,null,null,null,null,{"$f":"IF(I132,I130/I132)","v":0.42170278757609303},{"$f":"IF(J132,J130/J132)","v":0.42170278757609303},0.42170278757609303,0.42170278757609303,0.42170278757609303,0.42170278757609303,0.42170278757609303,0.42170278757609303,0,0,0,0,false,false,false]
[null,"Amounts"]
[null,null,"Debt 1",null,null,null,{"$f":"SUMPRODUCT(I130:W130/I121:W121)","v":136.27774186737119},{"$f":"G135/I130","v":6.4632127594262547},{"$f":"H135/H137","v":0.42170278757609303},null,null,0.59230000000000005,"X",null,null,null,null,{"$f":"I136","v":0.57829721242390697},"X"]
[null,null,"Debt 2",null,null,null,{"$f":"SUMPRODUCT(I131:W131/I125:W125)","v":256.27968571849885},{"$f":"G136/I131","v":8.8632516364488083},{"$f":"H136/H137","v":0.57829721242390697},null,null,{"$f":"G135","v":136.27774186737119},{"$f":"G152","v":196.27871378684171},null,{"$f":"M136*L135","v":116.25588217594635},{"$f":"O136/L136","v":0.85308048535973979},null,{"$f":"G136","v":256.27968571849885},{"$f":"M136","v":196.27871378684171}]
[null,null,null,null,null,null,{"$f":"SUM(G135:G136)","v":392.55742758587007},{"$f":"SUM(H135:H136)","v":15.326464395875064}]
[null,"Check"]
[null,null,"Debt 1",null,null,null,{"$f":"IRR(H139:W139)","v":5.0000000000108402E-2},{"$f":"-G135","v":-136.27774186737119},{"$f":"I130","v":21.085139378804651},{"$f":"J130","v":21.085139378804651},21.085139378804651,21.085139378804651,21.085139378804651,21.085139378804651,21.085139378804651,21.085139378804651,0,0,0,0,0,0,0]
[null,null,"Debt 2",null,null,null,{"$f":"IRR(H140:W140)","v":5.0000000000000044E-2},{"$f":"-G136","v":-256.27968571849885},{"$f":"I131","v":28.914860621195349},28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,0,0,0]
[null,null,"Total",null,null,null,{"$f":"IRR(H141:W141)","v":5.0000000006104717E-2},{"$f":"SUM(H139:H140)","v":-392.55742758587007},{"$f":"SUM(I139:I140)","v":50},50,50,50,50,50,50,50,28.914860621195349,28.914860621195349,28.914860621195349,28.914860621195349,0,0,0]
[]
[null,"PV of CFADS",null,null,null,null,null,null,{"$f":"I116*I36","v":100},100,100,100,100,100,100,100,0,0,0,0,0,0,0]
[null,null,"PV for 1",null,null,null,{"$f":"G139","v":5.0000000000108402E-2},{"$f":"NPV(G144,I143:W143)","v":646.32127594234237},{"$f":"H144/G152","v":3.2928750320029403}]
[null,null,"PV for 2",null,null,null,{"$f":"G140","v":5.0000000000000044E-2},{"$f":"NPV(G145,I143:W143)","v":646.32127594262545},{"$f":"H145/G152","v":3.2928750320043827}]
[null,null,"PV for Both",null,null,null,{"$f":"G141","v":5.0000000006104717E-2},{"$f":"NPV(G146,I143:W143)","v":646.32127592667587},{"$f":"H146/G150","v":1.6464375159615614}]
[]
[]
[]
[null,null,"PV",null,null,null,{"$f":"NPV(G141,I141:W141)","v":392.55742757368341}]
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[null,null,null,null,{"$f":"E19","v":0.5},null,{"$f":"G150*E152","v":196.27871378684171},null,0.12,{"$f":"I152","v":0.12},{"$f":"J152","v":0.12},0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12,0.12]
[null,null,null,null,null,null,{"$f":"NPV(G139,I153:W153)","v":244.47671151358165},null,{"$f":"I152*$G152","v":23.553445654421004},{"$f":"J152*$G152","v":23.553445654421004},23.553445654421004,23.553445654421004,23.553445654421004,23.553445654421004,23.553445654421004,23.553445654421004,23.553445654421004,23.553445654421004,23.553445654421004,23.553445654421004,23.553445654421004,23.553445654421004,23.553445654421004]
[]
[null,null,null,null,null,null,{"$f":"E156*G150","v":196.27871378684171}]
[null,null,null,null,{"$f":"E152","v":0.5},null,{"$f":"NPV(G140,I156:W156)","v":274.50619039526885},null,{"$f":"I2/I117-I153","v":26.446554345578996},26.446554345578996,26.446554345578996,26.446554345578996,26.446554345578996,26.446554345578996,26.446554345578996,26.446554345578996,26.446554345578996,26.446554345578996,26.446554345578996,26.446554345578996,26.446554345578996,26.446554345578996,26.446554345578996]
[]
[null,null,null,null,null,null,{"$f":"NPV(G141,I158:W158)","v":518.98290188761439},null,{"$f":"I153+I156","v":50},{"$f":"J153+J156","v":50},50,50,50,50,50,50,50,50,50,50,50,50,50]
[]
[null,null,null,"CFADS",null,null,null,null,{"$f":"I2","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[]
[null,null,null,"CFADS 1",null,null,{"$f":"E20","v":8},null,{"$f":"(I1<=$G$162)*I160","v":100},100,100,100,100,100,100,100,0,0,0,0,0,0,0]
[null,null,null,"CFADS 2",null,null,{"$f":"E24","v":12},null,{"$f":"(I1<=$G$163)*I160","v":100},100,100,100,100,100,100,100,100,100,100,100,0,0,0]
[]
[]
[null,null,null,"Debt Service 1",{"$f":"H166/(H166+H167)","v":0.48986579643821659},null,2.9772016537424895,{"$f":"NPV(G144,I166:W166)","v":217.09019109601948},{"$f":"I162/$G166","v":33.588588087170734},{"$f":"J162/$G166","v":33.588588087170734},33.588588087170734,33.588588087170734,33.588588087170734,33.588588087170734,33.588588087170734,33.588588087170734,0,0,0,0,0,0,0]
