People do not sign models - They sign the contracts that those models represent. Public-Private Partnership Financial Modeling and Legal Analysis is a Vair Training Master Class and focuses uniquely on international PPP projects and their related modeling issues. Course participants include: Infrastructure Heads, CFOs, Financial Analysts, Project Finance Teams, Corporate & Structured Finance Teams, Investment & Evaluation Professionals, Business Development Planners, Joint Ventures Specialists, Contactors, Gov\'t Finance Officers/Treasurers, Accountants, PF/PPP Attorneys

1. "The most useful and practical
PF/PPP course I've ever taken."
- Infrastructure Ontario Director
Vair Training LLC
NEW! Incorporating new debt profiles to meet existing market conditions
● Build an extensive concessionaire bid model
● Learn advanced modeling techniques for robustness
● Review for specific legal, contract and structure due diligence
● Use financial models to guide negotiations and decision-making
● Learn to “negotiate off the model” and dovetail the model and contract
● Engage in real-time commercial discussions with active
project developer/financial advisor and PPP legal experts
Taught by:
Charles T. “Chip” Haskell, Jr. Managing Director, The Vair Companies Inc.
Frank M. Rapoport Esq., Partner, McKenna Long & Aldridge LLP
Public-Private Partnership
Financial Modeling and Legal Analysis
In association with
presents:
Register Today: +1 866 410 VAIR (8247) or info@vaircompanies.com
November 16 - 17, 2010 NEW YORK

2. Vair Training: NEW YORK
PPP Financial Modeling and Legal Analysis
COURSE OBJECTIVES
NEW! Analyzing and modeling project documents including RFP, Project Agreements, Guaranteed Price
Contracts, Lenders' Direct Agreements, Value-for-Money Reports, etc.
People do not sign models - They sign the contracts that those models represent. Public-Private Partnership
Financial Modeling and Legal Analysis is a Vair Training Master Class and focuses uniquely on international PPP
projects and their related modeling issues. After reviewing some basic elements that separate PPP from
traditional infrastructure and project financing, the participants are given a full suite of project documents and
macroeconomic information that are indicative to infrastructure projects. This is followed by a step-by-step
procedure of building a complex model for a concessionaire bid. This phase of the course demonstrates how to
dovetail contracts and shows that nothing in PPP is mutually exclusive.
Once completed, the delegates review the model from a due-diligence analysis, usually taken from a government,
lender or third-party equity perspective. The final phase of this module uses sophisticated model techniques to
help the practitioner “price the deal” and “negotiate off the financial model”. Special consideration is given to
more advanced PPP issues like liquidated-damages analysis, drop-down and direct agreements, and appropriate
security packages. The course’s overriding theme is to use the model as a highly-developed financial analysis
tool that reviews the appropriate risk-versus-reward profiles of project finance. This is an advanced course and is
geared to the intermediate-to-advanced delegate.
COURSE OUTLINE
Part 1 - Project Finance for PPP Part 13 - Financing
Part 2 - The Role of the Model and Common Rules Part 14 - The Income Statement
Part 3 - The Risk Matrix Part 15 - The Balance Sheet
Part 4 - Introduction of a Project for Modeling Part 16 - The Statement of Cash Flows
Part 5 - Legal Due Diligence, Documentation, Permitting Part 17 - Equity Returns
& Structuring Part 18 - Loan Values
Part 6 - The Assumption Page Part 19 - “Pricing the Deal” and Analysis
Part 7 - Revenue: Availability vs. Service & Unitary Payment Part 20 - Documenting Changes to the model
Part 8 - Operations Part 21 - Analysis of Liquidated Damages (“LD”),
Part 9 - Construction Asset Renewal & Lifecycle Reserves
Part 10 - Insurance Part 22 - Monte Carlo Simulation
Part 11 - Taxes
Part 12 - Depreciation
For a detailed course syllabus, click here
● ABN AMRO
● BNP Paribas
● Citi
● Carillion
● Eskom
● Export Development Canada
● General Electric
● Infrastructure Ontario
● Macquarie
● NordLB
● Ontario Teachers' Pension Plan
● PPP Canada
● Pemex
● Royal Bank of Canada
● Royal Bank of Scotland
● Santander
● Shell Gas & Power
● Societe Generale
● US Export-Import Bank
● WestLB
● World Bank/IFC
PREVIOUS PARTICIPANTS INCLUDE DELEGATES OF:

