Maseve definition
Examples of Maseve in a sentence
Maseve is not under any obligation to make any alterations, repairs or additions to the Sale Properties or to any buildings or erections thereon.
In the event of termination of this Agreement pursuant to clause 20.1 by Maseve, PTM (RSA), the Purchaser or RBPlat, written notice thereof shall forthwith be given to the other Parties, and this Agreement shall terminate, and the purchase of the Plant Business hereunder shall be abandoned, without further action by Maseve, PTM (RSA) or the Purchaser.
The Purchaser may also, subject to all applicable Laws, require Maseve to take such steps, at the Purchaser’s cost, as the Purchaser reasonably requires to assist the Purchaser with the integration of the Plant Business within its group from the Closing Date to achieve an effective and orderly transition and continuance of the Plant Business.
There exist no options, warrants, purchase rights, or other contracts or commitments that could require the Corporation to sell, transfer or otherwise dispose of any shares of any Material Entity except as contemplated by the Maseve Sale Transaction, the Waterberg Call Option Agreement, the Sprott Term Sheet, the PPA Termination Agreement, the Convertible Notes, the Note Indenture and the Liberty Facility.
The Parties hereby agree, that upon written notification from the Conveyancers that the registration of the Transfer of the Sale Properties is imminent, the Purchaser shall, prior to the Conveyancers effecting Transfer, pay the amount referred to in clause 9.1.2 into the trust account of the Conveyancers to be held in trust pending Transfer of the Sale Properties, and to be paid across to Maseve on the Closing Date against Transfer.
In consideration for the Purchaser agreeing to this, PTM (RSA) hereby indemnifies the Purchaser and holds it harmless against any loss or damage of whatsoever nature which may be sustained or incurred by the Purchaser as a result of the provisions of section 34 of the Insolvency Act being invoked by any creditor of Maseve.
Maseve has notified the Purchaser of all material insurance claims which have been made by Maseve and are still outstanding as at the Signature Date, including the claim in respect of two Sandvik single boom drill rigs that sustained water damage, with a total repair cost and concomitant insurance claim (which has been lodged) of approximately ZAR3,300,000.
There is no outstanding guarantee, indemnity, suretyship or other security given by Maseve in respect of the Plant Business, other than the rehabilitation guarantee provided to the DMR, and the guarantees given to Eskom Limited in relation to the electricity supply contracts as disclosed in the Due Diligence Investigation.
Any terms and/or conditions applicable to any such governmental approvals have been and are complied with by Maseve, its Affiliates and their directors, officers, employees and representatives, and Maseve has no knowledge of any reason, and there is no reason why, any governmental approval should be suspended, cancelled, revoked, varied, limited or subjected to the imposition of conditions or further conditions.
Maseve is private company in which PTM (RSA) holds 82.9% (eighty two point nine per cent) and Africa Wide holds the remaining 17.1% (seventeen point one per cent) of the issued shares.