7. Absence of step-in rights : We understand and respect the philosophy of favoring asset-backed protection over complex governance. That 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

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.

In particular:

1. Acceleration Triggers
The 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.

2. Cash Flow Controls / Cash Sweep
In case of underperformance, enhanced cash control mechanisms may be activated, including:
- Mandatory allocation of sales proceeds to debt servicing;
- Temporary suspension of discretionary expenditures;
- Priority allocation to interest and principal repayment.

3. Enhanced Reporting
If performance deviates materially from projections, investors may receive:
- Increased reporting frequency;
- Detailed breakdown of sales pipeline and liquidity position;
- Updated financial projections and sensitivity analysis.

4. Cure Periods
Before 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.

These mechanisms are designed to provide bondholders with graduated protections and early-warning responses, while preserving operational flexibility and avoiding unnecessary disruption to the project.