Examples of Cross Guarantee Agreement in a sentence
The Existing Guarantee Limit and historical figures Pursuant to the Cross Guarantee Agreement, the Existing Guarantee Limit for the three years ending 31 December 2015 is RMB400,000,000 (equivalent to approximately HK$505,785,000).
The transactions under the Cross Guarantee Agreement became continuing connected transactions of the Company following the Company’s acquisition of 51% interest in Shanghai Urban Development in November 2011.
Accordingly, the provision of guarantees by Shanghai Urban Development in respect of the loans and credit facilities obtained by State-owned Management Company under the Amended Cross Guarantee Agreement constitutes a discloseable transaction of the Company and is therefore subject to the requirements of reporting and announcement pursuant to Chapter 14 of the Listing Rules.
State-owned Management Company is therefore regarded as a connected person of the Company for the purposes of Chapter 14A of the Listing Rules, and as such the provision of guarantees by Shanghai Urban Development in respect of the loans and credit facilities obtained by State-owned Management Company pursuant to the Amended Cross Guarantee Agreement constitutes continuing connected transactions of the Company under the Listing Rules.
On 9 February 2015, Shanghai Urban Development and State-owned Management Company entered into the Third Supplemental Agreement amending the terms of the Cross Guarantee Agreement.
Reference is also made to the announcement of the Company dated 6 December 2012 and the circular of the Company dated 31 December 2012 in relation to the Cross Guarantee Agreement.