The Proposed Scheme of Arrangement Sample Clauses

The Proposed Scheme of Arrangement. Concurrently with the Proposed Subscription, the Company intends to propose a scheme of arrangement (the “Proposed Scheme”) with all of its creditors (the “Creditors”) to reorganise the existing indebtedness of the Company. The Proposed Scheme is envisaged to result in the settlement in cash and discharge of the indebtedness of the Company owing to eligible Creditors under the Proposed Scheme. Under the Subscription Agreement, up to S$2 million of the Consideration received will be utilised to pay and/or discharge the scheme claims of eligible Creditors under the Proposed Scheme. The remainder of the outstanding liabilities, if any, will be assumed and settled by certain Shareholders of the Company. To give effect to this arrangement, the Company will be obtaining the Irrevocable Undertakings (as defined below) in due course. As of the date of this Announcement, the Proposed Scheme and its terms are still being finalised. The Company will make the necessary announcements when there are further developments on the Proposed Scheme.
Sample 1
AutoNDA by SimpleDocs
The Proposed Scheme of Arrangement. The Company intends to propose a scheme of arrangement with all of its creditors to reorganise its existing indebtedness. As stated in the Company’s announcement dated 8 November 2021, the Company has appointed AAG Corporate Advisory Pte Ltd as the financial adviser to assist in the implementation of the Proposed Scheme. The Proposed Scheme is envisaged to result in the settlement in cash and discharge of the indebtedness of the Company owing to eligible creditors under the Proposed Scheme. In the event that the aggregate indebtedness and/or other liabilities due from the Company to the eligible creditors exceed the Liabilities Threshold, the remainder of the outstanding liabilities will be assumed and settled by the Majority Shareholders. To give effect to this arrangement, the Company will be obtaining undertakings in the form of deeds from the Majority Shareholders. As of the date of this Announcement, the Proposed Scheme and its terms are still being finalised. The Company will make the necessary announcements when there are further developments on the Proposed Scheme.
Sample 1

Related to The Proposed Scheme of Arrangement

  • The Merger On the terms and subject to the conditions set forth in this Agreement, and in accordance with the DGCL (including Section 251(h) of the DGCL), Merger Sub shall be merged with and into the Company at the Effective Time. At the Effective Time, the separate corporate existence of Merger Sub shall cease and the Company shall continue as the surviving corporation (the “Surviving Corporation”).

  • BIDS/PROPOSALS INCORPORATED In addition to the whole Agreement, the following documents listed in order of priority are incorporated into the Agreement by reference: Bid/Proposal Specifications and Contractor’s Response to the Bid/Proposal.

  • Additional proposals If the Company at any time during the continuance of this Agreement desires to modify expand or otherwise vary its activities carried on pursuant to this Agreement beyond those specified in any approved proposal, it shall give notice of such desire to the Minister and within 2 months after giving such notice shall submit to the Minister detailed proposals in respect of such modifications expansions or variations and such other matters as the Minister may require. The provisions of clause 4 and 5 (including (for the avoidance of doubt) clause 5(9)) shall apply, the necessary changes being made, to proposals submitted pursuant to this clause.

  • Interim Order The notice of motion for the application referred to in Section 2.1(a) shall request that the Interim Order provide, among other things:

  • Proposal Proposal means any information supplied by or on behalf of the insured, deemed to be a completed proposal form and medical questionnaire and other relevant information that the insurer may require.

  • Technical Proposal The technical proposal may be presented in free format. It shall not exceed ten pages, not counting the CVs. It shall respect the following page limit and structure: • Technical methodology (max. 7 pages) • Quality management (max. 1 page) • Project management (max. 1 page) • Resource management (proposal (max. 1 page) + CVs of experts)

  • Shareholder Approval The Company Shareholder Approval shall have been obtained.

Time is Money Join Law Insider Premium to draft better contracts faster.