Existing Undertakings definition

Existing Undertakings means the undertakings provided in the spin-off agreement between LSD and the Company, a deed of undertaking provided by LSD and the non-compete agreement among LSG, Dr. Lam Kin Ngok, Peter, Dr. Lam Kin Ming, the late Mr. Lim Por Yen and the Company, all dated 12 November 1997, details of which have been disclosed in the listing document of the Company dated 18 November 1997; and
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Existing Undertakings means the undertakings given by the BT Vendor to the Secretary of State for Trade and Industry signed on 23 July, 1996, in the agreed form;
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Existing Undertakings means the undertakings provided in the spin-off agreement between LSD and LFH, a deed of undertaking provided by LSD and the non- compete agreement among LSG, Dr. Lam Kin Ngok, Peter, Dr. Lam Kin Ming, the late Mr. Lim Por Yen and LFH, all dated 12 November 1997, details of which have been disclosed in the listing document of LFH dated 18 November 1997; and
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Examples of Existing Undertakings in a sentence

  • Lam will not be regarded as being in breach of the Existing Undertakings.

  • The Proposed Amendments would impact Lai Fung by lifting the decades-old restrictions on the Lai Sun Group (excluding the Lai Fung Group) to participate in the opportunities permitted under the 2019 Supplemental Deed which are otherwise prohibited under the Existing Undertakings, and would affect the Lai Sun Group as a whole by evening the playing field with respect to such opportunities.

  • The terms and conditions of the Existing Undertakings provided by LSG, LSD and Messrs.

  • The Management perceives that under the current economic environment and market condition, the Existing Undertakings can no longer fulfill its original intention to avoid undue competition between a Hong Kong listed issuer and its controlling shareholder.

  • Please refer to the listing document of Lai Fung dated 18 November 1997 for further details on the Existing Undertakings.

  • It enables the LSD Group to potentially capture higher return from investing in new investment opportunities which they are not allowed to invest under the Existing Undertakings.

  • Under the Deed of Conditional Waiver, if for whatever reason Lai Fung does not take up or participate at all in an opportunity restricted under the Existing Undertakings, the Group and the LSD Group, being bound by the Existing Undertakings, will be prohibited from pursuing the same, which will not help shore up the image of the Lai Sun Group standing by or stepping in for Lai Fung, but will promote an image of Lai Fung being isolated from the Lai Sun Group.

  • However, with the Deed of Conditional Waiver, the Company will not require such transfer since the activities previously restricted under the Existing Undertakings, including the PRC Property Projects and PRC Infrastructure Projects, (i.e. the Restricted Opportunities) will be within the scope of the Waiver and subject to the determination of the Special Committee.The Existing Undertakings shall continue to have effect so long as LSG, LSD and Messrs.

  • The scope and application of the 2019 Supplemental Deed are confined such as to only permit the Group, the LSD Group and the Lim Family to participate in the relevant entities for investment returns without gaining control thereof, and the Existing Undertakings, in conjunction with the Deed of Conditional Waiver, will continue to protect the Lai Fung Group.

  • Market practice As set out in the Letter from the Board, the Existing Undertakings was provided by the controlling shareholders over 20 years ago.

Related to Existing Undertakings

  • Undertakings as references to obligations under this Framework Agreement;

  • Special Purpose Financing Undertakings representations, warranties, covenants, indemnities, guarantees of performance and (subject to clause (y) of the proviso below) other agreements and undertakings entered into or provided by the Borrower or any of its Restricted Subsidiaries that the Borrower determines in good faith (which determination shall be conclusive) are customary or otherwise necessary or advisable in connection with a Special Purpose Financing or a Financing Disposition; provided that (x) it is understood that Special Purpose Financing Undertakings may consist of or include (i) reimbursement and other obligations in respect of notes, letters of credit, surety bonds and similar instruments provided for credit enhancement purposes, (ii) Hedging Obligations or other obligations relating to Interest Rate Agreements, Currency Agreements or Commodities Agreements entered into by the Borrower or any Restricted Subsidiary, in respect of any Special Purpose Financing or Financing Disposition, or (iii) any Guarantee in respect of customary recourse obligations (as determined in good faith by the Borrower, which determination shall be conclusive) in connection with any Special Purpose Financing or Financing Disposition, including in respect of Liabilities in the event of any involuntary case commenced with the collusion of any Special Purpose Subsidiary or any Affiliate thereof, or any voluntary case commenced by any Special Purpose Subsidiary, under any applicable bankruptcy law, and (y) subject to the preceding clause (x), any such other agreements and undertakings shall not include any Guarantee of Indebtedness of a Special Purpose Subsidiary by the Borrower or a Restricted Subsidiary that is not a Special Purpose Subsidiary.

