Legend Credit definition

Legend Credit. Legend Credit Limited, a limited liability company incorporated under the laws of Hong Kong which is a licensed money lender under the Money Lenders Ordinance (Money Lender’s Licence No. 0187/2022), and an indirect wholly-owned subsidiary of the Company
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Examples of Legend Credit in a sentence

  • On 19 November 2021, Legend Credit entered into the Mortgage Loan Agreement B with Borrowers B and Mortgagor B, pursuant to which, Legend Credit agreed to lend to Borrowers B the Second Loan in the principal amount of HK$5,600,000 at an effective interest rate of 9% per annum.

  • Legend Credit principally engages in money lending business under the Money Lenders Ordinance.

  • The principal terms of the Mortgage Loan Agreement are summarised below: Date : 17 October 2022 Lender : Legend Credit, an indirect wholly-owned subsidiary of the Company Borrower : the Borrowers Mortgagor : the Mortgagors Loan : in the principal amount of HK$55,000,000 Effective interest rate : 9.25% per annum Drawdown date : 1 November 2022 Maturity date : 1 November 2023 Repayment term : The Loan shall be repaid in 12 successive monthly instalments.

  • On 29 December 2021, Legend Credit entered into the Supplemental Agreement A and Supplemental Agreement B with the Borrower, the Mortgagor and the Guarantors, pursuant to which, Legend Credit agreed to extend the repayment dates for the First Loan and the First Additional Loan to 5 January 2023 and 27 January 2023, respectively.

  • On 4 January 2021, Legend Credit, an indirect wholly-owned subsidiary of the Company, entered into the First Agreement with the Borrower, the Mortgagor and the Guarantors, pursuant to which, Legend Credit agreed to lend to the Borrower the First Loan in the principal amount of HK$7,000,000 at an effective interest rate of 8% per annum.

  • On 2 November 2022, Legend Credit, an indirect wholly-owned subsidiary of the Company, entered into the Mortgage Loan Agreement with the Borrower, the Mortgagor and the Guarantor, pursuant to which, Legend Credit agreed to lend to the Borrower the Loan in the principal amount of HK$52,000,000 at an effective interest rate of 8.5% per annum for a repayment term of 10 months.

  • To the best of the knowledge, information and belief of the Directors after having made all reasonable enquiries, each of (i) the Customers and their ultimate beneficial owner; (ii) GICL and its ultimate beneficial owners; (iii) Co-Lender A and its ultimate beneficial owners; (iv) Legend Credit and its ultimate beneficial owners; and (v) Co-Lender B and its ultimate beneficial owner is an Independent Third Party and not connected with the Group.

  • On 28 October 2021, Legend Credit entered into the Mortgage Loan Agreement A with Borrowers A and Mortgagors A, pursuant to which, Legend Credit agreed to lend to Borrowers A the First Loan in the principal amount of HK$11,800,000 at an effective interest rate of 9% per annum.

  • On 26 August 2021, Legend Credit entered into the First Supplemental Agreement with the Borrower, the Mortgagor and the Guarantors, pursuant to which, Legend Credit agreed to lend to the Borrower the First Additional Loan in the principal amount of HK$3,000,000 at an effective interest rate of 8% per annum.

  • Pursuant to the Co-Lend Deed, the Lenders agree that in the event of default by the Customers, the net proceeds received from the realisation of the collaterals provided by the Customers shall firstly be applied for repayment of the outstanding principal and interest due to the Group, GICL, Co- Lender A and Legend Credit, in equal proportion.

Related to Legend Credit

  • Open-end credit means credit extended by a creditor under an agreement in which:

  • Legend shall have the meaning specified in Section 8.1.

  • Earned credit means the amount of the bid incentive allocated to a contractor upon completion of a contract in which the contractor met or exceeded his or her goals for the utilization of BEPDs in the performance of the contract.

  • Original Credit Agreement shall have the meaning assigned to such term in the recitals hereto.

  • Company Credit Agreement means that certain Credit Agreement, dated as of January 28, 2019, by and between the Company, the lenders party thereto from time to time and SunTrust Bank, as administrative agent for the revolving lenders and as collateral agent for the secured parties thereunder.