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  "documentTitle": "J.P.Morgan | Investment Banking Pitch Book | 32 slides",
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  "authorName": "JPMorgan",
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  "presentationDate": "2006-04-01 00:00:00",
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  "notes": "Details tax asset valuation and Section 382-style limitations.",
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      "text": "Kerzner has $279.8mm of U.S. NOLs outstanding in its Kerzner International North America, Inc. (\"KINA\") subsidiary\n$0.5mm are restricted in use\n$279.3mm are unrestricted\nIn a change of control transaction, Kerzner’s NOLs will be subject to certain restrictions\nLimit on using more than (4.36% * equity value of KINA) of NOLs in any given year\nOnly exception is that if Kerzner sells any assets within KINA where the sale price is greater than the basis, Kerzner may be able to utilize the NOLs without limitation to shield any capital gains",
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      "text": "Value of NOLs",
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