Loan agreement – A Pair Of http://apairof.com/ Thu, 17 Nov 2022 10:12:43 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://apairof.com/wp-content/uploads/2021/10/icon-33-120x120.png Loan agreement – A Pair Of http://apairof.com/ 32 32 Silver Bear Announces Update on its SKA Loan Agreement and Amendments to Facilities Agreement and Third Quarter 2022 Interim Financial Report Filing https://apairof.com/silver-bear-announces-update-on-its-ska-loan-agreement-and-amendments-to-facilities-agreement-and-third-quarter-2022-interim-financial-report-filing/ Fri, 11 Nov 2022 16:19:00 +0000 https://apairof.com/silver-bear-announces-update-on-its-ska-loan-agreement-and-amendments-to-facilities-agreement-and-third-quarter-2022-interim-financial-report-filing/ TORONTO, November 11, 2022–(BUSINESS WIRE)–Silver Bear Resources Plc (“Silver Bear” or the “Company”) (TSX: SBR) provides an update on the amendment to the loan agreement between the Company’s wholly-owned subsidiary, Joint Stock Company Prognoz (“Prognosis“) and SKA Assets Management Limited (“SKA Assets”) (“Modification of the SKA loan agreement“) and the amendment to the Company’s facility […]]]>

TORONTO, November 11, 2022–(BUSINESS WIRE)–Silver Bear Resources Plc (“Silver Bear” or the “Company”) (TSX: SBR) provides an update on the amendment to the loan agreement between the Company’s wholly-owned subsidiary, Joint Stock Company Prognoz (“Prognosis“) and SKA Assets Management Limited (“SKA Assets”) (“Modification of the SKA loan agreement“) and the amendment to the Company’s facility agreement (“AF modification“) after receiving shareholder approval for both amendments at the annual general and special meeting of shareholders of the Company (the “Meeting“) on October 05, 2022.

The Company further announces that it has today filed its unaudited financial statements and MD&A for the three and nine months ended September 30, 2022 (“Q3 2022 Report”). For more details on the Q3 2022 report, please see the Company’s filings on SEDAR (www.sedar.com) or the Company’s website (www.silverbearresources.com).

Modification of the SKA loan agreement

Effective October 6, 2022, amendments to the SKA Loan Agreement have been signed. The Amendment to the SKA Loan Agreement contains certain modifications to the original SKA Assets Loan Agreement dated January 19, 2022 between Prognoz and SKA Assets with respect to an increase in the loan principal of 1,500,000,000 (equivalent to approximately C$33,550,000 based on an exchange rate of 0.0217) rubles for an aggregate loan principal in the amount of 2,250,000,000 rubles (equivalent to approximately C$48,911,800 based on an exchange rate of 0.0217) and extending the maturity date of the loan from December 31, 2022 to December 31, 2025 and increasing the interest rate of the loan from 10.27% per annum to 12 .5% per annum from October 1, 2022. All other terms of the loan agreement remained unchanged.

The amendment to the SKA loan agreement has been approved by the Toronto Stock Exchange (“TSX“) and a copy of the agreement has been filed on SEDAR under the Company’s profile. SKA Assets is indirectly owned by Sergey Kolesnikov, who is in turn a majority shareholder of Inflection Management Corporation Limited (“Inflection“), a major shareholder of Silver Bear.

Amending SKA Loan Agreement Is a “Related Party Transaction” Under Multilateral Instrument 61-101 – Protection of holders of minority securities in special transactions (“MI 61-101“) because Inflection is a related party of the Company, as its major shareholder. The SKA loan amendment is exempt from minority shareholder approval requirements under NI 61-101 through the application of exemption under section 5.7(1)(f), since the loan, as modified by the amendment to the SKA loan agreement, is a loan without an equity component and was obtained by the company from a related party on reasonable commercial terms that are no less advantageous to the Company than if the loan had been obtained from a person dealing at arm’s length with the Company.

FA Amendment Update

After receiving shareholder approval for the FA Amendment at the company’s meeting, management is in the process of finalizing and executing the agreement, at which time the company will make an announcement and file both FA Amendment and FA Amendment Material Change Report.

The FA Amendment relates to certain amendments to the credit facility agreement dated September 5, 2016, as amended by certain deeds of approval, modification and restatement dated December 28, 2016, March 27, 2017, June 2017, from November 07, 2017, September 18, 2018, December 24, 2018, December 24, 2019, May 26, 2020, October 09, 2020 and December 31, 2020, between Inflection and Unifirm (a subsidiary of Aterra), as lenders (together, the “Lenders“), Inflection as Security Officer, the Company (or Old Silver Bear, as the case may be) and Closed Joint Stock Company “Prognoz” (“Prognosis“), a wholly-owned subsidiary of the Company, as borrowers (together, the “Borrowers“) and the Company, Prognoz and Silver Bear Resources BV (“SBR B.V.“), a wholly owned subsidiary of the Company (subsequently dissolved), as Guarantors (collectively, the “Guarantors“) (the “Facilities agreement“).

