NEDBANK LOAN AGREEMENT CLIENT NO: ITEM NO:
| NEDBANK |
|
CLIENT
NO:
|
ITEM
NO:
|
|
|
2934744
|
0001
|
|||
|
SUBDIVISION
NO:
|
0000
|
Between NEDBANK
LIMITED (BUSINESS
BANKING
("the
bank")
of ▇▇▇▇▇▇
REGIONAL ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ PAARL
7646
("the borrower")
and
CENTURY CASINOS CALEDON (PTY) LTD (199601070807)
of ▇
▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇
whereby
the bank furnishes to the borrower who hereby accepts a loan facility as set
out
in schedule 1 hereto, subject to the terms and conditions herein.
|
SCHEDULE
1
LOAN
AMOUNT
REVENUE
STAMPS
LESS:
INITIAL PAYMENT
PRINCIPAL
DEBT
PLUS
: FINANCE CHARGES TO BE CALCULATED
at
9.000.%P.A.)
3
TOTAL
PAYABLE
|
R
R
R
R
R
R
|
60000000.00
R
0.00
0.00
60000000.00
14785358.40
74785358.40
|
DEBIT
ORDER AUTHORISATION
Authority
is hereby granted to debit my/our account in the name of
currently
at
name
of Bank branch
bank
clearing no account
no
from
time to time in payment of moneys due and payable to the bank in
respect
of this Agreement.
AUTHORISED
SIGNATORIES:
1.___________________________________
2._______________________________
___________________________________
_______________________________
Full
names and designation Full names and designation
DATE:_______________________________
|
|
|
Payable
by 60 payments of R1246422.64 each, the first payment payable on
01/10/2005 and subsequent payments on day 1 of each succeeding month
with
the final payment payable on 01/09/2010.
A
Documentation Fee of R1200.00 (inclusive of VAT) is
payable.
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||||
|
SCHEDULE
2(TWO): SECURITIES
See
annexure B attached hereto for the new
securities.
|
|
1.
SIGNATURE
(BORROWER) s/s ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
for
and on behalf of who warrants that he is duly authorised
thereto
CENTURY
CASINOS CALEDON (PTY) LTD
(Full
names of Borrower)
duly
authorised thereto
|
▇
▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇
PLACE
|
26-08-2005
DATE
|
s/sMorne
Rossouw
WITNESS
Full
name : Mourne Rossouw
Address
:9 Plantasie Strret
Caledon
|
|
2.s/sMourne
Rossouw
SIGNATURE
(BANK)
for
and on behalf of the bank who warrants that he is duly authorised
thereto
|
Caledon
PLACE
|
26-08-2005
DATE
|
s/sRicardo
▇▇▇▇▇▇▇
WITNESS
Employee
number ( or full name ):▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇
|
Nedbank
Limited (Business Banking Reg
No. 1951/000009/06
We
subscribe to the Code
of
Banking Practice of the Banking Council of South Africa and, for unresolved
disputes, support resolution through the Ombudsman for Banking
Services.
|
NB94E
15/09/2004 v26
TERMS
AND CONDITIONS
|
CLIENT
NO. : 2934744
ITEM NO. : 0001 SUB
DIVISION NO. 0000
|
1.INTERPRETATION
In
this
agreement, unless the contrary is expressly indicated:
1.1 words
and expressions shall bear the meanings as set out hereunder -
1.1.1 "business
day" shall mean a day which is not a public holiday, Saturday or Sunday in
the
Republic of South Africa;
1.1.2 "finance
charges" shall be calculated by including the first day and excluding the last
day of payment;
1.1.3 “the
commencement date" shall mean the date on which the loan facility is made
available to the borrower by the bank, as set out in schedule 1 hereto;
1.1.4 "material
or materially" shall mean an act or omission or circumstances that may, in
the
bank's sole judgement, prejudice the bank's rights or interests in terms of
this
agreement or any agreement pursuant to this agreement;
1.1.5 “month”
shall mean a period calculated from any specified day to and including the
day
numerically corresponding to such specified day (or, if there shall be no day
numerically corresponding to such specified day, the last day) in the relevant
subsequent calendar month;
1.1.6 "prime
rate" shall mean the nominal annual rate of interest as determined by Nedbank
Limited from time to time;
1.1.7 "the
parties" shall mean, collectively, the bank and the borrower; and
1.1.8 "year"
shall mean a period calculated from any specified day up to and including the
day numerically corresponding to such specified day in the relevant subsequent
year;
1.2 the
headings in this agreement are for convenience of reference only and shall
not
be taken into account in the construction or interpretation thereof;
1.3
words
in singular shall include the plural and vice versa, words in the masculine
gender shall include the feminine and neuter genders and vice
versa.
