ML18108A417

From kanterella
Revision as of 08:59, 2 December 2019 by StriderTol (talk | contribs) (Created page by program invented by StriderTol)
Jump to navigation Jump to search
COL Docs - SNC Responses to Icn/Uin Comment Status Sheet for 4/19 Public Meeting
ML18108A417
Person / Time
Site: Vogtle  Southern Nuclear icon.png
Issue date: 04/18/2018
From:
NRC
To:
NRC/NRO/DNRL/LB4
References
Download: ML18108A417 (14)


Text

Vogtle PEmails From: Hoellman, Jordan Sent: Wednesday, April 18, 2018 3:41 PM To: Vogtle PEmails

Subject:

SNC Responses to ICN/UIN Comment Status Sheet for 4/19 Public Meeting Attachments: UIN ICN comment status sheet April 19 SNC responses.pdf; pages from ML17279A084 LAR 17-036.pdf Attached are SNCs responses to the ICN/UIN Comment Status Sheet for discussion at the public meeting on April 19, 2018.

1

Hearing Identifier: Vogtle_COL_Docs_Public Email Number: 260 Mail Envelope Properties (SN6PR09MB26080094FCDD33E9636FFDD5D5B60)

Subject:

SNC Responses to ICN/UIN Comment Status Sheet for 4/19 Public Meeting Sent Date: 4/18/2018 3:41:17 PM Received Date: 4/18/2018 3:41:21 PM From: Hoellman, Jordan Created By: Jordan.Hoellman2@nrc.gov Recipients:

"Vogtle PEmails" <Vogtle.PEmails@nrc.gov>

Tracking Status: None Post Office: SN6PR09MB2608.namprd09.prod.outlook.com Files Size Date & Time MESSAGE 142 4/18/2018 3:41:21 PM UIN ICN comment status sheet April 19 SNC responses.pdf 82310 pages from ML17279A084 LAR 17-036.pdf 234840 Options Priority: Standard Return Notification: No Reply Requested: No Sensitivity: Normal Expiration Date:

Recipients Received:

VOGTLE ICN/UIN ISSUES TRACKING SHEET Date ITEM # ICN TOPIC ITAAC ISSUE Licensee Comment UIN INDEX #

4/19 1 UIN Class 1E cable 789 - 811 We would like to discuss SNCs separation plan for executing these ITAAC ITAAC and possible grouping of the submitted closure submittals especially for UINs: 793, 799 - 811 which work off of 794, 797, each other.

800, 803 Specific comments are provided below:

1. The example D2 in NEI 08-01 combined all four ITAAC into one ICN in that the primary ITAAC is ITAAC 3.3.00.07d.ii.a with ITAAC 3.3.00.07d.iii.a, 3.3.00.07d.iv.a, and 3.3.00.07d.v.a dealing with exceptions.

SNC response: The UINs mentioned above were also grouped and sent on one UIN (Reference ND-18-0413, dated 3/27/18).

2. The example D2 discusses pulling cables and termination tickets for cables after raceway verification, the new UIN for ITAAC 3.3.00.07d.ii.a does not.

SNC response: The referenced UINs state that completed raceway installation, in-progress cable installation, and completed cable terminations are inspected. While cable pull and termination tickets will be performed, the inspections will be used to verify that the ITAAC criteria have been met. This methodology is consistent with previously accepted UINs 3.3.00.07aa (789),

3.3.00.07ab (790), and 3.3.00.07ac (791).

3. APP-GW-E1-001 is a non-public document which means that some critical separation criteria identified in it should be included in the UIN for ITAAC 3.3.00.07d.ii.a.

SNC response: Separation criteria must meet the ITAAC requirement which is verified by as-built inspections. Specific design requirements given in APP-GW-E1-001 are outside the scope of this UIN, as the as-built condition must satisfy the ITAAC requirements regardless of the design specifications. APP-GW-E1-001 was referenced to show that the design was translated in to installation specifications. This reference is consistent with what was used in previously accepted UINs 3.3.00.07aa (789), 3.3.00.07ab (790), and 3.3.00.07ac 1 (791).

4. ITAAC 3.3.00.07d.iii.a, 3.3.00.07d.iv.a, and 3.3.00.07d.v.a are listed as enclosures to UIN for ITAAC 3.3.00.07d.ii.a when they are not.

SNC response: These UINs were submitted as 4 enclosures on a single letter.

5. In what order are ITAAC 3.3.00.07d.iii.a, 3.3.00.07d.iv.a, and 3.3.00.07d.v.a utilized to deal with exceptions to ITAAC 3.3.00.07d.ii.a?

SNC response: Every cable and raceway is individually inspected and verified to meet requirements. As such, inspections do not occur in a tiered approach by ITAAC.

6. UIN for ITAAC 3.3.00.07d.iii.a discusses enclosed trays, but there is no reference that identifies what that means that is in public domain.

SNC response: This definition was addressed in approved LAR-17-036, which revised these ITAAC and added definitions for enclosed raceways to UFSAR Subsection 8.3.2.4.2, which is in the public domain. The relevant marked up LAR pages are attached on pages 2 and 3 of LAR enclosure 3.

7. UIN for ITAAC 3.3.00.07d.iii.a does not state whether barriers are between cables in different divisions or raceways.

SNC response: This ITAAC requires that circuits be ran in enclosed raceways or barriers be provided when separation distances between raceways are not met; therefore, the circuits will be provided with enclosed raceway or with a barrier.

4/19 2 public Feedback on public website website discrepancies.

