FINANCE FOR MERANTUN DEVELOPMENT LTD AND LAND Sample Clauses

FINANCE FOR MERANTUN DEVELOPMENT LTD AND LAND. 6.1 The parties shall procure that MERANTUN DEVELOPMENT LTD arranges a loan facility for its initial working capital (Facility) from the Council (or such bank or financial institution as the Board shall select if it offers more favourable terms (Bank)). The amount of the Facility shall be £13,022,000.00 (thirteen million twenty two thousand pounds) and shall be on the terms set out in the Finance Agreement.
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