The FA Amendment is a “related party transaction” under Multilateral Instrument 61-101 – Protection of holders of minority securities in special transactions (“MI 61-101“) because Inflection is a related party of the Company, as its principal shareholder. The amendment to the 2022 facilities agreement is exempt from the minority shareholder approval requirements under NI 61-101 by the application of the exemption under Article 5.7(1)(f) , given that the loan made by Inflection and Unifirm, as modified by the amendments to the 2022 facilities agreement, is a loan without a component of equity and has been obtained by the Company from a related party on reasonable commercial terms that are no less advantageous to the Company than if such loan was obtained from a person dealing at arm’s length with the Company

About the Silver Bear

Silver Bear (TSX: SBR) is focused on developing its wholly-owned Mangazeisky silver project, covering a license area of ​​approximately 570 km2 which includes the high-grade Vertikalny deposit, located 400 km north of Yakutsk in the Republic of Sakha within the Russian Federation. In April 2018, the Company reached its first silver production following commissioning activities and on July 1, 2019, the Company reached full commercial production. Additional information relating to Silver Bear is available on SEDAR at www.sedar.com and on the Company’s website at www.silverbearresources.com.

Cautionary Notes

This release and subsequent oral statements made by and on behalf of the Company may contain forward-looking statements that reflect management’s expectations. Where possible, words such as “intends”, “expects”, “plans”, “estimates”, “anticipates”, “believes” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “could” or “will” be taken, will occur or will be realized, have been used to identify these forward-looking statements. Although the forward-looking statements contained in this press release reflect the current beliefs of management based on information currently available to management and based on what management considers to be reasonable assumptions, the Company cannot be certain that the results actual results will be consistent with these forward-looking statements. A number of factors could cause events and achievements to differ materially from the results expressed or implied by the forward-looking statements. These risk factors include, but are not limited to, the risk factors identified by the Company in its continuous disclosure documents filed from time to time on SEDAR. These factors should be carefully considered and potential investors should not place undue reliance on forward-looking statements. Forward-looking statements necessarily involve important known and unknown risks, assumptions and uncertainties that may cause the actual results, events, prospects and opportunities of the Company to differ materially from those expressed or implied by such forward-looking statements. Although the Company has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors and risks that so that actions, events or results are not as anticipated, estimated or anticipated. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, potential investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this release, and the Company undertakes no obligation to update or revise them to reflect new events or circumstances, except as otherwise required by law.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20221111005423/en/

contacts

Vadim Ilchuk
President and CEO
Such. : +7 985 866 8877
info@silverbearresources.com

Mikhail Ilyin
Financial director
milyin@silverbearresources.com

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Al-Sisi, IMF Managing Director Discuss Bilateral Partnership Following Loan Deal https://apairof.com/al-sisi-imf-managing-director-discuss-bilateral-partnership-following-loan-deal/ Sun, 06 Nov 2022 17:36:06 +0000 https://apairof.com/al-sisi-imf-managing-director-discuss-bilateral-partnership-following-loan-deal/ Egyptian President Abdel Fattah Al-Sissi on Sunday received Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), and her accompanying delegation, in the presence of Prime Minister Mostafa Madbouly, the Governor of the Central Bank and Ministers of Economic planning and development, international cooperation and finance. The meeting was part of Kristalina’s visit to […]]]>

Egyptian President Abdel Fattah Al-Sissi on Sunday received Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), and her accompanying delegation, in the presence of Prime Minister Mostafa Madbouly, the Governor of the Central Bank and Ministers of Economic planning and development, international cooperation and finance.

The meeting was part of Kristalina’s visit to Egypt to participate in the UN Climate Summit COP27 in Sharm el-Sheikh.

In a statement, official spokesperson for the presidency Bassam Rady said the meeting focused on reviewing aspects of Egypt’s partnership with the IMF, particularly in light of the recently concluded cooperation agreement between the two parties to complete Egypt’s economic reform. treat.

During the meeting, the President expressed his appreciation for Kristalina’s contributions in the fruitful partnership and constructive cooperation between the Egyptian government and the IMF to implement the comprehensive economic reform program, given this that this partnership represents to create a positive climate for promising investments. opportunities in Egypt and his thoughts on supporting the Egyptian economy.

Al-Sisi also stressed the state’s willingness to complete the process of economic and structural reform related to fiscal and monetary policies, as well as to maximize the role of the private sector.

