Examples of Entrusted Loan Arrangement in a sentence
If an employee’s regularly scheduled tour of duty includes two shifts beginning on a holiday, the first shift is considered as a holiday to determine holiday benefits.DONALD L.
The advance under the Entrusted Loan Arrangement constitutes an advance to entity under Rule 13.13 of the Listing Rules.
With a view to raising the return on capital and considering that the high interest rate market will not stay on hold in the long term, the Directors consider that the Entrusted Loan Arrangement would be beneficial to the Group in terms of return and risk control.
Since the terms of the Entrusted Loan Arrangement reflect the normal commercial terms of transactions of this nature and can provide the Group with stable revenue and cashflow stream from the interest received and the Entrusted Loan Arrangement are in the ordinary and usual course of business of the Group, the Directors consider that they are fair and reasonable and are in the interest of the Company and the Shareholders as a whole.
During the period from 16 December 2013 to 28 September 2014, the Company and its subsidiaries entered into ten entrusted loan agreements with Datang Finance Company and Renewable Resource Company for an aggregate amount of no more than RMB3,402 million in relation to the provision of entrusted loans by the Company to Renewable Resource Company through the Entrusted Loan Arrangement, in which Datang Finance Company acted as the lending agent.
Guarantee The Guarantor shall provide guarantee in favour of the Lender for, including but not limited to, unpaid principal amount of the Entrusted Loan and the interest accrued thereon, compensation, default interest or other monies payable by the Borrower under and all expenses incurred by the Lender caused by or in relation to the Entrusted Loan Arrangement.
The terms of the Entrusted Loan Arrangement were arrived at after arm’s length negotiations among the Lender, the Borrower, the Lending Agent and the Guarantor.
The Controlling Shareholder, holding 2,286,343,570 issued Shares of, representing approximately 54.9% of the issued share capital of, the Company as at the date of this announcement, has given its written approval in respect of the Entrusted Loan Arrangement.
To the best of the Directors’ knowledge, information and belief having made all reasonable enquires, no Shareholder has a material interest in the Entrusted Loan Arrangement.
On 7 May 2020 (after trading hours), Qifeng (an indirect wholly-owned subsidiary of the Company), QURC Micro-credit Loan Company and Huizhou Jiuyu entered into the Entrusted Loan Arrangement, pursuant to which QURC Micro-credit Loan Company, acting as the lending agent, will release a loan in the principal amount of RMB195,100,000, which will be funded by Qifeng, to Huizhou Jiuyu, in accordance with the terms of the Entrusted Loan Contract and the Entrusted Loan Entrustment Contract.