Credit Release 3. Up to an additional15% of the total anticipated Waters of the U.S Credits (55% cumulative total) when all of the following have occurred: The Bank Sponsor has submitted the annual report (Section IX.B). Year 2 Performance Standards have been attained, as required by the Development Plan. The Bank Sponsor has funded a minimum of 55% of the Endowment Amount per Section VI.E.1.a.iii. Credit Release 2 has occurred. A minimum of two years of monitoring have been conducted since all requirements for Credit Release 2 have been met. Credit Release 4. Up to an additional 15% of the anticipated Waters of the U.S Credits (70% cumulative total) when all of the following have occurred: The Bank Sponsor has submitted the annual report (Section IX.B). Year 3 Performance Standards have been attained. The Bank Sponsor has funded a minimum of 70% of the Endowment Amount per Section VI.E.1.a.iv. Credit Release 3 has occurred. A minimum of one year of monitoring has been conducted all requirements for Credit Release 3 have been met. Credit Release 5. Up to an additional 15% of the total anticipated Waters of the U.S Credits (85% cumulative total) when all of the following have occurred: The Bank Sponsor has submitted the annual report (Section IX.B). Year 4 Performance Standards have been attained.
Credit Release 3. Up to an additional15% of the total anticipated Waters of the U.S Credits (55% cumulative total) when all of the following have occurred: The Bank Sponsor has submitted the annual report (Section IX.B). Year 2 Performance Standards have been attained, as required by the Development Plan. The Bank Sponsor has funded a minimum of 55% of the Endowment Amount per Section VI.E.1.a.iii. Credit Release 2 has occurred. A minimum of two years of monitoring have been conducted since all requirements for Credit Release 2 have been met. Credit Release 4. Up to an additional 15% of the anticipated Waters of the U.S Credits (70% cumulative total) when all of the following have occurred: The Bank Sponsor has submitted the annual report (Section IX.B). Year 3 Performance Standards have been attained. The Bank Sponsor has funded a minimum of 70% of the Endowment Amount per Section VI.E.1.a.iv. Credit Release 3 has occurred. A minimum of one year of monitoring has been conducted all requirements for Credit Release 3 have been met. Credit Release 5. Up to an additional 15% of the total anticipated Waters of the U.S Credits (85% cumulative total) when all of the following have occurred: The Bank Sponsor has submitted the annual report (Section IX.B). Year 4 Performance Standards have been attained.
BEI2017a.docx