In addition, the spokesperson explained that Kristalina stressed that the IMF will continue its distinguished relations of cooperation and partnership with Egypt to support its “economic reform process”, especially in light of what the press release describes. such as the stability of the performance of the Egyptian economy over the past period and its ability to withstand and absorb the negative repercussions and shocks resulting from the COVID-19 crisis and the current global economic crisis resulting from the Russian- Ukrainian, which have deeply affected the economies of emerging countries.

For her part, the Managing Director of the IMF praised Egypt’s success in coping with these repercussions and the successive changes in global monetary policy and containing their effects, which has preserved the safe course of the Egyptian economy. , according to the press release.



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Court approves Laurentian loan agreement with province https://apairof.com/court-approves-laurentian-loan-agreement-with-province/ Wed, 02 Nov 2022 13:00:00 +0000 https://apairof.com/court-approves-laurentian-loan-agreement-with-province/ University will take until 2038 to repay $35 million loan from funds borrowed during insolvency A long-term loan agreement between Laurentian University and the provincial government to replace $35 million in bridge loans taken out by LU during its insolvency was approved by the courts on November 1. These bridge loans are also known as […]]]>

University will take until 2038 to repay $35 million loan from funds borrowed during insolvency

A long-term loan agreement between Laurentian University and the provincial government to replace $35 million in bridge loans taken out by LU during its insolvency was approved by the courts on November 1.

These bridge loans are also known as debtor-in-possession loans, or DIP loans for short. They were initially contracted through a private lender, but transferred to the province earlier this year.

In early 2021, Laurentian declared insolvency and filed for creditor protection under the Companies’ Creditors Arrangement Act (CCAA), making widespread cuts to its programs and employees in April of the same year.

The university hopes to emerge from the CCAA in November after creditors vote in favor of a debt plan.

Also known as the plan of arrangement, the debt plan has several conditions for its implementation, including the establishment of exit financing for the $35 million long-term loan with the province. .

“Laurentian is working on the various terms of the plan (of arrangement),” said Laurentian insolvency lawyer DJ Miller.

“One of those key terms, of course, is obtaining an exit financing facility, which allows Laurentian to fully repay the credit facility, which is currently fully drawn.

“So the terms of an exit loan agreement had been negotiated with the Department of Colleges and Universities, which is the DIP lender, and will now be the exit lender.”

As previously indicated, the loan agreement provides that Laurentian will repay what it owes by April 30, 2038, in annual installments of principal and interest, at an annual interest rate equal to 6.106%.

This interest rate is subject to a “cost of funds adjustment”, which is an increase or decrease in the base interest rate.

A court document said this is “solely based on any change in the province’s cost of funds over 15 years between the date of the exit funding agreement and the date of the facility advance.”

The amortization schedule would see Laurentian repay $591,693 in principal and $884,115 in interest as of April 30, 2023. You can view the full amortization schedule on page 80 of this court document.

Conditions attached to Laurentian’s loan include a lien on its property and periodic reporting to the province on financial, operational, governance and other matters.

If you’re interested in the full terms of the loan with the province, they’re outlined in several publicly available court documents, including the Monitor’s 18th Report, which was released by Ernst & Young on October 27.

Also on the November 1 hearing date, the release of a grievance officer who had been appointed to resolve outstanding union grievances was approved.

Liz Pilon, legal counsel for Ernst & Young, which is the court-appointed monitor of Laurentian’s CCAA process, said the grievance officer “may need to help us with one final grievance before his work is not finished”.

But this work must be done as a condition of the implementation of the plan of arrangement, and the way the order is written, the grievance officer must be released during the implementation of the debt plan of the Laurentian.

Lawyers for Laurentian and Ernst & Young were the only two people to make submissions at the Nov. 1 court date.

After asking if anyone else wanted to speak, Chief Justice Geoffrey Morawetz said “you can consider both orders granted,” adding that he will issue brief written reasons for his decision.

— sudbury.com

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New IMF loan agreement testifies to stability of Egyptian economy: PM Madbouly – Politics – Egypt https://apairof.com/new-imf-loan-agreement-testifies-to-stability-of-egyptian-economy-pm-madbouly-politics-egypt/ Thu, 27 Oct 2022 12:47:17 +0000 https://apairof.com/new-imf-loan-agreement-testifies-to-stability-of-egyptian-economy-pm-madbouly-politics-egypt/ In the presser, Egypt announced that it has entered into a 46-month staff-level agreement with the International Monetary Fund (IMF) under the Extended Financing Facility (EFF) with a loan worth $3 billion. Minister of Finance Mohamed Maiit, Minister of Planning and Economic Development Hala El-Said, IMF Mission Chief for Egypt Ivanna Vladkova Hollar and Governor […]]]>

In the presser, Egypt announced that it has entered into a 46-month staff-level agreement with the International Monetary Fund (IMF) under the Extended Financing Facility (EFF) with a loan worth $3 billion.