[null,null,null,"Debt Service 2",{"$f":"E23/(E19+E27)","v":1},null,null,{"$f":"NPV(G145,I167:W167)","v":226.07239072632581},{"$f":"(I163/$G$169-I166)*$E$167","v":16.411411912829266},16.411411912829266,16.411411912829266,16.411411912829266,16.411411912829266,16.411411912829266,16.411411912829266,16.411411912829266,50,50,50,50,0,0,0]
[null,null,null,null,{"$f":"E27/(E19+E23)","v":0},null,null,{"$f":"NPV(I29,I168:W168)","v":100},{"$f":"(I162-I166-I167)/$G$169","v":25},{"$f":"(J162-J166-J167)/$G$169","v":25},25,25,25,25,25,25,-25,-25,-25,-25,0,0,0]
[null,null,null,null,null,null,{"$f":"E3","v":2},{"$f":"NPV(G146,I169:W169)","v":518.98290188761439},{"$f":"I$160/$G169","v":50},{"$f":"J$160/$G169","v":50},50,50,50,50,50,50,50,50,50,50,50,50,50]
[]
[null,null,null,null,null,null,null,{"$f":"(H166+H167)*E168-H168","v":-100},{"$f":"I166+I167","v":50},{"$f":"J166+J167","v":50},50,50,50,50,50,50,50,50,50,50,0,0,0]
[null,null,null,null,null,null,null,null,{"$f":"I160/I171","v":2},{"$f":"J160/J171","v":2},2,2,2,2,2,2,2,2,2,2,{"$error":"#DIV/0!"},{"$error":"#DIV/0!"},{"$error":"#DIV/0!"}]
[]
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[null,null,null,null,null,null,null,null,4,2]
[]
[]
[]
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[null,null,null,null,null,null,null,null,"dscr = cfads/ds"]
[]
[null,null,null,null,null,null,null,null,"ds = cfads/dscr"]
[null,null,null,null,null,null,null,null,"ds + other = cfads/dscr"]
[null,null,null,null,null,null,null,null,"ds = cfads/dscr - other"]
[]
[null,null,null,null,null,null,null,"Weighted LLCR"]
[null,null,null,null,null,null,null,null,"LLCR 1 = At Rate 1 = CFADS at Rate 1/Given Debt"]
[null,null,null,null,null,null,null,null,"LLCR 2 = At Rate 2 = CFADS at Rate 2/Given Debt"]
[null,null,null,null,null,null,null,null,"LLCR Average"]
[null,null,null,null,null,null,null,"Compute 1"]

{"sheet":"LLCR and Formula 2 Issues","index":8,"n_rows":83,"n_cols":23,"rows_kept":83,"cut":false,"hidden":false,"merged":[]}
[null,null,null,"Period",null,null,0,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15]
[null,"CFADS",null,null,null,null,null,null,100,100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"DSCR Target",null,null,1.75]
[null,"Max Debt to Capital",null,null,0.6]
[null,"Total Project Cost",null,null,900]
[null,"Non-Sculpted Debt Service",null,null,null,null,null,null,0,{"$f":"I6","v":0},{"$f":"J6","v":0},{"$f":"K6","v":0},{"$f":"L6","v":0},{"$f":"M6","v":0}]
[null,"Interest Rate",null,null,0,null,null,"DSCR =CFADS/(SDS+ODS)",null,null,"LLCR =NPV(CFADS)/Debt",null,null,"LLCR =NPV(CFADS)/(Odebt + Sdebt)"]
[null,"NPV of Debt Service",null,null,{"$f":"NPV(E7,I6:W6)","v":0},null,null,"SDS =CFADS/DSCR - ODS",null,null,"ALCR =NPV(CFADS - CFADS/DSCR)/Debt"]
[]
[null,"Max Tenor",null,null,{"$f":"MAX(E18,E22,E26)","v":14},{"$f":"_xlfn.FORMULATEXT(E10)","v":"=MAX(E18,E22,E26)"}]
[null,"Aggregate Switch",null,null,null,null,null,null,{"$f":"I1<=$E$10","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,false]
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[null,"IRR on Sculpted Debt",null,null,{"$f":"E73","v":6.9421592728707182E-2},6.9421592855591019E-2,{"$f":"F13-E13","v":1.2688383677073034E-10}]
[null,"NPV of Total Debt Service",null,null,{"$f":"NPV(F13,I12:W12)","v":501.47908596553071},{"$f":"_xlfn.FORMULATEXT(E14)","v":"=NPV(F13,I12:W12)"}]
[]
[null,"Debt 1"]
[null,null,"Percent",null,0.6,{"$f":"E17*E14","v":300.88745157931839}]
[null,null,"Tenor",null,8]
[null,null,"Interest Rate",null,null,null,null,null,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15]
[null,"Debt 2"]
[null,null,"Amount",null,{"$f":"1-E17","v":0.4},{"$f":"E21*E14","v":200.59163438621229}]
[null,null,"Tenor",null,14]
[null,null,"Interest Rate",null,null,null,null,null,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02]
[null,"Debt 3"]
[null,null,"Amount",null,0,{"$f":"E25*E14","v":0}]
[null,null,"Tenor",null,10]
[null,null,"Interest Rate",null,null,null,null,null,0,{"$f":"I27","v":0},{"$f":"J27","v":0},0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
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[]
[null,"Issue 1: Percent",null,null,{"$f":"E18","v":8},null,null,null,{"$f":"I1<=$E34","v":true},true,true,true,true,true,true,true,false,false,false,false,false,false,false]
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[null,"Debt 1",null,null,{"$f":"F17","v":300.88745157931839}]
[null,"LLCR 1",null,null,{"$f":"IF(E40,E39/E40,0.000000001)","v":1.4913621303044917}]
[]
[null,"Issue 2: Percent",null,null,{"$f":"E22","v":14},null,null,null,{"$f":"I1<=$E43","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,false]
