We're now going to model the bridge loan. The bridge loan is linked to the sale leaseback transaction. We're going to save the discussion of that transaction until the very end. But I would like to model the infrastructure of this loan into the debt page so that we can at least have it done. The way the bridge loan is going to work is that in order to get the sale leaseback into place, that transaction usually takes some time, it involves the sale of property. And therefore there's a gap between when the transaction closes and the execution of the sale leaseback transaction which requires a loan to be in place because without that loan, the transaction therefore is not fully funded. The assets are not fully paid for. Once the assets are sold, that loan can be repaid. And again, we'll go over this at the end, but the bridge loan is designed to be temporarily in place. And what that means is that we're basically going to link the repayment of the bridge loan to the completion of the sale leaseback transaction. So one thing to notice here is that there is no accelerated repayment of a bridge loan. Bridge loan's temporary so there's not much accelerating that you can do with it. It either gets paid back or it doesn't get paid back in time in which case there's some pretty serious ramifications for it, including exploding into equity. What we're gonna do is link our ending bridge loan balance again to our proforma balance sheet in the combo year. And because I don't have this modeled out yet, I don't have the ability to to switch into this so that we can see what'll happen, but we'll go back and we'll test this again at the end. That's gonna become my beginning balance. So for the repayment of this loan, the repayment is basically going to be linked then to the sale leaseback as previously discussed and the date that we're in, because the date that we're in is going to tell us whether or not we have accomplished the sale leaseback. So what we're gonna do here is we're going to say if J3 is equal to the date that we've set on the LBO deal assumptions page, which is LBO D32 and we'll anchor that. Then we want the full repayment of the bridge loan, which will be a negative back on the debt page, the beginning balance. If not for simplicity's sake, we're simply going to model a zero. We're gonna say don't repay it. So again, what we're saying here is if there's a bridge loan, and I can just go ahead and put some some very temporary numbers in here just so we can see what's happening. If there's a bridge loan, and if we are in that year which the bridge loan is supposed to be redeemed, which in this case is within one year of the close of the transaction, that's what this assumption says here, then repay that loan, which it does. If we had set that bridge loan for 2017, then we would see that this would not have repaid. And so that's effectively how this is gonna work. And again, we'll come back and revisit this in a moment. For now, let's just simply wrap up the calculations. The interest is going to work the same way as the previous charges of debt. If the interest rate equals N/A, as it does, give us a zero.

If it doesn't, take that interest rate and multiply it by the average of the ending balances. And then we want that to be negative so I'll just add a negative one there and that should work for us. And the last thing we wanna do here is just anchor the links to the rate on the LBO tab so that they don't walk when we copy across. And then while we're at it, we should also anchor this bridge repayment so that it's always repaying the original amount. So the I61 needs to be anchored as well. And then as we copy across, if the repayment does get extended out beyond a year, that's not realistic in this case because as we said something would have to happen with this bridge loan, but from a modeling perspective that repayment should be anchored to that original amount. And then just to make sure once more that it's all flowing correctly, I want to go ahead and turn my switch to the sale leaseback and take a look at how that's working. I've got the bridge loan coming on, being repaid, and I've got the interest being calculated as well. And we'll double check everything once we copy across. But for now, the formulas look to be in good shape.