2









6RXWKHUQ1XFOHDU2SHUDWLQJ&RPSDQ\





1'

(QFORVXUH





9RJWOH(OHFWULF*HQHUDWLQJ3ODQW 9(*3 8QLWVDQG





3URSRVHG&KDQJHVWR/LFHQVLQJ%DVLV'RFXPHQWV

/$5 



,QVHUWLRQV'HQRWHGE\%OXH8QGHUOLQHDQG'HOHWLRQVE\5HG6WULNHWKURXJK

  • UHHQWH[WLQGLFDWHVVLPSOHUHORFDWLRQRIH[LVWLQJLQIRUPDWLRQ

2PLWWHGWH[WLVLGHQWLILHGE\WKUHHDVWHULVNV     

















7KLV(QFORVXUHFRQVLVWVRISDJHVLQFOXGLQJWKLVFRYHUSDJH





1'

(QFORVXUH

3URSRVHG&KDQJHVWR/LFHQVLQJ%DVLV'RFXPHQWV /$5 



8)6$56XEVHFWLRQ³5DFHZD\DQG&DEOH5RXWLQJ'LVUHYLVHGDVVKRZQEHORZ

  

&DEOHVRIRQHVHSDUDWLRQJURXSDUHUXQLQVHSDUDWHUDFHZD\DQGSK\VLFDOO\VHSDUDWHGIURP

FDEOHVRIRWKHUVHSDUDWLRQJURXSV*URXS1UDFHZD\VDUHVHSDUDWHGIURPVDIHW\UHODWHG

JURXSV$%&DQG' 6HSDUDWLRQEHWZHHQVDIHW\UHODWHGJURXSVDQGEHWZHHQVDIHW\

UHODWHGJURXSVDQGQRQVDIHW\UHODWHGFDEOHVDUHURXWHG5DFHZD\VIURPJURXS1DUHURXWHGLQ

WKHVDPHDUHDVDVWKHVDIHW\UHODWHGJURXSVDFFRUGLQJWRVSDWLDOVHSDUDWLRQVWLSXODWHGLQ

5HJXODWRU\*XLGHDQG,(((ZLWKWKHIROORZLQJH[FHSWLRQVOLVWHGEHORZ

1RWH,IQRWH[SOLFLWO\VSHFLILHGEHORZHQFORVHGUDFHZD\DQGHQFORVHGFRQILJXUDWLRQUHIHU

WRFRQGXLWHQFORVHGWUD\VRUWUDQVLWLRQER[HVGHVLJQHGDQGXVHGIRUVXSSRUWLQJRUHQFORVLQJ

ZLUHVFDEOHVRUEXVEDUV2SHQFRQILJXUDWLRQUHIHUVWRIUHHDLUFDEOHDQGRSHQFDEOHWUD\V

7KHH[FHSWLRQVDUHOLPLWHGWRORZYROWDJHSRZHUV\VWHPDSSOLFDWLRQVDQGEHORZ

LQVWUXPHQWDWLRQDQGFRQWURO 

x :LWKLQWKHPDLQFRQWUROURRPDQGUHPRWHVKXWGRZQURRP QRQKD]DUGDUHDV WKH

PLQLPXPYHUWLFDOVHSDUDWLRQIRURSHQWRSFDEOHWUD\LVLQFKHVDQGWKHPLQLPXP

KRUL]RQWDOVHSDUDWLRQLVLQFK

x :LWKLQJHQHUDOSODQWDUHDV OLPLWHGKD]DUGDUHDV WKHPLQLPXPYHUWLFDOVHSDUDWLRQLV

LQFKHVDQGWKHPLQLPXPKRUL]RQWDOVHSDUDWLRQLVLQFKHVIRURSHQWRSFDEOHWUD\VZLWK

ORZYROWDJHSRZHUFLUFXLWVIRUFDEOHVL]HV$:*)RUFRQILJXUDWLRQVWKDWLQYROYH

H[FOXVLYHO\OLPLWHGHQHUJ\FRQWHQWFDEOHV LQVWUXPHQWDWLRQDQGFRQWURO WKHVHPLQLPXP

GLVWDQFHVDUHUHGXFHGWRLQFKHVDQGLQFKUHVSHFWLYHO\

x :LWKLQSDQHOVDQGFRQWUROVZLWFKERDUGVWKHPLQLPXPKRUL]RQWDOVHSDUDWLRQEHWZHHQ

FRPSRQHQWVRUFDEOHVRIGLIIHUHQWVHSDUDWLRQJURXSV ERWKILHOGURXWHGDQGYHQGRU VXSSOLHGLQWHUQDOZLULQJ LVLQFKDQGWKHPLQLPXPYHUWLFDOVHSDUDWLRQGLVWDQFHLV

LQFKHV

x )RUFRQILJXUDWLRQVLQYROYLQJDQHQFORVHGUDFHZD\DQGDQRSHQUDFHZD\WKHPLQLPXP

YHUWLFDOVHSDUDWLRQLVLQFKLIWKHHQFORVHGUDFHZD\LVEHORZWKHRSHQUDFHZD\

1RQKD]DUG$UHD([FHSWLRQV

x 7KHPLQLPXPYHUWLFDOVHSDUDWLRQLVLQFKHVDQGWKHPLQLPXPKRUL]RQWDOVHSDUDWLRQ

LVLQFKEHWZHHQRSHQWRHQFORVHGFRQILJXUDWLRQVIRUFRQILJXUDWLRQVLQYROYLQJORZ YROWDJHSRZHUFDEOHV

x 7KHPLQLPXPYHUWLFDOVHSDUDWLRQLVLQFKDQGWKHPLQLPXPKRUL]RQWDOVHSDUDWLRQLVLQFK

EHWZHHQRSHQFRQILJXUDWLRQVDQGEHWZHHQRSHQWRFORVHGFRQILJXUDWLRQVIRU

FRQILJXUDWLRQVWKDWLQYROYHH[FOXVLYHO\OLPLWHGHQHUJ\FRQWHQWFDEOHV LQVWUXPHQWDWLRQDQG

FRQWURO 

x )RUFRQILJXUDWLRQVLQYROYLQJORZYROWDJHSRZHUFDEOHVZLWKLQDQHQFORVHGUDFHZD\

DQGDQRSHQUDFHZD\WKHPLQLPXPYHUWLFDOVHSDUDWLRQLVLQFKLIWKHHQFORVHG

UDFHZD\LVEHORZWKHRSHQUDFHZD\

x :LWKLQSDQHOVDQGFRQWUROVZLWFKERDUGVWKHPLQLPXPKRUL]RQWDOVHSDUDWLRQEHWZHHQ

FRPSRQHQWVRU FDEOHV RI GLIIHUHQWVHSDUDWLRQJURXSV ERWK ILHOGURXWHGDQG YHQGRU VXSSOLHGLQWHUQDO ZLULQJ  LV  LQFK DQG WKH PLQLPXP YHUWLFDO VHSDUDWLRQ GLVWDQFH LV

