%UXJVDQYLVQಣ %UXNVDQYLVQಣ 8VHU 0DQXDO LQJ LQJ .ºOH IU\VHಣ VNDE & ) & ), )ULGJH )UHH]HU .
&217(176 6DIHW\ LQIRUPDWLRQ 6DIHW\ LQVWUXFWLRQV ,QVWDOODWLRQ &RQWURO SDQHO 'DLO\ XVH +LQWV DQG WLSV &DUH DQG FOHDQLQJ 7URXEOHVKRRWLQJ 1RLVHV 7HFKQLFDO GDWD ,QIRUPDWLRQ IRU WHVW LQVWLWXWHV &86720(5 &$5( $1' 6(59,&( $OZD\V XVH RULJLQDO VSDUH SDUWV :KHQ FRQWDFWLQJ RXU $XWKRULVHG 6HUYLFH &HQWUH HQVXUH WKDW \RX KDYH WKH IROORZLQJ GDWD DYDLODEOH 0RGHO 6HULDO 1XPEHU 7KH LQIRUPDWLRQ FDQ EH IRXQG RQ WKH UDWLQJ SODWH :DUQLQJ &DXWLRQ 6DIHW\ LQIRUPDWLRQ *HQHUDO LQIRUPD
ವ ವ ವ ವ ವ ವ &KLOGUHQ DJHG IURP WR \HDUV DUH DOORZHG WR ORDG DQG XQORDG WKH DSSOLDQFH SURYLGHG WKDW WKH\ KDYH EHHQ SURSHUO\ LQVWUXFWHG 7KLV DSSOLDQFH PD\ EH XVHG E\ SHUVRQV ZLWK YHU\ H[WHQVLYH DQG FRPSOH[ GLVDELOLWLHV SURYLGHG WKDW WKH\ KDYH EHHQ SURSHUO\ LQVWUXFWHG &KLOGUHQ RI OHVV WKDQ \HDUV RI DJH VKRXOG EH NHSW DZD\ IURP WKH DSSOLDQFH XQOHVV FRQWLQXRXVO\ VXSHUYLVHG 'R QRW OHW FKLOGUHQ SOD\ ZLWK WKH DSSOLDQFH &KLOGUHQ VKDOO QRW FDUU\ RXW FOHDQLQJ DQG XVHU PDLQWHQDQFH RI WKH DSSOLDQFH ZLWK
ವ ವ ವ ವ ವ ವ :$51,1* 'R QRW XVH HOHFWULFDO DSSOLDQFHV LQVLGH WKH IRRG VWRUDJH FRPSDUWPHQWV RI WKH DSSOLDQFH XQOHVV WKH\ DUH RI WKH W\SH UHFRPPHQGHG E\ WKH PDQXIDFWXUHU 'R QRW XVH ZDWHU VSUD\ DQG VWHDP WR FOHDQ WKH DSSOLDQFH &OHDQ WKH DSSOLDQFH ZLWK D PRLVW VRIW FORWK 2QO\ XVH QHXWUDO GHWHUJHQWV 'R QRW XVH DEUDVLYH SURGXFWV DEUDVLYH FOHDQLQJ SDGV VROYHQWV RU PHWDO REMHFWV :KHQ WKH DSSOLDQFH LV HPSW\ IRU ORQJ SHULRG VZLWFK LW RII GHIURVW FOHDQ GU\ DQG OHDYH WKH GRRU RSHQ WR SUHYHQW PRXOG I
ವ 7KH DSSOLDQFH PXVW EH HDUWKHG ವ 0DNH VXUH WKDW WKH SDUDPHWHUV RQ WKH UDWLQJ SODWH DUH FRPSDWLEOH ZLWK WKH HOHFWULFDO UDWLQJV RI WKH PDLQV SRZHU VXSSO\ ವ $OZD\V XVH D FRUUHFWO\ LQVWDOOHG VKRFNSURRI VRFNHW ವ 0DNH VXUH QRW WR FDXVH GDPDJH WR WKH HOHFWULFDO FRPSRQHQWV H J PDLQV SOXJ PDLQV FDEOH FRPSUHVVRU &RQWDFW WKH $XWKRULVHG 6HUYLFH &HQWUH RU DQ HOHFWULFLDQ WR FKDQJH WKH HOHFWULFDO FRPSRQHQWV ವ 7KH PDLQV FDEOH PXVW VWD\ EHORZ WKH OHYHO RI WKH PDLQV SOXJ ವ &RQQHFW WKH PDLQV SOXJ WR WKH PDLQV