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[null,"Debt Service",null,null,{"$f":"E3","v":1.75},null,null,null,{"$f":"(I30/$E$45-I44)*I43","v":-9.9099383975412039},{"$f":"(J30/$E$45-J44)*J43","v":-9.9099383975412039},-9.9099383975412039,-9.9099383975412039,-9.9099383975412039,-9.9099383975412039,-9.9099383975412039,-9.9099383975412039,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,0]
[null,"PV Debt Service",null,null,{"$f":"NPV(F46,I45:W45)","v":200.59163476900335},{"$f":"I23","v":0.02}]
[null,"Target",null,null,{"$f":"F21","v":200.59163438621229}]
[null,"Difference",null,null,{"$f":"E47-E46","v":-3.8279105751826137E-7}]
[]
[null,"Issue 3: Percent",null,null,{"$f":"E26","v":10},null,null,null,{"$f":"I1<=$E$50","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
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[null,"PV CF",null,null,{"$f":"NPV(F54,I30:W30*I50:W50)","v":1000}]
[null,"Debt 3",null,null,{"$f":"F25","v":0}]
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[]
[]
["Check"]
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[]
[null,"Debt Service Other"]
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[]
[null,null,null,null,null,null,null,{"$f":"E46+E40","v":501.47908634832174},"computed debt"]
[null,null,null,null,null,null,null,501.4790859660327,"fixed debt",null,null,{"$f":"fixed_debt-computed_debt","v":-3.8228904486459214E-7},"diff2"]
[]
[null,"Sculpted Cash Flow",null,null,null,null,null,{"$f":"-computed_debt","v":-501.47908634832174},{"$f":"SUM(I64:I66)","v":57.142857142857146},{"$f":"SUM(J64:J66)","v":57.142857142857146},57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,0]
[null,"Sculpted IRR",null,null,{"$f":"IRR(72:72)","v":6.9421592728707182E-2}]
[]
[null,"DSCR",null,null,null,null,null,null,{"$f":"IF(I67,I61/I67)","v":1.75},{"$f":"IF(J67,J61/J67)","v":1.75},1.75,1.75,1.75,1.75,1.75,1.75,1.75,1.75,1.75,1.75,1.75,1.75,false]
[]
[null,"Debt Issues",null,null,null,"Pct Tot","Pct Sculpt","Target"]
[null,null,"Other Debt",null,{"$f":"E8","v":0},{"$f":"E78/$E$82","v":0}]
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[null,null,"Debt 3",null,{"$f":"E54","v":0},{"$f":"E81/$E$82","v":0},{"$f":"E81/$E$83","v":0}]
[null,null,null,"Total",{"$f":"SUM(E78:E81)","v":501.47908634832174},{"$f":"E82/$E$82","v":1}]
[null,null,null,"Sculpted",{"$f":"SUM(E79:E81)","v":501.47908634832174}]

{"sheet":"LLCR and Formula 3 Issues","index":9,"n_rows":82,"n_cols":23,"rows_kept":82,"cut":false,"hidden":false,"merged":[]}
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[null,"Total Project Cost",null,null,900]
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[null,"NPV of Debt Service",null,null,{"$f":"NPV(E7,I6:W6)","v":0},null,null,"SDS =CFADS/DSCR - ODS",null,null,"ALCR =NPV(CFADS - CFADS/DSCR)/Debt"]
[]
[null,"Max Tenor",null,null,{"$f":"MAX(E18,E22,E26)","v":14},{"$f":"_xlfn.FORMULATEXT(E10)","v":"=MAX(E18,E22,E26)"}]
[null,"Aggregate Switch",null,null,null,null,null,null,{"$f":"I1<=$E$10","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,false]
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[null,"IRR on Sculpted Debt",null,null,{"$f":"E72","v":4.6078976984951447E-2},4.6078976984951447E-2,{"$f":"F13-E13","v":0}]
[null,"NPV of Total Debt Service",null,null,{"$f":"NPV(F13,I12:W12)","v":580.08782599629137},{"$f":"_xlfn.FORMULATEXT(E14)","v":"=NPV(F13,I12:W12)"}]
[]
[null,"Debt 1"]
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[null,null,"Tenor",null,10]
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[null,"Debt 2"]
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[null,null,"Interest Rate",null,null,null,null,null,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05]
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[]
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[null,"Other Debt Service",null,null,null,null,null,null,{"$f":"I6","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[]
[null,"Issue 1: Percent",null,null,{"$f":"E18","v":10},null,null,null,{"$f":"I1<=$E33","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
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[null,"CFADS Adjusted",null,null,null,null,null,null,{"$f":"I29","v":100},{"$f":"J29","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"PV Debt Service",null,null,{"$f":"NPV(F37,I35:W35)","v":174.0263477988874},{"$f":"I19","v":0.02},{"$f":"E37-E39","v":0}]
[null,"PV CF",null,null,{"$f":"NPV(F37,I36:W36*I33:W33)","v":898.25850062422364}]
[null,"Debt 1",null,null,{"$f":"F17","v":174.0263477988874}]
[null,"LLCR 1",null,null,{"$f":"IF(E39,E38/E39,0.000000001)","v":5.1616235816331164}]
[]
[null,"Issue 2: Percent",null,null,{"$f":"E22","v":14},null,null,null,{"$f":"I1<=$E42","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,false]
