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02-02-2017, 10:09 PM
http://www.mas.gov.sg/~/media/MAS/Regula...202016.pdf
From Page 82 of the Property Funds Appendix:
"Guidance 3
A loan agreement may contain ‘change of control’ covenant if (a) the covenant is required solely by lenders; (b) the covenant
can be waived with the consent of lenders; and © the covenant is disclosed in accordance with the listing requirements of a
securities exchange. A ‘change of control’ covenant refers to a condition in a loan agreement which makes reference to the
interests of any controlling unitholder or place restrictions on any change of control of the property fund and the breach of
such a condition or restriction will cause a default in respect of the loan agreement."
It would definitely be useful to know the exact covenant.
From Page 82 of the Property Funds Appendix:
"Guidance 3
A loan agreement may contain ‘change of control’ covenant if (a) the covenant is required solely by lenders; (b) the covenant
can be waived with the consent of lenders; and © the covenant is disclosed in accordance with the listing requirements of a
securities exchange. A ‘change of control’ covenant refers to a condition in a loan agreement which makes reference to the
interests of any controlling unitholder or place restrictions on any change of control of the property fund and the breach of
such a condition or restriction will cause a default in respect of the loan agreement."
It would definitely be useful to know the exact covenant.