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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Issuer Priority of Payments means the Issuer Pre-Enforcement Priority of Payments and the Issuer<br />
Post-Enforcement Priority of Payments;<br />
Issuer Regulations means the regulations (règlement général) dated 21 October <strong>2005</strong> between the<br />
Management Company and the Custodian, pursuant to which the Management Company and the<br />
Custodian will create the Issuer and which relates to the creation and operation of the Issuer, and in<br />
particular to:<br />
(a) the assets transferred to the Issuer; and<br />
(b) the Notes issued in respect of the Issuer’s assets;<br />
Issuer Transaction Account means the general transaction account held in the name of the Issuer with the<br />
Issuer Account Bank:<br />
Issuer Transaction Documents means:<br />
(a) the Issuer Regulations;<br />
(b) the Paying Agency Agreement;<br />
(c) the Issuer Account Bank and Cash Management Agreement;<br />
(d) the Units Subscription Agreement;<br />
(e) the Notes Subscription Agreement;<br />
(f) the Receivables Transfer and Servicing Agreement;<br />
(g) each Issuer Transfer Document;<br />
(h) the Hedging Agreements;<br />
(i) the Property Manager Duty of Care Agreement;<br />
(j) the Liquidity Facility Agreement;<br />
(k) the Master Definitions and Framework Agreement; and<br />
(l) the Subordination Agreement,<br />
and any other document entered into by one or more Transaction Parties which is designated as an ‘‘Issuer<br />
Transaction Document’’ with the consent of the relevant Transaction Parties and the Management<br />
Company;<br />
Joint Lead Managers means <strong>HSBC</strong> Bank plc and Société Générale as joint lead managers of the issuance<br />
of the Notes;<br />
Junior Expenses means, in relation to a Borrower:<br />
(a) any voluntary prepayment of a Commercial Mortgage Loan by that Borrower;<br />
(b) any payment by that Borrower of principal, interest, default interest or other amounts payable under<br />
a Subordinated Loan;<br />
(c) any expenses incurred by that Borrower in connection with works relating to the compliance with<br />
applicable standards (mise aux normes), expansion or development of the Secured <strong>Properties</strong>, or<br />
with works relating to ensuring compliance with applicable standards (mise aux normes) or to repair<br />
and maintenance of properties subject to a Finance Lease and which are required to be carried out<br />
by that Borrower or any other operating costs in relation to properties subject to Finance Leases;<br />
(d) any payment by that Borrower to an Occupational Tenant relating to an obligation of restitution<br />
resulting from the termination of an Occupational Lease;<br />
(e) any Exceptional Operating Costs;<br />
(f) any fees and expenses payable by that Borrower to the Property Manager in excess of 3.5% of the<br />
aggregate of the Gross Rental Income of the relevant Secured <strong>Properties</strong> and of the gross rental<br />
income from the properties subject to the Finance Leases;<br />
(g) any expenses incurred by that Borrower in connection with the creation of any security to enable a<br />
Same-Day Substitution Disposal;<br />
(h) any Subordinated Loan or other loan to a Parent Obligor granted by that Borrower;<br />
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