EW: Re: "So in effect, they "borrowed" the money."
I disagree. You borrow money when money changes hands. You may sign an agreement to borrow money that is contingent upon bank approval - which seems to be where NVEI is now - but that is not what the filing said. They dropped the ball on the filing pure and simple.
It's just a matter of getting the money in the account
You would be wise to not be under any delusions that the only thing left is to put the money in the account. According to the RAQ, Mercatus is not the lending authority, and the consortium of banks that is the lending authority apparently has not yet approved the loan.
Oh well, Brad did clear it up rather quickly, just not quickly enough to suit some folks here.
In one sense, I give Brad credit for at least partially clearing things up, but it is not truly cleared up until the filing is ammended.
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