3. ABOUT THE INSTRUCTORS
Charles T. Haskell, Jr.
Charles T. “Chip” Haskell, Jr. is a Managing Director with The Vair
Companies and author of Advanced Modelling for Project Finance for
Negotiations and Analysis. He has taught financial modeling to delegates
from hundreds of organizations worldwide.
Before founding The Vair Companies, Chip was a Director with Mirant,
based in Amsterdam. Prior to joining Mirant, Chip was a Manager with
Wärtsilä Development and Finance.
Chip has a BA in Economics and French from Hanover College, an MA in
French from Middlebury College and a Masters in International Finance
and Accounting from Thunderbird School of Global Management.
Frank M. Rapoport
Frank M. Rapoport is a senior partner and Chair of the Global
Infrastructure and Public-Private Partnerships practice at McKenna Long
& Aldridge LLP.
Frank is widely regarded for his ability to strategize and implement
profitable business initiatives for clients in the transportation, real estate
development, construction, design and engineering, defense and
aerospace, security, life sciences, healthcare, information technology,
and government services industries.
He recently led a real estate developer from project inception to achieve
a $2B inventory in the military housing privatization initiative. His team at
McKenna Long & Aldridge includes specialists in U.S. and international
government contracting, government affairs at all levels, and seasoned
business and economic advisors with years of transportation,
infrastructure and privatization experiences, both domestic and
internationally.
Frank routinely counsels companies on bid protests, debarment and
suspension, defective pricing, procurement fraud and voluntary
disclosure, change order claims, differing site condition claims,
government-caused delay claims, convenience and default termination
claims, breach of contract claims, subcontractor claims, business and
minority issues, joint venturing, privatization, and marketing to the
federal, state, and local government.
Vair Training: NEW YORK
PPP Financial Modeling and Legal Analysis

4. About The Vair Companies Inc.
The Vair Companies offers financial advisory, training and seminar
services to organizations and individuals working in the international
infrastructure and project development industry. We are active advisors
to sponsors, lenders, participants and governments in the infrastructure
sector, having advised on the closing of over USD 3 billion in assets
globally.
During training, we use the same real-world methods and industry
techniques we employ on behalf of our advisory clients. Our courses are
taught by active financial advisors and project developers who impart the
same techniques used to drive real projects, valuations and deals. Vair is
not a PowerPoint-based training firm. Instead, we apply a “hands-on”,
“learn-by-doing” approach to our teaching.
For more information, visit www.vaircompanies.com
About McKenna Long & Aldridge LLP
McKenna Long & Aldridge LLP is an international law firm with 475
attorneys and public policy advisors. The firm provides business solutions
in the areas of environmental regulation, international law, public policy
and regulatory affairs, corporate law, government contracts, intellectual
property and technology, complex litigation, real estate, energy and
finance.
To learn more about the firm, its professionals and services, log on to
www.mckennalong.com
Vair Training: NEW YORK
PPP Financial Modeling and Legal Analysis

5. Vair Training: NEW YORK
Registration Form
Fax completed registration form to +1 678 802 3222 or register online at www.vaircompanies.com
For more information, please call +1 866 410 VAIR (8247) or email info@vaircompanies.com
Registration Form
Prefix: First Name: Last Name:
Title: Department: Company/Organization:
Street Address:
Mailing Address:
City: State/Prov.: ZIP/Postal: Country:
Email: Phone: Fax:
How did you hear about us?:
Please register the following number of delegates for:
 PPP Financial Modeling & Legal Analysis Nov. 16-17, 2010 New York ____ delegate(s) at US$3,900/ea
Early-Bird Special: 10% discount for registrations and payments received by Sept. 20, 2010
Group Rates: 20% discount for the third and subsequent delegates from the same organization
Student Rates: 50% off standard rates (additional Early-Bird Special and Group Rates do not apply)
Choose one form of payment:
 Check: Invoice me (applicable discounts will be applied)
 Credit Card: Charge my card US$___________ (applicable discounts will be applied)
 Visa
 Mastercard
 Diners Club
Card Holder Name: ___________________________ Credit Card #: ___________________________
Expiration Date: ___________________________ Signature: ______________________________
Registration Information:
Fee: Registration fees include morning coffee/tea, networking lunches and afternoon refreshments. Delegate lodging not
included.
Billing and Confirmation: Invoices and/or Payment Confirmations are forwarded within three (3) business days of receipt of
registrations.
Venue: Vair Training courses are held at world-class international venues. Locations, times and meeting places are confirmed
two (2) weeks prior to course commencement.
Materials: Course materials are provided electronically on Day 1 of on-site registration. Delegates are required to bring a
laptop computer equipped with Microsoft Excel software.
Hours: Courses run 9:00 AM–5:00 PM daily
Cancellation Policy: All cancellations must be received in writing. A full refund less a 15% administrative fee will be given for
cancellations up to 21 days before the event start-date. Cancellations received less than 21 days before the event will not be
eligible for a refund. A comparable future course may be attended in lieu of a refund depending upon availability and
location. Delegate replacements are also welcome.
Schedule Changes: Vair Training may find it necessary to reschedule or cancel sessions and will give registrants appropriate
advance notice of such changes. On such occasions, full refunds will be given. Vair Training will not be responsible for
penalties incurred as a result of discounted airfare purchases. For more information regarding Vair Training administrative
policies, please contact our offices at +1 770 853 0362.