Previous Loans definition
Examples of Previous Loans in a sentence
Based on Lender's prior experience in connection with the Previous Loans, Lender has determined in the exercise of its discretion that it is unable to work with ▇▇.
As the borrowers of the Loans are associated with each other (details of their relationship are set out in the section headed “Information on the Customers” in this announcement), the grant of the New Loan and the Previous Loans shall be aggregated under Rule 14.22 of the Listing Rules.
As certain applicable percentage ratios in respect of the Loans are more than 5% but less than 25% under Rule 14.07 of the Listing Rules, the grant of the New Loan and the Previous Loans constitutes a discloseable transaction for the Company under Chapter 14 of the Listing Rules and is therefore subject to the reporting and announcement requirements under the Listing Rules.
Subject to the terms and conditions set forth in this Agreement, the Borrower and each of the Lenders agree that on the Closing Date but subject to the satisfaction of the conditions precedent set forth in Section 4.1 and 4.2, as applicable, the Previous Loans shall be reevidenced as Revolving Loans under this Agreement and the terms of the Previous Loans shall be restated in their entirety.
It is further acknowledged that the proceeds of the Loan shall not be used for the repayment of the Previous Loans extended by JKM Management Ltd.
As described in the recitals hereto, the initial Loans shall represent a continuation of the Previous Loans.
Further, as the Previous Loans and the Loan are granted to the same borrower within a 12-month period, the grant of the Loan requires aggregation with the Previous Loans under Rule 19.22 of the GEM Listing Rules.
The aggregate loan amounts outstanding under the Loan and the Previous Loans from time to time shall not exceed fifty percent (50%) of the Appraised Value of the Properties and the Prior Properties as determined by Lender during the prior twelve (12) months pursuant to updated Appraisals.
By virtue of the relationship between the parties as elaborated above, the Borrower is a connected person of the Company and accordingly the transactions contemplated under the Loan and the Previous Loans (whether standalone or in aggregate) constitute a connected transaction of the Company for the purpose of Chapter 14A of the Listing Rules.
As one or more of the applicable percentage ratios in respect of the Loan and the Previous Loans in aggregate exceed 5% but all of them are less than 25%, the grant of the Loan and the Previous Loans in aggregate constitutes a discloseable transaction for the Company and is therefore subject to notification and disclosure requirements under Chapter 19 of the GEM Listing Rules.