Examples of First Relevant Period in a sentence
Pursuant to the Deed of Guarantee, Mr. Tang and Mr. Scolari have jointly and severally guaranteed to Worth Perfect that the Profits for the First Relevant Period, being 16 March 2006 to 15 March 2007, shall not be less than HK$150 million whereas the Profits for the Second RelevantPeriod, being 16 March 2007 to 15 March 2008, shall not be less than HK$250 million.
Given that Mr. Guo is the guarantor of the Guaranteed Profit and has undertaken to the Company to use his best endeavours to procure the existing management of Hou Wan not to change materially during the First Relevant Period and/or the Second Relevant Period provided that he will remain as the management team member of Hou Wan, the Directors believe the risk of non-renewal of the junket licence and Junket Representative Agreement upon expiry is minimized.
The Promissory Note will be settled within 60 days after the determination of the Shortfall Amount for each of the First Relevant Period and the Second Relevant Period or such other date as may be agreed in writing between the parties (details of the Shortfall Amount are disclosed in Note 21 to the consolidated financial statements).
As disclosed in Note 21 to the consolidated financial statements, the Promissory Note of approximately HK$18,962,000 was used to settle the Shortfall Amount for the First Relevant Period.
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