THE FINANCIAL ASSISTANCE Sample Clauses

THE FINANCIAL ASSISTANCE. Based on the findings of the Board, it was unraveled that on 23 August 2017, a ‘‘Comprehensive Credit Line Contract’’ (the ‘‘Comprehensive Credit Line Contract’’) was executed by Xx. Xxx, purportedly acting for and on behalf of Tenwow Food (Group) Co., Ltd. (天喔食品(集團)有限公司) (‘‘Tenwow Food’’), an indirect wholly- owned subsidiary of the Company, with Ningbo Tongshang Bank (寧波通商銀行) (the ‘‘Loan Bank’’) without the knowledge of the executive Directors (including Xx. Xxxxx Xxx Xxxx and Ms. Xx Xxx Xxxx), the non-executive Directors and the independent non- executive Directors at the relevant time. It was also not reported in the annual report of the Company for the year ended 31 December 2017. Pursuant to the Comprehensive Credit Line Contract, the Loan Bank loaned RMB450,000,000 (the ‘‘Credit Line’’) to Tenwow Food for a term from 23 August 2017 to 23 August 2018 and Tenwow Food agreed to allow Shanghai Tiansheng Warehouse Co., Ltd. (上海天盛倉儲有限公司) (‘‘Tiansheng Warehouse’’), (a wholly- owned subsidiary of Nanpu (Hong Kong) Investments Limited (南浦(香港)投資有限公司), which is in turn owned by Xx. Xxx Xxxxxxx as to more than 30%), to use the Credit Line (the ‘‘Financial Assistance’’). Also, as per the Comprehensive Credit Line Contract, upon the triggering of any event of default, the Loan Bank has the right to directly recover all the loans (including contingent liabilities, interest, penalty interest and compound interest) from Tenwow Food and the realization of the cost of the Loan Bank’s rights (including but not limited to litigation costs, attorney fees, notary fees, enforcement fees, etc.), the other losses and expenses incurred by Xxxxxxxxx Warehouse. Pursuant to the default terms of the Comprehensive Credit Line Contract, the Loan Bank has the right to debit directly from Tenwow Food’s account to settle all the debts incurred under the Comprehensive Credit Line Contract without the need to obtain prior consent of Tenwow Food. Relationship between Xx. Xxx and Tiansheng Warehouse Xx. Xxx is a controlling shareholder and a connected person of the Company who is interested in approximately 64.62% of the entire issued share capital of the Company. Based on the information available to the Company, Tiansheng Warehouse is a wholly- owned subsidiary of Nanpu (Hong Kong) Investments Limited (南浦(香港)投資有限公司), which is in turn owned by Xx. Xxx Xxxxxxx as to more than 30%, hence, it is an associate of Xx. Xxx and therefore a connected person of the Company. Accordingly, the enteri...
Sample 1
AutoNDA by SimpleDocs
THE FINANCIAL ASSISTANCE. The Company, through its subsidiaries, is principally engaged in hotel ownership business undertaken through Regal REIT, hotel operation and management businesses, asset management of Regal REIT, property development and investment, including those undertaken through the joint venture in P&R Holdings and the interest in the retained houses in Regalia Bay in Xxxxxxx, and other investments including financial assets investments, and aircraft ownership and leasing business. P&R Holdings is owned as to 50% by each of the Paliburg Group and the Group and is a 50%-owned joint venture of the Company. It is principally engaged in the development of real estate projects for sale and/or leasing and the undertaking of related investment and financing activities including the acquisition or making of any investments (directly or indirectly) in the securities of or interests in, or extending loans to, any private, public or listed corporations or undertakings that have interests in real estate projects or other financial activities where the underlying assets or security comprise real estate properties. The Financial Assistance (consisting of the Guarantees and the Proposed Further Funding) as well as the equivalent financial assistance provided or to be provided by the Paliburg Group to the P&R Group is for the development of its businesses as stated in the preceding paragraph. The Directors consider that the terms of the Financial Assistance are fair and reasonable and in the interests of the Company and its shareholders as a whole.
Sample 1
THE FINANCIAL ASSISTANCE. As security under the loan agreement, Xxxx Xxxx Real Estate has entered into the Charge. Details of the Charge are as follows: Date 5 January 2011 Parties
Sample 1

Related to THE FINANCIAL ASSISTANCE

  • Financial Assistance Subject to the terms and conditions contained herein, the Director hereby grants to the Recipient financial assistance, as established in this section, for the sole and express purpose of paying or reimbursing the eligible costs certified to the Director under this Agreement for the completion of the Project.

