SHIELD

    SHIELD is a contingency fund that we have the discretion to make available to any SPV requiring liquidity support where the SPV Reserve has been depleted. It is possible that an SPV could encounter a number of negative cash flow events at the same time, requiring funds in excess of the SPV Reserve and rental income. In such circumstances, SHIELD acts as a second line of defence for the SPV when the SPV Reserve has been exhausted. SHIELD is funded directly from British Pearl revenues and can be deployed to any SPVs, unlike the SPV Reserve, which is property specific.

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