Training document. This Master Agreement, its Schedule, the Collateral Annex, the Rate Definitions Annex, the three Confirmations, the exhibits and the Hedge Sheets — and the bank, the borrower and every figure in them — are fictional. It is a deliberately simplified teaching text, written for this workbook and drafted to be read rather than to be used: it follows the architecture of the market's recommended standard forms but reproduces none of their text, and a real master agreement is longer, harsher and turns on its own facts. Copper chips like Explained in Ch. 12 link each part of the document to the chapter of the workbook that explains it. The loan this document hedges is the Facility Agreement of 14 July 2026 in the finance edition; the acquisition that loan funded is the Project Sunrise share purchase agreement in the M&A edition. The parties sign as Party A (Pellhaven Bank plc) and Party B (Atlas Payments Group plc) — the market's convention, the dealer as Party A — and Pellhaven signs here as principal, not as the Agent or a Lender under the Facility Agreement. One rule runs through every number in this edition: every rate names per annum and its day count, every percentage names its denominator, and every value names its side, its date, whether it is mid-market and who determined it. And one simplification, made on purpose so that every sum in this file can be checked with a pencil: every rate is a whole percentage, every full Calculation Period counts as 90 days on a 30/360 basis, and so every amount is a whole number of euros. A real confirmation would say actual/360 and print its rates to two decimal places; the training file rounds, and this sentence is where it says so.