Examples of Onshore Group in a sentence
Notwithstanding any other provision of any Finance Document, no Onshore Group Member shall be required to make or grant, and no Obligor or Group Member shall be required to procure any Onshore Group Member to make or grant, any loan or advance to any Offshore Group Member or Obligor in order to effect or facilitate the effecting of any prepayment of the Utilisation(s) or any part thereof.
WFOE Account (subsidiary Cash Management): to the extent legally possible and commercially reasonable, each Obligor shall (and the Borrower shall procure that each other Group Member which is not a VIE Group Member will) ensure that any cash to which an Onshore Group Member (other than a VIE Group Member) is beneficially entitled is promptly paid or credited into a First Tier WFOE Account.
No later than the fifth Business Day following the date of receipt by the Borrower or any other Offshore Group Member of any Dividends (other than Dividends declared pursuant to Section 5.28) from any Onshore Group Member (the “Onshore Distributions”), the Borrower shall use such cash proceeds to, inter alia, prepay the Term Loans to the extent set forth in Section 2.11(b)(ii).
Each Credit Party shall (and the Borrower shall ensure that each other Group Member will) keep proper books of record and accounts in which full, true and correct entries in conformity in all material respects with GAAP (or IFRS, if applicable with respect to the Onshore Group Members) shall be made of all material dealings and transactions in relation to its business and activities.
It is therefore recommended that Onshore Group South with Tunnel Options should be supported.
The Company and each Original Guarantor are the only members of the Restricted Group that are not members of the Onshore Group.
Pursuant to the Original Agreement as supplemented by the Renewed Management Services Agreement, each of Shanghai SOD, Max Clear and Yida shall provide Management Services to Dalian Onshore Group at an annual management services fee to be calculated at 1%, 1.5% and 1% respectively of the annual total budgeted construction cost for the Dalian Project (which may be revised from time to time).
A complete presentation of the target organization is contained in the annex to the Onshore Group Works Agreement.
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The parties agreed to extend the definition of the Dalian Onshore Group by including the New PRC Subsidiaries, and extend the term of the Original Agreement for three years so that it shall end on 31 December 2013 instead of 31 December 2010.