6.5.3.1 Processing Non-Prorata Payments for Sighting Fund enabled Tranches

For non-prorata VAMI for the sighting fund enabled tranches, system checks the drawdown outstanding does not exceed the tranche availability.

System allows to Propagate VAMI to Drawdown as well as Propagate Ratio to DD for existing investors based on the following validations:

• Participants who are unfunded with No Fronting for past events are not allowed.
• Participants are not allowed beyond the latest actual receipt date for any of the underlying drawdowns for the investors involved in the transfer.

Note:

• System does not allow NPVAMI decrease with a new investor.
• System populates the new investor details in the SF payment browser with event as VAMB for which fronting details need to be captured, only after triggering the PRAM and VAMI events.
• System updates the new ratio/adds the new participant for future dated drawdowns if NPVAMI is done when the Propagate Ratio to DD box is selected.
• Non-Prorata button is disabled if the amendment date is beyond the last VAMI/PRAM/ Liquidation date.
• Back valued activities which are possible under the Pro Rata Tranche till the value date of the NPVAMI are listed in Back Valued Scenarios tab.
• System does not allow you to change participation for existing participant and adding new lender as part of same NPVAMI.