1. The loan originating Qualifying Investor AIF shall establish and implement appropriate, documented and regularly updated procedures, policies and processes for each of the following:

• Risk appetite statement;

• The assessment, pricing and granting of credit (including criteria, governance and decision making, committee structures);

• Credit monitoring, renewal and refinancing (including criteria, governance and decision making committee structures);

• Collateral management policy;

• Concentration risk management policy;

• Valuation, including collateral valuation and impairment;

• Credit monitoring;

• Identification of problem debt management;

• Forbearance;

• Delegated authority;

• Documentation and security.

2. The loan originating Qualifying Investor AIF shall ensure that:

(a) credit-granting is based on sound and well-defined criteria and that the process for approving, amending, renewing and re-financing credits is clearly established;