We have a commercial entity borrower that requested a new $200M working capital LOC that terminated 2 existing $100M lines of credit. In addition to a UCC on ABA for the new line, we are also taking a 4th on the personal residence of the owner. IF either of the two prior lines being paid off were collateralized by a mortgage on the personal residence, we have a refinance, and the new line is reportable, even though the purpose is working capital. Is my thinking correct?
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