Shareholders’ Loan. Pursuant to the terms of the JVA, each of SHSPL, Evia, HL and CNH will undertake to provide shareholders’ loan of an aggregate amount of S$50,000,000 to SEPL in the Shareholding Proportion. SHSPL will be required to advance a loan S$15,000,000 to SEPL based on this undertaking (“SHSPL Loan”).
Shareholders’ Loan. Subject to Clause 7, MSB shall make or procure its Affiliates to make shareholder’s loans to the Company to settle all the Professional Fees (estimated approximately US$2,000,000.00) in connection with the Listing Project when they respectively become due, including issuance and distribution of the securities in relation to the Listing (collectively, the “Shareholder’s Loan”).
Shareholders’ Loan. The Shareholder's Loan shall have been repaid.
Shareholders’ Loan. The Subscriber shall make available an aggregate amount of HK$17,000,000 as Shareholder’s Loan to the Target Company for financing its operating costs for the JV Business within two (2) years from the completion of the Subscription. The Shareholder’s Loan shall be provided to the Target Company by the Subscriber at various stages as determined and resolved from time to time by the board of directors of the Target Company, on a needed-basis in connection with the approved projects and/or engagements of the Target Company as commercially required. The purpose of the Shareholder’s Loan is strictly for the business operations for the JV Business, including but not limited to the incorporation expenses of the Target Company, capital and operating expenditure relating to the normal course of the JV Business. The Shareholder’s Loan shall be unsecured, interest-free and repayable upon demand. If the Shareholder’s Loan is fully utilized, any further shareholder’s loan required (the “Further Shareholder’s Loan”) for financing the operating costs of the Target Company shall be discussed, determined and resolved by the shareholders at general meetings of the Target Company. There shall be no obligation whatsoever for the Subscriber to provide any Further Shareholder’s Loan. The shareholders of the Target Company agree and confirm that, in the event the Subscriber agrees to provide Further Shareholder’s Loan to the Target Company, there shall be no obligation whatsoever for Xxxxx Productions to also provide Further Shareholder’s Loan, pro-rated or otherwise, and vice versa. For the avoidance of doubt, unless otherwise agreed by all shareholders of the Target Company in writing, no shareholder’s loan (including but not limited to the Shareholder’s Loan or any Further Shareholder’s Loan) may be capitalised into new shares of the Target Company. When the Target Company records any net profits (after tax) of any financial year (“Net Profits”) and when there is enough cash balance for operating costs for the next financial year (the amount for such cash balance shall be determined and agreed by the board of directors of the Target Company), not more than 40% of such Net Profits (the exact amount to be determined and agreed by the board of directors of the Target Company) shall first be utilized for repaying the Shareholder’s Loan and the balance, if any, shall be applied to repay any Further Shareholder’s Loan to its shareholders on a pro-rata basis. The remaining portion o...
Shareholders’ Loan. Pending Completion, Mx. Xxxxx X. Müller and Flagship shall deliver a declaration, duly executed by each of them, stating that the Shareholders’ Loan has been paid in full and acknowledging that they have no claim against the Companies for any reason whatsoever.
Shareholders’ Loan. Within 5 Business Days from Sale Shares Completion, Morefit shall pay to SBA the Second Instalment whereupon the Loan Transfer Completion shall take place when simultaneously Morefit and SBA shall execute and deliver to each of SK Companies notice of the assignment and transfer of the Shareholder’s Loan. GDI Group is principally engaged in utilities, infrastructure, property investment and hotels. GDB Group is engaged in the production, distribution and sale of beers mainly in the PRC. In view of the increasing demand of beer in the PRC, the respective directors of GDI and GDB (including their respective independent non-executive directors) consider it beneficial to both GDI and GDB to increase GDB’s investment in the brewery industry in the PRC by increasing GDB’s interest and thereby profit sharing in SK Companies. Immediately following the Sale Shares Completion, GDB’s interest in each of SK Companies shall be increased from approximately 87 per cent. to approximately 97 per cent, and GDI’s interest therein will thus be increased from approximately 62.62 per cent. to approximately 69.82 per cent. SK Companies suffered a net loss of RMB47,771,000 (equivalent to approximately HK$45,012,000) for the financial year of 2000 and had a net profit before and after taxation of RMB4,348,000 (equivalent to approximately HK$4,097,000) for the financial year of 2001. SK Companies were not required to make any tax payment for the financial year of 2001 as they were able to take advantage of the accumulated loss of the previous years. The respective directors of GDI and GDB (including their respective independent non-executive directors) consider that the Transaction is in the ordinary business of both GDI and GDB, and that the terms of the Agreement have been negotiated on an arm’s length basis and are normal commercial terms which are fair and reasonable so far as the respective shareholders of GDI and GDB are concerned. SBA, being a substantial shareholder of each of SK Companies, is a connected person of each of GDI and GDB under the Listing Rules. Accordingly, the Transaction constitutes a connected transaction of each of GDI and GDB under the Listing Rules. The latest published consolidated net tangible assets of GDB Group as at 30 June 2002 amounted to approximately HK$1,140,203,000. The Consideration therefore represents 6.2 per cent. of the latest published consolidated net tangible assets of GDB Group. Accordingly, the Agreement is subject to the approval of...
