Sorry mwilson, I didn't intend to come across as nit picky. I agree that it is possible they had the cash when they signed the BIA and still will have it during the offer period, but I think it more likely to mean they didn't have the cash when they signed the BIA, but expect to have it when the offer opens. Writing it the way they have gives them a bit of flexibility when it comes to interpretation of that clause, particularly should conditions like those specified in 3.8(i)(B) come into play. I should also have been clear that the section 3.8(i)(B) that I referred to is that section of Schedule 1 of the BIA.
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