Finance Undertaking definition

Finance Undertaking means the undertaking to be given by a licensed bank or registered deposit-taking company to provide finance for completion of the Development;
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Finance Undertaking means a finance company or a financial institution;
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Finance Undertaking means the undertaking to be given by a licensed bank or registered deposit-taking company authorized under section 16 of the Banking Ordinance to provide finance for Completion of the Development;
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Examples of Finance Undertaking in a sentence

  • Tax treatment of Finance Undertaking For corporation tax purposes, the finance undertaking will be treated as having made a payment of interest to the depositor and will be entitled to deduct the amount as an expense of its trade - however see paragraph 7.2.1 above in this regard.

  • If more than one of the options are executable then some fair choice is made among the possibilities.

  • To facilitate smooth processing of pre-sale consent applications, standard forms of Statutory Declaration and Finance Undertaking have been devised for use in cases where financing the completion of the development is by the Combined Method.

  • While the Combined Method would be equally acceptable as evidence of the developer’s financial ability to complete the development, variation to the standard form of Finance Undertaking would be required.

  • Out of the total Finance Undertaking Facilities of HK$2,840.0 million, HK$2,407.7 million (31 December 2016: HK$2,407.7 million) was utilised by Ultimate Vantage as at 30 June 2017.

  • Finance Undertaking In cases where completion of the development is to be financed by Finance Undertaking or the Combined Method, LACO would accept only one single Finance Undertaking from a licensed bank or registered deposit-taking company authorized undersection 16 of the Banking Ordinance.

  • They are – 2.2.1 Building Mortgage; and 2.2.2 Finance Undertaking.

  • Building Mortgage and Finance Undertaking Lands Department all along accepts two methods of financing the completion of a development, namely, Building Mortgage and Finance Undertaking and developers have often adopted either one of the two methods.

  • The Finance Undertaking must be forwarded to LACO within 7 working days after completion of its registration.

  • The Financiers acknowledge and confirm that the Person acting as trustee under the Finance Undertaking and Guarantee (Performing Subsidiary) is empowered to exercise all of their rights and powers under this deed and agree not to take any action or proceedings to set aside any act, notice or omission of the Undertaking and Guarantee Trustee undertaken in accordance with this deed.

Related to Finance Undertaking

  • insurance undertaking means insurance undertaking as defined in point (1) of Article 13 of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (1);

  • reinsurance undertaking means reinsurance undertaking as defined in point (4) of Article 13 of Directive 2009/138/EC;

  • Performance Undertaking means that certain Performance Undertaking, dated as of the Closing Date, by Performance Provider in favor of Seller, substantially in the form of Exhibit XI, as the same may be amended, restated, supplemented or otherwise modified from time to time.

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

  • 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.

  • Demerged Undertaking means the Premium Brands Business of the Demerged Company and includes related assets, liabilities, rights and powers, on a going concern basis, representing an undertaking in compliance with Sec. 2(19AA) of the Income Tax Act, as on the Appointed Date, which shall be transferred and vested with the Resulting Company upon Demerger by the Demerged Company in terms of this Scheme. Without prejudice and limitation to the generality of the above, the Demerged Undertaking means and includes,:

  • 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:

  • 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.

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

  • related undertaking means any undertaking in which any person has a

  • Undertaking Letter The letter in substantially the form set forth in Exhibit C of the Trust Agreement.

  • Facility Agreement means an agreement or arrangement between a State Party and the Organization relating to a specific facility subject to on-site verification pursuant to Articles IV, V and VI.

  • Affidavit and Undertaking means the affidavit and undertaking provided by the Bidder substantially in form and manner as annexed in Annexure I hereto;

  • Intercompany Loan Agreement has the meaning set forth in the Purchase and Sale Agreement.

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

  • Master Standby Agreement means the Master Agreement for Standby Letters of Credit dated as of the Closing Date among Borrowers, as Applicant(s), and GE Capital, as issuer.

  • Financial Agreement means an agreement that meets the

  • 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;

  • Guarantee and Adherence Agreement means the guarantee and adherence agreement pursuant to which the Guarantors shall, amongst other, (i) guarantee all amounts outstanding under the Finance Documents, including but not limited to the Bonds, plus accrued interests and expenses, (ii) agree to subordinate all subrogation claims, and (iii) undertake to adhere to the terms of the Finance Documents.

  • Second Lien Security Agreement means the Second Lien Security Agreement, dated as of the date hereof, among the Initial Borrower, the Parent Borrower, certain Subsidiaries of the Parent Borrower from time to time party thereto and the Second Lien Notes Collateral Agent, as amended, restated, waived, restructured, renewed, extended, supplemented or otherwise modified from time to time or as replaced in connection with any Refinancing, extension, refunding or replacement of the Second Lien Notes Indenture.

  • Guaranty Agreement means a supplemental indenture, in a form satisfactory to the Trustee, pursuant to which a Subsidiary Guarantor guarantees the Company’s obligations with respect to the Securities on the terms provided for in this Indenture.

  • Subsidiary Loan Agreement means the agreement to be entered into between the Borrower and ECTEL pursuant to Section 3.01(b) of this Agreement, as the same may be amended from time to time; and such term includes all schedules to the Subsidiary Loan Agreement;

  • Original Loan Agreement has the meaning set forth in the Recitals to this Agreement.

  • financial undertaking means any of the following entities:

  • Finance Parties means the Agents, the Arrangers, the Bookrunners, the Security Trustee, the Lenders and each Hedge Counterparty and “Finance Party” means any of them.