{"investor_group_id":"1","date_received":"2025-12-20","question_original":"How is the structure designed to perform if sales are delayed by 12\u201324 months?","internal_owner_id":"4","draft_answer":"The financial model includes downside cases where sales are delayed by 12 and 24 months. In these scenarios, the combination of (i) the DSRA, (ii) phased infrastructure works and (iii) reduced discretionary spending allows the structure to continue servicing interest for [\u25cf] months. If a prolonged adverse scenario persists, the security package and conversion option into lots are designed to preserve value and offer alternative outcomes for bondholders beyond simple cash repayment.","final_answer":"The financial model has been built with downside scenarios in mind, including cases where land sales are delayed by 12 to 24 months. In such events, the structure remains resilient through a combination of:\r\n\r\nA Debt Service Reserve Account (DSRA) pre-funded to ensure continuity of interest payments;\r\n\r\nPhased infrastructure deployment, minimizing upfront capital expenditure;\r\n\r\nControlled discretionary spending during low-revenue periods.\r\n\r\nIn parallel, our actual commercial track record provides additional reassurance:\r\n\r\nOver the past two years, the developer has consistently sold between 1 and 2 lots per month, without formal marketing or completed infrastructure.\r\nWith road and utility works being deployed in the coming months, we expect this absorption rate to accelerate significantly.\r\n\r\nShould an extreme delay scenario materialize, the collateral structure and lot conversion mechanism are designed to preserve investor value and enable alternative exit options beyond cash repayment.","status":"In progress","priority":"Medium","version":"V1 2025\u201112\u201122","update_date":"2025-12-23","linked_faq_id":"5","notes":"we re dead if this happen, but there s not reason it should unless global catastrophe of sone sort, let s talk about it","updated_at":"2026-01-15 12:35:48"}