▇.▇▇▇▇
FACILITY
2.1 The
loan
facility shall be made available to the borrower on the date of compliance
with
clause 3 below.
2.2 The
period of the loan facility is set out in schedule 1 hereto.
2.3 The
finance charge rate quoted in the schedule 1 hereto is variable and linked
to
the Nedbank prime rate.
2.4 The
finance charges and instalments quoted in the schedule 1 hereto shall therefore
be adjusted commensurately with any change in the Nedbank prime rate from time
to time.
2.5 All
finance charge rates relevant to this agreement shall be nominal annual
compounded monthly rates.
▇.▇▇▇▇▇▇▇▇
The
loan
facility shall be subject to the securities set out in schedule 2 hereto having
been furnished
by
the
borrower to the satisfaction of the bank.
4.REPAYMENT
4.1 The
principal debt and finance charges shall be repaid as stipulated in schedule
1
hereto.
| 4.2 |
Should
any amount payable in terms hereof not be paid on the due date or
dates
agreed upon in terms of this agreement, such amount shall (without
diminution of any other rights which the bank may hereby or otherwise
acquire) bear interest at a rate of 5% per annum above the Nedbank
prime
rate, from time to time, calculated as from the due date of payment
to the
date of actual payment.The borrower may effect early repayment of
the
balance outstanding upon written notice to that effect to the bank
and
upon payment of the principal debt and recalculated finance charges.The
date specified in such notice shall be deemed to be the date on which
the
outstanding balance of the principal debt and recalculated finance
charges
thereon shall be paid by the borrower to the
bank.
|
| 4.3 |
Subject
to the borrower not being in breach of this agreement the borrower
will be
entitled to terminate this agreement before expiration.
|
| 4.4 |
In
the event that the borrower makes the election in terms of clause
4.3
above and, if this agreement is subject to the Usury Act, 1968
(Act No 73 of 1968) and the principal debt does not,
on the date
of this agreement, exceed the sum of R250 000,00 (or such other amount
as
may from time to time be prescribed by regulation for the purposes
of
section 3A(2)(a) of the Act), but not otherwise, the borrower is
entitled
to repay the principal debt and finance charges in one amount before
the
due date thereof, provided that -
|
4.4.1
the borrower gives the bank 90 (ninety) days' written notice (or such longer
period as may be prescribed by regulation for the purposes of section 3A of
the
Act) of the borrower's intention to do so;
4.4.2
such notice shall not be given prior to 90 (ninety) days after the date of
this
agreement;
4.4.3
such notice shall state the date on which the borrower intends to pay the
outstanding balance and finance charges in one amount; and
4.4.4
should such notice be given by the borrower, the date stated by the borrower
as
that on which payment will be made will be deemed to be the date on which the
outstanding balance of the principal debt and finance charges thereon shall
be
paid.
