Araco definition
Examples of Araco in a sentence
On 17 December 2018, AACL (as lender), Araco (as borrower), Brightex (as corporate guarantor) and Mr. Xuan (as personal guarantor) entered into the 2018 Facility Agreement pursuant to which, AACL advanced a loan in the principal amount of HK$360,000,000 (the “Loan”) to Araco.
On 3 January 2019, Araco executed a share charge to create a charge over 300,000,000 Shares (the “Charged Shares”) owned by it in favour of AACL as security.
If AACL does not exercise the Exchange Right before 31 December 2023, Araco shall repay the Loan together with all outstanding amounts under the finance documents (including the 2018 Facility Agreement) in full on 31 December 2023.
Xuan unconditionally and irrevocably guarantees, as principal obligor and not merely as a surety, to the ACP Holders the performance of the obligations of Araco and Brightex Enterprises under this Agreement.
AACL or Araco shall be deemed to waive the AACL Tag Along Right or Araco Tag Along Right, as the case may be, if it fails to give the Tag Along Notice during the Sale Period.
Upon the request by the AACL Araco shall cause the Transferee to confirm in writing that the consideration as indicated in the documents related to the Transfer has reflected the total consideration as required to be paid by the Transferee to Araco for the Transfer.
Brightex Enterprises unconditionally and irrevocably guarantees, as principal obligor and not merely as a surety, to AACL the performance of the obligations of Araco under this Agreement.
Upon the request by Araco, AACL shall cause the Transferee to confirm in writing that the consideration as indicated in the documents related to the Transfer has reflected the total consideration as required to be paid by the Transferee to AACL for the Transfer.
During the Sale Period, if AACL chooses to exercise its AACL Tag Along Right or Araco chooses to exercise Araco Tag Along Right, AACL or Araco, as the case may be, shall deliver to the Transferring Shareholder a written notice to exercise the Tag Along Right (the “Tag Along Notice”), in which it shall indicate the number of CAG Shares subject to the Tag Along Right.
If Araco fails to perform or observe its obligations under this Agreement in full and on time, Brightex Enterprises must immediately on demand from AACL perform such obligation (or procure the performance or observe by Araco of its obligation) so that the same benefit shall be received by or conferred on AACL that it would have received or enjoyed if such obligation had been duly performed or observed by Araco under this Agreement.