Minister of Finance Mohamed Maiit, Minister of Planning and Economic Development Hala El-Said, IMF Mission Chief for Egypt Ivanna Vladkova Hollar and Governor of the Central Bank of Egypt Hassan Abdalla attended the press conference.

During the press conference, Maait explained that the $3 billion IMF loan is part of a $9 billion financing plan that is expected to include $1 billion from the sustainability fund and $5 billion the country’s development partners.

Prime Minister Madbouly added that “the government’s new economic recovery program, which is supported by the IMF, is mainly aimed at preserving macroeconomic stability, achieving public debt sustainability and improving the performance of the economy for coping with external shocks triggered by major global crises,

It also aims to strengthen social safety nets, social protection, strengthen structural reforms to achieve growth and create jobs through the private sector, Madbouly said.

For his part, the CBE Governor underlined during the press conference that “the agreement is part of the structural measures and policies that Egypt has recently adopted as part of its new economic reform program. “.

“This program will improve the country’s macroeconomic indicators and its ability to meet external obligations that have been exacerbated as a result of the Russian-Ukrainian conflict,” Abdalla added.

In mid-October, Egypt and the IMF reached agreement on the three main pillars of a new economic reform program to help the country deal with various economic challenges amid global crises.

On the monetary policy side, the Governor noted that the CBE aims to rebuild the country’s net international reserves (NIR) in a gradual and sustainable manner, revealing that the bank has designed a program that aims to fill the gaps in the financing of the countries over the next few years. four years.

He also affirmed that the CBE gives priority in the short and medium term to reducing high inflation rates to the announced target of seven percent (2 ± percent) until the end of the fourth quarter of 2022.

During the press conference, Finance Minister Maait also announced the implementation modalities of the new social protection funding package that the government announced yesterday.

The finance minister said his ministry has allocated EGP 67.3 billion to implement this package from November 1, adding that the public treasury will bear an additional EGP 1.9 billion to keep oil and gas prices up. at the end of 2022.

On the financial side, Maait said the agreement with the IMF aims to reduce the overall debt-to-GDP ratio to less than 80% in the medium term.

“The program aims to provide Egypt with balance of payments and budget support while catalyzing additional financing from Egypt’s international and regional partners to maintain economic stability, address macroeconomic imbalances and the fallout from the war in Ukraine, protecting livelihoods and advancing deep structures and governance reforms to promote private sector-led growth and job creation,” according to IMF mission chief in Egypt Ivanna Vladkova Hollar .

“Egypt’s international and regional partners will play a critical role in facilitating the implementation of the authorities’ policies and reforms, revealing that approximately $5 billion in additional funding is expected to be provided through multilateral partners and regional markets during the current fiscal year 2022/2023, which ends in June 2023, which will help strengthen Egypt’s external position,” read a statement released by the IMF on Thursday.

Course change decisions

Earlier on Thursday, at an unscheduled meeting, the CBE’s Monetary Policy Committee (MPC) announced an increase in key interest rates by 2% (200 basis points) to 13.25%, 14, 25%, 13.75% and 13.57% for overnight deposit. exchange rate, overnight financing rate, main operation rate and discount rate, respectively.

In a statement, the CBE attributed its decision to strong global and domestic prices which are expected to keep headline inflation above the MPC’s announced target of seven percent (±2 percent) on average until March. fourth quarter of 2022.

The decision aims to maintain the CBE’s mandate to ensure price stability in the local market in the medium term, the statement noted.

It also aims to anchor inflation projections and contain demand-side pressures and higher broad money growth as well as second-round effects of supply shocks, he added. .

Also on Thursday, the CBE raised the letter of credit (LC) exception limit for imported shipments from $5,000 to $500,000 effective today after announcing it would begin the process of eliminating phase-out of a February decision that mandated the use of (LC for import financing by December 2022.

On Wednesday, the government raised the minimum wage for public employees from EGP 2,700 to EGP 3,000 in addition to an allowance to such employees and pensioners to meet increases in the cost of living.

The government has also frozen electricity prices for households until June 2023.

Egypt’s annual headline inflation rose to 15.3% in September from 8% in September 2021, the highest level since recording 15.7% in November 2018.

IMF Statement

“The program aims to provide Egypt with balance of payments and budget support while catalyzing additional financing from Egypt’s international and regional partners to maintain economic stability, address macroeconomic imbalances and the fallout from the war in Ukraine, protecting livelihoods and advancing deep structures and governance reforms to promote private sector-led growth and job creation,” according to IMF mission chief in Egypt Ivanna Vladkova Hollar .

