I now wanna move down to the sources and uses. I completed the uses side of this but I want to actually now go ahead and complete the sources side because this is gonna depend on what's in our capital structure. So I'm gonna link my sources to that toggle switch so it'll be equals, choose. And I'll go up and grab D17. I'll anchor that and then I will be able to choose in this situation, standard will be the first, Unitranche will be the second, and lease will be the third. And it'll pull into the uses table whatever's in those three respective columns. And I can actually just go ahead and copy that down. And what we see here is the capital structure under the sale-leaseback, which is number three. What I'm gonna do now is just put it back into the standard and see if that kicks in. And it does. We see the first, second mezzanine as well as the equity. And same thing for the Unitranche. So that works nicely. Now what I need to do is calculate my debt to EBITDA because that's obviously important in this type of transaction and a good check as well to make sure that we are in a good place to start the deal and that going forward in the right direction as well we'll be tracking debt to EBITDA over the life of the deal. So this is done cumulatively because we just tend to wanna see the debt roll up to the debt capacity, which is the overall allowance for debt to EBITDA for the entire deal. So this tends to roll up and what it also allows us to do is it will allow us to look at, for example, in the standard capital structure where we are on sort of a senior to debt to EBITDA. Because the first, second and revolver are all gonna be part of the senior debt EBITDA. So that's very important. So we generally just wanna see kind of senior debt to EBITDA and we wanna see total debt to EBITDA. Some of the individual tranches, it's kind of nice to see on an individual basis, but generally we don't need to know that. So first things first, for the revolver, I'm simply gonna take the amount that is in F35 and I'm gonna divide it by our EBITDA, which we have up at the top. And that's gonna get anchored 'cause the EBITDA is not gonna change. So I can copy that down. However, again, I do wanna see this cumulatively, so it's gonna be the F36 over anchored F6 plus the previous tranche of debt to EBITDA. And as I copy this down, it will continue to be cumulative. So we see here in this situation for the Unitranche it has all of these debt components rolled into one, including the mezzanine. Could have mezzanine in it as well. We see that's at 5.1 times. And if I were to go back to the standard capital structure we see that it rolls up nicely as well to our total debt to EBITDA 5.1 times. And we would have to, you know, check in with the high yield group, leverage finance group, and make sure that we are still okay here for this company and this is the table that they're gonna want to see to help make that decision. So we don't care about the equity to EBITDA basis, just simply isn't looked at that way. I do wanna go ahead and total up my sources here before I go any further because I wanna make sure, of course, that my total sources under any of the structures matches my total uses and it looks like they do. So the next thing I'm gonna want to do here is I want to deal with the debt as a percentage of the capital structure. And here I am gonna look at this on an individual basis as opposed to just on a cumulative basis. So what I will do here is I will simply take the individual components in column F and divide it by the total capital anchored in F43 and I can copy that down in here. I do wanna see actually what my equity is as a percentage of the total capital structure. The last thing I want to do is I want to calculate or I wanna pull into the table what my spread is, as well as what the total borrowing rate is. And this is gonna change, of course, based on that selector switch. So for the revolver, I've got the revolver when I've got a a standard capital structure and a sale-leaseback capital structure. So in this situation I'm gonna do equals choose, go up to my switch, anchor it, and then my table at the top is set up very nicely for this. So for the standard I've got a rate, for the Unitranche I don't need a rate so I want to go ahead and type N/A. And then for the sale-leaseback I've got a rate I've got a spread. So I can go ahead and copy this down as far as my second lien goes it is gonna change obviously for the for the Unitranche. It's gonna be the same thing for the rate. So it's gonna be equals, choose, go up and get my switch, anchor it, comma, and then I'm want to just go up here and get what I have at this table which is N/A for the Unitranche.

And then standard and lease columns, we do have obviously a a rate there, copy that down. And so when I get to my Unitranche, I don't have a spread here for the Unitranche, it's not necessary to show that. I do have a rate, but I only want the rate to show up when I'm in Unitranche. So it's gonna be sort of the same thing but just done a little bit differently. So I've got the capital structure choice of one, I'll have N/A, then I will have for the Unitranche, the total interest rate of 9.95 and then again N/A for under the sale-leaseback. For the bridge loan, the bridge loan is only going to be present when we do the sale-leaseback. So that's gonna be a little bit different here. So if I actually... So if I'm getting lazy and I don't want to copy, this isn't really a copyable formula, I can copy the link to the selector switch and what I'm showing here is that the sale-leaseback is the third choice. So I've got N/A, N/A, and then comma. I'll go up and get my bridge loan rate under the sale-leaseback, which is the 10%. And that's showing as N/A because I'm not in that choice. And for the mezzanine, again, we don't need to spread. Mezzanine tends to not be priced off of a spread. It can be priced off of a spread. It usually is just sort of a shopped rate 'cause it's a private debt product. But I can take the formula here from my first lien because that's gonna work under the same circumstances. So basically we're gonna have Mezzanine when we have standard and when we have a sale-leaseback we're not gonna have second lien when we have the Unitranche. So I just wanna go back 'cause I'm neurotic about testing. Make sure that this is working. And under Unitranche it looks pretty good and under sale-leaseback it looks pretty good as well. I probably could have... My second lien, which is not gonna be in play when we have the sale-leaseback, I probably could have just to be consistent done in N/A here as well. But you know what, I'll just leave it for now. And what we have here essentially is the completed capital structure. The average life, and the repaid by year. I need to do that once we get the debt schedule modeled out. So for right now, I'm gonna leave this where it is.