RE:RE:RE:RE:RE:RE:RE:RE:RE:ETC Pipeline - M & A conference callWhaler, there has been much important learning this week about the ITS sector and ETC. More to come for sure. You should be aware that the 8.8x is based on four ETC existing contracts as outlined in slide 14. I'm guessing, but the difference between fixed point construction contracts and tolling contracts is that ETC is providing a service during a term of 10+ years. There is no reason to doubt the 8.8x factor.