Examples of Key Subsidiary in a sentence
The relevant Key Subsidiary shall pay any shortfall in interest (“ Additional Secured Debt Interest”) to the relevant Other Creditor within 30 days from the completion of Disposal.
Following the disposal of the Suntec Property and the Dilution (the proceeds of which have been applied towards the repayment of the Company’s secured liabilities), the Initial Value of the Secured Assets of the Other Creditors with Corporate Guarantees for Key Subsidiary (being the Bilateral Facilities Secured Debt), is approximately US$25 million.
Unless otherwise agreed between the relevant Other Creditor and the relevant Key Subsidiary, the interest on the Bilateral Facilities Secured Debt from 1 January 2018 onwards until the completion of the disposal of the Secured Asset(s) shall be based on the terms of the respective Existing Facility.
Save for CIMB Bank Berhad, Bank of China (Malaysia) Berhad, Hong Leong Bank Berhad and OCBC Labuan (collectively, the “Unsecured Other Creditors”), the respective Existing Facility (as defined below) of the rest of the Other Creditors with Corporate Guarantee For Key Subsidiary are secured by Secured Assets.
At the Scheme Meeting for the Proposed Scheme, all the Other Creditors with Corporate Guarantee For Key Subsidiary elected or were deemed to have elected the Term Loan Option in relation to the portion of such Creditor’s Eligible Debt that falls under the Sustainable Debt portion under the Proposed Scheme.