Chatham is very experienced with regards to FAS 107, FIN 45, defeasance accounting & REIT tax issues. Chatham can provide hedge designations for tax, can value debt and model 10% changes for disclosures, and can deliver SEC reports and journal entries for debt instruments.

• Guarantees may be liabilities that must go on Balance Sheet
• Successor Borrower structure may determine P&L event at the time of a defeasance