5.LEGISLATION
Should
there be any change in South African or foreign law, including but not limited
to, any change in the rate calculation, method or nature of taxation or
deduction or allowance in respect of the bank's income in terms of tax
legislation, or any increase in the prudential requirement of the bank in terms
of the Banks Act or the regulations thereunder, which would increase the costs
to the bank in terms of this facility, then the bank shall be entitled, on
each
occurrence of any of the aforesaid events and without prior notice to the
borrower, to increase the finance charge rate applicable hereto with such an
amount so as to place the bank in the same financial position as it would have
been had the said events not occurred.
6.BREACH
6.1 The
loan
facility shall become immediately due and payable on the occurrence of any
one
of the following events, each of which shall be severable and distinct from
the
other of them:
6.1.1 the
borrower commits an act similar to an act of insolvency as defined in the
Insolvency Act of 1936 (as amended) or an act defined in terms of section 344
of
the Companies Act of 1973 (as amended); or
6.1.2 the
borrower is unable or ceases for any reason whatsoever to conduct its normal
line of business in an ordinary and regular manner; or
6.1.3 the
borrower commits a breach of any of the terms and conditions of this agreement
including but not limited to, non-compliance with clause 7 of this agreement,
or
any other agreement or instrument pursuant to this agreement; or
6.1.4 any
material asset of the borrower is attached under writ of execution; or
6.1.5 the
borrower disposes of a material portion of its undertakings or assets or changes
its asset structure, except in the normal course of business, or the value
of
the borrower's assets is materially reduced; or
6.1.6 the
borrower is voluntarily or compulsorily placed under judicial management or
is
wound up or enters into a compromise, composition or arrangement with its
creditors, or any class thereof; or
6.1.7 the
ultimate beneficial control of the borrower changes during the period of the
loan facility; or
| 6.1.8 |
a
material change in the financial condition of the borrower occurs
subsequent to the date of its last audited financial statements and
such
change will, in the opinion of the bank's auditors, prevent or aggravate
the borrower's ability to perform or observe its obligations in terms
of
this agreement; or
|
| 6.1.9 |
the
borrower breaches any other agreement with the bank;
or
|
6.1.10any
material indebtedness or obligation for any loans, constituting indebtedness
of
the borrower becomes due and payable prior to its specified maturity by reason
of default or is not paid when due.
6.2. Should
such event be incapable of remedy or should the borrower fail to remedy or
procure the remedy of the same within the time period thus provided, in the
case
of non-payment of any amount within 7 days, or in the case of any other
remediable breach within 21 days (or such longer period as may be agreed between
the parties), in each case after receipt of written notice from the bank calling
for rectification thereof, then the bank shall be entitled, without derogating
from any other right which the bank may hereby or otherwise require, to:
| 6.2.1 |
claim
immediate repayment of all or any amounts owing under this agreement
or
from whatever other cause arising in connection therewith, all of
which
amounts shall immediately become due and payable and all such amounts
shall bear interest at a rate of 5% per annum above the Nedbank prime
rate
calculated as from the date of default or non-payment to the date
of
actual payment; and/or
|
| 6.2.2 |
in
its sole discretion, review and amend the terms and period of the
loan
facility; and/or
|
| 6.2.3 |
apply
any amount whatsoever standing to the credit of the borrower in the
books
of the bank, in payment of the loan facility or costs or finance
charges
due in terms of this agreement.
|
6.3. Without
prejudice to any other provision of this agreement, the borrower hereby
indemnifies the bank against any loss or expense the bank may reasonably sustain
or incur, including costs as between attorney and own client, as a consequence
of the failure by the borrower to pay, when due, any principal repayment or
any
finance charges on the loan facility or any other amount payable hereunder.