Shareholders’ Loan. 8.1 In consideration of the Purchaser granting the Debenture and undertaking to procure the repayment by the Company of the Shareholders' Loan on the terms set out in agreement dated 14th April 2000 a copy of which is set out in Appendix 1 the Lenders undertake to the Purchaser that they shall not seek repayment of the Shareholders' Loan except as provided in the said agreement.
8.2 As provided in the agreement set out in Appendix 1 the balance of the Shareholders' Loan outstanding shall bear interest at a rate of 3 per cent per annum above the base rate of HSBC Bank PLC from time to time, which interest shall be payable monthly in arrears to the parties stated in Part 3 of Schedule 1 in proportion to their interest in the Shareholders' Loan.
8.3 In the event that any payment due pursuant to clause 8.1 is not made on the due date the amount of such payment due shall bear interest from the date due until the date of actual payment at the rate of 5 per cent per annum above the base rate of HSBC Bank PLC from time to time.
Shareholders’ Loan. (a) Where any Co-Borrower obtains any loans from its shareholder, the original of Subordination Undertaking in the form of Appendix 13 hereto issued by such shareholder.
(b) This provision does not apply to the following:
(i) up to Two Billion US Dollars (US$2,000,000,000) intercompany loan for MST's payment of Share Swap consideration for the completion of Share Swap to Inotera's existing shareholders, Micron B.V. and Numonyx Holdings B.V.;
(ii) short term intercompany loan which is for Co-Borrowers' daily operation or fund procurement; and
(iii) intercompany loan which is for any Co-Borrowers' capital expenditure, if there is no Event of Default.
Shareholders’ Loan. 7.1 Up to 31 January 1999, the date to which the feasibility study for the Morila gold project was drawn up, RRL incurred a total amount of US $4 750 000 (four million seven hundred and fifty thousand United States Dollars) on direct exploration and feasibility study costs on the Morila gold project.
7.2 In addition to the direct expenditure set out in 7.1 above RRL incurred a total amount of US $5 735 000 (five million seven hundred and thirty five thousand United States Dollars) in indirect exploration and feasibility study costs and in pre-development work at the Morila gold project site up to 30 June 1999.
7.3 The total amount of expenditure as set out in 7.1 and 7.2 above prior to the commencement of the construction of the mine and associated facilities at the Morila gold project was US $ 10 485 000 (ten million four hundred and eighty five thousand United States Dollars).
Shareholders’ Loan. The Buyer shall make a one-off repayment of the Shareholder’s Loan and the Interest to the Seller within five (5) working days from the Effective Date. Pursuant to the MOU and the Framework Agreement, the Buyer paid the Deposit in the amount of RMB5,000,000 (approximately HK$5,700,000) and RMB15,000,000 (approximately HK$17,100,000) to the Seller on 26 August 2009 and 16 November 2009, respectively. The Deposit and the interest in the amount of RMB3,245 (approximately HK$3,699), calculated at the rate which is the same as the rate applicable to the Interest, accrued thereon from 6 January 2010 until the Effective Date shall be used to offset against part of the Shareholder’s Loan and the Interest, respectively. On 7 January 2010, City Construction repaid the balance of the Shareholder’s Loan in the amount of RMB187,744,110 (approximately HK$214,028,285) and the balance of the Interest in the amount of RMB25,713,705 (approximately HK$29,313,623) on behalf of the Buyer, resulting in the Buyer owing an aggregate amount of RMB213,457,815 (approximately HK$243,341,909) to City Construction. Such amount owed by the Buyer to City Construction is not interest-bearing. The completion of the Acquisition is conditional and shall take place upon the fulfillment of the following conditions:
