THE FACILITY AGREEMENT. Each of the Securing Party and the Authorised Agent acknowledges that it has been provided with a copy of the Facility Agreement and other necessary information in so far as such information relates to or is required for the performance of its obligations hereunder.
THE FACILITY AGREEMENT. Under the Facility Agreement, the lender has agreed to provide the Company with a HK$600 million term loan facility for a period of 36 months from the first day of utilization of the facility. To the best of the Directors’ knowledge, information and belief having made all reasonable enquiries, the lender and its ultimate beneficial owners are third parties independent of the Company and the connected persons (as defined in the Listing Rules) of the Company.
THE FACILITY AGREEMENT. The Parent Company hereby acknowledges receipt of a copy of the Facility Agreement and confirms that it is familiar with and has approved of the terms and conditions of the Facility Agreement.
THE FACILITY AGREEMENT. Any agreement by any Lender or the Administrative Agent to extend the Forbearance Period, or enter into any other waiver, forbearance or amendment, must be set forth in writing and signed by a duly authorized signatory of each of the Administrative Agent and the requisite Lenders if required by Section 13.12
THE FACILITY AGREEMENT. The Board is pleased to announced that, on 4 December 2020 (after trading hours), the Company (as borrower) and BOC Macau (as lender and as agent) entered into the Facility Agreement and the relevant loan documents, pursuant to which BOC Macau agreed to provide the Company a term loan facility up to US$44,800,000, the period of the Loan will be 5 years from the date of the Facility Agreement. Proceeds from the Loan will be used for, among others, acquisition and general working capital of the Group. Pursuant to the Facility Agreement, Xx. Xx Xxxxxxx, the chairman of the Board, an executive director, being the ultimate controlling shareholder of the Company, is required to maintain directly or indirectly not less than 51% of the issued share capital of the Company. As at the date of this announcement, Xx. Xx Xxxxxxx, the chairman of the Board, an executive Director and the ultimate controlling shareholder of the Company, is interested in 71.13% of the total issued share capital of the Company. If Xx. Xx Xxxxxxx no longer owns directly or indirectly no less than 51% of the issued share capital of the Company, the Company shall promptly notify BOC Macau, BOC Macau shall not be obliged to fund the utilization of the Loan, and BOC Macau may, by not less than 10 business days’ notice to the Company, cancel its commitment whereupon the outstanding Loan, together with accrued interest, and all other amounts accrued will become immediately due and payable. This announcement is made in compliance with the disclosure requirement under Rule 13.18 of the Listing Rules. In accordance with the requirements pursuant to Rule 13.21 of the Listing Rules, disclosure will be included in the subsequent interim and annual reports of the Company for so long as the said requirement that Xx. Xx Xxxxxxx owns directly or indirectly no less than 51% of the issued share capital of the Company under the Facility Agreement continues to exist.
THE FACILITY AGREEMENT. On 16 August 2005, Bright Leading, an indirect wholly-owned subsidiary of the Company, and Hunan Xiangya, an associated company of the Company, entered into the Facility Agreement, pursuant to which, Bright Leading will provide an unsecured credit line of HK$8,500,000 to Hunan Xiangya to set up a production line of cough syrup in Hunan Xiangya for the expansion of production of Madame Xxxxx’s products in the PRC. The transaction contemplated under the Facility Agreement constitutes a discloseable transaction of the Company under Chapter 14 of the Listing Rules. The transaction contemplated under the Facility Agreement constitutes a discloseable transaction of the Company under Chapter 14 of the Listing Rules. A circular in connection with the Facility will be despatched to the Shareholders as soon as practicable. The Facility of a principal amount of HK$8,500,000, and the previous facilities of a total principal amount of approximately HK$8,200,000 (details of which are set out below), due to Bright Leading from Hunan Xiangya which are used for setting up a production line of cough syrup in Hunan Xiangya for the expansion of production of Madame Pearl’s products in PRC and the general working capital of Hunan Xiangya respectively, in aggregate amount to HK$16,700,000. Under Rule 13.13, and 13.15 of the Listing Rules, a general disclosure obligation in respect of the advance to Hunan Xiangya by the Group arises. The financial assistance given to, and guarantees given for facilities granted to, affiliated companies by the Group as at 31 March 2005 together with the Facility in aggregate amount to approximately HK$17,850,000 and details of such are disclosed below for the purpose of Rule 13.16 of the Listing Rules.
