Mm-hmm.

And then the third is character.

So character shows up when promises are made, but also when things don't go as planned.

And so when a sponsor presents themselves to investors and says, "Oh, everything is gonna go according to plan, you know, we, we don't see any issues with this project," investors don't have a lot of confidence because we all know that infrastructure projects almost rarely go as planned.

And so the ideal sponsor comes to the table and says, "Well, this is what we think will happen.

If it doesn't happen, we've budgeted for this sort of downside scenario." And, and when those downside scenarios do present themselves, they come to investors and disclose early what the issues are and what they're doing to solve the problems.

Um, and so this is just to note that, you know, every interaction and every decision is building or eroding credibility, and the sponsors have a role to play in converting that project bankability to actual commitment when they are building their projects.

Mm-hmm.