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[null,"PV Debt Service",null,null,{"$f":"NPV(F45,I44:W44)","v":203.03074000937394},{"$f":"I23","v":0.05}]
[null,"Target",null,null,{"$f":"F21","v":203.03073909870196}]
[null,"Difference",null,null,{"$f":"E46-E45","v":-9.1067198582095443E-7}]
[]
[null,"Issue 3: Percent",null,null,{"$f":"E26","v":10},null,null,null,{"$f":"I1<=$E$49","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
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[null,"PV CF",null,null,{"$f":"NPV(F53,I29:W29*I49:W49)","v":736.00870514146948}]
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[]
[]
["Check"]
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[null,"Debt Service Other"]
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[null,null,"Total Debt Service",null,null,null,null,null,{"$f":"SUM(I62:I65)","v":57.142857142857153},57.142857142857153,57.142857142857153,57.142857142857153,57.142857142857153,57.142857142857153,57.142857142857153,57.142857142857153,57.142857142857153,57.142857142857153,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,0]
[]
[null,null,null,null,null,null,null,{"$f":"E45+E39+E55","v":580.0878269069633},"computed debt"]
[null,null,null,null,null,null,null,580.08782599629899,"fixed debt",null,null,{"$f":"fixed_debt-computed_debt","v":-9.1066431195940822E-7},"diff2"]
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[null,"Sculpted IRR",null,null,{"$f":"IRR(71:71)","v":4.6078976984951447E-2}]
[]
[null,"DSCR",null,null,null,null,null,null,{"$f":"IF(I66,I60/I66)","v":1.7499999999999998},{"$f":"IF(J66,J60/J66)","v":1.7499999999999998},1.7499999999999998,1.7499999999999998,1.7499999999999998,1.7499999999999998,1.7499999999999998,1.7499999999999998,1.7499999999999998,1.7499999999999998,1.75,1.75,1.75,1.75,false]
[]
[null,"Debt Issues",null,null,null,"Pct Tot","Pct Sculpt","Target"]
[null,null,"Other Debt",null,{"$f":"E8","v":0},{"$f":"E77/$E$81","v":0}]
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[null,null,null,"Sculpted",{"$f":"SUM(E78:E80)","v":580.0878269069633}]

{"sheet":"Circular Resolve","index":10,"n_rows":98,"n_cols":23,"rows_kept":98,"cut":false,"hidden":false,"merged":[]}
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[null,"DSCR Target",null,null,1.75]
[null,"Max Debt to Capital",null,null,0.6]
[null,"Total Project Cost",null,null,900]
[null,"Non-Sculpted Debt Service",null,null,null,null,null,null,0,{"$f":"I6","v":0},{"$f":"J6","v":0},{"$f":"K6","v":0},{"$f":"L6","v":0},{"$f":"M6","v":0}]
[null,"Interest Rate",null,null,0,null,null,"DSCR =CFADS/(SDS+ODS)",null,null,"LLCR =NPV(CFADS)/Debt",null,null,"LLCR =NPV(CFADS)/(Odebt + Sdebt)"]
[null,"NPV of Debt Service",null,null,{"$f":"NPV(E7,I6:W6)","v":0},null,null,"SDS =CFADS/DSCR - ODS",null,null,"ALCR =NPV(CFADS - CFADS/DSCR)/Debt"]
[]
[null,"Max Tenor",null,null,{"$f":"MAX(E18,E22,E26)","v":14},{"$f":"_xlfn.FORMULATEXT(E10)","v":"=MAX(E18,E22,E26)"}]
[null,"Aggregate Switch",null,null,null,null,null,null,{"$f":"I1<=$E$10","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,false]
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[null,"IRR on Sculpted Debt",null,null,{"$f":"E72","v":5.0799391773574509E-2},{"$f":"H85","v":5.0799395889043808E-2},{"$f":"F13-E13","v":4.1154692986822283E-9}]
[null,"NPV of Total Debt Service",null,null,{"$f":"NPV(F13,I12:W12)","v":562.7566990974243},{"$f":"_xlfn.FORMULATEXT(E14)","v":"=NPV(F13,I12:W12)"}]
[]
[null,"Debt 1"]
[null,null,"Percent",null,0.22,{"$f":"E17*E14","v":123.80647380143334},{"$f":"_xlfn.FORMULATEXT(F17)","v":"=E17*E14"}]
[null,null,"Tenor",null,12]
[null,null,"Interest Rate",null,0.03,null,null,null,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03]
[null,"Debt 2"]
[null,null,"Amount",null,{"$f":"1-E17-E25","v":0.33},{"$f":"E21*E14","v":185.70971070215003},{"$f":"_xlfn.FORMULATEXT(F21)","v":"=E21*E14"}]
[null,null,"Tenor",null,14]
[null,null,"Interest Rate",null,0.05,null,null,null,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05]
[null,"Debt 3"]
[null,null,"Amount",null,0.45,{"$f":"E25*E14","v":253.24051459384094},{"$f":"_xlfn.FORMULATEXT(F25)","v":"=E25*E14"}]
[null,null,"Tenor",null,14]
[null,null,"Interest Rate",null,0.06,null,null,null,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06,0.06]
[]
[null,"Total CFADS",null,null,null,null,null,null,{"$f":"I2","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"Other Debt Service",null,null,null,null,null,null,{"$f":"I6","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[]
[null,"Issue 1: Percent",null,null,{"$f":"E18","v":12},null,null,null,{"$f":"I1<=$E33","v":true},true,true,true,true,true,true,true,true,true,true,true,false,false,false]
[null,"Other Debt Service"]
