Investment in Subsidiaries. If any Default or Event of Default shall have occurred and is continuing or during any period in which the aggregate principal amount of Senior Debt shall exceed the Borrowing Base then in effect, the Borrower shall not, and shall not permit any of its Subsidiaries which are not Subject Subsidiaries to, incur any Contingent Liabilities for any Indebtedness or other obligations of any Subject Subsidiary, make any loan or advance to, or assume, redeem, purchase, defease, pay or forgive any Indebtedness or other obligation of, or make any equity investment in, or incur any Indebtedness on behalf of, any Subsidiary and the Borrower shall not, and shall not permit any of its Subsidiaries which are not Subject Subsidiaries to, apply any of its funds, property or assets to the purchase, redemption, sinking fund for or other retirement of any shares of any class of capital stock of a Subsidiary or warrants, options or other rights with respect to any shares of any class of such capital stock or any Indebtedness or obligations of any Subsidiary.
Investment in Subsidiaries. 9.1 Details of investment in subsidiaries as presented in separate financial statements are as follows: Company’s name Paid-up capital (In Thousand Baht) Shareholding percentage both directly and indirectly owned Cost (In Thousand Baht) As at June 30, 2022 As at December 31, 2021 As at June 30, 2022 As at December 31, 2021 As at June 30, 2022 As at December 31, 2021 (Percent) (Percent) JKN Global Content Pte. Ltd., USD 6.8 million USD 7.6 million 100 100 223,136 249,093 JKN Channel Company Limited 100,000 100,000 100 100 100,000 100,000 JKN News Company Limited 80,000 80,000 100 100 80,000 80,000 JKN IMC Company Limited 10,000 10,000 100 100 10,000 10,000 JKN MNB Company Limited 34,000 34,000 80.4 80.4 27,000 27,000 JKN Best Life Company Limited 500,000 500,000 100 100 1,049,983 1,049,983 MN Beverage Company Limited 93,000 93,000 60 60 77,360 77,360 Less: Allowance for impairment of investment in subsidiaries (6,000) (6,000) Total 1,561,479 1,587,436
9.2 Changes in investments in subsidiaries
9.2.1 On April 1, 2022, a subsidiary (JKN Best Life Company Limited) entered into an additional contract by adjusting the number of directors in JKN Hi Shopping Company Limited from 2 to 3 and registered additional directors with the Ministry of Commerce on April 30, 2022, making the subsidiary control JKN Hi Shopping Company Limited, so the status has changed from investment in joint ventures to a subsidiary. The value of acquired assets and the liabilities received from the shares of JKN High Shopping Company Limited as at April 30, 2022, which is the closest date to the business acquisition date, consisted of the following transactions: Information as at April 30, 2022. Assets Cash and cash equivalents 7,257 Trade and other receivables 5,522 Inventory 10,577 Value added tax receivable 12,810 Restricted bank deposits 406 Property, plant and equipment 6,510 Right-of-use assets 8,849 Intangible assets 3,219 Deferred tax assets 1,085 Other non-current asset Liabilities Trade and other payables 3,195 91,113 Loan from related party 10,000 Long-term loans from financial institutions 16,170 Withholding tax awaiting for submission 508 Value added tax awaiting for submission 335 Lease liabilities 8,899 Deferred revenue 77 Provision for long-term employee benefits 5,373 Net assets acquired (73,045) Less Non-controlling interest 49% 35,792 Net assets from the purchase (37,253) Goodwill 51,243 Compensation for purchase 13,990 Cash flows for the acquisition - net of cash and cas...
Investment in Subsidiaries. Equity investments in subsidiaries are being closed down and proceeds for the parent company are not ex- pected, for which reason the equity investments are written down to DKK 0. BDO Statsautoriseret revisionsaktieselskab, a Danish limited liability company, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. This document is an unofficial translation of the original Danish text, and in case of any discrepancy between the Danish text and the English translation, the Danish text shall prevail.
