Specific performance obligations of each beneficiary Each beneficiary shall:
Specific performance obligations. Pursuant to the terms of the Facility Agreement, a “change of control” occurs if (A) the Facility A Borrower ceases to directly or indirectly hold, legally and beneficially: (1) more than 50 per cent. of the issued share capital of the Company; (2) issued share capital having the right to cast more than 50 per cent. of the votes capable of being cast in general meetings of the Company; or (3) the right to determine the composition of the majority of the board of directors or equivalent body of the Company; or (B) the Facility A Borrower ceases to have power to manage or direct the Company through ownership of share capital, by contract or otherwise (a “Change of Control”). As at the date of this announcement, the Facility A Borrower owns approximately 66.16 per cent. of the issued share capital of the Company and is a controlling shareholder (as defined in the Listing Rules) of the Company. If a Change of Control occurs, the Facility A Borrower shall promptly notify the Lender and the Lender may, by not less than three business days’ notice to the Borrowers, cancel the entire Facility and declare all outstanding loans of the Facility, together with accrued interest, and all other amounts accrued under the Finance Documents (as defined in the Facility Agreement) immediately due and payable. The Company will continue to make relevant disclosure under its subsequent interim and annual reports pursuant to Rule 13.21 of the Listing Rules as long as circumstances giving rise to the obligations under Rule 13.18 of the Listing Rules continue to exist. By order of the Board China Development Bank International Investment Limited BAI Zhe Chairman Hong Kong, 26 August 2015
Specific performance obligations. Pursuant to the Facility Agreement, default (the “Default”) will be triggered if any default events occurred, including breach of any one of the following loan undertakings, among others:
Specific performance obligations. The RESIST CMS Beneficiary shall: make sure that the work is carried out as described in Xxxxx X; ensure that the tasks assigned to it are correctly and timely performed; carry out the service in accordance with fundamental ethical principles; take every necessary precaution to avoid any risk of conflict of interest relating to economic interests, political or national affinities, family or emotional ties or any other interests liable to influence the impartial and objective performance of the Service.
Specific performance obligations
