FCC Proudreed Properties 2005 HSBC SG CORPORATE ...
FCC Proudreed Properties 2005 HSBC SG CORPORATE ...
FCC Proudreed Properties 2005 HSBC SG CORPORATE ...
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Delivery of documents<br />
A copy of the documents referred to in the section above may be obtained from the Management<br />
Company by the Noteholders or Unitholders and any Transaction Party upon request.<br />
The Management Company shall be responsible for communicating to the Noteholders, the Unitholders,<br />
the Noteholder Representatives the Custodian the Rating Agencies, the Paying Agents, the Cash<br />
Manager, the <strong>FCC</strong> Servicer, the Issuer Account Bank, the Hedging Providers, the Liquidity Facility<br />
Providers and, through the Paying Agents, the Irish Stock Exchange, copies of all reports in its possession,<br />
together with any other information in its possession required by any of the foregoing in respect of the<br />
Receivables.<br />
Quarterly Information – Investor Report<br />
On or before the Business Day immediately preceding each Interest Payment Date, the Management<br />
Company shall provide the <strong>FCC</strong> Servicer, the Custodian, the Cash Manager, the Paying Agents, the<br />
Liquidity Facility Provider and the Hedging Providers with an Investor Report setting out, among other<br />
things:<br />
• details of interest, Pool Factor and principal paid and payable on each class of Notes;<br />
• details of the Commercial Mortgage Loans (including any covenant testing);<br />
• the latest Market Value of the Property Portfolios (based upon the most recent Valuation Report);<br />
• details of each Property Portfolio by reference to property type and region;<br />
• details of the top 10 Occupational Tenants (by rental income generated) for each Property Portfolio;<br />
• details of any disposals and substitutions in respect of each Property Portfolio;<br />
• total Gross Rental Income and the Estimated Rental Value for each Property Portfolio; and<br />
• details of any proposed Development the cost (excluding VAT) of which is estimated to be in excess<br />
of the greater of u250,000 and 10 per cent. of the Estimated Rental Value of the relevant Secured<br />
Property.<br />
Custodian’s supervision<br />
In order to allow the Custodian to perform its supervisory duties in accordance with the applicable laws<br />
and regulations and the provisions of the Issuer Regulations, the Management Company shall deliver the<br />
draft of the documents referred to in above, by no later than fifteen (15) calendar days prior to the<br />
scheduled date on which such documents shall be issued, together with such information which have been<br />
necessary for the purposes of the issuance of the same, that the Custodian may reasonably request.<br />
The Units of the Issuer<br />
On the Closing Date, the Issuer shall issue two (2) Units of the same class with a nominal value of u 150<br />
(one hundred and fifty euros) each, for an issue price equal to 100% (hundred per cent) of the nominal<br />
value of each Unit. There shall be no other issue of Units after the Closing Date.<br />
The Units will be:<br />
(i) financial instruments (instruments financiers) within the meaning of Article L.211-1 of the French<br />
Monetary and Financial Code; and<br />
(ii) transferable securities (valeurs mobilières) within the meaning of Article L.211-2 of the French<br />
Monetary and Financial Code.<br />
In accordance with the provisions of Article L.211-4 of the French Monetary and Financial Code the Units<br />
are issued in dematerialised form (book entry form). No physical documents of title will be issued in<br />
respect of the Units.<br />
The Units will rank pari passu and rateably among themselves without any preference or priority; as<br />
between the Notes and the Units, the Notes will rank in priority to the Units, in accordance with the<br />
provisions of the French Monetary and Financial Code and the Issuer Regulations (in particular, the<br />
Issuer Priority of Payments).<br />
None of the Units shall be listed on any recognised French or foreign stock exchange or traded on any<br />
French or foreign securities market (whether regulated (réglementé) within the meaning of Articles L.421-1<br />
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