I think saying “Full MLE”, “Taxpayer MLE”, and “Room Exception” only serve to confuse things because people view them as 3 separate entities with their own rules. However, I think it’s much simpler to say there’s one MLE with 4 rules:

1. If you use any of the MLE, you are hard capped at the 2nd apron
2. If you use more than the taxpayer amount (5mil), then you are hard capped at the 1st apron
3. If you have cap space, you can only use 8mil
4. Otherwise, you can use about 12-13mil