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[null,"CFADS Adjusted",null,null,null,null,null,null,{"$f":"I29","v":100},{"$f":"J29","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"PV Debt Service (Check)",null,null,{"$f":"NPV(F37,I35:W35)","v":123.80647380143336},{"$f":"I19","v":0.03},{"$f":"_xlfn.FORMULATEXT(E37)","v":"=NPV(F37,I35:W35)"}]
[null,"PV CF",null,null,{"$f":"NPV(F37,I36:W36*I33:W33)","v":995.40039935675634},null,{"$f":"_xlfn.FORMULATEXT(E38)","v":"{=NPV(F37,I36:W36*I33:W33)}"}]
[null,"Debt 1",null,null,{"$f":"F17","v":123.80647380143334},null,{"$f":"_xlfn.FORMULATEXT(E39)","v":"=F17"}]
[null,"LLCR 1",null,null,{"$f":"IF(E39,E38/E39,0.000000001)","v":8.039970518449838},null,{"$f":"_xlfn.FORMULATEXT(E40)","v":"=IF(E39,E38/E39,0.000000001)"}]
[]
[null,"Issue 2: Percent",null,null,{"$f":"E22","v":14},null,null,null,{"$f":"I1<=$E42","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,false]
[null,"Other Debt Service",null,null,null,null,null,null,{"$f":"I35+I51","v":39.682714272380913},{"$f":"J35+J51","v":39.682714272380913},39.682714272380913,{"$f":"L35+L51","v":39.682714272380913},39.682714272380913,39.682714272380913,39.682714272380913,39.682714272380913,39.682714272380913,39.682714272380913,39.682714272380913,39.682714272380913,27.244857719235156,27.244857719235156,0]
[null,"Debt Service",null,null,{"$f":"E3","v":1.75},null,null,null,{"$f":"(I29/$E$44-I43)*I42","v":17.460142870476233},17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,29.897999423621989,29.897999423621989,0]
[null,"PV Debt Service",null,null,{"$f":"NPV(F45,I44:W44)","v":185.70970867285587},{"$f":"I23","v":0.05},{"$f":"_xlfn.FORMULATEXT(E45)","v":"=NPV(F45,I44:W44)"}]
[null,"Target",null,null,{"$f":"F21","v":185.70971070215003},null,{"$f":"_xlfn.FORMULATEXT(E46)","v":"=F21"}]
[null,"Difference",null,null,{"$f":"E46-E45","v":2.0292941655952745E-6},null,{"$f":"_xlfn.FORMULATEXT(E47)","v":"=E46-E45"}]
[]
[null,"Issue 3: Percent",null,null,{"$f":"E26","v":14},null,null,null,{"$f":"I1<=$E$49","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,false]
[null,"Other Debt Service"]
[null,"Debt Service",null,null,{"$f":"E56","v":3.6704174061220716},null,null,null,{"$f":"IF($E$51,I49*I29/$E$51)","v":27.244857719235156},{"$f":"IF($E$51,J49*J29/$E$51)","v":27.244857719235156},27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,0]
[null,"Other CFADS"]
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[null,"PV CF",null,null,{"$f":"NPV(F53,I29:W29*I49:W49)","v":929.49839270054429},null,{"$f":"_xlfn.FORMULATEXT(E54)","v":"{=NPV(F53,I29:W29*I49:W49)}"}]
[null,"Debt 3",null,null,{"$f":"F25","v":253.24051459384094},null,{"$f":"_xlfn.FORMULATEXT(E55)","v":"=F25"}]
[null,"LLCR 3",null,null,{"$f":"IF(E55,E54/E55)","v":3.6704174061220716},null,{"$f":"_xlfn.FORMULATEXT(E56)","v":"=IF(E55,E54/E55)"}]
[]
[]
["Check"]
[null,"CFADS",null,null,null,null,null,null,{"$f":"I2","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[]
[null,"Debt Service Other"]
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[null,"Debt Service 2",null,null,null,null,null,null,{"$f":"I44","v":17.460142870476233},17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,17.460142870476233,29.897999423621989,29.897999423621989,0]
[null,"Debt Service 3",null,null,null,null,null,null,{"$f":"I51","v":27.244857719235156},{"$f":"J51","v":27.244857719235156},27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,27.244857719235156,0]
[null,null,"Total Debt Service",null,null,null,null,null,{"$f":"SUM(I62:I65)","v":57.142857142857146},57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,0]
[]
[null,null,null,null,null,null,null,{"$f":"E45+E39+E55","v":562.75669706813017},"computed debt"]
[null,null,null,null,null,null,null,{"$f":"H86","v":562.7567138671875},"fixed debt",null,null,{"$f":"fixed_debt-computed_debt","v":1.6799057334537792E-5},"diff2"]
[]
[null,"Sculpted Cash Flow",null,null,null,null,null,{"$f":"-H69","v":-562.7567138671875},{"$f":"SUM(I63:I65)","v":57.142857142857146},{"$f":"SUM(J63:J65)","v":57.142857142857146},57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,0]
[null,"Sculpted IRR",null,null,{"$f":"IRR(H71:W71)","v":5.0799391773574509E-2}]
[]
[null,"DSCR",null,null,null,null,null,null,{"$f":"IF(I66,I60/I66)","v":1.75},{"$f":"IF(J66,J60/J66)","v":1.75},1.75,{"$f":"IF(L66,L60/L66)","v":1.75},1.75,1.75,1.75,1.75,1.75,1.75,1.75,1.75,1.75,1.75,false]
[]
[null,"Debt Issues",null,null,null,"Pct Tot","Pct Sculpt","Target"]
[null,null,"Other Debt",null,{"$f":"E8","v":0},{"$f":"E77/$E$81","v":0}]
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[null,null,"Debt 2",null,{"$f":"E45","v":185.70970867285587},{"$f":"E79/$E$81","v":0.32999999758398774},{"$f":"E79/$E$82","v":0.32999999758398774},{"$f":"E21","v":0.33}]