THE FACILITY AGREEMENT. Date : 16 August 2005 Lender : Bright Leading Limited, an indirect wholly-owned subsidiary of the Company Borrower : Hunan Xiangya Pharmaceutical Co., Limited, an associated company of the Company Facility : an unsecured credit line of HK$8,500,000 PRC and the general working capital of Xxxxx Xxxxxxx respectively, in aggregate amount to HK$16,700,000. Under Rule 13.13 and 13.15 of the Listing Rules, a general disclosure obligation in respect of the advance to Hunan Xiangya by the Group arises. The financial assistance given to, and guarantees given for facilities granted to, affiliated companies by the Group as at 31 May 2005 together with the Facility in aggregate amount to approximately HK$17,850,000 and details of such are disclosed below for the purpose of Rule 13.16 of the Listing Rules. Purpose of the Facility : to set up a production line of cough syrup in Hunan Xiangya for the expansion of production of Xxxxxx Xxxxx’s products in the PRC Interest : 6.5% per annum on the drawdown amount under the Facility, which is determined after arm’s length negotiation between the Bright Leading and Xxxxx Xxxxxxx, with reference to the previous prime rate immediately before 11 August 2005 as quoted by The Hongkong and Shanghai Banking Corporation Limited Facility period : 10 years, from 16 August 2005 to 15 August 2015 Winning Forever Limited 50% 250 — 250 repayable by demand Pursuant to the Facility Agreement, the unsecured credit line of HK$8,500,000 can be drawn anytime by Xxxxx Xxxxxxx producing a resolution of the board of directors of Xxxxx Xxxxxxx authorizing the Fortune Way Trading Limited 50% 600 — 600 repayable by demand drawdown. Any amount drawn must be in a multiple of HK$50,000 and repayable together with accrued interest on or before the Facility period. The Facility will be financed by the internal resources of the Group. (iii) 3rd facility 250 4.5 261 28/2/2008 Hunan Xiangya, which is 39.2% owned by the Company and 25.6%, 1.6%, (iv) the Facility 8,500 6.5 — 16/8/2015 33.6% respectively owned by Xx Xxxx Xxx, Happy Grand Investments Subtotal 16,700 9,808 Hunan Xiangya 39.2%
THE FACILITY AGREEMENT. The obligation on the part of the Lender to make further advances to the Borrower under the Facility Agreement shall be deemed to be incorporated in this Deed for the purposes of section 94(1)(c) Law of Property Xxx 0000.
4.1 Set-off Each Company hereby agrees that the Lender may at any time with notice, notwithstanding any settlement of account or other matter whatsoever, combine or consolidate all or any of its then existing accounts wheresoever situate (including accounts in the name of the Lender or of such Company jointly with others), whether such accounts are current, deposit, loan or of any other nature whatsoever, whether they are subject to notice or not and whether they are denominated in sterling or in any other currency, and set-off or transfer any sum standing to the credit of any one or more such accounts in or towards satisfaction of the Secured Obligations after the same have become due and payable.
THE FACILITY AGREEMENT. On 21 December 2016 (after trading hours), the Company as borrower and Trillion Trophy as lender entered into the Facility Agreement in relation to the provision of the Facility by Trillion Trophy to the Company. The principal terms of the Facility Agreement are as follows: Facility limit: A revolving loan facility up to a maximum of HK$250 million. Facility period: The period commencing on the date of the Facility Agreement and ending on the earlier of 31 December 2018 and the date on which the Facility is cancelled or terminated pursuant to the Facility Agreement (or other date as agreed between the Company and Trillion Trophy). Interest: 4.5% per annum. Interest is calculated on the basis of the actual number of days elapsed on a 365-day year and is paid half yearly in arrears. Repayment: The Company shall repay the whole or any part of the amount drawn under the Facility on 31 December 2018. Upon expiry of the facility period, the Facility can be extended subject to mutual agreement between the Company and Trillion Trophy after arm’s length negotiation with terms to be conducted in normal commercial terms or better to the Company. Prepayment: The Company may prepay the whole or any part of the amount drawn under the Facility together with interest accrued thereon by giving Trillion Trophy not less than five business days’ prior notice specifying the date of prepayment. The Company is entitled to drawdown any prepaid amount in accordance to the terms of the Facility Agreement. Security: None.
THE FACILITY AGREEMENT. On 5 July 2021, Million Profit Corporation Limited, an indirect wholly-owned subsidiary of the Company, and Able Might Limited, also an indirect wholly-owned subsidiary of the Company, as borrowers (collectively, the “Borrowers”) entered into a facility agreement (the “Facility Agreement”) with, among others, a consortium of lenders as lenders and Bank of China (Hong Kong) Limited as coordinator and agent in relation to a HK$2,400,000,000 term loan facility (the “Facility”) to be made available to the Borrowers. The Facility is for the purposes of general corporate funding requirements of the Group including but not limited to the refinancing (in part or otherwise) of the existing facility and any existing bilateral bank loan facilities entered into by any member of the Group, and the payment of fees, costs and expenses incurred by the Borrowers in connection with the Facility. * For identification purposes only The final repayment date of all outstanding amounts in respect of the Facility will be 5 July 2026, being 60 months from the date of the Facility Agreement. Pursuant to the Facility Agreement, it will be an event of default if at any time, on or after the date of the Facility Agreement, any one or all of Dr. Xxx Xxx Xxxxx Xxxxxxx, Xx. Xxx Man Xxxx Xxxxxxx, Xx. Xxx Xxx Xxx and any of their affiliates, or the estates, trusts or legal representatives of which any of them are the beneficiaries (collectively, the “Xxx Family”) do not, or cease to legally and beneficially own, directly or indirectly and free from any security whatsoever, in aggregate at least 51% of the entire issued share capital of and equity interests in the Company or do not, or cease to, exercise management control over the Company. As at the date of this announcement, the Xxx Family, together, directly or indirectly, hold approximately 71.99% of the total issued share capital of the Company. The occurrence of the above event of default would, among other things, render any commitments under the Facility to be cancelled and/or all outstanding liabilities of the Group under the Facility Agreement to become immediately due and payable.
