Contract analysis

1. Prepare interim billing through November 2022; target submission by the December 15 billing cycle.

2. Code the matter as dormant in our system once shelving is formally confirmed.

3. Coordinate with Nolan Whitford's office on any fee arrangement or deferral discussions if QIH raises them. I don't expect they will, but let's be prepared. **Yuki —**

1. Draft a formal letter from me to the QIH Board (addressed to Marcus Devereaux as CEO, with copies to Priya Raghavan and Nolan Whitford) recommending shelving and summarizing the spread analysis and sunk costs. I'd like to see a draft for my review by **Thursday, November 10**.

2. Draft a separate notification letter to Ridgeline Capital Markets (attention: Julian Weatherstone) directing them to cease all investor marketing immediately and confirming that the offering is suspended. This should be ready for my review by early next week — we'll target send date once QIH Board confirmation is received.

3. Coordinate with Harrison Collier at Calloway & Brandt to inform them of the suspension. A brief call or email once the client's decision is confirmed will suffice. **Carlos —**

1. Prepare a comprehensive index of all transaction documents in their current state — execution drafts, draft opinions, UCC filings, certificates, everything — and ensure the document management system reflects current version status. The near-final documentation package dated October 12 should be clearly marked as the most recent iteration.

2. Confirm that no UCC-1 financing statements were filed. All three — QPF/QRH, QRH/QRF 2022-1, and QRF 2022-1/Calvoneth Trust — should remain in draft only. Please verify this affirmatively.

3. Note any steps needed to preserve the SPV entities — QRF 2022-1 (DE SOS File No. 7894231) and QRH (DE SOS File No. 7894228) — so they remain in good standing for potential reactivation. This means annual reports, registered agent maintenance with Ashgrove Services Inc., Delaware franchise tax, etc. Put together a short calendar of what's due and when.

4. Flag the Fortbridge independent manager agreements — Timothy R. Callan for QRF 2022-1 and Eleanor M. Vasquez for QRH. Determine whether these need to be maintained during dormancy or can be suspended to save the client ongoing costs. Come back to me with a recommendation. **Sylvia —**

1. No further work needed on the draft tax characterization opinion or the true sale opinions at this time. All should be preserved in current draft form (dated October 8–10, 2022).

2. Please note that if the deal relaunches, we will need to refresh the tax structuring memorandum (August 12), FATCA compliance memo (August 18), and state tax nexus analysis (September 1) for any changes in law or IRS guidance in the interim. No action required now — just flagging for your awareness. **Preserving Optionality** I want to be clear: QIH's intent is to relaunch when spreads normalize. This is a market-