Shareholder Loan. (i) Save for the Shareholder Loan to be assigned to Buyer, there is no amount owing to Seller by the Company or Zhongce or their Affiliates or their directors, shareholders or employees. (ii) At Closing, the amount of the Shareholder Loan to be assigned to Buyer will represent the entire amount owing by the Company to Seller or any other Person. (iii) Seller is entitled to assign the Shareholder Loan to Buyer pursuant to the Deed of Assignment free from any Encumbrances.
Appears in 2 contracts
Sources: Share Purchase and Loan Assignment Agreement, Share Purchase and Loan Assignment Agreement (China Enterprises LTD)