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Windermere VII CMBS (IRSH)

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Monday 05 November, 2012

Windermere VII CMBS

Standstill Agreement

RNS Number : 3227Q
Windermere VII CMBS Plc
05 November 2012
 

RIS NOTIFICATION

To:                                          The Irish Stock Exchange Limited
28 Anglesea Street
Dublin 2
Ireland

Headline:                                 Standstill Agreement

Date:                                        5 November 2012

Re:                                          Windermere VII CMBS p.l.c. (the "Issuer")

Class A1 Commercial Mortgage Backed Notes due April 2016

Class A2 Commercial Mortgage Backed Notes due April 2016

Class X Commercial Mortgage Backed Notes

Class B Commercial Mortgage Backed Notes due April 2016
Class C Commercial Mortgage Backed Notes due April 2016

Class D Commercial Mortgage Backed Notes due April 2016

Class E Commercial Mortgage Backed Notes due April 2016

Class F Commercial Mortgage Backed Notes due April 2016

 

(together, the "Notes")

 

Capitalised terms used and not defined herein shall have the meaning ascribed to them in the prospectus dated 12 May 2006 in relation to the Notes.

The Notes are admitted the official list of and to trading on the regulated market of the Irish Stock Exchange Limited.

Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse), together with implementing Commission Directives 2003/124/EC of 22 December 2003 and 2004/72/EC of 29 April 2004, as implemented by the relevant member states, require disclosure by or on behalf of the Issuer of any inside information concerning the Notes.

The following notice has been prepared by and issued at the request of the Special Servicer. The Issuer has not independently verified the information contained in this notice. Accordingly, the Issuer hereby gives notice with respect to the Nordostpark Mortgage Loan.

1.    We refer to the RIS notification dated 22 October 2012 pursuant to which the Special Servicer informed the bondholders and relevant parties of the Nordostpark Borrower's failure to pay the outstanding balance of the Nordostpark Mortgage Loan on the Mortgage Maturity Date (the "Repayment Event of Default").

2.    Upon the Nordostpark Borrower's request and to allow for the discussion of a consensual work-out of the Nordostpark Mortgage Loan jointly with the Nordostpark Borrower and the negotiation of the terms for such work-out the Special Servicer has agreed to, and the Nordostpark Borrower has accepted, a standstill in relation to the Repayment Event of Default and certain other defaults until and including 15 January 2013, 24.00 hours (CET) (the "Standstill").

3.    The Standstill is subject to certain conditions which, if not satisfied, result in an automatic termination of the Standstill.

4.    The Nordostpark Borrower has further given certain undertakings which, if not complied with, entitle the Special Servicer to an early termination of the Standstill.

For queries related to the above please contact: [email protected]

 

For and on behalf of Windermere VII CMBS p.l.c.

 

Signature:
Name:

 

This announcement has been issued through the Companies Announcement Service of

the Irish Stock Exchange.

 

 

 


This information is provided by RNS
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