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When I was in the Pipeline the evening prior to Robin Sage (then Phase 4)graduation we had the Regimental "picnic" which was the actual Beret donning ceremony. They had abolished the Regimental Dinner the class prior for whatever reasons. At the fancy friends and family "official" graduation you recieved your Phase 2-4 certificates and your "Yarborough" knife. Then cadre TOOK the knife promptly upon the completion of the ceremony never to been seen again until you recieved the SF tab! Then you had two or three weeks block leave before reporting to language school (Phase 5) for 4-6 months. Finally you received your SF tab at the SERE graduation (Phase 6), where you were re-united with your "Yarborough" knife. So basically the Phase 4 (Sage) graduation was the big celebration with friends, family and keggers; and SERE graduation was special, yet low-key... followed by keggers. I'm am told the whole pipeline has just been revamped though... so who knows.