[null,null,"Debt 3",null,{"$f":"E53","v":253.24051459384094},{"$f":"E80/$E$81","v":0.45000000162269482},{"$f":"E80/$E$82","v":0.45000000162269482},{"$f":"E25","v":0.45}]
[null,null,null,"Total",{"$f":"SUM(E77:E80)","v":562.75669706813017},{"$f":"E81/$E$81","v":1}]
[null,null,null,"Sculpted",{"$f":"SUM(E78:E80)","v":562.75669706813017}]
[]
[]
[null,null,null,null,null,"Debt IRR",null,{"$f":"mult_sculpt(I2:W2,E3,E17,E18,E19,E21,E22,E23,E25,E26,E27)","v":5.0799395889043808E-2},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,null,null,"Debt Balance",null,562.7567138671875,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,null,null,"Debt Cash Flow",null,-562.7567138671875,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,0]
[null,null,null,null,null,"Debt Balance Issue",null,123.80647277832031,185.709716796875,253.24050903320313,562.7567138671875,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,null,null,"Cash Flow",null,100,100,100,100,100,100,100,100,100,100,100,100,100,100,100,0]
[null,null,null,null,null,"Overall Debt Service",null,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,57.142856597900391,0,0]
[null,null,null,null,null,"Non-Capture DS",null,39.682712554931641,39.682712554931641,39.682712554931641,39.682712554931641,39.682712554931641,39.682712554931641,39.682712554931641,39.682712554931641,39.682712554931641,39.682712554931641,39.682712554931641,39.682712554931641,27.244857788085938,27.244857788085938,0,0]
[null,null,null,null,null,"DS Capture",null,17.46014404296875,17.46014404296875,17.46014404296875,17.46014404296875,17.46014404296875,17.46014404296875,17.46014404296875,17.46014404296875,17.46014404296875,17.46014404296875,17.46014404296875,17.46014404296875,29.897998809814453,29.897998809814453,0,0]
[null,null,null,null,null,"LLCR",null,8.0399703979492188,0,3.6704175472259521,0,995.400390625,0,929.4984130859375,0,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"}]
[]
[]
[null,null,null,null,null,null,null,{"$f":"IRR(H87:W87)","v":5.0799390278142509E-2}]

{"sheet":"LLCR and Formula Change Int","index":11,"n_rows":101,"n_cols":23,"rows_kept":101,"cut":false,"hidden":false,"merged":[]}
[null,null,null,"Period",null,null,0,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15]
[null,"CFADS",null,null,null,null,null,null,100,100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"DSCR Target",null,null,1.75]
[null,"Max Debt to Capital",null,null,0.6]
[null,"Total Project Cost",null,null,900]
[null,"Non-Sculpted Debt Service",null,null,null,null,null,null,{"$f":"I101","v":48},{"$f":"J101","v":46.4},44.8,43.2,41.6,0,0,0,0,0,0,0,0,0,0]
[null,"Interest Rate",null,null,0.04,null,null,"DSCR =CFADS/(SDS+ODS)",null,null,"LLCR =NPV(CFADS)/Debt",null,null,"LLCR =NPV(CFADS)/(Odebt + Sdebt)"]
[null,"NPV of Debt Service",null,null,{"$f":"NPV(E7,I6:W6)","v":199.99999999999994},null,null,"SDS =CFADS/DSCR - ODS",null,null,"ALCR =NPV(CFADS - CFADS/DSCR)/Debt"]
[null,"Percent of Total Debt",null,null,{"$f":"E8/E15","v":0.31828677375429648}]
[]
[null,"Max Tenor",null,null,{"$f":"MAX(E20,E24,E28)","v":14},{"$f":"_xlfn.FORMULATEXT(E11)","v":"=MAX(E20,E24,E28)"}]
[null,"Aggregate Switch",null,null,null,null,null,null,{"$f":"I1<=$E$11","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,false]
[null,"Total Debt Service for Sculpting",null,null,{"$f":"E3","v":1.75},"Fixed",null,null,{"$f":"I2/$E$13*I12","v":57.142857142857146},57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,0]
[null,"IRR on Sculpted Debt",null,null,{"$f":"E77","v":3.3969873118673721E-2},3.3969873118673499E-2,{"$f":"F14-E14","v":-2.2204460492503131E-16}]
[null,"NPV of Total Debt Service",null,null,{"$f":"NPV(F14,I13:W13)","v":628.36415613798397},{"$f":"_xlfn.FORMULATEXT(E15)","v":"=NPV(F14,I13:W13)"}]
[null,"Sculpted Debt",null,null,{"$f":"E15-E8","v":428.36415613798403}]
[]
[null,"Debt 1"]
[null,null,"Percent of Total Debt",null,0.1,{"$f":"E19*E15","v":62.836415613798401}]
[null,null,"Tenor",null,12]
[null,null,"Interest Rate",null,null,null,null,null,0.03,{"$f":"I21+0.005","v":3.4999999999999996E-2},{"$f":"J21+0.005","v":3.9999999999999994E-2},{"$f":"K21+0.005","v":4.4999999999999991E-2},{"$f":"L21+0.005","v":4.9999999999999989E-2},{"$f":"M21+0.005","v":5.4999999999999986E-2},{"$f":"N21","v":5.4999999999999986E-2},{"$f":"O21","v":5.4999999999999986E-2},5.4999999999999986E-2,5.4999999999999986E-2,5.4999999999999986E-2,5.4999999999999986E-2,5.4999999999999986E-2,5.4999999999999986E-2,5.4999999999999986E-2]
[null,"Debt 2"]
[null,null,"Percent of Toal Debt",null,{"$f":"1-E9-E19-E27","v":0.47171322624570355},{"$f":"E23*E15","v":296.40768334900741}]
[null,null,"Tenor",null,14]