LQFKHV

3DJHRI

1'

(QFORVXUH

3URSRVHG&KDQJHVWR/LFHQVLQJ%DVLV'RFXPHQWV /$5 



/LPLWHG+D]DUG$UHD([FHSWLRQV

x 7KHPLQLPXPYHUWLFDOVHSDUDWLRQLVLQFKDQGWKHPLQLPXPKRUL]RQWDOVHSDUDWLRQ

LVLQFKZLWKFRQILJXUDWLRQVWKDWLQYROYHH[FOXVLYHO\OLPLWHGHQHUJ\FRQWHQWFDEOHV

LQVWUXPHQWDWLRQDQGFRQWURO 

x 7KHPLQLPXPYHUWLFDOVHSDUDWLRQLVLQFKHVDQGWKHPLQLPXPKRUL]RQWDO

VHSDUDWLRQLVLQFKHVZLWKFRQILJXUDWLRQVWKDWLQYROYHORZYROWDJHSRZHUFDEOHVIRU

FDEOHVL]HVOHVVWKDQDQGHTXDOWR$:*7KHPLQLPXPYHUWLFDOVHSDUDWLRQPD\

EHUHGXFHGWRLQFKHVIRUWKHFRQILJXUDWLRQZLWKDFRQGXLWDERYHDQGFURVVLQJDQ

RSHQWUD\DWDQDQJOHHTXDOWRRUJUHDWHUWKDQGHJUHHV

x 7KHPLQLPXPYHUWLFDOVHSDUDWLRQLVLQFKHVDQGWKHPLQLPXPKRUL]RQWDO

VHSDUDWLRQLVLQFKHVEHWZHHQDFRQGXLWDQGDQRSHQFRQILJXUDWLRQIRUORZYROWDJH

SRZHUFDEOHVJUHDWHUWKDQ$:*EXWQRWJUHDWHUWKDQNFPLO7KHYHUWLFDO

VHSDUDWLRQPD\EHUHGXFHGWRLQFKHVLIWKHFRQGXLWLVDERYHDQGFURVVLQJDQRSHQ

WUD\DWDQDQJOHHTXDOWRRUJUHDWHUWKDQGHJUHHV

x 7KHPLQLPXPYHUWLFDOVHSDUDWLRQLVLQFKLIWKHHQFORVHGUDFHZD\LVEHORZWKH

RSHQUDFHZD\IRUORZYROWDJHSRZHUFDEOHV

x 7KHPLQLPXPYHUWLFDOVHSDUDWLRQLVLQFKDQGWKHPLQLPXPKRUL]RQWDOVHSDUDWLRQLV

LQFKIRUFRQILJXUDWLRQVZLWKDQRQVDIHW\FRQGXLWDQGDIUHHDLUVDIHW\FDEOHZLWK

ORZYROWDJHSRZHUFDEOHVDQGEHORZ

x :LWKLQSDQHOVDQGFRQWUROVZLWFKERDUGVWKHPLQLPXPKRUL]RQWDOVHSDUDWLRQ

EHWZHHQFRPSRQHQWVRUFDEOHVRIGLIIHUHQWVHSDUDWLRQJURXSV ERWKILHOGURXWHG

DQGYHQGRUVXSSOLHGLQWHUQDOZLULQJ LVLQFKDQGWKHPLQLPXPYHUWLFDOVHSDUDWLRQ

GLVWDQFHLVLQFKHV

+D]DUG$UHD([FHSWLRQV

LWKLQKD]DUGDUHDVWKHPLQLPXPVSDWLDOVHSDUDWLRQEHWZHHQVDIHW\UHODWHGJURXSVDQG

EHWZHHQVDIHW\UHODWHGJURXSVDQGQRQVDIHW\UHODWHGFDEOHVLVWKHVDPHDVWKHVSDWLDO

VHSDUDWLRQDSSOLFDEOHLQOLPLWHGKD]DUGDUHDVXQOHVVRWKHUZLVHVSHFLILHGE\,(((IRU

DQH[WHUQDOKD]DUG

7KHH[FHSWLRQVWRWKHJXLGDQFHLQ5HJXODWRU\*XLGHDUHEDVHGRQWHVWUHVXOWVXVHGWR

VXSSRUWH[FHSWLRQVWRWKHVHSDUDWLRQJXLGDQFHIRURSHUDWLQJQXFOHDUSRZHUSODQWV$

VXPPDU\RIWHVWUHVXOWVIURPWHQHOHFWULFDOVHSDUDWLRQWHVWSURJUDPVLVGRFXPHQWHGLQ

5HIHUHQFH7KHVHWHVWSURJUDPVVXSSRUWWKH$3H[FHSWLRQV

  





8)6$56XEVHFWLRQ³+D]DUG3URWHFWLRQ'LVUHYLVHGDVVKRZQEHORZ

KHUHUHGXQGDQWVDIHW\UHODWHGDQGQRQVDIHW\UHODWHGUDFHZD\V\VWHPVWUDYHUVHHDFKRWKHU

VHSDUDWLRQLQDFFRUGDQFHZLWK5HJXODWRU\*XLGHDQG,(((LVPDLQWDLQHG 6HH

8)6$56XEVHFWLRQIRUVHSDUDWLRQUHTXLUHPHQWVLQKD]DUGDUHDV

  

 

3DJHRI

1'