“Egypt’s international and regional partners will play a critical role in facilitating the implementation of the authorities’ policies and reforms, revealing that approximately $5 billion in additional funding is expected to be provided through multilateral partners and regional markets during the current fiscal year 2022/2023, which ends in June 2023, which will help strengthen Egypt’s external position,” read a statement released by the IMF on Thursday.

The loan agreement is subject to approval by the IMF’s executive board, which is expected to discuss the deal in December, according to Hollar.

She added that the rapidly changing global environment and the fallout from the war in Ukraine pose significant challenges for countries around the world, including Egypt.

“The IMF team welcomes the authorities’ recent steps to expand targeted social protection, implement a sustainable flexible exchange rate regime, and phase out the mandatory use of letters of credit for import financing, as well as their unwavering commitment to tackle the necessary macroeconomic adjustments and to carry out an ambitious program of structural reforms in a difficult global context,” said Hollar.

Hollar also added that the Egyptian government’s fiscal policy under the EFF will be anchored on the reduction of general public debt and gross financing needs, adding that further fiscal consolidation will be supported by the implementation of the government’s Medium Term Revenue Strategy (MTRS) which aims to improve the efficiency and progressivity of the tax system.

“Social protection will continue to be strengthened, including through the temporary extension of emergency support to ration card holders and measures to protect the purchasing power of vulnerable employees and pensioners. Broad fiscal structural reforms will also aim to further improve the composition of the budget, strengthen governance, accountability and transparency, and support climate change mitigation goals,” Hollar noted.

On the monetary policy side, Hollar said the Central Bank of Egypt’s (CBE) move to a flexible exchange rate regime is an important and welcome step to correct external imbalances, boost Egypt’s competitiveness and attract foreign direct investment.

“The commitment to sustainable exchange rate flexibility going forward will be a fundamental policy to rebuild and preserve Egypt’s external resilience in the long term. The EFF will support the CBE’s efforts to improve the functioning of the foreign exchange market, increase foreign exchange reserves and further improve the transmission of monetary policy.

Monetary policy, which will be firmly anchored in the CBE’s price stability mandate, will aim to gradually reduce inflation within the CBE’s inflation target,” Hollar explained.

The EFF also aims to unlock Egypt’s enormous growth potential by broadening and deepening structural and governance reforms. The program will include policies aimed at spurring private sector growth, including reducing the footprint of the state, adopting a stronger competition framework, improving transparency and ensuring better trade facilitation, according to Hollar.

She added that the Egyptian authorities also plan to expand targeted social transfers and increase spending on social assistance, health and education, stressing that these reform measures will be essential to address long-standing constraints to higher, more sustainable and more inclusive growth in Egypt.

The IMF also announced that the Egyptian government has also requested financing under the new Resilience and Sustainability Facility (RSF) which aims to provide affordable, long-term financing to help build resilience, including against climate change.

“Access discussions under this facility, which could unlock up to an additional $1 billion for Egypt, will take place in the coming months. We would like to thank the authorities and their technical teams for the frank and constructive discussions and we look forward to continuing our commitment to Egypt and its people,” concluded Hollar.

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Pink Energy’s loan deal for a client falsely doubled her income https://apairof.com/pink-energys-loan-deal-for-a-client-falsely-doubled-her-income/ Tue, 18 Oct 2022 23:40:00 +0000 https://apairof.com/pink-energys-loan-deal-for-a-client-falsely-doubled-her-income/ CHARLOTTE, NC (WBTV) – Lawsuits and complaints against solar energy company Pink Energy, formerly known as Power Home Solar, highlight loopholes and failures in the process of obtaining loans which financially compromised customers. A WBTV investigation now reveals a Pink Energy client had her earnings unknowingly tampered with and listed as double what she actually […]]]>

CHARLOTTE, NC (WBTV) – Lawsuits and complaints against solar energy company Pink Energy, formerly known as Power Home Solar, highlight loopholes and failures in the process of obtaining loans which financially compromised customers. A WBTV investigation now reveals a Pink Energy client had her earnings unknowingly tampered with and listed as double what she actually earns.

A review of complaints from Pink Energy customers shows that virtually all have used financing to secure the purchase of a solar panel system. WBTV has copies of purchase contracts showing prices as low as $30,000 and over $100,000 for panel systems and backup batteries.

Many of the complaints filed with attorneys general’s offices claim that the panel systems that have been purchased do not provide the type of savings promised. In the case of Deena Mooney, she says there is no saving.

“I have a $64,000 system that generates solar power, but the electricity it generates isn’t going anywhere,” Mooney told WBTV.

