We're now moving on to the second lien debt, continuing our debt waterfall. The cash available for the second lien debt acceleration is going to be the net of what was available for the first lien acceleration less any accelerated repayment. (keyboard clacking) And again, just to reiterate the mandatory repayment will already have been deducted from our cashflow available for acceleration, so we don't need to double count that. The ending balance for the second lien going into 2016 we're going to get from our balance sheet in the combo year. As of the deal date, and this will roll into 2016, the mandatory repayment formula is gonna be just as it was above. It's going to be a minus min, because we want to show our repayments as negatives of the beginning balance so that we can never repay more than what we owe. Set against the ending balance, anchored, times the assumption for the second lien repayment, which is currently zero. And that will again change. If we had a 25% repayment in the first year, we see that that would be coming in correctly. For the accelerated, we can now go up and reference our cash flow available for the second lien acceleration, and that's going to be the minus min of the sum of, or the net of these two and the cash flow available. (keyboard clacking) So again, if this is 600, that's only gonna take 511 and we can add these up. We can now go ahead and reference our interest rate. Before we add these up, we just wanna link this to our switch. So currently our switch is set to, "On," and that's not uncommon for second lien, in theory, that is debt that tends to not have a structured amortization schedule but that does have the ability to be prepaid. So we'll go ahead and add these up, and now we're gonna go and get our interest expense. To calculate the interest in this sale, we're going to take an if statement, go back to our LBO page and say, "if the interest rate for the second lien is equal to N/A, then we want zero." If it's not, we want that rate times the average of the ending balance.

(keyboard clacking) And we want to make this a negative, as well, so that our interest shows as a negative. The last thing I wanna do is I just want to check to make sure that I have anchored my cells needed for the interest. And to do that, I want to go in and anchor the reference to the interest rate cell in both components of the formula. And then I also wanna make sure that I'm anchoring the link to the accelerated switch here, which is going to also stay anchored at E 45. And I also probably just wanna go check up and see that I did that in the first lien, and I did not. So we've caught that, and now it looks as though we have a good set of formulas to move forward with.