Performance Undertakings. The Company undertakes to the Purchaser that its audited consolidated annual losses (“Actual Loss”) shall be no more than RMB150 million in 2019 and no more than RMB50 million in 2020. The Actual Loss shall exclude: (i) the losses generated by non-operating activities, IPO and financing-related expenses as well as financial expenses such as interest expenses and exchange rate changes, (ii) the losses generated by accounting treatments of ESOP, the Preferred Shares, etc., and (iii) the losses of any entities invested by the Company, the financial report of which are not consolidated into the financial report of the Group Companies, or such entities in which the Company holds minority interests.
Performance Undertakings. Sellers have provided or made available to Buyer true, correct and complete copies of all Performance Undertakings, including all express written amendments thereto. To the knowledge of Sellers, each Performance Undertaking is in full force and effect and has not been repudiated by the Republic of the Philippines. To the knowledge of Sellers, the Republic of the Philippines is not in breach of the terms of any such Performance Undertaking, and, to the knowledge of Sellers, no event or circumstance has occurred that, with notice or lapse of time or both, would constitute a breach thereof.
Performance Undertakings. If Banco de Chile fails when providing custody services, Citigroup will pay to the client the costs of such failure, and will then charge the same to Banco de Chile. A contractual amendment will be introduced in the relation to each client, through which this will contract the services of Citibank, N.A. in New York, which in turn will subcontract Banco de Chile, so they may continue with the guarantees without any capital charge or other accounting effects. Citigroup will charge a margin for the services, which initially shall be equivalent to 5% of gross income generated. Solvency Undertaking: In order to cover the risk over balances in banking accounts of those clients that have any custody with Banco de Chile and which have a solvency undertaking for mandates executed through Citigroup’s subsidiaries, Banco de Chile shall issue a letter of credit with the specific guarantee. Each year the Parties shall negotiate in good faith the rate to be charged for such letter of credit, which shall be agreed before December 1 of each year.
Performance Undertakings. The Performance Undertaking Period shall be three years from completion of the Acquisition,and the Project Company, the Founder and the Management Team undertake and warrant to attain the following results after deduction of shared expenses (shared expenses means bearing the operating costs of the operation function departments of the Target Company that the Group Companies assist the Target Company in, including: operation and maintenance expenses for marketing, promotion, human resources, administration, legal, finance, IT, and other departments):
Performance Undertakings. The Servicers shall, in accordance with the Services Standard, (A) cause each of the Company and each Aircraft Subsidiary to (1) enforce or secure the performance of the terms of the Leases as provided in Section 7.12(b) of the Warehouse Agreement and (2) comply with its obligations and covenants under the Loan Documents and Lease Documents to which the Company or such Aircraft Subsidiary is or will become a party solely to the extent that such obligations and covenants specifically relate to the status, insurance, maintenance or operation of any Aircraft, payment of Rent, Deposits, Maintenance Reserves or other payments under any Lease and delivery of all reports and other information with respect to any Aircraft or any Lessee and (B) administer loans made between the Borrower and any Aircraft Subsidiary or between any Aircraft Subsidiary and any other Aircraft Subsidiary.