(QFORVXUH

3URSRVHG&KDQJHVWR/LFHQVLQJ%DVLV'RFXPHQWV /$5 



&2/$SSHQGL[&7DEOHDQGFRUUHVSRQGLQJ3ODQW6SHFLILF7LHU7DEOHDUH

UHYLVHGDVVKRZQEHORZ



1R ,7$$&1R 'HVLJQ&RPPLWPHQW ,QVSHFWLRQV7HVWV$QDO\VLV $FFHSWDQFH&ULWHULD

 GL G 3K\VLFDOVHSDUDWLRQLV ,QVSHFWLRQVRIWKHDVEXLOW&ODVV 5HVXOWVRIWKHLQVSHFWLRQZLOO

PDLQWDLQHGEHWZHHQ&ODVV( (UDFHZD\VZLOOEHSHUIRUPHGWR FRQILUPWKDWWKHVHSDUDWLRQ

GLYLVLRQVDQGEHWZHHQ&ODVV( FRQILUPWKDWWKHVHSDUDWLRQ EHWZHHQ&ODVV(UDFHZD\V

GLYLVLRQVDQGQRQ&ODVV( EHWZHHQ&ODVV(UDFHZD\VRI RIGLIIHUHQWGLYLVLRQVDQG

FDEOHV GLIIHUHQWGLYLVLRQVDQGEHWZHHQ EHWZHHQ&ODVV(UDFHZD\V

 &ODVV(UDFHZD\VDQGQRQ&ODVV DQGQRQ&ODVV(UDFHZD\VLV

(UDFHZD\VLVFRQVLVWHQWZLWKWKH FRQVLVWHQWZLWKWKHIROORZLQJ

IROORZLQJ 

L :LWKLQWKHPDLQFRQWUROURRP L :LWKLQWKHPDLQFRQWURO

DQGUHPRWHVKXWGRZQURRP QRQ URRPDQGUHPRWHVKXWGRZQ

KD]DUGDUHDV WKHPLQLPXP URRP QRQKD]DUGDUHDV WKH

VHSDUDWLRQIRUORZYROWDJHSRZHU PLQLPXPVHSDUDWLRQIRUORZ

FDEOHVDQGEHORZLVGHILQHGE\ YROWDJHSRZHUFDEOHVDQG

RQHRIWKHIROORZLQJ EHORZPHHWVRQHRIWKH

 IROORZLQJ

 

 )RUFRQILJXUDWLRQVLQYROYLQJ  )RUFRQILJXUDWLRQV

RSHQWRSUDFHZD\VFRQILJXUDWLRQV LQYROYLQJRSHQWRSUDFHZD\V

WRHQFORVHGFRQILJXUDWLRQVZLWK FRQILJXUDWLRQVWRHQFORVHG

ORZYROWDJHSRZHUFDEOHVWKH FRQILJXUDWLRQVZLWKORZ

PLQLPXPYHUWLFDOVHSDUDWLRQLV YROWDJHSRZHUFDEOHVWKH

LQFKHVDQGWKHPLQLPXP YHUWLFDOVHSDUDWLRQLVLQFKHV

KRUL]RQWDOVHSDUDWLRQLVLQFK RUPRUHDQGWKHKRUL]RQWDO

 VHSDUDWLRQLVLQFKRUPRUH

 )RUFRQILJXUDWLRQVLQYROYLQJDQ  )RUFRQILJXUDWLRQVWKDW

HQFORVHGUDFHZD\DQGDQRSHQ LQYROYHDQHQFORVHGUDFHZD\

UDFHZD\ZLWKORZYROWDJHSRZHU DQGDQRSHQUDFHZD\ZLWK

FDEOHVWKHPLQLPXPKRUL]RQWDO ORZYROWDJHSRZHUFDEOHVWKH

DQGYHUWLFDOVHSDUDWLRQLVLQFKLI PLQLPXPKRUL]RQWDODQG

WKHHQFORVHGUDFHZD\LVEHORZWKH YHUWLFDOVHSDUDWLRQPD\EH

RSHQUDFHZD\ UHGXFHGWRLQFKLIWKH

 HQFORVHGUDFHZD\LVEHORZ

 WKHRSHQUDFHZD\

 )RUFRQILJXUDWLRQVLQYROYLQJ  )RUFRQILJXUDWLRQVWKDW

HQFORVHGUDFHZD\VWKHPLQLPXP LQYROYHHQFORVHGUDFHZD\V

VHSDUDWLRQLVLQFKLQERWK WKHPLQLPXPVHSDUDWLRQLV

KRUL]RQWDODQGYHUWLFDOGLUHFWLRQV LQFKLQERWKKRUL]RQWDODQG

 YHUWLFDOGLUHFWLRQV

 )RUFRQILJXUDWLRQVLQYROYLQJ  )RUFRQILJXUDWLRQVWKDW

RSHQFRQILJXUDWLRQVDQGDQ LQYROYHRSHQFRQILJXUDWLRQV

HQFORVHGUDFHZD\DQGDQRSHQ DQGDQHQFORVHGUDFHZD\DQG

UDFHZD\ZLWKLQVWUXPHQWDWLRQDQG DQRSHQUDFHZD\ZLWK

FRQWUROFDEOHVWKHPLQLPXP LQVWUXPHQWDWLRQDQGFRQWURO

VHSDUDWLRQLVLQFKLQERWK FDEOHVWKHPLQLPXP

KRUL]RQWDODQGYHUWLFDOGLUHFWLRQV VHSDUDWLRQLVLQFKLQERWK

 KRUL]RQWDODQGYHUWLFDO

GLUHFWLRQV

3DJHRI

1'

