Common use of Financial Independence Clause in Contracts

Financial Independence. The Target Group has its own accounting systems, accounting and finance department, independent treasury function for cash receipts and payments and it makes financial decision according to its own business needs. The Target Group has independent internal control and accounting systems. It is capable of obtaining financing from third parties, if necessary, without reliance on the Controlling Shareholders. During the Track Record Period, ▇▇. ▇▇▇▇ ▇▇▇▇ provided guarantees in respect of certain bank borrowings by the Target Group. See Note 29 of the Accountants’ Report of the Target Group in Appendix I to this circular for further details. All such guarantees will be released upon Closing.