Terms of the Facility. 1) The Bank shall maintain/cause to be maintained the Facility account in the name of the Borrower for entering the particulars of the said Facility for the time being (hereinafter referred to as the said "Account”).
Terms of the Facility. With regard to any Facility which is subject to any specific agreement or arrangement now or hereafter subsisting, the Customer covenants to discharge and satisfy such Facility in accordance with the terms of such agreement or arrangement.
Terms of the Facility. 24 2.1 Commitments 24 2.2 [Reserved] 25 2.3 Limitations on Interest Periods 25 2.4 Limitation on Types of Loans 25 2.5 Use of Loan Proceeds 25 2.6 Interest 27
Terms of the Facility. 1.1 Construction of the Agreement
Terms of the Facility. The board (the “Board”) of directors of the Company is pleased to announce that on 24 February 2022, the Company entered into a revolving facility agreement (the “Facility Agreement”) with Smart Neo Holdings Limited (“Smart Neo”). Smart Neo is a substantial shareholder of the Company and is wholly and beneficially owned by Xx. Xx Xx (“Xx. Xx”), the Chairman and an executive Director of the Company. Pursuant to the Facility Agreement, it is agreed that Smart Neo shall grant a revolving facility (the “Facility”) up to the principal amount of US$750,000,000 (which is equivalent to approximately HK$5.85 billion) to the Company for a term of 12 months effective from the date of the Facility Agreement. The Facility is unsecured, interest-free and repayable on demand. The draw-down and provision of each tranche of loan under the Facility is subject to the fulfilment of the conditions specified in the Facility Agreement. Smart Neo shall have the absolute discretion to waive any or all of the conditions of the Facility Agreement as it thinks appropriate. The funds drawn down from the Facility shall be used strictly for (i) acquisition of recognised insurance companies and/or projects worldwide, particularly insurance companies and/or projects in the Asian regions (including Singapore etc.), European regions (including the United Kingdom etc.) and Northern American regions (including the United States etc.) (the “Proposed Acquisitions”); or (ii) provision of financial assistance to Target Insurance Company, Limited (the “Subsidiary”), being a wholly owned subsidiary of the Group. On the date of signing of the Facility Agreement of 24 February 2022, the Company has notified the Insurance Authority (the “IA”) in respect of the matters regarding the Facility Agreement and the Proposed Acquisitions (the “Notice to IA”) in compliance of the undertaking given by the Company to the IA, under which the notice period shall be not less than 60 days or shorter period as the IA may allow. Unless the Company receives the consent from the IA for shorter notice, the drawdown of the Facility will not take place earlier than 60 days after the date of the Notice to IA. No binding agreement has been entered into in respect of the Proposed Acquisitions. Unless the Company receives the consent from the IA for shorter notice, the Company is unable to proceed with any Proposed Acquisitions within 60 days after the date of the Notice to IA. Further announcement(s) will be made by the Compa...
Terms of the Facility. The Pledgor/s agrees to borrow from the Bank and the Bank agree to lend to the Pledgor/s the facility particularly mentioned in Schedule I (d) hereto.
Terms of the Facility. 1.1 Borrower(s)’s Warranty, Undertaking & Declaration
Terms of the Facility. AMOUNT The Borrower agrees to borrow from the Company and the company agree to lend to the Borrower the facility particularly mentioned in Schedule I (d) hereto.
Terms of the Facility
