KBH definition
Examples of KBH in a sentence
Heavy Commercial is defined as (I) commercial refrigeration equipment greater than 25 tons; or, (II) commercial HVAC equipment greater than 25 tons, 75 HP, 1000 LBS, 10000 CFM, 300000 BTU/H, 300 KBH, 500 Gallons, or 95 kW.
The IDC and KBH are desirous of purchasing 57% (fifty seven per cent) and 3% (three per cent), respectively, of the issued share capital of the Company and CCGR is desirous of selling 57% (fifty seven per cent) of the issued share capital of the Company to the IDC and 3% (three per cent) of the issued share capital of the Company to KBH, in terms of the Share Purchase Agreement.
KBH shall mail to the Client all documents in its possession or control concerning the Client, as the Client shall request.
Payment shall occur by offsetting CGR’s claim against ERPM against CGR’s indebtedness to ERPM under the KBH Loan.
KBH wishes to invest R68 027 000 (sixty eight million and twenty seven thousand Rand) in the Company by subscribing for 4 794 889 (four million seven hundred and ninety four thousand and eight hundred and eighty nine) Ordinary Shares, and the Company is willing to allot and issue to KBH 4 794 889 (four million seven hundred and ninety four thousand and eight hundred and eighty nine) Ordinary Shares, on the terms and subject to the conditions set out in this Agreement.
The Client agrees to furnish to KBH truthful and accurate information in all material respects.
KBH agrees to subscribe for, and the Company agrees to allot and issue to KBH, the Subscription Shares for a cash subscription price of R68 027 000 (sixty eight million and twenty seven thousand Rand), with effect from the Subscription Date and in accordance with the terms and subject to the conditions of this Agreement.
If IDC ceases to be a Shareholder, as soon as reasonably possible after the event, the Board shall be reconstituted so that it comprises 3 (three) KBH Directors and 2 (two) CCGR Directors appointed by the remaining Shareholders in terms of this clause 10.2.
Any KBH Director or CCGR Director who is absent from any meeting may nominate any other KBH Director or CCGR Director, as the case may be, to act as his alternate and to vote in his place at the meeting.
Accordingly, the Parties agree with each other that KBH shall, at all times, have the right to repay to the IDC, the IDC Loan on behalf of the Company subject to the provisions of this clause 7 and the Company shall be deemed to have discharged all its obligations to the IDC in this regard upon such repayment of the IDC Loan.