Mooney lives in Missouri. She only bought her system from Pink in May this year and her loan was funded by Sunlight Financial.

Deena requested a copy of her loan application from Sunlight Financial and received the documents in the mail which left her slammed.

The qualifying loan information indicated that she was single and her annual income was $130,000 per year.

“I’ve been married for almost 25 years and also they doubled the amount of income I earned on this loan application,” Mooney said.

A copy of loan application and qualifying information for Deena Money. She says her income is half of that reported by Pink’s energy sales rep and that she has been married for 25 years.(WBTV)

Many customers WBTV spoke to were unable to obtain copies of their loan applications from lenders.

The documents on which the legal filings against Pink Energy and WBTV’s investigations have focused come primarily from original loan documentation and purchase agreements.

– Loan application (includes entered applicant information like job, income and monthly debt)

– Purchase and installation form (includes information on energy system and batteries)

– Program product attachment (energy efficiency product information and product compensation percentage)

– Scope of work (information on the amount of energy drawn from the grid compared to the solar panel system)

Other internal Pink Energy communications, obtained by WBTV via sources and verified by an employee who received the email, raise additional questions about whether more information in loan applications and qualification must be criticized.

The email from 2020, when Pink Energy was still called Power Home Solar, gives explicit instructions to company employees on “workarounds” if they “cannot get the customer approved.”

An email from a senior Power Home Solar employee tells employees how to find a "Workaround"...
An email from a senior Power Home Solar employee tells employees how to find a “workaround” for loan applications.(WBTV)

The email, sent by a high-level employee, explains that Pink/Power Home used Sunlight Financial as the primary lender on most systems, but “when processing loans, it is VERY IMPORTANT that you qualify the customer by using the integration of the Solo proposal”.

The email explains that if an employee cannot use Solo and must use the Sunlight portal, they will need to enter different information to “get the loan approved.”

WBTV provided a copy of the email and information about Mooney’s loan application to Sunlight Financial.

A spokesperson for Sunlight Financial wrote in an email that the company has adequate procedures in place to ensure accurate information is included in loans.

“Although Sunlight is not aware of this specific email, we use back-end review procedures to ensure the accuracy of loan application information. Additionally, Sunlight uses a variety of third-party tools to validate the creditworthiness of applicants and verify the identity of loan applicants,” a spokesperson wrote.

The spokesperson also claimed that Mooney’s system was connected to the network, but Mooney later provided WBTV with an email refuting this claim which shows that his system only has I permission to connect to their local power grid.

Ohio legal complaints that also list a lender as a defendant say Pink’s sales representatives rushed to review loan applications with customers by scrolling through the electronic agreement “at a rapid and unacceptable pace. , while simultaneously giving its inaccurate and erroneous interpretation of the content of each provision.

The lawsuits also allege Pink Energy combined solar system output with energy-efficiency kits that include LED bulbs, showerheads, thermal blankets and more.

Customer records obtained by WBTV also show that nearly all of them have received energy efficiency items, whether or not they already have them.

According to the lawsuit, the bundling of the system’s output with the energy efficiency package was done to “calculate how much energy (customers) would get from the power grid versus how much they would gain/save by switching to the solar system of the defendant Pink Energy”. .”

The lawsuit alleges that Pink allowed Pink to sell “its solar panel to customers at a high mark-up price.”

WBTV contacted Pink Energy for comment, but no response was provided. The company filed for Chapter 7 bankruptcy on October 7.

If you’re a customer looking for these sales and loan agreements, here’s what to ask for and where to ask for it.

Copies of the following.

– Loan request

– Purchase and installation form

– Program product attachment

– Work’s extent

good jump – Email Mmurray@goodleap.com and/or for hard copies call 1.877.290.9991.

Sunlight Financial – Email support@sunlightfinancial.com

Language of loan documentation – To Obtain Paper Copies of Documents

“To obtain hard copies of any or all of the materials previously delivered to you by email or executed electronically, you should email us at support@sunlightfinancial.com, quoting your email address in the body. email, your full name, mailing address, telephone number and request to receive the specified Documents or all Documents previously delivered by email or executed electronically.”

If the loan company claims there is another underwriter, request the information from the other company as well.

Email investigations@wbtv.com with any discrepancies you may find in the loan application, purchase and installation form, program product attachment, and scope of work forms.

