Business Rescue definition

Business Rescue means proceedings to facilitate the rehabilitation of a company that is financially distressed by providing for-

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Business Rescue shall have the meaning ascribed to such term in section 128(1)(b) of the Companies Act;

Business Rescue means proceedings under Chapter 6 of the Companies Act to facilitate the rehabilitation of a company which is Financially Distressed, as more fully defined in section 128(1)(b) of the Companies Act;

Examples of Business Rescue in a sentence

• This section covers the duties and obligations of the Consulting Engineer in the provision of the Employer’s Agent and site supervisory staff for the administration, construction monitoring and measurement of the Works carried out by the Contractor appointed by the Client during the original Works Contract duration, extended duration and including prolonged site stoppages not under the control of the Client (i.e., Business Rescue or Community unrest).

• This section covers the duties and obligations of the Service Provider in the provision of the Engineer and site supervisory staff for the administration, construction monitoring and measurement of the Works carried out by the Contractor appointed by the Client during the original Works Contract duration, extended duration and including prolonged site stoppages not under the control of the Client (i.e., Business Rescue or Community unrest).

• Save in connection with the implementation of the Business Rescue Plan, the Borrower shall not enter into any amalgamation, demerger, merger or corporate reconstruction, except with the prior written consent of the Facility Agent (acting on the instructions of the Majority Lenders).

• This Agreement has been duly executed and delivered by the Borrower by the Business Rescue Practitioner and constitutes, and each other Finance Document and Project Document when executed and delivered by the Borrower will constitute, a legal, valid and binding obligation of the Borrower and each other party thereto (other than the Finance Parties) enforceable against it in accordance with its terms, subject to Legal Reservations.

• Keyloop may immediately terminate this Contract by giving written notice to Customer if Keyloop becomes aware that (i) the Customer is Financially Distressed; or (ii) Customer is contemplating or considering, or has discussed or agreed, to any Business Rescue of Customer or proposes to do any of these things; or (iii) any person is proposing to take, or taking, any step to apply to court or actually applies to court for the Business Rescue of Customer.

More Definitions of Business Rescue

Business Rescue means the business rescue proceedings of the Company conducted under Chapter 6 of the Companies Act;

Business Rescue means: 1.1.8.1. where the company passes a resolution that the company voluntarily begins business rescue proceedings and places the company under supervision in terms of section 129(1) of the Companies Act 71 of 2008 or; 1.1.8.2. where an individual applies to court for an order placing the company under supervision and commences business rescue proceedings in terms of section 131 (1) of the Companies Act 71 of 2008;

Business Rescue means proceedings to facilitate the rehabilitation of a company or close corporation that is financially distressed, as contemplated in the Companies Act, 71 of 2008, as amended;

Business Rescue means proceedings to facilitate the rehabilitation of the Company, which is financially distressed, as more fully defined in section 128(1)(b) of the Companies Act and paragraph12 herein;

Business Rescue means the business rescue proceedings of the Company conducted in terms of Chapter 6 of the Companies Act;

Business Rescue means proceedings to facilitate the rehabilitation of a company or close corporation that is financially distressed, as contemplated in the Companies Act, No 71 of 2008, as amended;

Business Rescue means proceedings to facilitate the rehabilitation of a company that is financially distressed1 by providing for the temporary supervision of the company and of the management of its affairs, business and property, as well as a temporary moratorium on the rights of claimants against the company or in respect of property in its possession.