7.UNDERTAKINGS
AND COVENANTS
7.1 The
borrower hereby agrees and undertakes that, until the principal debt plus
finance charges has been repaid in full, the borrower shall:
7.1.1 furnish
the bank with the audited annual financial statements (consolidated, if the
borrower has subsidiaries) and all other financial information with which a
shareholder is entitled to be furnished by the borrower, within 180 days of
the
end of the financial year of the borrower;
7.1.2 maintain
in full force and effect all government, tax, monetary and other approvals
required to enable the borrower to maintain its corporate status to continue
in
its business and affairs;
7.1.3 not
encumber any of its assets, except for existing encumbrances, without prior
written consent of the bank, which consent shall not be unreasonably withheld
if
the encumbrances are in the normal course of business;
7.1.4 immediately
notify the bank of any change in the present shareholding or beneficial
ownership of the borrower, whereupon the bank shall be entitled to review the
terms of the loan facility and, if the bank regards in its sole discretion
the
change to be material, the bank shall be entitled to cancel this agreement;
7.1.5 ensure
that all necessary exchange control approvals have been obtained from the
Reserve bank and complied with.
7.2 The
borrower represents and warrants to the bank that:
7.2.1 it
is a
company duly registered and existing under the laws of the Republic of South
Africa;
7.2.2 it
has
full power to enter into and perform in terms of this agreement and has taken
all necessary corporate and other actions to authorise the borrowings hereunder,
including such steps as may be necessary to comply with the provisions of
Article 60 of Table A or Article 61 of Table B of the Companies Act of 1973
(as
amended), if applicable;
7.2.3 this
agreement constitutes a legal, valid, binding and enforceable obligation of
the
borrower;
7.2.4 no
litigation, arbitration or administrative proceeding is currently in progress
or, to the knowledge of the borrower, pending or threatened against it, or
any
of its assets, which relates in any manner to this agreement or which would
have
a materially adverse effect on the financial condition of the borrower;
7.2.5 it
is
not a party to any agreement materially affecting, or which is likely to
materially affect, its financial condition;
7.2.6 it
has
good title to all its assets which are reflected in its financial statements
or
has not sold or otherwise disposed of any such assets as reflected in its last
audited financial balance sheet for the last financial year, except in the
ordinary course of business;
7.2.7 its
last
published annual report fairly represents the consolidated financial position
of
the borrower and its subsidiaries, where applicable, and the consolidated
results of their operation for that financial year, and that the said financial
statements have been prepared in accordance with generally accepted accounting
principles in the Republic of South Africa consistently applied, and that the
borrower does not have significant liabilities, present or continued including,
without limitation, liabilities for taxes or material forward or long term
commitments which are not disclosed or provided for in such financial
statements;
7.2.8 there
has been no material adverse change in the financial or other condition of
the
borrower since the date of its last audited financial statements.
7.3 The
borrower shall be deemed on the anniversary of each year after date of signature
of this agreement to represent and warrant that each of the representations
and
warranties is true and accurate on such day and, in addition, that the then
latest accounts of the borrower and its subsidiaries, delivered to the bank
pursuant hereto, fairly represents the financial position of the borrower or
the
consolidated financial position of the borrower and its subsidiaries, as the
case may be.
8.GENERAL
CONDITIONS
8.1 The
bank
shall have the right to allocate any payments by the borrower to it in respect
of the loan facility as to the costs, interest, penalty interest and capital
in
respect of this agreement in any order and proportion as the bank deems fit.
8.2 All
payments to be made by the borrower hereunder shall be made free and without
deduction of any taxes, charges or costs. If the borrower shall at any time
be
compelled by law to withhold or deduct taxes from any amounts payable to the
bank, the amounts so payable to the bank shall be increased to such extent
that
the net amounts after such withholdings or deductions shall equal the amount
of
interest, capital or any other amount provided for in this agreement.
8.3 No
variation of this agreement shall be of any force and effect unless reduced
to
writing and signed by the parties or their authorised agents. This agreement
supersedes and replaces all previous agreements between the parties with respect
to the loan facility.
8.4 No
relaxation or indulgence which either party may show to the other shall in
any
way prejudice or be deemed to be a waiver of its rights in terms hereof or
be a
novation of this agreement.