Investment in Subsidiaries. The Company is the ultimate controlling party of the following companies, whose results are consolidated in these financial statements: DP Aircraft Guernsey I Limited 56958 Guernsey 10 July 2013 100 DP Aircraft Guernsey II Limited 56959 Guernsey 10 July 2013 100 DP Aircraft Ireland Limited 529455 Ireland 27 June 2013 100
Investment in Subsidiaries. Details of investment in subsidiaries as presented in separate financial statements are as follows:
a) On January 13, 2021, the Company additional invested in an increase share capital of JKN MNB Company Limited, a newly registered company in Thailand. The amount of share invested is 51% of issued share capital.
Investment in Subsidiaries. The Borrower shall not, and shall not -------------------------- permit any of the Subsidiary Guarantors to, directly or indirectly, make any loan or advance to any of their respective Subsidiaries that is not a Subsidiary Guarantor, or purchase or otherwise acquire, any Stock, Stock Equivalents, other equity interest, obligations or other securities of, or any assets constituting the purchase of a business or line of business, or make any capital contribution to, or otherwise invest in, any such Subsidiary that is not a Subsidiary Guarantor; provided that the Borrower may make such investments (a) in ACCA -------- Networks Co., Ltd., in an amount necessary to pay the customary fees, discounts and expenses of a broker unaffiliated with the Borrower in connection with the sale of the Borrower's indirect interest therein, but in any event an amount not to exceed $1,500,000, (b) to the extent resulting from the grant of one or more (i) non-exclusive licenses of rights in intellectual property or (ii) exclusive licenses (which exclude all Persons including the Borrower and all of its Subsidiaries) of rights in intellectual property to non-United States Subsidiaries of the Borrower, such rights only being exercisable with respect to territories outside of the United States and Mexico, and in either case, granted in the ordinary course of business and that do not in any way hinder or restrict the assignability to or assumption by the Lender of the Borrower's interests in the intellectual property that is the subject of any such license and (c) in DishnetDSL Limited in an aggregate amount not to exceed $500,000.
Investment in Subsidiaries. 9.1 Details of investment in subsidiaries as presented in separate financial statements are as follows: Company’s name Paid-up capital (In Thousand Baht) Shareholding percentage both directly and indirectly owned Cost (In Thousand Baht) As at March 31, 2022 As at December 31, 2021 As at March 31, 2022 As at December 31, 2021 As at March 31, 2022 As at December 31, 2021 (Percent) (Percent) JKN Global Content Pte. Ltd., USD 7.6 million USD 7.6 million 100 100 249,093 249,093 JKN Channel Company Limited 100,000 100,000 100 100 100,000 100,000 JKN News Company Limited 80,000 80,000 100 100 80,000 80,000 JKN IMC Company Limited 10,000 10,000 100 100 10,000 10,000 JKN MNB Company Limited 34,000 34,000 80.4 80.4 27,000 27,000 JKN Best Life Company Limited 500,000 500,000 100 100 1,049,983 1,049,983 MN Beverage Company Limited 93,000 93,000 60 60 77,360 77,360 Less: Allowance for impairment of investment in subsidiaries (6,000) (6,000) Total 1,587,436 1,587,436
9.2 GOODWILL Movement of goodwill for the three-month period ended March 31, 2022 and 2021 are present below. Consolidated Financial Statements 2022 2021 Goodwill 665,960 - Add: Increased during the period - 665,960 Less: Impairment - - Goodwill - net 665,960 665,960
Investment in Subsidiaries. (a) Schedule 3.4 sets forth the name of each corporation, partnership, limited liability, joint venture or other entity, in which the Company directly or indirectly has (or has the right the acquire) any ownership interest. With the exception of the entities in which the Company only holds a minority interest, as designated on such schedule, each such entity is referred to as a "Subsidiary" for purposes of this Agreement.
