Examples of Entrusted Loan Arrangement in a sentence
None of the Directors have a material interest in the Entrusted Loan Arrangement and therefore, none of the Directors has abstained from voting on the resolutions of the Board for approval of the Entrusted Loan Arrangement contemplated under the Framework Agreement.
Subject to the entering of the Entrusted Loan Agreement and the relevant security documents, the principal terms of the Entrusted Loan Arrangement, including the interest rate and the security involved thereunder, were principally agreed by Xxxxxxxx Xxxxx Xxxxxxx and Xxxxxx Xxxxx after arm’s length negotiations and having taken into account the prevailing market conditions.
Based on the foregoing, the Directors (including the independent non-executive Directors) are of the view that the Entrusted Loan Arrangement was entered into on normal commercial terms and its terms are fair and reasonable and in the interests of the Company and its shareholders as a whole.
As a result, the Entrusted Loan Arrangement contemplated under the Framework Agreement constitutes a connected transaction of the Company.