8.5 Save
where the borrower has opened an associated transaction account, this agreement
is the whole agreement between the parties and no variation shall be of any
force or effect unless agreed to by the bank in writing. Where the borrower
has
opened an associated transaction account the finance charge rate to be applied
during any month in respect of which the terms and conditions applicable to
such
associated transaction account have application, will be the rate derived from
the undermentioned formula, namely:
Cx(1-Yx(A/B))
Where:-
A
=
transaction account average daily balance for the previous month.
B
= the
present value of the outstanding instalments at the time of calculating this
finance charge rate.
C
=
variable finance charge rate otherwise applicable under this agreement in
respect of the month in question.
Y
=
variable bank margin factor, which may be adjusted from time to time by
agreement between the parties.
Any
such
transaction account shall only come into effect upon compliance with clause
3
above.
8.6 Without
prejudice to the bank's right to institute proceedings in a high court having
jurisdiction, the parties agree and the borrower hereby consents to the
jurisdiction of the magistrate's court having jurisdiction over its person
notwithstanding that the cause of action or amount of any claim hereunder might
exceed the jurisdiction of any magistrate's court.
8.7 The
bank
shall be entitled to cede, assign and/or transfer the whole or portion of its
rights and/or obligations in terms hereof to any other financial institution
being a subsidiary of the bank, without the prior consent of the borrower.
8.8 All
reasonable costs of and incidental to the drawing and preparation of this
agreement and the stamp duty of this agreement and on all other documents and
all
costs
which the bank may incur in connection with the enforcement or the preservation
of any of its rights under this agreement, shall be borne and paid by the
borrower.
8.9 For
the
purpose of any litigation, or otherwise, a certificate written and signed by
any
manager of the bank (whose status need not be proven) setting out the amount
of
the borrower's indebtedness to the bank in terms hereof, shall be prima facie
proof of the correctness of the amount owing including, but not limited to,
damages, costs and interest due and owing.
8.10 All
the
provisions of this agreement shall be severable and no provision shall be
affected by the invalidity of any other provision of this agreement.
9.IMPOSSIBILITY
Where,
as a result of vis major, casus fortuitus, an act of God, an act of the State
or
any statutory authority, any statutory provision or the application thereof,
war
or civil unrest or any other act or happening beyond the control of the bank,
the bank finds itself in its sole judgement unable to give effect to any part
of
this agreement, the bank may at its election and without becoming liable for
consequential or any other damages:
9.1 cancel
this agreement by giving written notice to the borrower to that effect, and
demand repayment of the principal debt plus finance charges, recalculated to
the
date of repayment, within 30 days from the date of notice of cancellation;
or
9.2 notify
the borrower of its inability to perform, partially or in full, in terms of
this
agreement and cancel the uncompleted or any other portion of this agreement
and,
if applicable, demand repayment of the cancelled portion of the principal debt
and recalculated finance charges within 30 days from the date of the notice
or
cancellation.
10.DOMICILIA
10.1 The
parties hereby choose as domicilium citandi et executandi, at their respective
addresses in the Republic of South Africa as set out on page 1 of this agreement
.
10.2 Either
party may change its address to any other physical address in the Republic
of
South Africa by notifying the other party to that effect. Such change of address
shall become effective 5 (five) business days after receipt of notice of the
change of address.
10.3 Any
notice between the parties to this agreement shall prima facie be deemed to
have
been duly delivered on the day of hand delivery or on the fourth day after
the
posting of a prepaid registered letter.
Signature:
____s/s_Christian
Gernert__________________________________________________________________________
Nedbank
Limited (Business Banking Reg
No. 1951/000009/06
We
subscribe to the Code
of
Banking Practice of the Banking Council of South Africa and, for unresolved
disputes, support resolution through the Ombudsman for Banking
Services.
DECLARATION
IN TERMS OF THE LONG- AND SHORT-TERM INSURANCE ACTS, 1998
| 1. |
Insurance
|
Declaration
in terms of:
| - |
section
44 of the Long Term Insurance Act, 52 of 1998;
and
|
-section
43 of the Short Term Insurance Act, 53 of 1998.
