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  "presentationDate": "2019-10-01 00:00:00",
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  "notes": "The slide details the composition of lease security (Surety Bonds, Cash Security, Letters of Credit, Parent Guaranty) and their burn-off profile.",
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      "text": "Note: All numbers are as of June 30, 2019... (1) Total Rent Commitment... (2) Guaranty for L&T... (3) Based on all leases...",
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      "text": "Breakdown of Parent Lease Obligations: $145mm Surety Bonds, $60.7mm Cash Security, $932mm Letters of Credit, $1.2b L&T Guaranty, $4.2b Parent Guaranty",
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      "text": "For a majority of Parent Guaranties, the guaranteed amount burns off over time. The increase in Parent Guaranties in the second half of 2019 and 2020 is driven by signing additional Gate A deals...",
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      "text": "Most of our locations are leased by a 100%-owned SPE that acts as the lessee and operator of that location. The landlord typically requires some credit support...",
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      "text": "Corporate Structure",
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