Issued notes

A number of medium- to long-term enviromnental monitoring networks and programs have been developed over the past 4 decades in the United States, all of which have had to deal with network design issues noted here. Some of these efforts are summarized in Table 5.3. As indicated in Table 5.3, some programs have emphasized random or partially random designs, whereas others have utilized nonrandom designs but based on specific site criteria. 

Chronology is not the only contentious issue debates over the interpretation of morphological and genetic data are as contentious as that of dating. While the anatomical classification of hominids is often problematic and can take a subjective slant, the dating is in theory objective and absolute. The following examples, which have been selected to illustrate these issues are exemplars of the current debate, and cover the major issues noted above specifically from the perspective of U-series dating. 

This simplified description of molecular transfer of hydrogen from the gas phase into the bulk of the liquid phase will be used extensively to describe the coupling of mass transfer with the catalytic reaction. Beside the Henry coefficient (which will be described in Section 45.2.2.2 and is a thermodynamic constant independent of the reactor used), the key parameters governing the mass transfer process are the mass transfer coefficient kL and the specific contact area a. Correlations used for the estimation of these parameters or their product (i.e., the volumetric mass transfer coefficient kLo) will be presented in Section 45.3 on industrial reactors and scale-up issues. Note that the reciprocal of the latter coefficient has a dimension of time and is the characteristic time for the diffusion mass transfer process tdifl-GL=l/kLa (s). 

Double bond isomerization using molecular sieves (5A) was reported in the patent literature by Fleck and Wight of Union Oil Company [34] only a few years after synthetic zeolites became commercially available. More recently [35] ferrierite has also been claimed. The major initial uses were to convert a-olefins (1-olefins) into mixtures of internal olefins for further conversion, usually by oligomerization into various products-lube oil base stocks predominating. Inevitably, patents were issued noting the ability to convert internal olefins into mixtures containing greater concentrations of 1-olefins (e.g., [36]), but few practical processes have resulted. 

Following the execution of the OQ tests there may be issues noted that the LIMS does not function in accordance with the design as agreed upon during the Design Review process. As for the Installation Qualification Report the project team will need to review these failures and determine a plan of action or a justification for moving on to the next phase. 

Some additional practical issues noted in general terms in Table 5.1 also apply to the choice of laser. Water cooling or electrical power requirements other than 110 V can be inconvenient in an analytical lab, particularly for field or portable operation. As indicated in Table 7.1, the more powerful lasers such as Ar+ often have such requirements. In addition, the capital and operating costs of the lasers in Table 7.1 differ significantly and may be an issue in laser or spectrometer choice. Of the lasers listed, the diode, Nd.YAG (fundamental and doubled) and He-Ne lasers are relatively Inexpensive and do not require special cooling or power, while the Ar+, Kr" ", and doubled Ar+ lasers are more expensive and require special installation. 

The issues noted above that require increased control, relative to previous practice, include the following ... 

In addition to the technical issues noted above, the Army would have to demonstrate that a combined EDS-batch... 

In the measurement of deposition of aerosolised drugs using radioactivity, it is the radioactivity and not the drug that is being measured directly. Accurate quantihcation requires addressing all the issues noted above, including corrections for attenuation in various parts of the body, background radiation, and camera sensitivity. 

When objective measurement of performance capacities has been incorporated into many clinical trials, concepts and tools from human performance engineering can facilitate the selection of variables and shed some Hght on issues noted above. In either safety- or efficacy-oriented studies, study variable selection can be characterized as a two-step process (1) identification of the factors in question (Table 82.1) and (2) selection of the relevant performance capacities to be measured and associated measurement instruments. This Hnk between these two steps often represents a challenge to researchers for a number of reasons. First, duality in terminology must be overcome. Concerns about an intervention are typically initially identified with negative terms such as dizziness and not in terms of performance capacities such as postural stability. Human performance models based on systems engineering concepts [Kondraske, 1995] can be used to facilitate the translation of both formal and lay terms used to identify adverse effects to relevant performance capacities to be measured, as shown in Table 82.1. 

In this section, selected elements of an actual clinical trial are presented to further illustrate methods and issues noted above. To maintain confidentialities, the drug under test is simple denoted as drug A. 

