INFORMATION RELATING TO THE PROPOSED DISPOSAL Sample Clauses

INFORMATION RELATING TO THE PROPOSED DISPOSAL. 2.1 Information on the CRSB Group CRSB is a private company and is incorporated in Malaysia. CRSB is an investment holding company with shareholding interests in various subsidiaries which are mainly in the restaurant business. CRSB is a wholly owned subsidiary of the Company. CRSB and its subsidiaries are the main operating subsidiaries of the Company and are currently undergoing a restructuring scheme under Section 366 and 368 of the Companies Act 2016 of Malaysia (“Restructuring Scheme”), as to which proceedings have commenced and orders are made by the High Court of Malaysia (“Court Orders”). Pursuant to the Court Orders dated 17 November 2017, 20 February 2018 and 4 July 2018, CRSB has inter-alia been granted the approval to call for a creditors’ meeting for the purpose of taking into account and if deemed appropriate, to approve with or without modifications, a proposed scheme of arrangement and compromise between CRSB and the respective financial institutions involved. In addition, the Court Orders have inter-alia restrained all proceedings against the said applicants of the order named therein (being essentially the CRSB Group), including but not limited to the enforcement of any securities, proceedings to wind up the applicants and/or appointment of any receiver and/or manager over the applicants’ assets by the scheme creditors, except with the leave of Court and subject to the terms on which the Court shall decide. Pursuant to the latest Court Order dated 4 July 2018, the aforementioned restraining order has been extended for a period of 5 months from 15 June 2018 (being the date of expiry of the second restraining order dated 20 February 2018) till 15 November 2018. Please refer to the announcements dated 20 November 2017, 20 February 2018 and 4 July 2018. The CRSB Group recorded net loss after tax of approximately RM66.2 million and RM4.6 million for the financial year ended 31 December 2017 (“FY2017”) and for the six months period ended 30 June 2018 (“HY2018”) respectively. The net asset value and net tangible asset of the CRSB Group as at 31 December 2017 are approximately negative RM58.9 million and RM59.1 million respectively. The net asset value and net tangible asset of the CRSB Group as at 30 June 2018 are approximately negative RM63.1 million and RM63.3 million respectively. The total outstanding loans under the CRSB Group as at 30 June 2018 are as follows: Loans Outstanding amount as at 30 June 2018 (RM’000) Details of collateral/secur...
AutoNDA by SimpleDocs

Related to INFORMATION RELATING TO THE PROPOSED DISPOSAL

  • Obligations relating to Change in Ownership 5.3.1 The Concessionaire shall not undertake or permit any Change in Ownership, except with the prior approval of the Authority.

  • Agreements Relating to Sentencing 10. The government agrees to recommend that the Court impose a sentence of imprisonment within the applicable guidelines range and to make no further recommendation concerning what sentence of imprisonment should be imposed.

  • Other Provisions Relating to the Grievance Procedure 1. No reprisal of any kind shall be taken by or against any participant in the grievance procedure by reason of such participation.

  • Reportable Events Involving the Xxxxx Law Notwithstanding the reporting requirements outlined above, any Reportable Event that involves solely a probable violation of section 1877 of the Social Security Act, 42 U.S.C. §1395nn (the Xxxxx Law) should be submitted by Practitioner to CMS through the self-referral disclosure protocol (SRDP), with a copy to the OIG. If Practitioner identifies a probable violation of the Xxxxx Law and repays the applicable Overpayment directly to the CMS contractor, then Practitioner is not required by this Section III.G to submit the Reportable Event to CMS through the SRDP.

