BEE SPV definition

BEE SPV means Business Venture Investments No 1567 (Proprietary) Limited (RF), registration number 2011/115501/07;
Sample 1Sample 2
BEE SPV means Imbewu SPV 14 Proprietary Limited (registration number 2013/209910/07);
Sample 1
BEE SPV means Imbewu SPV 14 Proprietary Limited (Registration
Sample 1Sample 2

Examples of BEE SPV in a sentence

  • MakanaMakana, which is controlled by Makana Investment Corporation, will own an effective 4% of Hulamin Opco through BEE SPV.

  • BEE SPV will subscribe for 38 Hulamin Opco shares for a total cash consideration of R37.5 million which will represent an effective 10% interest in Hulamin Opco.

  • Imbewu is a black controlled consortium which will own an effective 6% of Hulamin Opco through BEE SPV.

  • BEE SPV is not a public shareholder as defined in paragraph 4.25 of the JSE Listings Requirements as J B Magwaza, a director of THG and a shareholder of Imbewu, is a related party to Hulamin as defined in the JSE Listings Requirements.

  • BEE SPV will subscribe for 38 Hulamin Opco shares which will constitute a 10% interest in Hulamin Opco for a consideration of R37.5 million.

  • Specific issue of A ordinary shares BEE SPV will subscribe for 25 000 000 A ordinary shares at par value (aggregating to R2.5 million), which will initially entitle BEE SPV to 10% of the voting rights attaching to the Hulamin ordinary shares in issue.

  • The A ordinary shares will not carry any dividend or other economic rights, but will entitle the holder, BEE SPV, to initially exercise 10% of the voting rights attaching to the Hulamin ordinary shares in issue at a general meeting until BEE SPV ceases to hold shares in Hulamin Opco at which time the Hulamin A ordinary shares will be repurchased by Hulamin at their par value of R0.10 per share.

  • A debit of R1 billion was recorded in equity, between share premium and retained earnings at the date of consolidation of BEE SPV as detailed in the statement of changes in equity of Grindrod’s 2018 audited financial statements.

  • If Hulamin does not exercise this call option within 180 days then BEE SPV will remain a shareholder of Hulamin Opco and the exchange referred to in sub-paragraph (iii) will not take place on the seventh anniversary of the effective date.

  • BEE SPV is a special purpose vehicle established for the purpose of holding the interests of the strategic black partners in Hulamin.

Related to BEE SPV

  • Special Purpose Subsidiary means any (a) not-for-profit Subsidiary, (b) captive insurance company or (c) Receivables Subsidiary and any other Subsidiary formed for a specific bona fide purpose not including substantive business operations and that does not own any material assets, in each case, that has been designated as a “Special Purpose Subsidiary” by the Borrower.

  • Special Purpose Securitization Subsidiary means (i) a direct or indirect Subsidiary of the Borrower established in connection with a Permitted Securitization Financing for the acquisition of Securitization Assets or interests therein, and which is organized in a manner (as determined by the Borrower in good faith) intended to reduce the likelihood that it would be substantively consolidated with Holdings (prior to a Qualified IPO), the Borrower or any of the Subsidiaries (other than Special Purpose Securitization Subsidiaries) in the event Holdings (prior to a Qualified IPO), the Borrower or any such Subsidiary becomes subject to a proceeding under the U.S. Bankruptcy Code (or other insolvency law) and (ii) any subsidiary of a Special Purpose Securitization Subsidiary.

  • Permitted Securitization Financing means one or more transactions pursuant to which (i) Securitization Assets or interests therein are sold to or financed by one or more Special Purpose Securitization Subsidiaries, and (ii) such Special Purpose Securitization Subsidiaries finance their acquisition of such Securitization Assets or interests therein, or the financing thereof, by selling or borrowing against Securitization Assets and any Hedging Agreements entered into in connection with such Securitization Assets; provided, that recourse to the Borrower or any Subsidiary (other than the Special Purpose Securitization Subsidiaries) in connection with such transactions shall be limited to the extent customary (as determined by the Borrower in good faith in consultation with the Administrative Agent) for similar transactions in the applicable jurisdictions (including, to the extent applicable, in a manner consistent with the delivery of a “true sale”/“absolute transfer” opinion with respect to any transfer by the Borrower or any Subsidiary (other than a Special Purpose Securitization Subsidiary)).

  • Portfolio Company means the issuer or obligor under any Portfolio Investment held by any Obligor.

  • Qualified Receivables Financing means any Receivables Financing of a Receivables Subsidiary that meets the following conditions:

  • Permitted Sale Leaseback means any Sale Leaseback consummated by the Borrower or any of the Restricted Subsidiaries after the Original Closing Date, provided that any such Sale Leaseback not between (a) a Credit Party and another Credit Party or (b) a Restricted Subsidiary that is not a Credit Party to another Restricted Subsidiary that is not a Credit Party is consummated for fair value as determined at the time of consummation in good faith by (i) the Borrower or such Restricted Subsidiary and, in the case of any Sale Leaseback (or series of related Sales Leasebacks) the aggregate proceeds of which exceed $100,000,000, (ii) the board of directors of the Borrower or such Restricted Subsidiary (which such determination may take into account any retained interest or other Investment of the Borrower or such Restricted Subsidiary in connection with, and any other material economic terms of, such Sale Leaseback).

  • Sub-acute facility means a facility that provides intermediate care on short-term or long-term basis.

  • Receivables Seller means the Borrower or those Subsidiaries that are from time to time party to the Permitted Receivables Facility Documents (other than any Receivables Entity).