The first is that the manager of the REIT and any of its affiliates ceases being the manager, and a replacement manager “reasonably acceptable to the lender” is not appointed on or prior to the date of cessation.
The manager of Starhill Global REIT (SGX:P40U
) has entered an amendment and restatement agreement with a bank that granted it a three-year unsecured and commitment revolving credit facility of $50 million, to extend the loan agreement for five years from Sept 30, 2024, according to a release dated June 14.
Under the terms of the facility agreement, the lender has the right to require Starhill Global REIT to repay the amount in full under two circumstances.
