Examples of Loan Restructuring Agreement in a sentence
The Borrower is advised and undertakes to obtain independent legal and financial advice during this “cooling off” period regarding any term or condition of the Loan Restructuring Agreement.
This addendum forms an annex to, and an integral part of the Loan Restructuring Agreement with the Lender and all words and expressions contained in the aforesaid Loan Restructuring Agreement will bear the same meaning in this addendum unless the contrary appears from the context.
In the event that the Loan was disbursed during the “cooling off” period, the Borrower may cancel the Loan Restructuring Agreement, provided that the Restructured Loan Amount and pro-rata finance charges are the Restructured Loan Amount repaid simultaneously with the letter of cancellation.
The Borrower has the right to terminate this Loan Restructuring Agreement by written notice to the Lender before disbursement of the Loan.
On 20 January 2005, the Company, Probest and Profitown entered into an agreement (the “Loan Restructuring Agreement”), pursuant to the terms of the Loan Restructuring Agreement, Profitown issued new promissory note in favour of Probest, in consideration of Probest waiving portion of the outstanding loan due and owing by the Company to Probest under the old promissory note.
In accordance with the Loan Restructuring Agreement, loan interest paid and payable to Probest amounted to HK$12,316,000 for the year ended 31 December 2007.
Pursuant to the terms of the Loan Restructuring Agreement, the Company executed a guarantee in favour of Probest (the “Swank Guarantee”) to guarantee Profitown’s obligations in respect of interest payable under the new promissory note.
The Additional Funding Plan includes the active negotiation with certain banks under the Loan Restructuring Agreement to refinance and enlarge the bank facilities to support the Group’s future expansion plan in China.
The Loan Restructuring Agreement provides, inter alia¸ that the Company may be able to discharge its obligation as guarantor as and when the financial institution is able to recover all amounts owing as at 21 August 2012 from TTS2003.
The Board of Directors are of the view that the repayment terms and schedule under the Loan Restructuring Agreement are within the capabilities of the Company and, barring any unforeseen circumstances, the repayment terms and schedule are not expected to have any material adverse impact on the cash flow of the Group for the next twelve (12) months from 21 August 2012.