Loan Financing. The Purchaser shall have obtained the Loan Financing pursuant to the Loan Financing Documentation (as amended to the extent permitted by Section 6.03(b)).
Loan Financing. Subject to the prior approval of the Board of Directors, the Joint Venture Company may obtain loans in China or abroad to fund the difference between the total amount of investment and the registered capital. Party A will assist the Joint Venture Company in applying for loans from lenders in China on market terms and conditions, and Party B will assist the Joint Venture Company in applying for loans from lenders outside China on market terms and conditions. If any lender requires a loan guarantee, the Parties shall consult to determine whether and on what terms they are willing to provide such guarantees.
Loan Financing. In the event that Buyer shall obtain financing to pay the Purchase Price, Buyer shall comply with the following terms and conditions:
Loan Financing. Each Shareholder agrees to take all actions required to be taken by such Shareholder as a condition to the funding of the Loan Financing, including execution and delivery of any personal guaranty required under the terms of the Loan Financing Documentation.
Loan Financing. 15.1. If the Board, acting reasonably in the circumstances and subject to the provisions of the Memorandum of Incorporation, decides at any time that borrowings from a bank or other outside sources are not desirable, the Shareholders shall be entitled to provide the required funds, in addition to the Shareholder Loans made by Harmony, Sikhuliso SPV and the BEECos on the Closing Date as set out in clauses 14.1 and 14.2, in proportion to their respective shareholdings at the time or in such other proportions as the Shareholders may agree in writing.
15.2. Should the Shareholders provide the required funds in proportion to their respective shareholdings at the time or in such other proportions as agreed in writing between them (“Proportionate Loan Claims”), in addition to the Shareholder Loans made by Harmony, Sikhuliso SPV and the BEECos on the Closing Date as set out in clauses 14.1 and 14.2, such Proportionate Loan Claims will, unless otherwise agreed in writing –
15.2.1. be unsecured;
15.2.2. bear interest at the Prime Rate;
15.2.3. be advanced simultaneously to the Company;
15.2.4. be subject to the same terms and conditions;
15.2.5. be repayable to the Shareholders simultaneously and proportionately;
15.2.6. be repaid prior to the declaration of any dividends or other distributions to the Shareholders; and
15.2.7. be repaid as and when determined by the Board, provided that the Proportionate Loan Claims will immediately become due and payable and interest will thereafter accrue at the Prime Rate in the event that –
15.2.7.1. the Company is placed in liquidation or under business rescue, whether provisional or final and whether compulsory or voluntary; or
15.2.7.2. the Company enters into a compromise or other similar arrangement with its creditors generally.
15.3. Should any Shareholder elect not to provide its pro rata portion of any funding in terms of this clause 15 to the Company (“Non-compliant Shareholder”) –
15.3.1. Harmony shall be entitled, but not obligated, to call for the financing of the Company by way of share capital, on the terms set out in clause 16, by way of written notice to the Company to that effect as soon as reasonably possible after an election by any Shareholder not to provide its pro rata portion of any funding to the Company. If Harmony makes such an election, the provisions of clause 16 shall apply; and
15.3.2. if Harmony does not make an election as required in clause 15.3.1, any of the other Shareholders shall be entitled,...
Loan Financing. Simultaneously with the execution of this Agreement, the Investors and Molex have agreed to loan the Company $5 million (the "Loan") pursuant to the Subordinated Secured Note Purchase Agreement attached hereto as Exhibit A (the "Note Purchase Agreement").
Loan Financing i. The Administrative Body will seek approval from Missoula City Council and the Board of County Commissioners for any financing benefiting the joint areas of the Property.
ii. If any project or purchase proposed is by one Party, and that project or purchase is recommended to be financed through a loan or other financing mechanism, the Administrative Body will determine which Party will be responsible for repayment of the loan based on the benefit provided by the project/purchase. Assessments levied against the Missoula Local Government Building Special District to make such loan payments will be allocated to the Party responsible for the loan, unless an alternative arrangement is reached by the Administrative Body. The Property cannot be used to secure any such loan; however, this restriction shall not be construed to prevent lease purchase financing.
Loan Financing. An asset management company in Liech- tenstein with foreign investors would like to pursue its asset management activities from Zurich and at the same time achieve optimal tax efficiency. As far as Liechten- xxxxx is concerned, the activities in Zurich constitute a permanent establishment for tax purposes. At the intra-company level, the headquarter company finances this asset management arm with a loan (at 2.0% interest). The company then refi- nances this loan with a group loan (at 1.0% interest). The presentation of the corresponding entries for tax purposes is shown below: Taxation in Switzerland – Swiss real estate is taxed where it is located (situs prin- ciple) regardless of the place of registra- tion (in the country or abroad) of the real estate company that owns it. When real estate is held by a Liechtenstein company, management must actually be located in Liechtenstein as determined in accor- dance with Swiss criteria. In the case of a professional real estate broker or an insur- ance company that is effectively involved in managerial activities in Liechtenstein, compliance with these requirements is not likely to be questioned. Taxation in Liechtenstein – Income from real estate located in other countries is exempt from taxation in Liechtenstein. Assuming no flat fee is paid for manage- ment services, the minimum corporate income tax will be CHF 1,200 per year. This planning variant is especially worth considering in the case of Liechtenstein- based companies that hold sizeable real estate portfolios through a Swiss holding entity since withholding tax would then become a genuine cost factor. It is in prac- xxxx possible to make the transition to a “permanent real estate establishment”, especially since the treatment of restruc- tured real estate complexes is tax-neutral or at least acceptable in most cantons. Assets 3,500 Loan from HQ (2.0%) 3.000 Endowment equity 500 Taxation in Switzerland (not including capital tax) – Interest in the amount of 60 (2.0%) represents a tax-deductible expense that can be offset against income, which in the case of this example is also 60. There is therefore no income tax liability: Interest expense (2.0%) 60 Income from financing activities 60
Loan Financing. The Company, Bloomwell, Concentra and the Guarantors shall agree that the Subscriber shall not be required to provide any guarantee for equipment financing necessary for the business operations of the Group.
Loan Financing. 7 ARTICLE 5
