{
  "id": "035",
  "title": "Warehouse rent normalisation",
  "difficulty": "medium",
  "instructions": "What rent does the company pay, to whom, and how does it compare with market?\n\nOutput: write your complete answer to `response.md`, including the documents you relied on and your reasoning.",
  "docs_dir": "../../data-room",
  "criteria": [
    {
      "title": "Lease payment",
      "match_criteria": "Identifies Rowan owner-entity rent USD 1,440,000 annually from `Warehouse_lease_pack.pdf`.",
      "facts": [
        "event.E-RENT.paid_rent"
      ],
      "deliverables": [
        "response.md"
      ],
      "id": "C-001"
    },
    {
      "title": "Market comparison",
      "match_criteria": "Uses `Foundry_Parkway_rental_opinion.pdf` market rent USD 960,000 to support a USD 480,000 annual EBITDA normalisation.",
      "facts": [
        "event.E-RENT.market_rent",
        "event.E-RENT.normalisation"
      ],
      "deliverables": [
        "response.md"
      ],
      "id": "C-002"
    },
    {
      "title": "Execution caveat",
      "match_criteria": "Explains no replacement lease is signed; the market-supported normalisation is not a secured cash saving or permitted covenant add-back.",
      "facts": [
        "/analyses/working_capital/basis/adjustment_interactions"
      ],
      "deliverables": [
        "response.md"
      ],
      "id": "C-003"
    }
  ],
  "deliverables": {
    "response.md": "response.md"
  }
}