{"investor_group_id":"1","date_received":"2026-02-27","question_original":"7. Absence of step-in rights : We understand and respect the philosophy of favoring asset-backed protection over complex governance.  \r\n\r\nThat said, has any alternative \"light\" protection been considered (e.g. acceleration triggers, cash sweep, enhanced reporting or cure periods) in the event of material underperformance prior to default","internal_owner_id":"4","draft_answer":"While the structure does not include formal step-in rights, several protective mechanisms are either embedded in the documentation or may be incorporated to address material underperformance prior to a formal default event.\r\n\r\nIn particular:\r\n\r\n1. Acceleration Triggers\r\nThe bond documentation may include clearly defined events of default and cross-default provisions allowing bondholders (via the security agent) to accelerate the notes if predefined financial or operational thresholds are breached.\r\n\r\n2. Cash Flow Controls \/ Cash Sweep\r\nIn case of underperformance, enhanced cash control mechanisms may be activated, including:\r\n- Mandatory allocation of sales proceeds to debt servicing;\r\n- Temporary suspension of discretionary expenditures;\r\n- Priority allocation to interest and principal repayment.\r\n\r\n3. Enhanced Reporting\r\nIf performance deviates materially from projections, investors may receive:\r\n- Increased reporting frequency;\r\n- Detailed breakdown of sales pipeline and liquidity position;\r\n- Updated financial projections and sensitivity analysis.\r\n\r\n4. Cure Periods\r\nBefore acceleration, defined cure periods may apply, allowing the issuer or project entity to remedy breaches (e.g., missed reporting, covenant breaches, liquidity shortfall) within a specified timeframe.\r\n\r\nThese mechanisms are designed to provide bondholders with graduated protections and early-warning responses, while preserving operational flexibility and avoiding unnecessary disruption to the project.","final_answer":"","status":"In progress","priority":"Medium","version":"V1 2026-02-27","update_date":"2026-02-27","linked_faq_id":"9","notes":"L\u2019investisseur ne conteste pas l\u2019absence de step-in rights, mais cherche \u00e0 savoir s\u2019il existe des m\u00e9canismes interm\u00e9diaires de protection avant d\u00e9faut formel. C\u2019est une demande tr\u00e8s institutionnelle.","updated_at":"2026-02-27 11:44:01"}