nlg insolvency equals default on hlgs debt

Anyone else noticed that an insolvency of NLG will result in a default by HLG on its loans (see PDS page 76)

"Events of Default Events of default include but are not limited to:
a) Failure to pay an amount payable under a Finance
Document;
b) Breach of certain leverage and interest coverage covenants;
c) Excessive rental arrears; and
d) Occurrence of an insolvency event in respect of an Obligor
or a major tenant."

The consequence of this appears to be that HLG pays 2% extra interest, can't find anywhere whether the loan becomes immediately repayable.

I believe that HLG represents good value, but remain quite concerned about its exposure to NLG's woes.