Automax definition

Automax shall have the meaning ascribed to such term in the preamble of this Agreement. “Borrower” and “Borrowers” shall have the meaning ascribed to such term in the preamble of this Agreement.
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Examples of Automax in a sentence

  • Upon the delivery of the aforesaid guarantee to Automax, (a) an additional management share will be issued to Dalhom and the provisions of section 2.4 above will apply and (b) ▇▇▇▇▇▇’s loan will stop bearing interest.

  • Moreover, as long as Automax did not receive from the company the full initial repayment to Automax, the company will not pay Dalhom, and Dalhom will not receive from the company, any amount in cash, except for payments as stated in section 3.3 below and payments for specific services as stated in section 3.1.2 above.

  • If after the date of signing this agreement there will be any change in ▇▇▇▇▇▇’s representations that are set out in this agreement, then Dalhom will deliver to Automax, as soon as possible after it becomes aware of the change, a written declaration regarding the change that has occurred as aforesaid (hereinafter: ‘the representation update notice’).

  • Accordingly, as long as the initial repayment to Automax has not been paid to Automax in full, every dividend that Dalhom will receive from the company (which in any case will not be paid to Dalhom in cash) will be returned immediately to the company as a repayment of Dalhom’s loan, and this sum will be used to pay the initial repayment to Automax.

  • Automax’s loans will bear identical interest (back to back) to the interest at which Automax will raise the aforesaid amount from its sources of finance, but in any case, the interest will not exceed 5.9% per annum (hereinafter: ‘the interest’).

  • Without derogating from the aforesaid, the company will deliver to Automax (a) audited annual financial statements, no later than sixty days from the end of each calendar year; (b) reviewed quarterly financial statements no later than 30 days from the end of each calendar quarter that has passed; any other information that is required so that Automax can comply with its obligations as a reporting corporation, in such a manner and on such dates as will facilitate compliance as aforesaid.

  • The provisions of the confidentiality agreement of February 16, 2022, between Dalhom and Automax will continue to apply to the parties in connection with any information that will be delivered by one party to the other in connection with this agreement and/or the company and its operations.

  • It is clarified that the conversion of Automax’s loan into a permanent capital note as stated above will not prejudice Automax’s right to receive from the company the complete initial repayment to Automax, before any payment or distribution in cash to the other shareholders out of the company’s profits or its other resources.

  • Automax will be responsible for ensuring that the company complies with the equity requirements in order to receive a main import license from the Ministry of Transport to import Temsa’s buses.

  • Dalhom knows that Automax is entering into this agreement, inter alia, in reliance on ▇▇▇▇▇▇’s representations that are set out in this agreement.