6HUYLFH ವ 7R UHSDLU WKH DSSOLDQFH FRQWDFW WKH $XWKRULVHG 6HUYLFH &HQWUH 8VH RULJLQDO VSDUH SDUWV RQO\ ವ 3OHDVH QRWH WKDW VHOI UHSDLU RU QRQ SURIHVVLRQDO UHSDLU FDQ KDYH VDIHW\ FRQVHTXHQFHV DQG PLJKW YRLG WKH JXDUDQWHH ವ 7KH IROORZLQJ VSDUH SDUWV ZLOO EH DYDLODEOH IRU \HDUV DIWHU WKH PRGHO KDV EHHQ GLVFRQWLQXHG WKHUPRVWDWV WHPSHUDWXUH VHQVRUV SULQWHG FLUFXLW ERDUGV OLJKW VRXUFHV GRRU KDQGOHV GRRU KLQJHV WUD\V DQG EDVNHWV 3OHDVH QRWH WKDW VRPH RI WKHVH VSDUH SDUWV DUH RQO\ DYDLODEOH WR SURIH
D3 D1 'LPHQVLRQV W1 90 D2 ° A W2 B H1 W3 2YHUDOO GLPHQVLRQV { 6SDFH UHTXLUHG LQ XVH t + PP : PP ' PP { WKH KHLJKW ZLGWK DQG GHSWK RI WKH DSSOLDQFH ZLWKRXW WKH KDQGOH DQG IHHW 6SDFH UHTXLUHG LQ XVH t + $ % PP : PP ' PP $ PP % PP t WKH KHLJKW ZLGWK DQG GHSWK RI WKH DSSOLDQFH LQFOXGLQJ WKH KDQGOH SOXV WKH VSDFH QHFHVVDU\ IRU IUHH FLUFXODWLRQ RI WKH FRROLQJ DLU 2YHUDOO VSDFH UHTXLUHG LQ XVH u + $ % PP : PP '
DOORZ GRRU RSHQLQJ WR WKH PLQLPXP DQJOH SHUPLWWLQJ UHPRYDO RI DOO LQWHUQDO HTXLSPHQW /RFDWLRQ 7R HQVXUH DSSOLDQFH V EHVW IXQFWLRQDOLW\ \RX VKRXOG QRW LQVWDOO WKH DSSOLDQFH LQ WKH QHDUE\ RI WKH KHDW VRXUFH RYHQ VWRYHV UDGLDWRUV FRRNHUV RU KREV RU LQ D SODFH ZLWK GLUHFW VXQOLJKW 0DNH VXUH WKDW DLU FDQ FLUFXODWH IUHHO\ DURXQG WKH EDFN RI WKH FDELQHW 7KLV DSSOLDQFH VKRXOG EH LQVWDOOHG LQ D GU\ ZHOO YHQWLODWHG LQGRRU SRVLWLRQ 7KLV DSSOLDQFH LV LQWHQGHG WR EH XVHG DW DPELHQW WHPSHUDWXUH UDQJLQJ IUR
&21752/ 3$1(/ 1 2 7RXFK WKH WHPSHUDWXUH UHJXODWRU XQWLO WKH UHTXLUHG WHPSHUDWXUH LV VHOHFWHG 7KH VHW WHPSHUDWXUH ZLOO EH UHDFKHG ZLWKLQ KRXUV $IWHU D SRZHU IDLOXUH WKH VHW WHPSHUDWXUH UHPDLQV VWRUHG )DVW)UHH]H IXQFWLRQ 4 3 7HPSHUDWXUH LQGLFDWRU /(' )DVW)UHH]H LQGLFDWRU )DVW)UHH]H EXWWRQ 7HPSHUDWXUH UHJXODWRU 21 2)) EXWWRQ 6ZLWFKLQJ RQ ,QVHUW WKH SOXJ LQWR WKH ZDOO VRFNHW 7RXFK WKH WHPSHUDWXUH UHJXODWRU EXWWRQ LI DOO /(' LQGLFDWRUV DUH RII 6ZLWFKLQJ RII .