(b) Each Subsidiary is duly organized, validly existing and in good standing under the laws of the state in which it is organized and has all requisite power and authority to own its properties and assets and to conduct its businesses as now conducted. Each Subsidiary is duly qualified to do business and is in good standing in every state where the character of the properties owned or leased by it or the nature of the business conducted by it makes such qualification necessary. Copies of the articles of incorporation and bylaws; articles of organization, regulations and member agreements and partnership certificates and partnership agreements (as the case may be) of each Subsidiary, with all amendments thereto to the date hereof, have been made available (for inspection and review) by the Company to the Investor or its representatives, and such copies are accurate and complete. Other than with respect to St. Rose of Texas, Inc. and St. Rose of Miami, Inc., the minute books (containing the records of meetings of the shareholders, members, partners, the board of directors, board of managers and any committees designated by such boards), the stock registers and the stock, member or partner registers and record books of each Subsidiary have been made available (for inspection and review) to Investor or its representatives and are correct and complete in all material respects. The minute books for St. Rose of Texas, Inc. and St. Rose of Miami, Inc. have not been furnished to the Investor due to the Company's inability to locate them but they do not contain any information that would affect the accuracy or completeness of the representations made by the Company in this Agreement or any information that would be material to the Investor's decision to make the investment contemplated herein.
Investment in Subsidiaries. Separate financial statements Paid-up share capital (Baht) Holding portion (%) Equity method (Baht) Cost method (Baht) Companies 2020 2019 2020 2019 2020 2019 2020 2019
1. Chaiyapum Ram Hospital Co., Ltd. 558,000,000 558,000,000 78.04 78.04 120,315,550 134,729,790 435,490,000 435,490,000 2. R-Plus Asset Co., Ltd. 256,250,000 1,025,000,000 50.00 50.00 52,649,843 428,110,791 128,124,905 512,499,890 3. Muang Loei - Ram Hospital Co., Ltd. 207,367,500 414,735,000 77.67 77.67 239,753,332 237,271,653 282,241,000 282,241,000 4. Vientiane Ram International Hospital Co., Ltd. 286,000,000 100,000,000 70.00 70.00 66,864,763 69,475,348 70,000,000 70,000,000 5. Vibharam Hospital Co., Ltd. 2,000,000,000 - 50.00 - 3,029,772,104 - 2,628,650,901 - Total 3,509,355,592 869,587,582 3,544,506,806 1,300,230,890 Chaiyapum Ram Hospital Co., Ltd. - - (237,253,000) (223,100,000) R-Plus Asset Co., Ltd. - - (84,000,000) (84,000,000) Total investment in subsidiaries 3,509,355,592 869,587,582 3,223,253,806 993,130,890 Dividend from subsidiaries companies for the year ended December 31, 2020 and 2019 were as follows:
1. Chaiyapum Ram Hospital Co., Ltd. Hospital Shareholders/co-directors - -
2. R-Plus Asset Co., Ltd. Hospital Shareholders/co-directors - 333,124,987 3. Muang Loei-Ram Hospital Co., Ltd. Hospital Shareholders/co-directors - -
4. Vientiane Ram International Hospital Co., Ltd. Hospital Shareholders/co-directors - - 5. Vibharam Hospital Co., Ltd. Hospital Shareholders/co-directors 200,000,000 - 200,000,000 333,124,987 The subsidiaries that have material non-controlling interests The Company has consolidated the subsidiaries that have material non-controlling interest: Baht Proportion of ownership interests and voting rights held by non- controlling interests (%) Profit (loss) allocated to non- controlling interests Accumulated non-controlling interests Name of Company 2020 2019 2020 2019 2020 2019 1. Chaiyapum Ram Hospital Co., Ltd. 21.96 21.96 (3,991,426) (2,566,007) 33,727,953 37,784,036 2. R-Plus Asset Co., Ltd 50.00 50.00 8,914,067 (119,018,248) 52,649,843 428,110,791 3. Muang Loei-Ram Hospital Co., Ltd. 22.33 22.33 1,962,539 807,328 61,313,972 60,600,494 4. Vientiane Ram International Hospital Co., Ltd. 30.00 30.00 (1,118,822) (224,851) 214,656,327 29,775,149 5. Vibharam Hospital Co., Ltd. 50.00 - (168,414,004) - 3,805,705,203 - Total (162,647,646) (121,001,778) 4,168,053,298 556,270,470 Summarized financial information in respect of the subsidiaries, represents amounts be...
Investment in Subsidiaries. 134,598 113,232 Other assets ....................................... 1,821 600 ---------------------- Total assets ................................... $ 152,578 $ 133,715 ====================== Liabilities: Other liabilities .................................. $ 573 $ 328 Borrowings ......................................... 20
