Examples of Debt Termination Agreement in a sentence
Under the terms of the Black Crane Debt Termination Agreement, the Company will pay a fee of$600,000 for providing support and advice in respect of the structuring and execution of the Capital Raising and for procuring that Black Crane entered the Black Crane Debt Termination Agreement and a fee of $800,000 for procuring Black Crane’s agreement to the Black Crane Sub-Underwriting Commitment (being approximately 4.2% of the Black Crane Sub-Underwriting Commitment and the Black Crane Entitlement).
Under the terms of the Black Crane Debt Termination Agreement, Black Crane has agreed to sub-underwrite up to $15,406,250 being 3,081,250,000 Shares of the Entitlement Offer (Black Crane Sub-Underwriting Commitment).
The aggregate of Mr Hambling’s and Mr Bacopanos’ confirmed participation is 17,666,659 Shares.Under the Black Crane Debt Termination Agreement, which is summarised at Section 9.5, Black Crane has agreed to take up its full Entitlement of 718,750,000 Shares for $3,593,750 and this will occur under the Institutional Offer ( Black Crane Entitlement).
By: /s/ Xxxxxxx Xxxx Name: Xxxxxxx Xxxx Its: President / CFO Exhibit 1 Limited Waiver of Sovereign Immunity Addendum to Debt Termination Agreement among the Shingle Springs Band of Miwok Indians (“Tribe”), Shingle Springs Tribal Gaming Authority (“Authority”) and Lakes KAR-Shingle Springs, LLC (“LKAR”) and joined by the Shingle Springs Band of Miwok Indians (“Tribe”) and Lakes Entertainment, Inc.
Under the Black Crane Debt Termination Agreement (summarised at Section9.5) Black Crane has committed to a maximum sub-underwriting commitment of $15,406,250.
The Board (other than Peter Kennan who abstained because he has a material personal interest) resolved that shareholder approval was not needed to enter into the Black Crane Debt Termination Agreement on the basis that that the terms were agreed on favourable and reasonable commercial terms following an arm’s length negotiation process and accordingly the arm’s length exception pursuant to s210 of the Corporations Act applied.
For further details on the Black Crane Debt Termination Agreement refer to Section 9.5. Based on the number of Shares on issue as at the date of the Prospectus Black Crane has a relevant interest in 31,250,000 Shares representing 12.97% of the Shares on issue.
Inter-segment revenues are eliminated on consolidation and are reflected in the “eliminations” column.
Black Crane will not receive any fee under the Black Crane Sub-Underwriting Agreement however the Black Crane Sub-Underwriting Commitment is an agreed term of the Black Crane Debt Termination Agreement.
On 23 September 2021, the Company entered into a deed of termination, settlement and release with Black Crane and Black Crane Advisors Limited (Black Crane Advisor) (Black Crane Debt Termination Agreement) in respect of agreeing settlement terms regarding the cancellation and redemption of the Loan Notes and repayment of the Settlement Amount (defined below).