FCC Proudreed Properties 2005 HSBC SG CORPORATE ...

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1 – BALANCE SHEET – ASSETS Corporate name: PROUDREED France Address of the company: 36, avenue Hoche 75008 Paris SIRET number: 423 990 266 Uncalled subscribed capital 31 December 2004 31 December 2003 Gross amount Accumulated depreciation, amortisation and provisions Net amount Net Amount 1 2 3 4 INTANGIBLE Initial investment cost Research and development expenses Concessions, patents and similar rights Goodwill 1,564,329 1,564,329 Other intangible assets Advances and deposits on intangible assets Land 18,689,888 18,689,888 18,506,888 TANGIBLE Buildings 61,485,895 10,728,924 50,756,971 52,208,217 Industrial fixtures, equipment and tooling Other tangible assets 93,404 In-progress fixed assets 187,914 187,914 Advances and deposits Consolidated shares FINANCIAL Investments 527,597 527,597 527,597 Receivables related to investments Capitalised securities Loans Other financial assets 114 TOTAL (II) 82,455,623 10,728,924 71,726,699 71,336,221 Raw materials and supplies CURRENT ASSETS INVENTORIES Products and services undergoing processing Services undergoing processing Semi-finished and finished goods Goods held for resale Advances and deposits paid to suppliers 927,306 927,306 1,585,725 RECEIVABLES Accounts receivable and related accounts 1,537,002 690,564 846,438 1,649,536 Other receivables 11,715,068 74,888 11,640,180 2,750,407 Unpaid subscribed and called-up capital Investment securities (among which ......... treasury shares) 1,030,942 MISCELL. Quick assets 222,120 222,120 566,451 Prepaid expenses 275,262 275,262 167,840 TOTAL (III) 14,676,759 765,452 13,911,307 7,750,899 REGULARISATION ACCOUNTS Expenses amortised over more than one financial year (IV) 1,134,512 1,134,512 1,861,819 Premium on bond redemption (V) Translation differential (VI) GRAND TOTAL (I TO VI) 98,266,894 11,494,376 86,772,518 80,948,939 193
2 – BALANCE SHEET – LIABILITIES AND SHAREHOLDER’S EQUITY Corporate name: PROUDREED France 31 December 2004 31 December 2003 SHAREHOLDER’S EQUITY Share capital (incl. paid-up capital: 8,192 ) 8,192 8,192 Issue premium, merger surplus, share premium 140,832 140,832 Reevaluation surplus (consolidation surplus: EK ) Legal reserve 819 819 Statutory or contractual reserves Regulated reserves (incl. special reserve for provision for price fluctuations) Other reserves Retained earnings / losses 3,440,446 1,946,700 NET INCOME OR LOSS 806,407 1,493,746 Investment subsidies Regulated provisions 43,342 TOTAL (I) 4,440,039 3,590,290 OTHER STOCKHOLDER’S EQUITY Yield from issuance of non voting shares Conditional advances TOTAL (II) Reserves for contingency / liability & charges Reserves for contingencies Provisions for liabilities and charges 246,800 77,812 TOTAL (III) 246,800 77,812 LIABILITIES Convertible bond loans Other bond loans Debts / loans granted by credit institutions 53,423,216 54,691,059 Other financial loans and debts (incl.Loans entitling the bank to an interest in the company EI) 22,976,315 17,156,062 Advances and deposits collected on orders in progress Accounts payable and related payables 718,018 731,158 Tax payable, payroll and debts to social institutions 955,422 1,208,036 Debts on fixed assets and related accounts 557,339 121,369 Other liabilities 2,088,570 2,108,753 Regular. account Deferred income 59,879 69,155 TOTAL (IV) 80,778,760 76,085,592 Translation differential 1,306,919.00 1,195,245 GRAND TOTAL (I TO V) 86,772,518 80,948,939 194
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FCC Proudreed Properties 2005 a Fre
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(having taken all reasonable care t
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CONTENTS SECTION PAGE PRINCIPAL CHA
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PRINCIPAL CHARACTERISTICS OF THE CO
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LTV Ratio: Security: Insurance: Mor
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DIAGRAMMATIC OVERVIEW OF PARTIES AN
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is one Business Day following such
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SARL Enoville is a French limited l
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Hedging Agreements. For a descripti
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For further details as to the risks
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2. Tenant Concentration (Top 10 Ten
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6. Sectoral Weightings: (Industrial
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Paris Properties 1. Summary descrip
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Property Name Property address Type
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3. Lease type and length of lease S
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7. Details of the Top Ten Propertie
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Property Number 7 Property Name Cha
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PRINCIPAL FEATURES OF THE NOTES Bel
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‘‘AA’’ by Fitch and a ratin
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Interest Rate Risks Interest on the
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after among other things, payments
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same criteria as apply to the Secur
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Although any successor manager of a
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within the Property Portfolio relat
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this judicial procedure. The judgme
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Risks relating to Planning - Right
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(a) to obtain an order for, or paym
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Secured Properties The Secured Prop
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described under ‘‘Obligor Secur
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(together with accrued interest). F
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date on which sale proceeds are rec
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Facility Fees Pursuant to the terms
