CLNG definition
Examples of CLNG in a sentence
Upon the request of CLNG Finance, Customer A shall provide other guarantees in favour of CLNG Finance to the satisfaction of CLNG Finance.
The entering into of the Finance Lease Master Agreement was part of the ordinary and usual course of business of CLNG Finance which will enable CLNG Finance to earn a sizeable aggregate finance lease income and handling fee.
Pursuant to a guarantee agreement entered into between CLNG Finance, Party A, Guarantor C and Guarantor D on 5 April 2016, Party A, Guarantor C and Guarantor D have provided a guarantee in favour of CLNG Finance for all amounts payable by Customer A to secure the obligations of Customer A under the finance lease agreement entered into between CLNG Finance and Customer A dated 5 April 2016.
The Board is pleased to announce that on 21 December 2015, the Group entered into a series of agreements for the formation of five joint ventures with Dynagas and CLNG through the five JV Companies, each of which is party to a Shipbuilding Contract and party to a Time Charter in respect of an Arctic LNG carrier.
As the Finance Lease Arrangement and the Previous Finance Lease Arrangements were made by the parties within a 12-month period and the Finance Lease Agreement and the Previous Finance Lease Agreements were both entered into by CLNG Finance, a wholly-owned subsidiary of the Company, with the same customer, namely Customer A, the Finance Lease Arrangement and the Previous Finance Lease Arrangements will be aggregated as a series of transactions pursuant to Rule 14.22 of the Listing Rules.
The Finance Lease Agreement and the Previous Finance Lease Agreements were part of the ordinary and usual course of business of CLNG Finance which will enable CLNG Finance to earn an aggregate finance lease interest income of approximately RMB1,826,000 (equivalent to approximately HK$2,191,200) (including value added tax) payable by Customer A to CLNG Finance under the Finance Lease Agreement and the Previous Finance Lease Agreements.
Although the ownership of the Previous Lease Assets shall be transferred to CLNG Finance as lessor as part of the Previous Finance Lease Arrangements, the Previous Lease Assets are treated as security of the Previous Finance Lease Arrangements and Customer A may continue to utilise the Previous Lease Assets during the Previous Lease Periods.
Pursuant to a guarantee agreement entered into between CLNG Finance, Guarantor A, Guarantor B and Party A on 14 September 2016, Guarantor A, Guarantor B and Party A have provided a guarantee in favour of CLNG Finance for all amounts payable by Customer A to secure the obligations of Customer A under the Finance Lease Arrangement.
Pursuant to the finance lease agreement entered into between CLNG Finance, Customer A and Pledgor on 15 December 2015, the Pledgor has provided a guarantee in favour of CLNG Finance for all amounts payable by Customer A to secure the obligations of Customer A under the finance lease agreement dated 15 December 2015.
On the same day, each of Dynagas and CLNG also entered into similar guarantees in favour of Yamal on substantially the same terms except for the percentage guaranteed by each of Dynagas and CLNG (which are pro rata to their respective shareholdings in JV Companies).