'$,/< 86( 3RVLWLRQLQJ WKH GRRU VKHOYHV 9HJHWDEOH GUDZHUV 7R SHUPLW VWRUDJH RI IRRG SDFNDJHV RI YDULRXV VL]HV WKH GRRU VKHOYHV FDQ EH SODFHG DW GLIIHUHQW KHLJKWV 7KHUH DUH VSHFLDO GUDZHUV LQ WKH ERWWRP SDUW RI WKH DSSOLDQFH VXLWDEOH IRU VWRUDJH RI IUXLWV DQG YHJHWDEOHV *UDGXDOO\ SXOO WKH VKHOI XS XQWLO LW FRPHV IUHH 5HSRVLWLRQ DV UHTXLUHG 7HPSHUDWXUH LQGLFDWRU )RU SURSHU VWRUDJH RI IRRG WKH UHIULJHUDWRU LV HTXLSSHG ZLWK WKH WHPSHUDWXUH LQGLFDWRU 7KH V\PERO RQ WKH VLGH ZDOO RI WKH DSSOLDQ
A B %HIRUH VZLWFKLQJ RII WKH DSSOLDQFH UHPHPEHU WR WXUQ RII WKH IDQ E\ SUHVVLQJ WKH EXWWRQ $ 7KH JUHHQ OLJKW % GLVDSSHDUV )UHH]LQJ IUHVK IRRG 7KH IUHH]HU FRPSDUWPHQW LV VXLWDEOH IRU IUHH]LQJ IUHVK IRRG DQG VWRULQJ IUR]HQ DQG GHHS IUR]HQ IRRG IRU D ORQJ WLPH 7R IUHH]H IUHVK IRRG DFWLYDWH WKH )DVW)UHH]H IXQFWLRQ DW OHDVW KRXUV EHIRUH SODFLQJ WKH IRRG WR EH IUR]HQ LQ WKH IUHH]HU FRPSDUWPHQW 6WRUH WKH IUHVK IRRG HYHQO\ GLVWULEXWHG LQ DOO FRPSDUWPHQWV RU GUDZHUV 7KH PD[LPXP DPRXQW RI IRRG WKDW F
+,176 $1' 7,36 +LQWV IRU HQHUJ\ VDYLQJ ವ )UHH]HU 7KH LQWHUQDO FRQILJXUDWLRQ RI WKH DSSOLDQFH LV WKH RQH WKDW HQVXUHV WKH PRVW HIILFLHQW XVH RI HQHUJ\ ವ )ULGJH 0RVW HIILFLHQW XVH RI HQHUJ\ LV HQVXUHG LQ WKH FRQILJXUDWLRQ ZLWK WKH GUDZHUV LQ WKH ERWWRP SDUW RI WKH DSSOLDQFH DQG VKHOYHV HYHQO\ GLVWULEXWHG 3RVLWLRQ RI WKH GRRU ELQV GRHV QRW DIIHFW HQHUJ\ FRQVXPSWLRQ ವ 'R QRW RSHQ WKH GRRU IUHTXHQWO\ RU OHDYH LW RSHQ ORQJHU WKDQ QHFHVVDU\ ವ )UHH]HU 7KH FROGHU WKH WHPSHUDWXUH VHWWLQJ WKH KLJKHU WKH HQ
RU ZHW LW PLJKW KDYH QRW EHHQ VWRUHG LQ WKH RSWLPDO FRQGLWLRQV DQG GHIURVWLQJ PD\ KDYH DOUHDG\ VWDUWHG ವ 7R OLPLW WKH GHIURVWLQJ SURFHVV EX\ IUR]HQ JRRGV DW WKH HQG RI \RXU JURFHU\ VKRSSLQJ DQG WUDQVSRUW WKHP LQ D WKHUPDO DQG LQVXODWHG FRRO EDJ ವ 3ODFH WKH IUR]HQ IRRGV LPPHGLDWHO\ LQ WKH IUHH]HU DIWHU FRPLQJ EDFN IURP WKH VKRS ವ ,I IRRG KDV GHIURVWHG HYHQ SDUWLDOO\ GR QRW UH IUHH]H LW &RQVXPH LW DV VRRQ DV SRVVLEOH ವ 5HVSHFW WKH H[SLU\ GDWH DQG WKH VWRUDJH LQIRUPDWLRQ RQ WKH SDFNDJH 6KHOI OLIH