[null,null,"Interest Rate",null,null,null,null,null,0.02,0.02,{"$f":"J25+0.003","v":2.3E-2},2.5999999999999999E-2,2.8999999999999998E-2,3.2000000000000001E-2,3.5000000000000003E-2,{"$f":"O25","v":3.5000000000000003E-2},{"$f":"P25","v":3.5000000000000003E-2},3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2]
[null,"Debt 3"]
[null,null,"Amount",null,0.11,{"$f":"E27*E15","v":69.120057175178232}]
[null,null,"Tenor",null,10]
[null,null,"Interest Rate",null,null,null,null,null,0.04,{"$f":"I29+0.005","v":4.4999999999999998E-2},{"$f":"J29+0.005","v":4.9999999999999996E-2},5.4999999999999993E-2,5.9999999999999991E-2,6.4999999999999988E-2,6.9999999999999993E-2,7.4999999999999997E-2,0.08,8.5000000000000006E-2,9.0000000000000011E-2,9.5000000000000015E-2,0.10000000000000002,0.10500000000000002,0.11000000000000003]
[]
[null,"Total CFADS ",null,null,null,null,null,null,{"$f":"I2","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,"Other Debt Service",null,null,null,null,null,null,{"$f":"I6","v":48},46.4,44.8,43.2,41.6,0,0,0,0,0,0,0,0,0,0]
[null,"Total Sculpted Debt Service",null,null,{"$f":"E3","v":1.75},null,null,null,{"$f":"I31/$E$33-I32","v":9.1428571428571459},{"$f":"J31/$E$33-J32","v":10.742857142857147},12.342857142857149,13.942857142857143,15.542857142857144,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146]
[]
[null,"Issue 1: Percent",null,null,{"$f":"E20","v":12},null,null,null,{"$f":"I1<=$E35","v":true},true,true,true,true,true,true,true,true,true,true,true,false,false,false]
[null,null,"Other Debt Service"]
[null,null,"Debt Service",null,{"$f":"E43","v":14.589549182756372},null,null,null,{"$f":"IF($E37>1,(I31/$E$37-I36)*I35,0)","v":6.854221384591626},{"$f":"IF($E37>1,(J31/$E$37-J36)*J35,0)","v":6.854221384591626},6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,0,0,0]
[null,null,"CFADS Adjusted",null,null,null,null,null,{"$f":"I31","v":100},{"$f":"J31","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100]
[null,null,"Interest Rate Index",null,null,null,null,1,{"$f":"H39*(1+I21)","v":1.03},{"$f":"I39*(1+J21)","v":1.0660499999999999},1.108692,1.15858314,1.216512297,1.2834204733349999,1.3540085993684248,1.428479072333688,1.5070454213120408,1.5899329194842029,1.6773792300558339,1.7696350877089047,1.8669650175328942,1.9696480934972034,2.0779787386395494]
[null,null,"PV Debt Service",null,{"$f":"SUMPRODUCT(I37:W37*I35:W35/I39:W39)","v":62.836415613798401},null,{"$f":"E40-E42","v":0}]
[null,null,"PV CF",null,{"$f":"SUMPRODUCT(I38:W38*I35:W35/I39:W39)","v":916.75497606563215}]
[null,null,"Debt 1",null,{"$f":"F19","v":62.836415613798401}]
[null,null,"LLCR 1",null,{"$f":"IF(E42,E41/E42,0.000000001)","v":14.589549182756372}]
[]
[null,"Issue 2: Percent",null,null,{"$f":"E24","v":14},null,null,null,{"$f":"I1<=$E45","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,false]
[null,null,"Other Debt Service",null,null,null,null,null,{"$f":"I37+I55+I6","v":63.980740277767026},{"$f":"J37+J55+J6","v":62.380740277767025},60.780740277767023,59.180740277767029,57.580740277767028,15.980740277767026,15.980740277767026,15.980740277767026,15.980740277767026,15.980740277767026,6.854221384591626,6.854221384591626,0,0,0]
[null,null,"Debt Service",null,{"$f":"E3","v":1.75},null,null,null,{"$f":"(I31/$E$47-I46)*I45","v":-6.8378831349098803},-5.2378831349098789,-3.6378831349098775,-2.0378831349098832,-0.43788313490988173,41.16211686509012,41.16211686509012,41.16211686509012,41.16211686509012,41.16211686509012,50.288635758265521,50.288635758265521,57.142857142857146,57.142857142857146,0]
[null,null,"Interest Rate Index",null,null,null,null,1,{"$f":"H48*(1+I25)","v":1.02},{"$f":"I48*(1+J25)","v":1.0404},1.0643292,1.0920017592,1.1236698102167999,1.1596272441437376,1.2002141976887684,1.2422216946078752,1.2856994539191509,1.330698934806321,1.3772733975245421,1.4254779664379009,1.4753696952632274,1.5270076345974402,1.5804529018083504]
[null,null,"PV Debt Service",null,{"$f":"SUMPRODUCT(I47:W47*I45:W45/I48:W48)","v":296.40768388912903}]
[null,null,"Target",null,{"$f":"F23","v":296.40768334900741}]
[null,null,"Difference",null,{"$f":"E50-E49","v":-5.4012161854188889E-7}]
[]
[null,"Issue 3: Percent",null,null,{"$f":"E28","v":10},null,null,null,{"$f":"I1<=$E$53","v":true},true,true,true,true,true,true,true,true,true,false,false,false,false,false]
[null,null,"Other Debt Service"]
[null,null,"Debt Service",null,{"$f":"E61","v":10.957080259240758},null,null,null,{"$f":"IF($E$55,I53*I31/$E$55)","v":9.1265188931754011},{"$f":"IF($E$55,J53*J31/$E$55)","v":9.1265188931754011},9.1265188931754011,9.1265188931754011,9.1265188931754011,9.1265188931754011,9.1265188931754011,9.1265188931754011,9.1265188931754011,9.1265188931754011,0,0,0,0,0]
[null,null,"Other CFADS"]
