Borrowings and deferred payments

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....e manner specified by the Board: Provided that such debt securities shall be listed on recognized stock exchange(s).] ^2[(2)] The aggregate consolidated borrowings and deferred payments of the REIT ^3[, holdco and/or the SPV(s),] net of cash and cash equivalents shall never exceed forty nine per cent. of the value of the REIT assets: Provided that such borrowings and deferred payments sha....

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....e obtained in the manner as specified in regulation 22. ^6[(4)] If the conditions specified in sub-regulations (1) and (2) are breached on account of market movements of the price of the underlying assets or securities, the manager shall inform the same to the trustee and ensure that the conditions as specified in this regulation are satisfied within six months of such breach.   ****....