Where a pandemic negatively impacts a borrower’s ability to meet contractual obligations, the borrower and the financial institution will be required to re-negotiate and agree on repayment modalities. In addition, except as otherwise allowed, a party may not commence execution or enforce a security or terminate a lease over immovable property due to non-payment of rent. Lastly, where a pandemic has affected the financial capacity of a tenant to meet their obligations, parties may agree on how the tenant shall meet their obligation at the end of the pandemic.

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