Now let's work on our sources of funds. And here we have three line items. We have the revolving credit facility, which actually won't be used to fund our CapEx and soft costs. During the construction phase, we have the syndicated loan of 1850, and then we have the sponsor's equity contribution. Now the sponsor's equity contribution will be equal to the total uses of funds minus the syndicated loan. Again, we're gonna leave out the revolving credit facility because it's not drawn upfront. And now we can compute our total sources of funds by taking the sum of the syndicated loan and the equity contribution.

So the next question is, how are we gonna draw down or how are we gonna spread the financing over the three years during the construction period? So the way we're gonna do it here is we're gonna calculate the percent of spend for each of the three years. So we'll take the year one use of funds and divide it by the total. And that gives us 14.3, and we can do the same for the next two years. Again, take the use of funds divided by the total and do the same for year three. Now we're gonna use this percent of spend to spread the financing across three years, starting with a syndicated loan.

So we can take the syndicated loan of 1850, lock that in, and multiply times the percent of spend for each of the years.

And we can do the same for our equity financing. Take the total equity, lock that in and multiply times our percent of spend and copy that right now. This method is gonna allow us to draw down on both the syndicated loan as well as the equity contribution on a pro rata basis.

There are a few more things over here that we need to calculate in the sources of funds section. The first is the interest rate on the revolving credit facility, and that's just gonna be a spread over LIBOR. So we have a spread of 2%, and we have a LIBOR assumption here of also 2%. We also have a commitment fee for both the revolving credit facility and the syndicated loan, and that is because there will be a fee charged by the bank on any undrawn portion of these facilities.

We have an option here to roll up the interest on the syndicated loan during the construction phase. And over here we have a line for the calculation of the average life, which we'll have to wait until we've modeled out our debt schedule.

Now we have a few more things down here, one of which is the equity contribution as a percentage of capital. And we can actually calculate that by taking the 834.8 equity contribution divided by the total sources of funds. And we can see that sponsors are gonna contribute about 31% of the total funding. And then we have a few more metrics, one of which is the equity IRR, and that's gonna have to wait until the end of our model to be calculated. We have an assumption for LIBOR of 2%. We have also an assumption for our debt service coverage ratio of 1.3%, and we have here space to calculate the LLCR, also known as the loan life coverage ratio.