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• details of the Property Manager
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taking into account any rent guaran
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(d) any Obligor or the Borrowers’
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(or u100,000 for Proudreed France S
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Account and the related Disposal Ex
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The ‘‘Due Diligence Criteria’
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(e) a deposit (by way of gage-espè
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Pursuant to the terms of the Proper
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negatively affect the credit qualit
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provided however that no such termi
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RESOURCES AVAILABLE TO THE BORROWER
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Reserve. Furthermore, in the event
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Obligor Post-Enforcement Priorities
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Account following the occurrence of
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(e) fifth, in or towards satisfacti
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On delivery of a Note Enforcement N
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VALUATION REPORTS 22 septembre 2005
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We attach schedule of values, divid
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15 June 2005 Proudreed France Sarl
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Finally, we would ask that neither
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Finally, we would ask that neither
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This valuation is provided for the
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We confirm that we are able to comp
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We confirm that we are able to comp
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For recently completed developments
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Schedule of Values - Appendix 1 130
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Appendix 2 - Schedule of Values 132
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Appendix 4 Net Market Fund Ref Prop
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We are in the opinion that the valu
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Assets of the Issuer Receivables an
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The Custodian will receive a fee, p
Page 143 and 144: et seq. of the French Monetary and
Page 145 and 146: THE BORROWERS The Paris Properties
Page 147 and 148: • borrowing or more generally rai
Page 149 and 150: Loan Capital: Commercial Mortgage L
Page 151 and 152: − and generally all transactions
Page 153 and 154: 7 rue d’Amiens S.C.I. Introductio
Page 155 and 156: • granting any security interest
Page 157 and 158: 1 - BALANCE SHEET - ASSETS Corporat
Page 159 and 160: 3 - INCOME STATEMENT Corporate name
Page 161 and 162: NOTES TO THE ACCOUNTS Before repart
Page 163 and 164: FIXED ASSETS Corporate name: PARIS
Page 165 and 166: RESERVES IN THE BALANCE SHEET Corpo
Page 167 and 168: TABLE OF ACCRUED ASSETS AND ACCRUED
Page 169 and 170: LEASING Corporate name: PARIS PROVI
Page 171 and 172: AFFILIATED COMPANIES AND INVESTMENT
Page 173 and 174: P.P.M.P.P. Financial Statements Yea
Page 175 and 176: 2 - BALANCE SHEET - LIABILITIES AND
Page 177 and 178: 3 - INCOME STATEMENT (CONTINUED) Co
Page 179 and 180: Corporate name: P.P.M.P.P. FIXED AS
Page 181 and 182: RESERVES IN THE BALANCE SHEET Corpo
Page 183 and 184: TABLE OF ACCRUED ASSETS AND ACCRUED
Page 185 and 186: SECURITY INTEREST GUARANTEED DEBTS
Page 187 and 188: The Paris Properties Parent Obligor
Page 189 and 190: which it is or will be a party (inc
Page 191 and 192: Principal Activities The principal
Page 193: PROUDREED FRANCE Financial Statemen
Page 197 and 198: 3 - INCOME STATEMENT (CONTINUED) Co
Page 199 and 200: The principal schedules of deprecia
Page 201 and 202: DEPRECIATION Corporate name: PROUDR
Page 203 and 204: TABLE OF RECEIVABLES AND LIABILITIE
Page 205 and 206: Corporate Name: PROUDREED France DE
Page 207 and 208: Corporate name: PROUDREED France FI
Page 209 and 210: AFFILIATED COMPANIES AND INVESTMENT
Page 211 and 212: THE HEDGING PROVIDERS HSBC Bank plc
Page 213 and 214: TERMS AND CONDITIONS OF THE NOTES T
Page 215 and 216: above, on the basis of the offered
Page 217 and 218: (k) the Master Definitions and Fram
Page 219 and 220: and Paris Properties SARL and, in r
Page 221 and 222: (vi) ‘‘repay’’, ‘‘redee
Page 223 and 224: (ii) if there are no Class A Notes
Page 225 and 226: Priority of Payments Following Enfo
Page 227 and 228: Determination of Rates of Interest
Page 229 and 230: (although the Issuer will not have
Page 231 and 232: Currency of Payment (b) Payments in
Page 233 and 234: (f) (i) (ii) agreed that until all
Page 235 and 236: Management Company and the relevant
Page 237 and 238: Notices by Delivery to Euroclear, E
Page 239 and 240: TAXATION French Taxation Pursuant t
Page 241 and 242: which it sells Notes during the dis
Page 243 and 244: (c) the excerpts of the financial r
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Borrowers Account Bank means (i) in
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(b) (B) not confer a direct or indi
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FCC Servicer means each entity appo
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La Défense, France respectively (o
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Interest Period means each period f
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(i) (j) any dividend payment by tha
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Mortgage means (i) the mortgages (h
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(iv) any amounts payable by the Iss
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Loan Agreement during such Forward-
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Regulation S means Regulation S und
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HSBC Bank plc 8 Canada Square Londo
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