SARB Approval definition

SARB Approval means the approval, statement of no objection or equivalent decision or statement of the South African Reserve Bank, in accordance with the exchange control regulations of the Republic of South Africa, with respect to the acquisition by the Purchaser of all of the issued Common Shares (other than securities owned by the Guarantor or its affiliates) in accordance with the Arrangement.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

SARB Approval means the approval from the South African Reserve Bank for the purposes of acquiring Subscription Shares (as defined below) by the Acquirer pursuant to the terms and conditions specified in the Term Sheet and the Underlying Transaction (as defined below);

SARB Approval has the meaning attributed to that term on Schedule C;

Examples of SARB Approval in a sentence

With respect to the SARB Approval, the Purchaser or an affiliate thereof shall prepare and submit to the South African Reserve Bank an application within ten (10) Business Days after the date hereof.
If, at any time during the Option Period, GFBV, in its reasonable opinion, is of the view that SARB is likely to amend the conditions of the SARB Approval, GFBV will, if it deems necessary, at the time, approach SARB in order to obtain an amended approval from SARB, or to modify the conditions of the SARB Approval so that it is consistent with the terms of this Agreement.
The Parent shall use all reasonable endeavours to obtain within three months of the date of this Agreement the approval (the "SARB Approval") from the Financial Surveillance Department of the South African Reserve Bank ("SARB") for Frigoglass South Africa Proprietary Limited to accede as a Guarantor and to provide the Security contemplated in paragraph (b) below.
All necessary shareholder and regulatory approvals (including SARB Approval) will be obtained as part of the DRDIOM Reorganisation.

More Definitions of SARB Approval

SARB Approval means the provision of all clearances, approvals or authorizations (whether formal or otherwise) by the South Africa Reserve Bank which are necessary for GFA to close the Transaction;

SARB Approval means the approval of the South African Reserve Bank as required under the exchange control regulations promulgated under the South African Currency and Exchanges Act, No. 9 of 1933, in connection with this Agreement and the transactions contemplated hereby and the consent of the South African Reserve Bank to the implementation of this Agreement.

SARB Approval has the meaning attributed to that term on 7.1(b);

SARB Approval means the exchange control approval by the Exchange Control Department of the South African Reserve Bank in respect of the transactions contemplated under the Finance Documents.

SARB Approval means the approval of the Financial Surveillance Department of the South African Reserve Bank.

SARB Approval means SARB providing in writing and in accordance with all applicable Laws any and all exchange control approvals required in terms of the Exchange Control Regulations made in terms of the Currency and Exchanges Act No. 9 of 1993 of South Africa, as amended and all directive and rulings issued thereunder, for the Parties to enter into and perform their respective obligations under the Arrangement Agreement and complete the Arrangement, which such approval was obtained by Gold Fields on July 22, 2022.

SARB Approval means the conditional approval of SARB, dated 06 January 2006, granted to GFBV, as amended by the letter from SARB dated 12 January 2006 in connection with the transactions contemplated in this Agreement;