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Additionally, the above information is a forward-looking statement for the purpose of estimating
the future circumstance which is an opinion of the Fund. Thus, the actual operating result may be
significantly different from such estimation.
8. Risk associated with the operation of the hotel and transfer of the license to operate hotel
business
In seeking the benefit of the Fund, the Fund will lease the Initial Investment Property (Glow Trinity
Silom Building) as the serviced apartment to the tenant. The Fund has policy to change from
serviced apartment to hotel when the license to operate hotel business is issued by the competent
authority, provided that under the Lease Agreement of Land and Glow Trinity Silom Building and
Furniture, Fixtures and Equipment, the Fund will receive the fixed and variable rent from leasing
the Initial Investment Property.
The tenant of Glow Trinity Silom Building has an obligation to procure the license to operate hotel
business and such tenant shall take the following actions:
(a) causing Trinity Assets Co., Ltd. which is in the process of applying for the license to
operate hotel business under the Hotel Act B.E. 2547 (as amended) (the Hotel Act) to
transfer the license to operate hotel business to the tenant of Glow Trinity Silom Building
when the license to operate hotel business is issued by the competent authortity and
such tenant of the Glow Trinity Silom Building shall immediately take the transfer of the
license to operate the hotel business from Trinity Assets Co., Ltd. or
(b) applying for the license to operate hotel business by itself according to the rules and
procedures under the Hotel Act.
In the case where the tenant of Glow Trinity Silom Building is unable to complete any of the above
actions within the date of initial investment of the Fund or within the lease period of Glow Trinity
Silom Building or in the case where the license to operate the hotel business is revoked or is not
renewed under the Hotel Act within three years after the date of initial investment or within the
lease period (in the case of renewal of the lease), it may affect the revenue of the Fund because
the Fund may be unable to operate the Initial Investment Property and may terminate the Lease
Agreement of Land and Glow Trinity Silom Building and Furniture, Fixtures and Equipment. This
factor may adversely affect the business, financial position, operating result and the status of the
Fund.
Information Memorandum of Trinity Property Fund 50