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10 <br /> 1 David Rooks: And if this project were approved and constructed, would Sunlight Partners, <br /> 2 through whatever entity it might have created, own that entity— own that array? <br /> 3 <br /> 4 Michael Wallace: Yes sir, they would. Sunlight Partners is working with a company— <br /> 5 Sundurance Energy—who is a company, a construction company- Conti -who does work in the <br /> 6 state of North Carolina. It's a joint venture, 50/50. Sundurance will come in and set up the <br /> 7 panels and maintain them from an 0 and M standpoint under the joint venture. And Sunlight <br /> 8 Partners acts as the developer in this venture. <br /> 9 <br /> 10 David Rooks: And after it is all constructed, will Sunlight Partners continue to have an interest? <br /> 11 <br /> 12 Michael Wallace: Yes sir. <br /> 13 <br /> 14 David Rooks: And this is a departure from your normal practice. <br /> 15 <br /> 16 Michael Wallace: No it is not, sir. We uh —typically this is what we do as a company. <br /> 17 <br /> 18 David Rooks: I'm confused, because you told me a few minutes ago that Sunlight Partners <br /> 19 owns only one solar farm in the country. <br /> 20 <br /> 21 Michael Wallace: Correct. So Cate Street Capital works with several companies across the <br /> 22 country in ventures like this, whether it is biomass, whether it be paper mills, and they are wholly <br /> 23 owned by Cate Street Capital; but they operate on their own terms. So Sunlight Partners will <br /> 24 continue to own and operate this with Sundurance as a 50/50 venture, which is typical to how <br /> 25 Cate Street Capital operates their businesses. <br /> 26 <br /> 27 David Rooks: That's all I have. Thank you. <br /> 28 <br /> 29 Michael Fox: If I could, Mr. Wallace, just get you to clarify one question. Could you explain the <br /> 30 relationship between Sunlight and Cate Street? Is one owned by the other and is that...? <br /> 31 <br /> 32 Michael Wallace: Yes, so Sunlight Partners is a company that is wholly owned by Cate Street <br /> 33 but operates under its own entity. We, Cate Street, has a— obviously an interest in the party. <br /> 34 We work with Sunlight, as a representation of me being here tonight, and it is part of our interest <br /> 35 to see the project successful with Sunlight Partners. <br /> 36 <br /> 37 Michael Fox: And just to clarify, could you — I think you mentioned it briefly, but I don't think <br /> 38 you explained it—the Cate Streets principal business, and the sister companies that- to <br /> 39 Sunlight—that Cate Street owns. <br /> 40 <br /> 41 Michael Wallace: Yes, so the uh —there are several sister companies under Sunlight Energy, <br /> 42 approximately 48 in the state of North Carolina now, that are under this same process <br /> 43 submitting applications for solar within the state of North Carolina. <br /> 44 <br /> 45 Michael Fox: I was actually asking about the sister companies to Sunlight that Cate Street <br /> 46 owns in your business - green energy business. <br /> 47 <br /> 48 Michael Wallace: Oh, yes. Yes, absolutely. Sorry, Mike. We have several other companies <br /> 49 within —one operating within the state of Florida, one operating within the state of Maine, <br /> 50 another within the state of New Hampshire. And these are different ventures for renewable <br /> 51 energy—some solar, some biomass, some into the paper mill industry— all with the same type <br />