Examples of HP Agreements in a sentence
The Directors, to the best of their knowledge, information and belief and having made all reasonable enquiries, confirm that Sun Motor Group and its associates, including SMI and Hysan, the hire purchase lessors under the HP Agreements and the Scheme Administrators are Independent Third Parties.
Upon Completion, SMI will be released from all obligations under the HP Agreements and Smart Electric shall take over from SMI all outstanding obligations of an aggregate amount of approximately HK$6.0 million payable to hire purchase lessors under the HP Agreements.
SMI shall execute and also procure the execution of the HP Novation Agreements, under which SMI shall be released from all obligations under the HP Agreements and Smart Electric shall take over from SMI all its outstanding obligations of approximately HK$6.0 million payable to the hire purchase lessors under the HP Agreements for the acquisition of the HP Assets by Smart Electric.
Equitable AssignmentAssignment by Oodle to the Issuer of the benefit of the Receivables (and the Ancillary Rights) derived from HP Agreements governed by the laws of England and Wales will take effect in equity only because no notice of the assignment will be given to Obligors.
HP Agreements regulated by the Consumer Credit Act 1974 (as amended) United Kingdom consumer protection laws regulate consumer credit contracts, including the HP Agreements (such HP Agreements, the "Regulated HP Agreements").
The gross consideration of HK$65.0 million in respect of the Acquisition has been determined (i) based on arm’s length negotiations between SMI and Smart Electric on a willing buyer and willing seller basis in view of the financially distressed situation of SMI, (ii) by reference to the range of values assessed under the Equipment Valuation Report and the Inventory Valuation Report; and (iii) the actual outstanding obligations of SMI of approximately HK$6.0 million under the HP Agreements.
The application of the CCA to the HP Agreements which are regulated by the CCA (such HP Agreements, the "Regulated HP Agreements") will have several consequences including the following (refer to the section "LEGAL AND REGULATORY CONSIDERATIONS – HP Agreements regulated by the Consumer Credit Act 1974 (as amended) – Regulatory framework" for further details): • Oodle has to comply with authorisation and permission requirements and the credit agreement must comply with origination requirements.
During the Advisory Period, you will continue to comply with all Company policies and procedures, applicable laws, any applicable written agreements you have entered with the Company, including, without limitation, your HP Agreements Regarding Confidential Information and Proprietary Developments (the “ARCIPD”, a copy of the most recent execution, signed on January 20, 2020, is attached hereto as Exhibit A).
The application of the CCA to the Regulated HP Agreements will have several consequences, including the following: • Oodle has to comply with authorisation and permission requirements and the credit agreement must comply with origination requirements.
TCIM is claiming RM3,066,891.83 being the amount due to TCIM under the HP Agreements including 10% interest rate on such amount from the date of judgement until full payment.