[null,null,"Interest Rate Index",null,null,null,null,1,{"$f":"H57*(1+I29)","v":1.04},{"$f":"I57*(1+J29)","v":1.0868},1.14114,1.2039027,1.276136862,1.35908575803,1.4542217610921,1.5632883931740074,1.6883514646279281,1.8318613391213019,1.9967288596422192,2.18641810130823,2.4050599114390532,2.6575912021401535,2.9499262343755706]
[null,null,"PV Debt Service",null,{"$f":"SUMPRODUCT(I55:W55*I53:W53/I57:W57)","v":69.120057175178232}]
[null,null,"PV CF",null,{"$f":"SUMPRODUCT(I31:W31*I53:W53/I57:W57)","v":757.35401399173793}]
[null,null,"Debt 3",null,{"$f":"F27","v":69.120057175178232}]
[null,null,"LLCR 3",null,{"$f":"IF(E60,E59/E60)","v":10.957080259240758}]
[]
[]
["Check"]
[null,"CFADS",null,null,null,null,null,null,{"$f":"I2","v":100},100,100,100,100,100,100,100,100,100,100,100,100,100,100]
[]
[null,"Debt Service Other",null,null,null,null,null,null,{"$f":"I6","v":48},{"$f":"J6","v":46.4},44.8,43.2,41.6,0,0,0,0,0,0,0,0,0,0]
[null,"Debt Service 1",null,null,null,null,null,null,{"$f":"I37","v":6.854221384591626},6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,6.854221384591626,0,0,0]
[null,"Debt Service 2",null,null,null,null,null,null,{"$f":"I47","v":-6.8378831349098803},-5.2378831349098789,-3.6378831349098775,-2.0378831349098832,-0.43788313490988173,41.16211686509012,41.16211686509012,41.16211686509012,41.16211686509012,41.16211686509012,50.288635758265521,50.288635758265521,57.142857142857146,57.142857142857146,0]
[null,"Debt Service 3",null,null,null,null,null,null,{"$f":"I55","v":9.1265188931754011},{"$f":"J55","v":9.1265188931754011},9.1265188931754011,9.1265188931754011,9.1265188931754011,9.1265188931754011,9.1265188931754011,9.1265188931754011,9.1265188931754011,9.1265188931754011,0,0,0,0,0]
[null,null,"Total Debt Service",null,null,null,null,null,{"$f":"SUM(I67:I70)","v":57.142857142857146},{"$f":"SUM(J67:J70)","v":57.142857142857146},57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,0]
[]
[null,null,null,null,null,null,null,{"$f":"E49+E42+E60+E90","v":628.3641566781057},"computed debt"]
[null,null,null,null,null,null,null,628.36415613897918,"fixed debt",null,null,{"$f":"fixed_debt-computed_debt","v":-5.3912651765131159E-7},"diff2"]
[]
[null,"Sculpted Cash Flow",null,null,null,null,null,{"$f":"-H74","v":-628.36415613897918},{"$f":"SUM(I67:I70)","v":57.142857142857146},{"$f":"SUM(J67:J70)","v":57.142857142857146},57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,57.142857142857146,0]
[null,"Sculpted IRR",null,null,{"$f":"IRR(76:76)","v":3.3969873118673721E-2}]
[]
[null,"DSCR",null,null,null,null,null,null,{"$f":"IF(I71,I65/I71)","v":1.75},{"$f":"IF(J71,J65/J71)","v":1.75},1.75,1.75,1.75,1.75,1.75,1.75,1.75,1.75,1.75,1.75,1.75,1.75,false]
[]
[null,"Debt Issues",null,null,null,"Pct Tot","Pct Sculpt","Target"]
[null,null,"Other Debt",null,{"$f":"E8","v":199.99999999999994},{"$f":"E82/$E$86","v":0.31828677348070744}]
[null,null,"Debt 1",null,{"$f":"E40","v":62.836415613798401},{"$f":"E83/$E$86","v":9.9999999914043222E-2},{"$f":"E83/$E$87","v":0.14668924706745909},{"$f":"E19","v":0.1}]
[null,null,"Debt 2",null,{"$f":"E49","v":296.40768388912903},{"$f":"E84/$E$86","v":0.47171322669980187},{"$f":"E84/$E$87","v":0.69195258115833591},{"$f":"E23","v":0.47171322624570355}]
[null,null,"Debt 3",null,{"$f":"E58","v":69.120057175178232},{"$f":"E85/$E$86","v":0.10999999990544754},{"$f":"E85/$E$87","v":0.16135817177420497},{"$f":"E27","v":0.11}]
[null,null,null,"Total",{"$f":"SUM(E82:E85)","v":628.36415667810559},{"$f":"E86/$E$86","v":1}]
[null,null,null,"Sculpted",{"$f":"SUM(E83:E85)","v":428.3641566781057}]
[]
["Other Debt Service"]
[null,"Debt Balance",null,null,200]
[null,"Interest Rate",null,null,{"$f":"E7","v":0.04}]
[null,"Repayment Percent",null,null,null,null,null,null,{"$f":"1/5","v":0.2},{"$f":"1/5","v":0.2},{"$f":"1/5","v":0.2},{"$f":"1/5","v":0.2},{"$f":"1/5","v":0.2}]
[null,"Repayment Amount",null,null,null,null,null,null,{"$f":"I92*$E$90","v":40},{"$f":"J92*$E$90","v":40},{"$f":"K92*$E$90","v":40},{"$f":"L92*$E$90","v":40},{"$f":"M92*$E$90","v":40}]
[]
[null,"Balance"]
[null,"Opening",null,null,null,null,null,null,{"$f":"H98","v":200},{"$f":"I98","v":160},{"$f":"J98","v":120},{"$f":"K98","v":80},{"$f":"L98","v":40}]
[null,"Repayment",null,null,null,null,null,null,{"$f":"I93","v":40},{"$f":"J93","v":40},{"$f":"K93","v":40},{"$f":"L93","v":40},{"$f":"M93","v":40}]
[null,"Closing",null,null,null,null,null,{"$f":"E90","v":200},{"$f":"I96-I97","v":160},{"$f":"J96-J97","v":120},{"$f":"K96-K97","v":80},{"$f":"L96-L97","v":40},{"$f":"M96-M97","v":0}]
[]
[null,"Interest",null,null,null,null,null,null,{"$f":"I96*$E$91","v":8},{"$f":"J96*$E$91","v":6.4},{"$f":"K96*$E$91","v":4.8},{"$f":"L96*$E$91","v":3.2},{"$f":"M96*$E$91","v":1.6}]
[null,"Debt Service",null,null,null,null,null,null,{"$f":"I100+I97","v":48},{"$f":"J100+J97","v":46.4},{"$f":"K100+K97","v":44.8},{"$f":"L100+L97","v":43.2},{"$f":"M100+M97","v":41.6}]