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28-10-2019, 05:47 PM
(This post was last modified: 28-10-2019, 05:54 PM by angtc11.
Edit Reason: 2 announcements and liability of UC
)
New announcements by EHT
https://links.sgx.com/1.0.0/corporate-an...47e798e734
https://links.sgx.com/1.0.0/corporate-announcements/AK0YLGX9CNMGAT9H/c8dd80dca80030672d62afa1bdc441fd480d3907ac4cb73a53ed532e6fd9ebf1
According to this article below, the REIT has the contractual right (obligation?) to perform the maintenance. This suggests that the REIT is on the hook to maintain the ship should UC/its subsidiary default
EHT can also terminate the lease with UC for non-performance. This begs the question on who will want to take over the lease of QM if UC deems it uneconomical.
https://shentonwire.net/2019/10/28/eagle...n-default/
The trust added that in the event of a default, the REIT has a contractual right to perform the maintenance obligations itself, with reserve mechanisms in the lease to provide funding.
“If UC fails to satisfy its repair and maintenance obligations under its sublease, the Eagle Queen Mary Subsidiary has the unequivocal right to
terminate the Queen Mary master lease and enter into a new master lease with another party,” the REIT said.
https://links.sgx.com/1.0.0/corporate-an...47e798e734
https://links.sgx.com/1.0.0/corporate-announcements/AK0YLGX9CNMGAT9H/c8dd80dca80030672d62afa1bdc441fd480d3907ac4cb73a53ed532e6fd9ebf1
According to this article below, the REIT has the contractual right (obligation?) to perform the maintenance. This suggests that the REIT is on the hook to maintain the ship should UC/its subsidiary default
EHT can also terminate the lease with UC for non-performance. This begs the question on who will want to take over the lease of QM if UC deems it uneconomical.
https://shentonwire.net/2019/10/28/eagle...n-default/
The trust added that in the event of a default, the REIT has a contractual right to perform the maintenance obligations itself, with reserve mechanisms in the lease to provide funding.
“If UC fails to satisfy its repair and maintenance obligations under its sublease, the Eagle Queen Mary Subsidiary has the unequivocal right to
terminate the Queen Mary master lease and enter into a new master lease with another party,” the REIT said.