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İBB signs additional loan agreement for Ümraniye Göztepe metro line https://apairof.com/ibb-signs-additional-loan-agreement-for-umraniye-goztepe-metro-line/ Thu, 13 Oct 2022 07:00:00 +0000 https://apairof.com/ibb-signs-additional-loan-agreement-for-umraniye-goztepe-metro-line/ İBB signs additional loan agreement for Ümraniye Göztepe metro line An additional €75 million loan agreement has been signed between IMM and the EBRD to be used in the Ümraniye – Ataşehir – Göztepe metro line project. Speaking at the signing ceremony, İBB Chairman Ekrem İmamoğlu “Previously, we took out another loan of 175 million […]]]>
İBB signs additional loan agreement for Ümraniye Göztepe metro line

An additional €75 million loan agreement has been signed between IMM and the EBRD to be used in the Ümraniye – Ataşehir – Göztepe metro line project. Speaking at the signing ceremony, İBB Chairman Ekrem İmamoğlu “Previously, we took out another loan of 175 million euros for this line, which also included EBRD, Societe Generale de la Banque de trade and development of the Black Sea. With the financial support provided on August 27, 2019, we started the work on this line in the fastest way on October 10, 2019. Currently, the progress of our line is at the level of 55%. Now, with the 75 million credits we received at once, we will work hard to put this line to work for our people as soon as possible. We plan to open the Ümraniye – Ataşehir – Göztepe metro line in 2024,” he said.

An additional €75 million loan agreement has been signed between Istanbul Metropolitan Municipality (IMM) and the European Bank for Reconstruction and Development (EBRD) to be used in the Ümraniye – Ataşehir Metro Line Project – Goztepe. On behalf of IMM, the contract protocol prepared for the repayment of the loan is signed by the President. Ekrem İmamoğlu and Nandita Parshad, managing director of the institution’s sustainable infrastructure group, for the EBRD. Before the signing ceremony, İmamoğlu and Parshad gave a speech.

“BEING A GREEN CITY FOR OUR OBJECTIVES IS IMPORTANT”

Recalling that they have set their goal of “a green, fair and creative city” for Istanbul since the day they took office, İmamoğlu said: “Being a green city was an important part of the three main axes that we have set for Istanbul in particular. To achieve this goal, we are taking steps that will add value to Istanbul in many areas, from sustainable and environmentally friendly infrastructure to renewable energy sources, from waste management to transport. We work hard to leave a city that breathes, respects nature and lives with happy people for future generations. In the vision we have created for the future of Istanbul, the role of railway systems is also very important.

“WE ARE THE CITY BUILDING THE MOST SUBWAYS IN THE WORLD AT THE SAME TIME”

Saying, “We are in a serious investment process for the metro, which is a nature-friendly, comfortable and fast public transport,” İmamoğlu said:

“In this way, Istanbul is the city that has built the most metros in the world at the same time. We participated in the ‘Green Cities Urban Sustainability Programme’ by previously signing an agreement with the EBRD. In this context, we have told you that we will cooperate in the steps we take in the investments to be made for a sustainable city. Today, we are together to sign a loan agreement of 75 million euros within the framework of the Ümraniye – Ataşehir – Göztepe metro project. Previously, we had taken out another loan of 175 million euros for this line, which also included the EBRD, Black Sea Trade and Development Bank Societe General. Thanks to the financial support provided on August 27, 2019, we started work on this line in the fastest way on October 10, 2019. The progress of our line has now reached a very appreciable level, at 55%. Now, with the 75 million credits we received at once, we will work hard to put this line to work for our people as soon as possible.

“WE OPEN THE LINE IN 2024”

Sharing the information that they plan to open Ümraniye – Ataşehir – Göztepe metro line in 2024, İmamoğlu said, “Because this metro line is the most important transport axis of the Finans City project, which is located on this line and is expected to employ about 80,000 people at the same time, and this is the most intense way to achieve our goal. a triggering situation. I sincerely thank the EBRD and its esteemed officials on behalf of the city of Istanbul, on behalf of the 16 million inhabitants of Istanbul, for their support for investments in the future of Istanbul and the goal of a sustainable and green city. I would like to thank my dear colleagues for all their work I hope that this cooperation between us will continue to increase, that we will carry out many projects that are very beneficial for Istanbul, one of the largest cities in Europe, one of the most important metropolises in the world, and our world together. e. Of course, I hope to take the right steps together to make sure. Good luck for our city,” he said.

PARSHAD: “WE ARE LOOKING TO FINANCE NEW PROJECTS”

In his speech, Parshad said, “We look forward to funding new projects to make the lives of the 16 million citizens of this beautiful city more beautiful. Mayor, we will be happy to support you and your team to make Istanbul a greener city. After the speeches, İmamoğlu and Parshad signed the contract protocol prepared between İBB and EBRD.

