rattle, my understanding is that the 5% deposit is only based on the $6.5M indue money because that's the only component of the $15M that STL is on the hook for based on the fund's commitment, i.e. that the fund is responsible for given they haven't come up with the funds.
Why should the fund stump up for a deposit on additional funds from the $15M that haven't been committed to an acquisition?
Cheers, Sharks.
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