Examples of SPV Loan in a sentence
The Cooperation Agreement on Issuance of Loans and the SPV Loan Agreements is in the English language.
TRANSACTION OVERVIEW – THE TRANSACTION DOCUMENTS – The Cooperation Agreement on Issuance of Loans’ o Repayment and maturity The principal amount, the interest for the reservation of funds and interest for use of the Loan are payable when the Borrower of the Borrower’s Loan that is the source of repayment of the respective Loan makes a payment thereunder to the Lending Company, however no later than until the maturity date set forth in the SPV Loan Agreement or as extended according to this Base Prospectus.
The interest for the reservation of funds accrues from the day when the SPV Loan Agreement was concluded until the Loan is advanced to the Lending Company, and from when the Loan is advanced the interest for the use of the Loan applies.
If before the final maturity date set forth in the SPV Loan Agreement the Repurchase obligation or rights are triggered or if the Buyback Obligation applies the Lending Company has to repay the Loan together with the interest and other ancillary payments accrued thereon when the respective obligation or right is triggered, irrespective of it being before the final maturity date.
As Mr. Lai will be appointed as an executive Director, the entering into of the SPV Loan Agreement and the transactions contemplated thereunder constitutes a connected transaction on the part of the Company under Chapter 20 of the GEM Listing Rules and shall be subject to, among others, Independent Shareholders’ approval at the EGM.
The net proceeds of the Placing of approximately HK$60.2 million will be applied towards the commitment of the Group under the SPV Loan Agreement.
The SPV has made certain representations and warranties relating to the Loans, including on the validity and enforceability of each of the SPV Loan Agreements.
If the conditions set out above have not been satisfied (or waived) on or before 31 August 2021 or such later date as the parties to the SPV Loan Agreement may agree, the SPV Loan Agreement shall cease and determine (save as otherwise provided therein) and neither party shall have any obligations nor liabilities towards each other save for any antecedent breaches.
The tranche 1 of the Loan shall be in the principal amount of not less than HK$55,000,000 and shall be drawn within 90 days upon signing of the SPV Loan Agreement (or such longer period as the Company may agree).
If the conditions precedent is not met, or other agreed circumstances occur, such as a Material Event of Default as such is defined in the Cooperation Agreement occurs, the SPV may refuse granting of Loans and hence the SPV Loan Agreement may not be concluded and the disbursement of the Loan would not take place.