In
the
event of me/us being required to provide an insurance policy, whether a
long-term or short-term policy, as protection for my/our indebtedness to Nedbank
Limited, Asset Finance Division, I/we understand that I/we am/are entitled
to
either make an existing policy available or to enter into a new policy or
utilise a combination of the options.
I/we
understand that I/we cannot avail myself/ourselves of the entitlements set
out
below when I/we am/are required to make a short-term insurance policy available
as protection for my/our indebtedness to Nedbank Limited, Asset Finance
Division, in relation to a contract in terms of which money is loaned upon
the
security of the mortgage of immovable property.
| 1.1 |
If
I/we elect to enter into a new policy, I/we understand that I/we
am/are
entitled to:
|
(i) choose
both the insurer and the intermediary to render the contemplated
service;
(ii)
in
respect of long-term policies, only effect cover for death and
disability;
| (ii) |
only
effect cover to the value of the
indebtedness.
|
| 1.2 |
If
I/we elect to make an existing policy available, I/we understand
that:
|
| (i) |
I/We
am/are entitled to choose the intermediary to render the contemplated
services;
|
| (ii) |
I/We
need only vary the existing policy to the extent
that:
|
a) in
respect of long-term policies, policy benefits are to be provided in the event
of death and disability of the life insured;
| b) |
the
value of the benefits are not less than the value of the
indebtedness.
|
| 1.3 |
I/We
declare that I/we have been made aware of the following exclusions
if an
automatic settlement benefit (ASB) policy is used as security otherwise
in
conjunction with this agreement:
|
| (i) |
any
preexisting medical condition may invalidate a claim under the
policy;
|
| (ii) |
any
medical condition (excluding minor conditions such as the flu) for
which
I/we have consulted or received treatment from any medical practitioner
or
were hospitalised for treatment or surgery or specialist investigation
during the past two years is specifically excluded from cover for
a period
of two years;
|
| (iii) |
no
benefit will be payable for any claim arising from AIDS or HIV
infection;
|
| (iv) |
no
benefit will be payable if the cause is due to my/our own
actions.
|
| 1.4 |
I/We
authorise the insurer:
|
| (i) |
to
obtain information from any person, who is authorised and requested
to
provide such information, required by the insurer;
and
|
| (ii) |
to
share with other insurers information contained in the finance application
or any related policy or any other document, either directly or through
a
database operated by or for insurers, at any time (even after my
death) in
such a manner as may be decided by the Insurer or the operator of
such a
database.
|
| 1.5 |
I/We,
therefore, declare that I/we:
|
| (i) |
was/were
given this notice of entitlement prior to providing or effecting
the
required insurance policy; and
|
| (ii) |
exercised
freedom of choice in respect of the abovementioned entitlements;
and
|
| (iii) |
was/were
not subject to any coercion or inducement as to the manner in which
I/we
exercised my/our freedom of choice.
|
2. Acknowledgement
I/We
the
undersigned hereby declare that I/we have read and understood the terms and
conditions of the agreement concerned, together with the schedule, and agree
to
abide by the provisions thereof.
|
Signed
at
|
___Caledon_________________________________________________ |
on
|
▇▇ /
|
▇▇ /
|
▇▇▇▇ |
|
(▇▇▇▇▇)
|
(day)
|
(month)
|
(year)
|
|
Witnesses
|
s/s ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ | ||
|
1.
|
s/s Morne Rossouw
|
(Signature)
For
and on behalf of the client, who warrants that he/she is duly
authorised
|
|
|
2.
|
__________________________________________________ | ||
Nedbank
Limited (Business Banking Reg
No. 1951/000009/06
We
subscribe to the Code
of
Banking Practice of the Banking Council of South Africa and, for unresolved
disputes, support resolution through the Ombudsman for Banking
Services.
