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At present, ACR’s viability as a going concern is in serious jeopardy. While the bondholders have thus far permitted BNYM to allow the use of its cash collateral to fund continuing operations, the bondholders anticipate that they may be forced to withhold consent in the near future, particularly if ACR and Polo North do not come to an agreement concerning ACR’s provision of energy to Revel that contains commercially reasonable terms and provides for full compensation to ACR for the power it supplies Polo North.
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