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What would happen if the LTV covenant were to be breached?

breached Covenant LTV
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What would happen if the LTV covenant were to be breached?

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Under usual circumstances, discussions will be initiated with the banks to waive the covenants. In return for the waiver, lending banks may require the Lender to pay a fee, repay a portion of the outstanding loan or levy a higher interest rate for the loan.

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