One - Lippo Malls Indonesia Retail Trust - Investor Relations

88Lippo-Mapletree Indonesia Retail Trust Annual Report 2009Notes to the Financial Statements (Cont’d)31 December 200922. OTHER FINANCIAL LIABILITIES (Cont’d)22A. Bank Loan (Secured) (Cont’d)LMIR Trust has covenants for the above loan facility which require LMIR Trust:(i)(ii)To procure that none of its subsidiaries will create or have any outstanding security over the retail malls and spaces, theshares and the charged assets (collectively “Relevant Assets”).Shall not without prior consent in writing from the lender:(a)(b)(c)(d)Sell, transfer or dispose any of the Relevant Assets on terms whereby they are leased or re-acquired by any othermembers of the Group;Sell, transfer or dispose any of its receivables in relation to the Relevant Assets on recourse terms;Enter into any arrangement in relation to the Relevant Assets, under which money or the benefi t of a bank orother account may be applied, set off or made subject to a combination of accounts;Enter into any preferential arrangement in relation to the Relevant Assets having a similar effect;in circumstances where the arrangement or transaction is entered into primarily as a method of raising fi nancialindebtedness or of fi nancing the acquisition of an asset.The bank loan is also secured with the share certifi cates of some subsidiaries pledged to the lender.22B. Finance LeaseMinimum Finance PresentGroup payments charges value$’000 $’000 $’0002009:Minimum lease payments payable:Due within one year 3 (1) 2Due within 2 to 5 years 44 (1) 43Due after 5 years 1,005 (34) 971Total 1,052 (36) 1,0162008:Minimum lease payments payable:Due within one year 27 (1) 26Due within 2 to 5 years 7 (1) 6Due after 5 years 902 (29) 873Total 936 (31) 905Finance lease represents Build, Operate and Transfer (BOT) fees payable. PT Cibubur Utama (“Cibubur”) entered into aBOT agreement with Perusahaan Daerah Pembangunan Sarana Jaya DKI Jakarta (“Sarana”). PT Cibubur has the rightto build, operate and transfer the property for a period of 20 years commencing July 2005 and the fi rst priority to extendthe agreement.