(QFORVXUH

3URSRVHG&KDQJHVWR/LFHQVLQJ%DVLV'RFXPHQWV /$5 



1R ,7$$&1R 'HVLJQ&RPPLWPHQW ,QVSHFWLRQV7HVWV$QDO\VLV $FFHSWDQFH&ULWHULD

 GLLD G 3K\VLFDOVHSDUDWLRQLV ,QVSHFWLRQVRIWKHDVEXLOW&ODVV 5HVXOWVRIWKHLQVSHFWLRQZLOO

PDLQWDLQHGEHWZHHQ&ODVV( (UDFHZD\VZLOOEHSHUIRUPHGWR FRQILUPWKDWWKHVHSDUDWLRQ

GLYLVLRQVDQGEHWZHHQ&ODVV( FRQILUPWKDWWKHVHSDUDWLRQ EHWZHHQ&ODVV(UDFHZD\V

GLYLVLRQVDQGQRQ&ODVV( EHWZHHQ&ODVV(UDFHZD\VRI RIGLIIHUHQWGLYLVLRQVDQG

FDEOHV GLIIHUHQWGLYLVLRQVDQGEHWZHHQ EHWZHHQ&ODVV(UDFHZD\V

&ODVV(UDFHZD\VDQGQRQ&ODVV DQGQRQ&ODVV(UDFHZD\VLV

(UDFHZD\VLVFRQVLVWHQWZLWKWKH WKHIROORZLQJ

IROORZLQJ 

LLD :LWKLQRWKHUSODQWDUHDV LLD :LWKLQRWKHUSODQWDUHDV

OLPLWHGKD]DUGDUHDV WKH LQVLGHFRQWDLQPHQW OLPLWHG

PLQLPXPVHSDUDWLRQLVGHILQHGE\ KD]DUGDUHDV WKHVHSDUDWLRQ

RQHRIWKHIROORZLQJ PHHWVRQHRIWKHIROORZLQJ

 7KHPLQLPXPYHUWLFDO  7KHYHUWLFDOVHSDUDWLRQLV

VHSDUDWLRQLVIHHWDQGWKH IHHWRUPRUHDQGWKH

PLQLPXPKRUL]RQWDOVHSDUDWLRQLV KRUL]RQWDOVHSDUDWLRQLVIHHW

IHHW RUPRUH

 7KHPLQLPXPYHUWLFDO  7KHPLQLPXPYHUWLFDO

VHSDUDWLRQLVLQFKHVDQGWKH VHSDUDWLRQLVLQFKHVDQG

PLQLPXPKRUL]RQWDOVHSDUDWLRQLV WKHPLQLPXPKRUL]RQWDO

LQFKHVIRUUDFHZD\VFRQWDLQLQJ VHSDUDWLRQLVLQFKHVIRU

RQO\LQVWUXPHQWDWLRQDQGFRQWURO UDFHZD\VFRQWDLQLQJRQO\

DQGORZYROWDJHSRZHUFDEOHV LQVWUXPHQWDWLRQDQGFRQWURO

$:* 7KLVPLQLPXP DQGORZYROWDJHSRZHUFDEOHV

YHUWLFDOVHSDUDWLRQLVLQFKHVIRU $:* 7KLVPLQLPXP

WKHFRQILJXUDWLRQZLWKDFRQGXLW YHUWLFDOVHSDUDWLRQPD\EH

DERYHDQGFURVVLQJWKHRSHQWUD\ UHGXFHGWRLQFKHVIRUWKH

DWDQDQJOHHTXDOWRRUJUHDWHUWKDQ FRQILJXUDWLRQZLWKDFRQGXLW

GHJUHHV DERYHDQGFURVVLQJWKHRSHQ

 WUD\DWDQDQJOHHTXDOWRRU

 JUHDWHUWKDQGHJUHHV

 7KHPLQLPXPYHUWLFDO  7KHPLQLPXPYHUWLFDO

VHSDUDWLRQLVLQFKHVDQGWKH VHSDUDWLRQLVLQFKHVDQG

PLQLPXPKRUL]RQWDOVHSDUDWLRQLV WKHPLQLPXPKRUL]RQWDO

LQFKHVEHWZHHQDFRQGXLWDQGDQ VHSDUDWLRQLVLQFKHV

RSHQFRQILJXUDWLRQIRUORZ EHWZHHQDFRQGXLWDQGDQ

YROWDJHSRZHUFDEOHVJUHDWHUWKDQ RSHQFRQILJXUDWLRQIRUORZ

$:*EXWQRWJUHDWHUWKDQ YROWDJHSRZHUFDEOHVJUHDWHU

NFPLO7KHYHUWLFDO WKDQ$:*EXWQRWJUHDWHU

VHSDUDWLRQLVLQFKHVLIDFRQGXLW WKDQNFPLO7KHYHUWLFDO

LVDERYHDQGFURVVLQJDQRSHQWUD\ VHSDUDWLRQPD\EHUHGXFHGWR

DWDQDQJOHHTXDOWRRUJUHDWHUWKDQ LQFKHVLIDFRQGXLWLVDERYH

GHJUHHV DQGFURVVLQJDQRSHQWUD\DW

 DQDQJOHHTXDOWRRUJUHDWHU

WKDQGHJUHHV



3DJHRI

1'

