No employees; VAT group. (i) None of the Borrowers shall have any employees. (ii) None of the Borrowers shall be or become a member of any VAT (value added tax) group.
Appears in 4 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
No employees; VAT group. (i) None of the Borrowers shall have any employeesemployees other than the master, the officers and the crew of the Ship owned by it.
(ii) None of the Borrowers shall be or become a member of any VAT (value added tax) group.
Appears in 2 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Quartet Holdco Ltd.)
No employees; VAT group. (i) None Neither of the Borrowers shall have any employees.
(ii) None Neither of the Borrowers shall be or become a member of any VAT (value added tax) group.
Appears in 2 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Quartet Holdco Ltd.)
No employees; VAT group. (i) None of the Borrowers The Borrower shall not have any employees.
(ii) None of the Borrowers The Borrower shall not be or become a member of any VAT (value added tax) group.
Appears in 2 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
No employees; VAT group. (i) None of the Borrowers Neither Borrower shall have any employees.
(ii) None of the Borrowers Neither Borrower shall be or become a member of any VAT (value added tax) group.
Appears in 1 contract
No employees; VAT group. (i) None of the Borrowers No Borrower shall have any employees.
(ii) None of the Borrowers No Borrower shall be or become a member of any VAT (value added tax) group.
Appears in 1 contract
