RE: Southern Financial - IA Request [I (Andrew Xu, June 28, 2016)

Thanks Andrew. For the caveat - we received updated financials which were sent over to your team as of 3/31/16 (Q1) - will forward under separate cover. Per the agreed ISDA amendment (attached), the client has 10 business days from the end of the relevant calendar quarter to deliver updated financials. Let us know if the caveat still applies? As of now the client has enough cash in house to meet the IA requirement -we can revisit if he wishes to post other assets. Best, Vahe From: Andrew X