A fundor similar entity that has been set up for the purposes of issuing or investing in loans.

See definition Debt Vehicle

Property’s net operating income as a percentage of the total principal loan amount.

Property’s operating income as a percentage of the total principal loan amount

This is one of the accounts the borrowers may be required to maintain. If relevant, it is principally used for holding amounts to be applied in prepayment.

A loan provided to finance the development of a real estate asset

Rate above your floating benchmark rate.

The Disposals Account is used to hold the proceeds of disposal of a Property pending prepayment of Loans.

in syndicated facilities (more than one lender) the Facility Agent is the party which acts as an agent for all lenders in dealings with the borrower.

A fixed security interest over property which ranks in priority to all other claims.