  • Deadlines for Providing Insurance Documents after Renewal or Upon Request As set forth herein, certain insurance documents must be provided to the OGS Procurement Services contact identified in the Contract Award Notice after renewal or upon request. This requirement means that the Contractor shall provide the applicable insurance document to OGS as soon as possible but in no event later than the following time periods:  For certificates of insurance: 5 business days  For information on self-insurance or self-retention programs: 15 calendar days  For other requested documentation evidencing coverage: 15 calendar days  For additional insured and waiver of subrogation endorsements: 30 calendar days Notwithstanding the foregoing, if the Contractor shall have promptly requested the insurance documents from its broker or insurer and shall have thereafter diligently taken all steps necessary to obtain such documents from its insurer and submit them to OGS, OGS shall extend the time period for a reasonable period under the circumstances, but in no event shall the extension exceed 30 calendar days.

  • INDEMNIFICATION RELATING TO THIRD PARTY RIGHTS The Contractor will also indemnify and hold the Authorized Users harmless from and against any and all damages, expenses (including reasonable attorneys' fees), claims, judgments, liabilities and costs that may be finally assessed against the Authorized Users in any action for infringement of a United States Letter Patent, or of any copyright, trademark, trade secret or other third party proprietary right except to the extent such claims arise from the Authorized Users gross negligence or willful misconduct, provided that the State shall give Contractor: (i) prompt written notice of any action, claim or threat of infringement suit, or other suit, (ii) the opportunity to take over, settle or defend such action, claim or suit at Contractor's sole expense, and (iii) assistance in the defense of any such action at the expense of Contractor. If usage shall be enjoined for any reason or if Contractor believes that it may be enjoined, Contractor shall have the right, at its own expense and sole discretion to take action in the following order of precedence: (i) to procure for the Authorized User the right to continue Usage (ii) to modify the service or Product so that Usage becomes non-infringing, and is of at least equal quality and performance; or (iii) to replace said service or Product or part(s) thereof, as applicable, with non-infringing service or Product of at least equal quality and performance. If the above remedies are not available, the parties shall terminate the Contract, in whole or in part as necessary and applicable, provided the Authorized User is given a refund for any amounts paid for the period during which Usage was not feasible. The foregoing provisions as to protection from third party rights shall not apply to any infringement occasioned by modification by the Authorized User of any Product without Contractor’s approval. In the event that an action at law or in equity is commenced against the Authorized User arising out of a claim that the Authorized User's use of the service or Product under the Contract infringes any patent, copyright or proprietary right, and Contractor is of the opinion that the allegations in such action in whole or in part are not covered by the indemnification and defense provisions set forth in the Contract, Contractor shall immediately notify the Authorized User and the Office of the Attorney General in writing and shall specify to what extent Contractor believes it is obligated to defend and indemnify under the terms and conditions of the Contract. Contractor shall in such event protect the interests of the Authorized User and secure a continuance to permit the Authorized User to appear and defend its interests in cooperation with Contractor, as is appropriate, including any jurisdictional defenses the Authorized User may have. This constitutes the Authorized User’s sole and exclusive remedy for patent infringement, or for infringement of any other third party proprietary right.

  • FEES AND EXPENSES RELATING TO SERVICES 15.1 In consideration of the provision of the Services, Transnet will pay to the Service Provider the Fees detailed in the relevant schedule or Work Order.

  • Files Management and Record Retention relating to Grantee and Administration of this Agreement a. The Grantee shall maintain books, records, and documents in accordance with generally accepted accounting procedures and practices which sufficiently and properly reflect all expenditures of funds provided by Florida Housing under this Agreement.

  • File Management and Record Retention relating to CRF Eligible Persons or Households Grantee must maintain a separate file for every applicant, Eligible Person, or Household, regardless of whether the request was approved or denied.

  • Response/Compliance with Audit or Inspection Findings A. Grantee must act to ensure its and its Subcontractors’ compliance with all corrections necessary to address any finding of noncompliance with any law, regulation, audit requirement, or generally accepted accounting principle, or any other deficiency identified in any audit, review, or inspection of the Contract and the services and Deliverables provided. Any such correction will be at Grantee’s or its Subcontractor's sole expense. Whether Xxxxxxx's action corrects the noncompliance shall be solely the decision of the System Agency.

Time is Money Join Law Insider Premium to draft better contracts faster.