Cure Rights are designed to remedy a breach of a financial covenant and, within an agreed timeframe, avoid the occurrence of an event of default as a result of such breach.

A debenture is a type of instrument which usually contains charges and assignments over all assets and rights of the chargor.

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

See definition Debt Vehicle

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.