(a) A Fund Manager of an Islamic REIT may obtain financing either directly or through its Special Purpose Vehicle up to 65% of the total gross asset value of the Fund provided that such financing is provided in a Shari'a-compliant manner.
(b) Upon becoming aware that the borrowing limit set out in 6.8.5(a) has been exceeded, the Fund Manager shall:
(c) immediately inform Unitholders and the Regulator of the details of the breach and the proposed remedial action;
(d) use its best endeavours to reduce the excess borrowings;
(e) not permit the Fund to engage in additional borrowing; and
(f) inform Unitholders and the Regulator on a regular basis as to the progress of the remedial action.