(QFORVXUH

3URSRVHG&KDQJHVWR/LFHQVLQJ%DVLV'RFXPHQWV /$5 



1R ,7$$&1R 'HVLJQ&RPPLWPHQW ,QVSHFWLRQV7HVWV$QDO\VLV $FFHSWDQFH&ULWHULD

    )RUFRQILJXUDWLRQVWKDW  )RUFRQILJXUDWLRQVWKDW

FRQW  LQYROYHH[FOXVLYHO\OLPLWHGHQHUJ\ LQYROYHH[FOXVLYHO\OLPLWHG

FRQWHQWFDEOHV LQVWUXPHQWDWLRQ HQHUJ\FRQWHQWFDEOHV

DQGFRQWURO WKHPLQLPXP LQVWUXPHQWDWLRQDQGFRQWURO 

YHUWLFDOVHSDUDWLRQLVLQFKHV WKHPLQLPXPYHUWLFDO

DQGWKHPLQLPXPKRUL]RQWDO VHSDUDWLRQLVLQFKHVDQG

VHSDUDWLRQLVLQFK WKHPLQLPXPKRUL]RQWDO

 VHSDUDWLRQLVLQFK

 )RUFRQILJXUDWLRQVLQYROYLQJ  )RUFRQILJXUDWLRQVWKDW

DQHQFORVHGUDFHZD\DQGDQRSHQ LQYROYHDQHQFORVHGUDFHZD\

UDFHZD\ZLWKORZYROWDJHSRZHU DQGDQRSHQUDFHZD\ZLWK

FDEOHVWKHPLQLPXPYHUWLFDO ORZYROWDJHSRZHUFDEOHVWKH

VHSDUDWLRQLVLQFKLIWKHHQFORVHG PLQLPXPYHUWLFDOVHSDUDWLRQ

UDFHZD\LVEHORZWKHRSHQ LVLQFKLIWKHHQFORVHG

UDFHZD\ UDFHZD\LVEHORZWKHRSHQ

 UDFHZD\

 )RUFRQILJXUDWLRQLQYROYLQJ  )RUFRQILJXUDWLRQVWKDW

HQFORVHGUDFHZD\VWKHPLQLPXP LQYROYHHQFORVHGUDFHZD\V

VHSDUDWLRQLVLQFKLQERWK WKHPLQLPXPYHUWLFDODQG

KRUL]RQWDODQGYHUWLFDOGLUHFWLRQV KRUL]RQWDOVHSDUDWLRQLV

 LQFK

 7KHPLQLPXPYHUWLFDO  7KHPLQLPXPYHUWLFDO

VHSDUDWLRQLVLQFKDQGWKH VHSDUDWLRQLVLQFKDQGWKH

PLQLPXPKRUL]RQWDOVHSDUDWLRQLV PLQLPXPKRUL]RQWDO

LQFKIRUFRQILJXUDWLRQVZLWKD VHSDUDWLRQLVLQFKIRU

QRQVDIHW\FRQGXLWDQGDIUHHDLU FRQILJXUDWLRQVZLWKDQRQ

VDIHW\FDEOHZLWKORZYROWDJH VDIHW\FRQGXLWDQGDIUHHDLU

SRZHUFDEOHVDQGEHORZ VDIHW\FDEOHZLWKORZYROWDJH

 SRZHUFDEOHVDQGEHORZ



3DJHRI

1'

(QFORVXUH

3URSRVHG&KDQJHVWR/LFHQVLQJ%DVLV'RFXPHQWV /$5 



1R ,7$$&1R 'HVLJQ&RPPLWPHQW ,QVSHFWLRQV7HVWV$QDO\VLV $FFHSWDQFH&ULWHULD

 GLLE G 3K\VLFDOVHSDUDWLRQLV ,QVSHFWLRQVRIWKHDVEXLOW&ODVV 5HVXOWVRIWKHLQVSHFWLRQZLOO

PDLQWDLQHGEHWZHHQ&ODVV( (UDFHZD\VZLOOEHSHUIRUPHGWR FRQILUPWKDWWKHVHSDUDWLRQ

GLYLVLRQVDQGEHWZHHQ&ODVV( FRQILUPWKDWWKHVHSDUDWLRQ EHWZHHQ&ODVV(UDFHZD\V

GLYLVLRQVDQGQRQ&ODVV( EHWZHHQ&ODVV(UDFHZD\VRI RIGLIIHUHQWGLYLVLRQVDQG

FDEOHV GLIIHUHQWGLYLVLRQVDQGEHWZHHQ EHWZHHQ&ODVV(UDFHZD\V

&ODVV(UDFHZD\VDQGQRQ&ODVV DQGQRQ&ODVV(UDFHZD\VLV

(UDFHZD\VLVFRQVLVWHQWZLWKWKH WKHIROORZLQJ

IROORZLQJ 

LLE :LWKLQRWKHUSODQWDUHDV LLE :LWKLQRWKHUSODQWDUHDV

OLPLWHGKD]DUGDUHDV WKH LQVLGHWKHQRQUDGLRORJLFDOO\

PLQLPXPVHSDUDWLRQLVGHILQHGE\ FRQWUROOHGDUHDRIWKH

RQHRIWKHIROORZLQJ DX[LOLDU\EXLOGLQJ OLPLWHG

 KD]DUGDUHDV WKHVHSDUDWLRQ

 PHHWVRQHRIWKHIROORZLQJ

 7KHPLQLPXPYHUWLFDO  7KHYHUWLFDOVHSDUDWLRQLV

VHSDUDWLRQLVIHHWDQGWKH IHHWRUPRUHDQGWKH

PLQLPXPKRUL]RQWDOVHSDUDWLRQLV KRUL]RQWDOVHSDUDWLRQLVIHHW

IHHW RUPRUH

 7KHPLQLPXPYHUWLFDO  7KHPLQLPXPYHUWLFDO

VHSDUDWLRQLVLQFKHVDQGWKH VHSDUDWLRQLVLQFKHVDQG

PLQLPXPKRUL]RQWDOVHSDUDWLRQLV WKHPLQLPXPKRUL]RQWDO

LQFKHVIRUUDFHZD\VFRQWDLQLQJ VHSDUDWLRQLVLQFKHVIRU

RQO\LQVWUXPHQWDWLRQDQGFRQWURO UDFHZD\VFRQWDLQLQJRQO\

DQGORZYROWDJHSRZHUFDEOHV LQVWUXPHQWDWLRQDQGFRQWURO

$:* 7KLVPLQLPXP DQGORZYROWDJHSRZHUFDEOHV

YHUWLFDOVHSDUDWLRQLVLQFKHVIRU $:* 7KLVPLQLPXP

WKHFRQILJXUDWLRQZLWKDFRQGXLW YHUWLFDOVHSDUDWLRQPD\EH

DERYHDQGFURVVLQJWKHRSHQWUD\ UHGXFHGWRLQFKHVIRUWKH

DWDQDQJOHHTXDOWRRUJUHDWHUWKDQ FRQILJXUDWLRQZLWKDFRQGXLW

GHJUHHV DERYHDQGFURVVLQJWKHRSHQ

 WUD\DWDQDQJOHHTXDOWRRU

 JUHDWHUWKDQGHJUHHV

 7KHPLQLPXPYHUWLFDO  7KHPLQLPXPYHUWLFDO

VHSDUDWLRQLVLQFKHVDQGWKH VHSDUDWLRQLVLQFKHVDQG

PLQLPXPKRUL]RQWDOVHSDUDWLRQLV WKHPLQLPXPKRUL]RQWDO

LQFKHVEHWZHHQDFRQGXLWDQGDQ VHSDUDWLRQLVLQFKHV

RSHQFRQILJXUDWLRQIRUORZ EHWZHHQDFRQGXLWDQGDQ

YROWDJHSRZHUFDEOHVJUHDWHUWKDQ RSHQFRQILJXUDWLRQIRUORZ

$:*EXWQRWJUHDWHUWKDQ YROWDJHSRZHUFDEOHVJUHDWHU

NFPLO7KHYHUWLFDO WKDQ$:*EXWQRWJUHDWHU

VHSDUDWLRQLVLQFKHVLIDFRQGXLW WKDQNFPLO7KHYHUWLFDO

LVDERYHDQGFURVVLQJDQRSHQWUD\ VHSDUDWLRQPD\EHUHGXFHGWR

DWDQDQJOHHTXDOWRRUJUHDWHUWKDQ LQFKHVLIDFRQGXLWLVDERYH

GHJUHHV DQGFURVVLQJDQRSHQWUD\DW

 DQDQJOHHTXDOWRRUJUHDWHU

WKDQGHJUHHV



3DJHRI

1'