WKH FRRNHG IRRG DQG VHSDUDWH LW IURP WKH UDZ RQH ವ ,W LV UHFRPPHQGHG WR GHIURVW WKH IRRG LQVLGH WKH IULGJH ವ 'R QRW LQVHUW KRW IRRG LQVLGH WKH DSSOLDQFH 0DNH VXUH LW KDV FRROHG GRZQ DW URRP WHPSHUDWXUH EHIRUH LQVHUWLQJ LW ವ 7R SUHYHQW IRRG ZDVWH WKH QHZ VWRFN RI IRRG VKRXOG DOZD\V EH SODFHG EHKLQG WKH ROG RQH +LQWV IRU IRRG UHIULJHUDWLRQ ವ )UHVK IRRG FRPSDUWPHQW LV WKH RQH PDUNHG RQ WKH UDWLQJ SODWH ZLWK ವ 0HDW DOO W\SHV ZUDS LQ D VXLWDEOH SDFNDJLQJ DQG SODFH LW RQ WKH JODVV VKHOI DERYH W
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
7528%/(6+227,1* :$51,1* 5HIHU WR 6DIHW\ FKDSWHUV :KDW WR GR LI 3UREOHP 3RVVLEOH FDXVH 6ROXWLRQ 7KH DSSOLDQFH GRHV QRW RSಣ HUDWH 7KH DSSOLDQFH LV VZLWFKHG RII 6ZLWFK RQ WKH DSSOLDQFH 7KH PDLQV SOXJ LV QRW FRQಣ QHFWHG WR WKH PDLQV VRFNHW FRUUHFWO\ &RQQHFW WKH PDLQV SOXJ WR WKH PDLQV VRFNHW FRUUHFWO\ 7KHUH LV QR YROWDJH LQ WKH PDLQV VRFNHW &RQQHFW D GLIIHUHQW HOHFWULFDO DSSOLDQFH WR WKH PDLQV VRFNಣ HW &RQWDFW D TXDOLILHG HOHFಣ WULFLDQ 7KH DSSOLDQFH LV QRLV\ 7KH DSSOLDQFH LV
3UREOHP 3RVVLEOH FDXVH 6ROXWLRQ 7KH FRPSUHVVRU GRHV QRW VWDUW LPPHGLDWHO\ DIWHU SUHVVLQJ WKH )DVW)UHH]H RU DIWHU FKDQJLQJ WKH WHPಣ SHUDWXUH 7KH FRPSUHVVRU VWDUWV DIWHU D SHULRG RI WLPH 7KLV LV QRUPDO QR HUURU KDV RFFXUUHG 'RRU LV PLVDOLJQHG RU LQWHUಣ IHUHV ZLWK YHQWLODWLRQ JULOO 7KH DSSOLDQFH LV QRW OHYHOಣ OHG 5HIHU WR LQVWDOODWLRQ LQVWUXFಣ WLRQV 'RRU GRHV QRW RSHQ HDVLO\
3UREOHP 3RVVLEOH FDXVH 6ROXWLRQ 6WRUHG IRRG ZDV QRW ZUDSಣ SHG :UDS IRRG LQ VXLWDEOH SDFNಣ DJLQJ EHIRUH VWRULQJ LW LQ WKH DSSOLDQFH :DWHU IORZV LQVLGH WKH UHIULJಣ HUDWRU )RRG SURGXFWV SUHYHQW WKH ZDWHU IURP IORZLQJ LQWR WKH ZDWHU FROOHFWRU 0DNH VXUH WKDW IRRG SURGಣ XFWV GR QRW WRXFK WKH UHDU SODWH 7KH ZDWHU RXWOHW LV FORJJHG &OHDQ WKH ZDWHU RXWOHW :DWHU IORZV RQ WKH IORRU 7KH PHOWLQJ ZDWHU RXWOHW LV QRW FRQQHFWHG WR WKH HYDSRಣ UDWLYH WUD\ DERYH WKH FRPಣ SUHVVRU $WWDFK WKH PHOWL
3UREOHP 3RVVLEOH FDXVH 6ROXWLRQ 7HPSHUDWXUH VHWWLQJ /('V IODVK DW WKH VDPH WLPH $Q HUURU KDV RFFXUUHG LQ PHDVXULQJ WKH WHPSHUDWXUH &RQWDFW WKH QHDUHVW $XWKRUಣ LVHG 6HUYLFH &HQWUH 7KH FRROLQJ V\VWHP ZLOO FRQWLQXH WR NHHS IRRG SURGXFWV FROG EXW WHPSHUDWXUH DGMXVWPHQW ZLOO QRW EH SRVVLEOH ,I WKH DGYLFH GRHV QRW OHDG WR WKH GHVLUHG UHVXOW FDOO WKH QHDUHVW $XWKRUL]HG 6HUYLFH &HQWUH 5HSODFLQJ WKH ODPS 7KH DSSOLDQFH LV HTXLSSHG ZLWK D ORQJOLIH /(' LQWHULRU OLJKW &ORVLQJ WKH GRRU &OHDQ WKH GR
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