Narration or voice-over, if done well, can be one of the best and most efficient ways to move your story along, not because it tells the story but because it draws the audience into and through it. Narration provides information that s not otherwise available but is essential if audiences are to fully experience your film. When documentary makers dive into fairly complicated historical policy or legal and legislative issues," notes filmmaker Jon Else, "narration is your friend. It may mean that you have only two or three lines of narration in a film, but something that might take 10 minutes of tortured interview or tortured verite footage can be often disposed of better in 15 seconds of a well-written line of narration."... 

A master trust allows an RMBS issuer to establish a sizeable securitisation programme, even with many series of notes secured through multiple SPVs, at a dramatically lower cost than through traditional separate securitisations. The ability to issue notes with a variety of maturities and redemption profiles allows the issuer to expand the available investor base and to tap into specific demand in the market. However, this process does rely on economies of scale and so is probably not the ideal form of securitisation for a smaller lender. Also, the requirement to maintain a minimum seller s share in the trust would make this type of structure less suitable than others for lenders wishing to securitise 100% of their balance sheet. 

In Exhibit 13.6, the loan note issuer, a special purpose vehicle (SPV) acquires the investor interest (Investor Beneficiary Interest) in the trust and finances the purchase by issuing loan notes to the issuer of the notes, a second SPV (Note Issuer No. 1). If new financing is required, the originator transfers new receivables into the trust and the loan note issuer creates a new investor interest in the trust, which is financed by the issuance of loan notes to a new notes issuer (Note Issuer No. 2, Note Issuer No. 3, and so on). The note issuer in turn finances the purchase of these loan notes by issuing notes to investors. 

As already discussed, collateralised debt obligations are a form of security whose interest and principal payments are linked to the performance of a specific pool of assets (sourced either directly or by reference). These underlying assets act as the collateral for the issued notes, hence the name. In terms of basic principals, there are many similarities between CDOs and their predecessors asset-backed securities (ABS) (see Exhibit 15.5). The major difference between CDOs and other ABS securities is... 

Investors purchasing the issued notes can expect to receive interest and principal payments as long as the underlying asset pool does not experience default to any significant extent. 

Overcollateralisation the overcollateralisation level vis-a-vis the issued notes must remain above a specified minimum for instance, it must be at 120% of the nominal value of the senior note. 

The structure is achieved by XYZ effectively buying 5-year caps struck at 4.50% on five times the notional principal of the note issued. Eor example, if XYZ issued notes with a face value of 10 million, it would effectively buy interest rate caps from investors with a notional principal of 50 million. The up-front premium of 19 bp in this example, therefore, becomes geared up to 95 bp, equivalent to 20 bp p.a. This enables the investor to receive their enhanced coupon, but the geared payment from the caps sold means that investors return diminishes rapidly in any period where EURIBOR sets above 4.50%. 

Issued Notes can have a variety of different structures. 

In an ABS or CDO the SPV will issue notes and will use the proceeds to purchase assets, in the case of an ABS, or debt, in the case of a CDO (the Collateral ). The SPV will receive a return from the issuer of the collateral and will use such returns to pay the investors a return on the bonds. 

The traditional concept of a custodian as explained above is applicable to those deal types that hold the assets noted. This is usually the case for ABCP programs (although these deals may be set up to fund exclusively trade receivable assets), collateralized debt obligations (CDOs), and special investment vehicles (SIVs). With certain forms of CDO transactions, the proceeds of issued notes are sometimes invested in collateral. This is also held by the deal custodian. In addition ABS deals may also... 

Notes issued in synthetic structures are organized by tranche. With the proceeds from the notes it issues to investors, the SPV purchases high-quality (AAA) liquid securities—for example, U.S. Treasuries, bank asset-backed paper such as credit card ABS, and German bonds, such as Pfandbriefe —to serve as collateral. This collateral will generate LIBOR-related interest and principal cash flows that the SPV passes on to the investors together with the swap premium, which creates an additional credit spread on the notes. The cash flows from the collateral may not match the payments due on the issued notes—for example, the bonds used as collateral may pay a flxed rate and the issued notes a floating one. To remedy this, the... 

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