(QFORVXUH

3URSRVHG&KDQJHVWR/LFHQVLQJ%DVLV'RFXPHQWV /$5 



1R ,7$$&1R 'HVLJQ&RPPLWPHQW ,QVSHFWLRQV7HVWV$QDO\VLV $FFHSWDQFH&ULWHULD

    )RUFRQILJXUDWLRQVWKDW  )RUFRQILJXUDWLRQVWKDW

FRQW  LQYROYHH[FOXVLYHO\OLPLWHGHQHUJ\ LQYROYHH[FOXVLYHO\OLPLWHG

FRQWHQWFDEOHV LQVWUXPHQWDWLRQ HQHUJ\FRQWHQWFDEOHV

DQGFRQWURO WKHPLQLPXP LQVWUXPHQWDWLRQDQGFRQWURO 

YHUWLFDOVHSDUDWLRQLVLQFKHV WKHPLQLPXPYHUWLFDO

DQGWKHPLQLPXPKRUL]RQWDO VHSDUDWLRQLVLQFKHVDQG

VHSDUDWLRQLVLQFK WKHPLQLPXPKRUL]RQWDO

 VHSDUDWLRQLVLQFK

 )RUFRQILJXUDWLRQVLQYROYLQJ  )RUFRQILJXUDWLRQVWKDW

DQHQFORVHGUDFHZD\DQGDQRSHQ LQYROYHDQHQFORVHGUDFHZD\

UDFHZD\ZLWKORZYROWDJHSRZHU DQGDQRSHQUDFHZD\ZLWK

FDEOHVWKHPLQLPXPYHUWLFDO ORZYROWDJHSRZHUFDEOHVWKH

VHSDUDWLRQLVLQFKLIWKHHQFORVHG PLQLPXPYHUWLFDOVHSDUDWLRQ

UDFHZD\LVEHORZWKHRSHQ LVLQFKLIWKHHQFORVHG

UDFHZD\ UDFHZD\LVEHORZWKHRSHQ

 UDFHZD\

 )RUFRQILJXUDWLRQLQYROYLQJ  )RUFRQILJXUDWLRQVWKDW

HQFORVHGUDFHZD\VWKHPLQLPXP LQYROYHHQFORVHGUDFHZD\V

VHSDUDWLRQLVLQFKLQERWK WKHPLQLPXPYHUWLFDODQG

KRUL]RQWDODQGYHUWLFDOGLUHFWLRQV KRUL]RQWDOVHSDUDWLRQLV

 LQFK

 7KHPLQLPXPYHUWLFDO  7KHPLQLPXPYHUWLFDO

VHSDUDWLRQLVLQFKDQGWKH VHSDUDWLRQLVLQFKDQGWKH

PLQLPXPKRUL]RQWDOVHSDUDWLRQLV PLQLPXPKRUL]RQWDO

LQFKIRUFRQILJXUDWLRQVZLWKD VHSDUDWLRQLVLQFKIRU

QRQVDIHW\FRQGXLWDQGDIUHHDLU FRQILJXUDWLRQVZLWKDQRQ

VDIHW\FDEOHZLWKORZYROWDJH VDIHW\FRQGXLWDQGDIUHHDLU

SRZHUFDEOHVDQGEHORZ VDIHW\FDEOHZLWKORZYROWDJH

 SRZHUFDEOHVDQGEHORZ



3DJHRI

1'