  • L/C Undertaking has the meaning set forth in Section 2.12(a).

  • group of undertakings means a controlling undertaking and its controlled undertakings;

  • Standard Securitization Undertakings means representations, warranties, covenants and indemnities entered into by the Borrower or a Subsidiary thereof that are reasonably customary in non-recourse securitization transactions.

  • public undertaking means any undertaking over which the public sector bodies may exercise directly or indirectly a dominant influence by virtue of their ownership of it, their financial participation therein, or the rules which govern it; for the purpose of this definition, a dominant influence on the part of the public sector bodies shall be presumed in any of the following cases in which those bodies, directly or indirectly:

  • parent undertaking means a parent undertaking as defined in point (15)(a) of Article 4(1) of Regulation (EU) No 575/2013;

  • Continuing Disclosure Undertaking means the Continuing Disclosure Undertaking of the Issuer, in substantially the form attached hereto as Exhibit 1, dated the Closing Date, for the purpose of providing continuing disclosure information under Rule 15c2-12 adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as may be amended from time to time.

  • Existing uses means those uses actually attained in a water body on or after November 28, 1975, whether or not they are included in the water quality standards.

  • admission arrangements means the arrangements for a particular school or schools which govern the procedures and the decision making for the purposes of admitting pupils to the school.

  • Disclosure Undertaking means the Issuer’s master undertaking to provide ongoing disclosure relating to certain obligations contained in the SEC Rule in connection with the general obligation notes of the Issuer issued after February 27, 2019, as implemented by Ordinance Number 50-933 of the Issuer.

  • railway undertaking means any public or private undertaking licensed according to this Directive, the principal business of which is to provide services for the transport of goods and/or passengers by rail with a requirement that the undertaking ensure traction; this also includes undertakings which provide traction only;

  • ancillary services undertaking means an undertaking the principal activity of which consists in owning or managing property, managing data-processing services, or any other similar activity which is ancillary to the principal activity of one or more credit institutions;

  • group undertaking means the Company or another undertaking in the group;

  • Manager’s Undertakings means any or all of them;

  • Existing use means a use actually attained in a surface water of the state on or after November 28, 1975, whether or not it is a designated use.

  • Approved Manager’s Undertaking means, in relation to each Ship, a letter of undertaking executed by the Approved Manager in favour of the Security Trustee in the Agreed Form agreeing certain matters in relation to the Approved Manager serving as the manager of that Ship and subordinating the rights of the Approved Manager against such Ship and the relevant Borrower to the rights of the Security Trustee under the Finance Documents;

  • Letter of Undertaking means the letter of undertaking from, amongst others, the Issuer and its Managing Directors to the Initial Purchaser, Investment Manager and the Trustee.

  • Original Obligations means the “Obligations” as defined in the Original Credit Agreement.

  • Existing Agreement has the meaning set forth in the recitals hereto.

  • Confidentiality Undertaking means a confidentiality undertaking in substantially the appropriate form recommended by the LMA from time to time or in any other form agreed between the Borrowers and the Facility Agent.

  • Existing source or existing discharger (in the NPDES program) means any source which is not a new source or new discharger.

  • Existing Contract means a contract that was made before the operative date;

  • Previous Agreement has the meaning assigned to such term in the Recitals.

  • Facility Letter means the facility letter and the other letters of offer or other letters which may from time to time be issued by the Bank to the Borrower in relation to the Facilities.

  • Existing Contracts means the existing licenses and contracts given by the Railway Administration / Authority, in relation to commercial establishments, as existing on Station Development Land, as on the date of the Agreement, and as further set out in the Schedules, which shall, for avoidance of doubt, exclude any licenses and/ or contracts in relation to any Excluded Activities and/or Railway Operational Activities;