(b)

the contractual arrangements on the assets provide lenders with a high degree of protection, including the following features: the lenders have a legally enforceable first-ranking right over the assets financed and, where applicable, over the income that they generate; there are contractual restrictions on the ability of the obligor to make changes to the asset which would have a negative impact on its value; where the asset is under construction, the lenders have a legally enforceable first-ranking right over the assets and the underlying construction contracts;

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.