12-17-2023, 04:43 PM
(12-17-2023, 10:43 AM)Kit Kat Chunky Wrote:(12-17-2023, 10:24 AM)Remi_Moses Wrote:(12-17-2023, 08:49 AM)Kit Kat Chunky Wrote:(12-17-2023, 05:52 AM)Remi_Moses Wrote:(12-17-2023, 02:19 AM)Kit Kat Chunky Wrote: No he couldn't. The loan documentation will have change of ownership clauses, and material adverse change clauses. Any sale will have to be approved by MSD otherwise an Event of Default occurs.
Would MSD be bothered? top priority would be the payment of loans with interest. Looking after it's own investors and it's good name comes first
MSD will have to be paid first, and thats supposed to be £28M.
Is that with or without the interest.
I don't think anyone really knows, Rem. Given the Bridging nature of the loan, I would guess that interest is withheld I.e. deducted up front, but that is a pure guess.
Interest wouldn’t be deducted up front, but there could well be an early repayment penalty.