|
NEDBANK
|
ANNEXURE
A
|
CLIENT
NO:
|
ITEM
NO:
|
|
|
2934744
|
0001
|
|||
|
SUBDIVISION
NO:
|
0000
|
This
Annexure A forms the subject of a Loan Agreement entered into by and
between
CENTURY
CASINOS CALEDON (PTY) LTD (199601070807)
of
▇
▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇
and
Nedbank
Limited (Business Banking
of
▇▇▇▇▇▇
Regional ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ PAARL
7646
Signed
on:_________________26-08-2005____________________________
P
A Y M E N T D E T A I L S
|
No
Of Payments
|
Amount
|
Start
Date
|
Frequency
|
||
|
60
|
1246422.64
|
01/10/2005
|
Monthly
|
||
Your
payment date will be on day 1 of the month.
A
Documentation Fee of R1200.00 (inclusive of VAT) is payable.
Signed
at ▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇ on____26-08_____________year_____2005__
s/s
Mourne
▇▇▇▇▇▇
Witness
for
and on behalf
of:
CENTURY CASINOS CALEDON (PTY) LTD
Signed
at
Caledon
on________26-08_________year____2005___
s/s
▇▇▇▇▇▇▇ Rdcar
▇▇▇▇▇▇▇
Witness
for
and
on behalf of:
Nedbank Limited (Business Banking)
We
subscribe to the Code of Banking Practice of the Banking Council of South Africa
and, for unresolved disputes, support resolution through the Ombudsman for
Banking Services.
ANNEX_E
26/07/2004 v24
ANNEXURE
“ B “ TO A LOAN AGREEMENT BETWEEN NEDBANK LIMITED (COMMERCIAL) (REG NR
1951/000009/06) (“THE BANK”) AND CENTURY CASINOS CALEDON (PTY) LTD (REG.
199601070807) (“THE BORROWER”)
NEW
SECURITIES:
1.
The
Registration of a First covering bond of R60 000 000.00 over:
▇▇▇
▇▇▇▇, ▇▇▇▇▇▇▇ (Extent:
11,5060ha)
▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇ (Extent: 65,7270ha)
▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇ (Extent: 29,8924ha)
▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇ (Extent: 71,6142ha)
▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇ (Extent: 2,6732ha)
▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇ (Extent: 20,9124ha)
▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇ (Extent: 22,6821ha)
▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇ (Extent: 3,6015ha)
2.
The
Registration of a General Covering Notarial Bond over all moveable assets
acceptable to Nedbank, in the amount of R10 000 000.00.
3.
Unlimited Suretyship (including cession of loan funds) by Century Casinos Africa
(Pty) Ltd
(Reg. 199601050107).
4.
Pledge
by Century Casinos Africa (Pty) Ltd (Reg. 199601050107) of 100% of the issued
share capital in Century Casinos Caledon (Pty) Ltd.
5.
Cession of Short term Insurance over property.
6.
It is
a condition precedent to the operation of this agreement that the said security
is provided. No funds will be made available prior to the perfection of all
securities to the satisfaction of Nedbank. Notwithstanding the aforesaid, if
Nedbank advances any funds to any entity forming part of the borrower prior
to
Nedbank being in possession of all the securities required in terms hereof,
any
such funding shall not be regarded as a waiver of ▇▇▇ bank’s rights in obtaining
the required security not yet provided.
7.
The
security will be required as continuing security for all Nedbank facilities
of
which the borrower avails itself from time to time.
………………................................
………… ………………..
…………………………
SIGNATURE
(BORROWER)
PLACE
DATE
WITNESS
for
and on behalf
of
the borrower who warrants that
he
is duly authorised thereto
CENTURY
CASINOS CALEDON (PTY) LTD
……………………........................
………….
………………. ………………………..
SIGNATURE
(BANK) PLACE
DATE
WITNESS
for
and on behalf of the bank
who
warrants that he is duly
authorised
thereto