(QFORVXUH

3URSRVHG&KDQJHVWR/LFHQVLQJ%DVLV'RFXPHQWV /$5 



1R ,7$$&1R 'HVLJQ&RPPLWPHQW ,QVSHFWLRQV7HVWV$QDO\VLV $FFHSWDQFH&ULWHULD

 GLLF G 3K\VLFDOVHSDUDWLRQLV ,QVSHFWLRQVRIWKHDVEXLOW&ODVV 5HVXOWVRIWKHLQVSHFWLRQZLOO

PDLQWDLQHGEHWZHHQ&ODVV( (UDFHZD\VZLOOEHSHUIRUPHGWR FRQILUPWKDWWKHVHSDUDWLRQ

GLYLVLRQVDQGEHWZHHQ&ODVV( FRQILUPWKDWWKHVHSDUDWLRQ EHWZHHQ&ODVV(UDFHZD\V

GLYLVLRQVDQGQRQ&ODVV( EHWZHHQ&ODVV(UDFHZD\VRI RIGLIIHUHQWGLYLVLRQVDQG

FDEOHV GLIIHUHQWGLYLVLRQVDQGEHWZHHQ EHWZHHQ&ODVV(UDFHZD\V

&ODVV(UDFHZD\VDQGQRQ&ODVV DQGQRQ&ODVV(UDFHZD\VLV

(UDFHZD\VLVFRQVLVWHQWZLWKWKH WKHIROORZLQJ

IROORZLQJ 

LLF :LWKLQRWKHUSODQWDUHDV LLE :LWKLQRWKHUSODQWDUHDV

OLPLWHGKD]DUGDUHDV WKH LQVLGHWKHUDGLRORJLFDOO\

PLQLPXPVHSDUDWLRQLVGHILQHGE\ FRQWUROOHGDUHDRIWKH

RQHRIWKHIROORZLQJ DX[LOLDU\EXLOGLQJ OLPLWHG

 KD]DUGDUHDV WKHVHSDUDWLRQ

 PHHWVRQHRIWKHIROORZLQJ

 7KHPLQLPXPYHUWLFDO  7KHYHUWLFDOVHSDUDWLRQLV

VHSDUDWLRQLVIHHWDQGWKH IHHWRUPRUHDQGWKH

PLQLPXPKRUL]RQWDOVHSDUDWLRQLV KRUL]RQWDOVHSDUDWLRQLVIHHW

IHHW RUPRUH

 7KHPLQLPXPYHUWLFDO  7KHPLQLPXPYHUWLFDO

VHSDUDWLRQLVLQFKHVDQGWKH VHSDUDWLRQLVLQFKHVDQG

PLQLPXPKRUL]RQWDOVHSDUDWLRQLV WKHPLQLPXPKRUL]RQWDO

LQFKHVIRUUDFHZD\VFRQWDLQLQJ VHSDUDWLRQLVLQFKHVIRU

RQO\LQVWUXPHQWDWLRQDQGFRQWURO UDFHZD\VFRQWDLQLQJRQO\

DQGORZYROWDJHSRZHUFDEOHV LQVWUXPHQWDWLRQDQGFRQWURO

$:* 7KLVPLQLPXP DQGORZYROWDJHSRZHUFDEOHV

YHUWLFDOVHSDUDWLRQLVLQFKHVIRU $:* 7KLVPLQLPXP

WKHFRQILJXUDWLRQZLWKDFRQGXLW YHUWLFDOVHSDUDWLRQPD\EH

DERYHDQGFURVVLQJWKHRSHQWUD\ UHGXFHGWRLQFKHVIRUWKH

DWDQDQJOHHTXDOWRRUJUHDWHUWKDQ FRQILJXUDWLRQZLWKDFRQGXLW

GHJUHHV DERYHDQGFURVVLQJWKHRSHQ

 WUD\DWDQDQJOHHTXDOWRRU

 JUHDWHUWKDQGHJUHHV

 7KHPLQLPXPYHUWLFDO  7KHPLQLPXPYHUWLFDO

VHSDUDWLRQLVLQFKHVDQGWKH VHSDUDWLRQLVLQFKHVDQG

PLQLPXPKRUL]RQWDOVHSDUDWLRQLV WKHPLQLPXPKRUL]RQWDO

LQFKHVEHWZHHQDFRQGXLWDQGDQ VHSDUDWLRQLVLQFKHV

RSHQFRQILJXUDWLRQIRUORZ EHWZHHQDFRQGXLWDQGDQ

YROWDJHSRZHUFDEOHVJUHDWHUWKDQ RSHQFRQILJXUDWLRQIRUORZ

$:*EXWQRWJUHDWHUWKDQ YROWDJHSRZHUFDEOHVJUHDWHU

NFPLO7KHYHUWLFDO WKDQ$:*EXWQRWJUHDWHU

VHSDUDWLRQLVLQFKHVLIDFRQGXLW WKDQNFPLO7KHYHUWLFDO

LVDERYHDQGFURVVLQJDQRSHQWUD\ VHSDUDWLRQPD\EHUHGXFHGWR

DWDQDQJOHHTXDOWRRUJUHDWHUWKDQ LQFKHVLIDFRQGXLWLVDERYH

GHJUHHV DQGFURVVLQJDQRSHQWUD\DW

 DQDQJOHHTXDOWRRUJUHDWHU

WKDQGHJUHHV



3DJHRI

1'

(QFORVXUH

3URSRVHG&KDQJHVWR/LFHQVLQJ%DVLV'RFXPHQWV /$5 



1R ,7$$&1R 'HVLJQ&RPPLWPHQW ,QVSHFWLRQV7HVWV$QDO\VLV $FFHSWDQFH&ULWHULD

    )RUFRQILJXUDWLRQVWKDW  )RUFRQILJXUDWLRQVWKDW

FRQW  LQYROYHH[FOXVLYHO\OLPLWHGHQHUJ\ LQYROYHH[FOXVLYHO\OLPLWHG

FRQWHQWFDEOHV LQVWUXPHQWDWLRQ HQHUJ\FRQWHQWFDEOHV

DQGFRQWURO WKHPLQLPXP LQVWUXPHQWDWLRQDQGFRQWURO 

YHUWLFDOVHSDUDWLRQLVLQFKHV WKHPLQLPXPYHUWLFDO

DQGWKHPLQLPXPKRUL]RQWDO VHSDUDWLRQLVLQFKHVDQG

VHSDUDWLRQLVLQFK WKHPLQLPXPKRUL]RQWDO

 VHSDUDWLRQLVLQFK

 )RUFRQILJXUDWLRQVLQYROYLQJ  )RUFRQILJXUDWLRQVWKDW

DQHQFORVHGUDFHZD\DQGDQRSHQ LQYROYHDQHQFORVHGUDFHZD\

UDFHZD\ZLWKORZYROWDJHSRZHU DQGDQRSHQUDFHZD\ZLWK

FDEOHVWKHPLQLPXPYHUWLFDO ORZYROWDJHSRZHUFDEOHVWKH

VHSDUDWLRQLVLQFKLIWKHHQFORVHG PLQLPXPYHUWLFDOVHSDUDWLRQ

UDFHZD\LVEHORZWKHRSHQ LVLQFKLIWKHHQFORVHG

UDFHZD\ UDFHZD\LVEHORZWKHRSHQ

 UDFHZD\

 )RUFRQILJXUDWLRQLQYROYLQJ  )RUFRQILJXUDWLRQVWKDW

HQFORVHGUDFHZD\VWKHPLQLPXP LQYROYHHQFORVHGUDFHZD\V

VHSDUDWLRQLVLQFKLQERWK WKHPLQLPXPYHUWLFDODQG

KRUL]RQWDODQGYHUWLFDOGLUHFWLRQV KRUL]RQWDOVHSDUDWLRQLV

 LQFK

 7KHPLQLPXPYHUWLFDO  7KHPLQLPXPYHUWLFDO

VHSDUDWLRQLVLQFKDQGWKH VHSDUDWLRQLVLQFKDQGWKH

PLQLPXPKRUL]RQWDOVHSDUDWLRQLV PLQLPXPKRUL]RQWDO

LQFKIRUFRQILJXUDWLRQVZLWKD VHSDUDWLRQLVLQFKIRU

QRQVDIHW\FRQGXLWDQGDIUHHDLU FRQILJXUDWLRQVZLWKDQRQ

VDIHW\FDEOHZLWKORZYROWDJH VDIHW\FRQGXLWDQGDIUHHDLU

SRZHUFDEOHVDQGEHORZ VDIHW\FDEOHZLWKORZYROWDJH

 SRZHUFDEOHVDQGEHORZ







3DJHRI