Shareholder Loan definition

Shareholder Loan means any shareholder loan to the Borrower that:

Shareholder Loan means any loan raised by Holdco or a Restricted Subsidiary from its current or previous direct or indirect shareholders (excluding Holdco and other Restricted Subsidiaries), if such shareholder loan (a) according to its terms and pursuant to an Intercreditor Agreement, is subordinated to the obligations of the Obli- gors under the Finance Documents, (b) according to its terms have a final redemp- tion date or, when applicable, early redemption dates or instalment dates which occur after the Final Redemption Date and according to its terms yield only payment-in-kind interest or where payment of principal and interest can only be made under Clause 10.1 (Distributions).

Shareholder Loan means any unsecured loan made in cash to the Company by any of its shareholders (excluding, for the avoidance of doubt, any Senior Secured Note acquired by any such shareholder) which is (i) subordinated pursuant to the terms of the Intercreditor Agreement or otherwise to the satisfaction of the Agent (acting on the instructions of the Majority Lenders acting reasonably) and (ii) subject to the Transaction Security, which in any event is not prohibited under the undertakings contained in Schedule 15 (Incurrence Covenants Schedule).

Examples of Shareholder Loan in a sentence

• REASONS FOR THE LOAN CAPITALISATION AND THE SUBSCRIPTIONS The Company considers that the Loan Capitalisation is conducive to strengthening the financial position of the Group and beneficial to the Company and its Shareholders as a whole as it allows the Company to settle substantial portion of the Shareholder Loan, without utilising the existing financial resources of the Group which could in lieu be retained for other suitable investment opportunities with positive return prospect.

• The purpose of the Shareholder Loan is for future investment of the Group.

• Pursuant to the shareholder loan agreement dated 10 December 2021 entered into between Chunda and the Company, the Shareholder Loan is an unsecured loan bearing an interest rate of 2.5% per annum, and the principal amount is HK$1,500 million.

• As at the Latest Practicable Date, the outstanding principal amount of the Shareholder Loan was HK$1,500 million.

• Having adjusted for the investments utilising the proceeds from the November 2021 Subscription and the Shareholder Loan, and the recognition of the Shareholder Loan prior to the Completion of the Loan Capitalisation and the Subscriptions, the adjusted current ratio would be approximately 2.40.

More Definitions of Shareholder Loan

Shareholder Loan means a loan made by a Vessel Sponsor to the Borrower to finance part of the Project Cost;

Shareholder Loan means any loan made or to be made to a member of the Group by or on behalf of a Shareholder and any other indebtedness owing on loan account by a member of the Group to a Shareholder.

Shareholder Loan means the amount of funds loaned to the Company by a Shareholder from time to time, the initial amount of which is set out in Schedule “A”;

Shareholder Loan means any shareholder loan granted or to be granted to the Issuer by its shareholder(s), with terms (including aggregate amount) and final structure acceptable to the Bond Trustee (acting in their sole discretion), inter alia to ensure that (i) such loan is fully subordinated to the Bonds, and (ii) any repayment of, or payment of interest under, any such loan is subject to all present and future obligations and liabilities under the Bond Issue having been discharged in full.

Shareholder Loan means the loan owing by the Company to the Seller on Completion, the outstanding amount of which is, at the date of this Agreement, HK$[552,432,353].

Shareholder Loan means a subordinated interest free loan by a Shareholder or its Affiliate to a Company pursuant to a Shareholder Loan Agreement;

Shareholder Loan is defined in the sixth recital.