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  "documentTitle": "Hannon Armstrong Sustainable Infrastructure Capital (HASI)",
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  "notes": "The slide uses a transcript format to expose a discrepancy in loan figures ($140M vs $340M) provided by HASI investor relations.",
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      "text": "In a subsequent call, a member of HASI's accounting team declined to break out the composition of HASI's loans to EMIs, although the accounting team member confirmed that Vivint and its parent Sunrun received HASI loans.",
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      "text": "MW: We see there were $684 million in loans... HASI Investor Relations: Yes, that is right... MW: Sorry, is that $140 million or $340 million? HASI Investor Relations: I think the total is...",
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      "text": "5. Notes Payable Obligations. In October 2020, HoldCo Borrower and Senior Borrower entered into a Loan Agreement... for up to $430.0 million in committed facilities.",
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      "text": "HASI investor relations seemed to confirm to us initially that the $140 million subordinated term loan to Vivint 3 came from HASI:",
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      "text": "MW: We see there were $684 million in loans made to HASI's equity method investments [in 2021]. Do you have a breakdown on that? ... There is also a subordinated loan made to Vivint Solar Asset 3 for $140 million—is that HASI's loan? HASI Investor Relations: Yes, that is right. SunStrong is a majority of the loans to Hannon's equity method investments and Vivint 3 is $340 million.",
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