Contra Arrangements definition
Contra Arrangements means "contra" arrangements of the type described in clause 12.3 of the Partnership Deed; "Contra Value" has the meaning given to it in clause 5.1(b) "Effective Date" means the date of this Deed; "Existing Debt" means the outstanding aggregate indebtedness of the Partnership to Carlton and Granada and their Affiliates being £1,900,000 as at the Effective Date; "Fair Value" means a rate no less favourable than the rate that would have been charged had Carlton or Granada (as the case may be) been a normal third party customer of the Partnership; "Loan Drawdown Amount" means any sum drawn down by the Partnership from the Loan Facility as at the Effective Date and any interest and bank charges which accrue thereon; "Loan Facility" means the loan facility made available to the Partnership by Barclays; "Partnership Agreements" means the Partnership Deed and the Supplemental Partnership Deed; "Partnership Business" means the business activities of the Partnership as such activities have and do develop from time to time and as the same have been and are carried on by the Partnership or may be carried on under the ownership of one or more AJ Company from time to time; "Partnership Deed" means the agreement dated 4 December 1999 between AJJ, CGIL, AJI, Carlton and Granada for the creation of the Partnership; and "Supplemental Partnership Deed" means the agreement dated 16 June 2000 between AJJ, CGIL, AJI, Carlton and Granada amending the Partnership Deed and recording certain additional agreements between the parties regarding the Partnership.