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  "documentTitle": "Sunrun Inc. (RUN)",
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  "authorName": "Carson C. Block",
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      "text": "If any of these deal participants chooses not to participate in these transactions and RUN is unable to replace them, then RUN's money to fund its business activity will be cut off.",
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      "text": "To fund its business and aggregate enough PV Systems to reach a critical mass to securitize them, RUN relies upon warehouse facilities provided by a syndicate of banks.",
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      "text": "The ABS investors have a similar position to the warehouse facility. Warehouse lines provide short-term financing to RUN, but the PPAs from RUN at 20 to 30 years, so RUN has an active securitization program.",
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      "text": "If any of these deal participants chooses not to participate in these transactions and RUN is unable to replace them, then RUN's money to fund its business activity will be cut off. Just to put this in perspective, RUN outright sells 15% of the PV Systems that it creates, and does so below its reported creation cost.",
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