  • OPWC Financial Assistance Subject to the terms and conditions contained herein, the OPWC hereby agrees to provide to the Recipient financial assistance not to exceed the amount as set forth in Appendix C of this Agreement for the sole and express purpose of paying or reimbursing the costs certified to the OPWC under this Agreement for the completion of the Project (the "Funds").

  • Grant of Financial Assistance Subject to the terms and conditions contained herein, the OPWC hereby grants to the Recipient financial assistance not to exceed the amount, as set forth in Appendix C of this Agreement for the sole and express purpose of paying or reimbursing the costs certified to the OPWC under this Agreement for the completion of the Project.

  • PROVISION OF FINANCIAL ASSISTANCE As authorized by Section 2 of this Agreement for the sole and express purpose of financing the Project defined and described in Appendix A of this Agreement, the estimated costs of which are set forth and described in Appendix D of this Agreement, the OPWC hereby agrees to provide financial assistance, subject to the terms and conditions contained in this Agreement, from the Clean Ohio Conservation Fund which constitutes the proceeds of the Infrastructure Bonds, in an amount not to exceed Thirty-Three Thousand, Four Hundred Dollars ($ 33,400). This financial assistance shall be provided in the form of a grant. APPENDIX D LOCAL SUBDIVISION CONTRIBUTION, PROJECT FINANCING AND EXPENSES SCHEME AND DISBURSEMENT RATIO

  • Disbursement of Financial Assistance Unless a different disbursement method is specified in that line of Exhibit C, “Financial Assistance Award,” OHA will disburse the financial assistance awarded for A&D 66 Services provided under a particular line of the Financial Assistance Award to County in substantially equal monthly allotments during the period specified in that line of the Financial Assistance Award, subject to the following:

  • PROVISION OF FINANCIAL ASSISTANCE GRANT As authorized by Section II of this Agreement for the sole and express purpose of financing the Project defined and described in Appendix A of this Agreement, the estimated costs of which are set forth and described in Appendix D of this Agreement, the OPWC hereby agrees to provide financial assistance, subject to the terms and conditions contained in this Agreement, from the State Capital Improvements Fund which constitutes the proceeds of the Infrastructure Bonds, in an amount not to exceed One Hundred Four Thousand, Two Hundred Seventy-Four Dollars ($104,274). This financial assistance shall be provided in the form of a Grant. The OPWC Grant Control No. is CI40S. Once this grant amount is fully expended, the loan amount, which is part of this Project Agreement, will be drawn on for disbursing the remaining OPWC obligations contained in this Agreement. An exception applies if the loan amount is necessitated for the local share. In which case, grant and loan assistance will be disbursed concurrently. LOAN

  • Mutual Assistance Each party shall assist the other in complying with all applicable requirements of the Data Protection Legislation. In particular, each party shall:

  • Legal Assistance The Board shall give full support including legal and other assistance for any assault upon the employee while properly acting in the discharge of his/her duties.

  • Additional Assistance The Borrower shall provide such cooperation, information and assistance, and prepare and supply the Administrative Agent with such data regarding the performance by the Issuing Insurance Companies of their obligations under the Pledged Policies and the performance by the Borrower of its obligations under the Transaction Documents, as may be reasonably requested by the Administrative Agent from time to time.

  • Educational Assistance To qualify for reimbursement, an employee must be a regular employee upon enrollment. To be approved, the courses described below must be related to the employee's present position or career development:

Time is Money Join Law Insider Premium to draft better contracts faster.