What a dipwad........the notes become debt of the buyers. Read it dummas. The notes are backed by the owners of the systems. SCTY gets a win with the debt off of their books. Now if the owners default, the thing crumbles. No different than a mortgage payment, except if owners do not pay 1) can the debt holders turn off the system's ability to generate electricity? I don't know the answer to that as yet 2) can the debt holders repo the system? Could be a challenge. Exposure becomes that of the debt holders not SCTY, but then will hinder ability to further finance.