Additional Questions_PSP4003 Q3 2021_11.18

Payroll Support Program (PSP or 4112) Questions to Add in Q3 2021 Template

Question	Field Type	New Question Added	Rationale
Q1	Y/N	Have you transferred, pledged, mortgaged, encumbered, or otherwise assigned this Agreement or any Payroll Support provided under this Agreement to any party, bank, trust company, or other person?	Treasury ORP leadership and OGC would like to include a series of questions around section 43 of the PSP Agreements that addresses fundamental changes. Section 43 of the PSP Agreements notes “the Recipient has no right to, and shall not, transfer, pledge, mortgage, encumber, or otherwise assign this Agreement or any Payroll Support provided under this Agreement, or any interest therein, or any claim, account receivable, or funds arising thereunder or accounts holding Payroll Support, to any party, bank, trust company, or other Person without the express written approval of Treasury.” These questions address concerns about recipient fundamental changes.
Q2	Text Box	If yes, please provide the date of Treasury's written approval.
Q3	Y/N	Have there been any changes of company ownership since the execution of your PSP1, PSP2, or PSP3 agreement?
Q4	Upload	If 'yes' to any of the questions above, please upload an explanation that includes a description of the event, dates, affected assets and/or liabilities, other relevant information, and a copy of Treasury's approval.

4003 Loan Program (4003) Questions to Add in Q3 2021 Template

Question	Field Type	New Question Added	Rationale
Q1	Y/N	Was any Collateral swapped DURING the Report Quarter?	Treasury ORP leadership was concerned with Borrowers swapping collateral without Treasury’s knowledge or approval. These questions address concerns about Borrowers swapping collateral without the appropriate approval.
Q2	Y/N	Was Treasury approval for the swap received prior to the swap?
Q3	Upload	Please upload a document with a list of the Collateral interchanged and their value.
Q4	Y/N	Was any Collateral impaired or damaged DURING the Report Quarter?	Treasury ORP leadership was concerned with Borrowers not reporting impaired collateral. There have been instances in the past where borrowers do not inform Treasury of impaired collateral. These questions address concerns about Borrowers not reporting impaired collateral.
Q5	Upload	If any Collateral was impaired or damaged DURING the Report Quarter, please upload a document indicating the Collateral impacted and evidence of loss of value.