Undertaking Period definition
Examples of Undertaking Period in a sentence
During the Undertaking Period, none of the Undertaking Persons or their Affiliates (other than the Beneficiaries) shall receive or be entitled to any portion of the Deposit or, directly or indirectly, cause Ruian to distribute, convey, transfer, assign or otherwise, whether by way of dividend, distribution of capital or other distribution or upon the liquidation or dissolution of Ruian or otherwise, any portion of the Deposit to any Undertaking Persons or their Affiliates (other than the Beneficiaries).
The Performance Undertaking Period in the Assets Restructuring is the three consecutive accounting years after the Completion Date of the Swapped-in Target Assets (including the accounting year of the Completion Date of the Swapped in Target Assets).
The end-of-period impairment of those Performance Undertaking Assets is the consideration for those Performance Undertaking Assets obtained by CCCC or China Urban-Rural in the Assets Restructuring minus the comparable evaluation value of those Performance Undertaking Assets at the end of the period, and deducting the impact from capital increase, capital reduction, gift acceptance and profit distribution within the Performance Undertaking Period.
For the avoidance of doubt, following the aforementioned 2 (two) year period, if Harmony enters into any transaction during the KOSH Undertaking Period for the Disposal of any direct or indirect interest in Wafi-Golpu and such transaction constitutes a Disposal Transaction, the implementation of such transaction must be subject to the aforementioned conditions.
The parties to the Undertaking have also agreed that during the Undertaking Period they will not transfer their loan or convert it into shares without the consent of the other signatories to the Undertaking or at all if it would cause them to hold less than 34% of the then outstanding principal.
If ▇▇▇▇▇▇▇▇▇▇ has cash dividends during the Performance Undertaking Period, the cash dividend income obtained in respect of the Compensation Shares during the Performance Undertaking Period calculated according to the formulae stipulated in this section shall be returned to Qilianshan along with the corresponding Compensation Shares.
The specific compensation arrangements are as follows: The amount to be additionally compensated = The end-of-period impairment of those Performance Undertaking Assets – the accumulated amount compensated by CCCC or China Urban-Rural for those Performance Undertaking Assets during the Performance Undertaking Period.
During the Performance Undertaking Period, the operating revenue of the Project Company shall be the operating revenue measured on an accrual basis according to an audited report with unqualified opinion, and the net profit shall be the after-tax net profit according to an audited report with unqualified opinion.
When the Performance Undertaking Period expires, ▇▇▇▇▇▇▇▇▇▇ will conduct an impairment test on each of the Performance Undertaking Assets and issue an impairment test report, and should hire an audit institution to issue a special audit opinion on the impairment test report.
The Sponsor hereby irrevocably, absolutely and unconditionally agrees, as a primary obligation, to indemnify IIFCL from time to time on demand from and against any loss suffered by IIFCL as a result of any of the obligations of the Sponsor incurred during the Undertaking Period in relation to the Undertaking Amount being or becoming void, voidable, unenforceable or ineffective for any reason whatsoever.