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Inside Housing – Home – Swan breaches loan agreement with lender due to late filing of accounts https://apairof.com/inside-housing-home-swan-breaches-loan-agreement-with-lender-due-to-late-filing-of-accounts/ Thu, 13 Oct 2022 05:58:54 +0000 https://apairof.com/inside-housing-home-swan-breaches-loan-agreement-with-lender-due-to-late-filing-of-accounts/ New13.10.22by Stephen Delahunty The Swan Housing Association has defaulted on an obligation under its £250million bond loan agreement funded by a global investment firm after filing its annual accounts late. Image: Getty dividing lines Struggling landlord Swan Housing Association has breached a loan deal on a £250million bond funded by a global investment firm after […]]]>

The Swan Housing Association has defaulted on an obligation under its £250million bond loan agreement funded by a global investment firm after filing its annual accounts late.

Image: Getty

dividing lines


Struggling landlord Swan Housing Association has breached a loan deal on a £250million bond funded by a global investment firm after filing its overdue annual accounts #UKhousing


In a statement to the stock exchange, M&G said a breach occurred in the terms of the loan agreement because the owner failed to provide its audited financial statements, including its balance sheet and profit statement. and losses.

M&G said the breach “will constitute a default by the borrower under the loan agreement if it continues for the 30-day period.”

The stock market update explained that the investment company is not required to take enforcement action unless it has been directed to do so by an extraordinary resolution, or the holders of at least a quarter of the principal amount of the bonds have requested it. in writing.

M&G acknowledged that auditors were unable to complete their audit of Swan’s accounts for the financial year through March 2022 due to the breakdown of its year-long merger talks with Orbit.

The financial audit is expected to be completed in the event of a merger with Sanctuary, with a completion date of November 30, 2022, subject to satisfactory due diligence.

As a result, M&G said it was “currently inclined not to serve notices of ‘breaches under the Swan Agreement’ in order to allow sufficient time for the merger to take effect and the breaches to be remedied at unless directed and indemnified, secured and/or pre-funded to its satisfaction”.

“M&G and its advisers will continue to monitor the progress of the breaches and the merger with Sanctuary and will reassess this position in light of any adverse developments,” the update adds.

Inside the housing reported yesterday that Orbit had advanced the association a secured loan of £25m, which was later increased to £40m in March 2022, following the announcement of merger talks in December from the last year.

During the merger process, an audit of Swan’s 2021/22 accounts by Grant Thornton revealed a potential annual write-down of £178.4m against its development plans.

The auditor said he had “insufficient assurance” on the level of impairment and that the owner remains a “going concern” on a merger basis.

Last week, Swan was named as one of three landlords who announced they would submit their overdue financial accounts to the social housing regulator (RSH) this year.

The business update revealed that discussions with the auditors on the timing of the signing of audited accounts and the wording of the auditor’s report are continuing.

On the same day news of talks between Orbit and Swan emerged last year, the RHS rated Swan non-compliant on governance and financial viability.

The regulatory judgment said the downgrade was partly caused by a “material deterioration” in Swan’s financial condition.

When the landlord’s merger talks with Orbit broke down late last month, Sanctuary announced the same day that it had “entered into discussions with Swan Housing Association to form a business combination”.

If the talks are successful, Swan will become a subsidiary of Sanctuary.

The stock market update also revealed that Swan is in discussions with Sanctuary to refinance the Orbit loan and replace it with a loan of its own.

Swan is not the only organization to have sought to refinance a loan agreement or nearly breached a covenant in recent months.

Shepherds Bush Housing Group (SBHG) was found non-compliant in June on governance issues after the RSH identified issues that allowed the association to come “within weeks of a possible breach of loan covenant “.

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Armada Data Corporation announced that it has entered into a loan agreement https://apairof.com/armada-data-corporation-announced-that-it-has-entered-into-a-loan-agreement/ Fri, 30 Sep 2022 15:42:41 +0000 https://apairof.com/armada-data-corporation-announced-that-it-has-entered-into-a-loan-agreement/ Mississauga, ON – Armada Data Corporation (TSX.V: ARD) (the “Company” or “Armada”) is pleased to announce that it has entered into a loan agreement (the “Loan Agreement”) to borrow up to a maximum of $200,000 (the “loan”) of 2190960 Ontario Ltd. (the lender’). As collateral for the Loan, a general surety agreement was entered into […]]]>

Mississauga, ONArmada Data Corporation (TSX.V: ARD) (the “Company” or “Armada”) is pleased to announce that it has entered into a loan agreement (the “Loan Agreement”) to borrow up to a maximum of $200,000 (the “loan”) of 2190960 Ontario Ltd. (the lender’). As collateral for the Loan, a general surety agreement was entered into in favor of the Lender. The loan bears interest at the rate of 12% per annum payable monthly from the applicable date of advance. The loan matures on September 28, 2025.

The amounts will be advanced during the term of the loan in the amounts and at the times requested by the Company, up to the maximum amount of $200,000. The amounts outstanding under the Loan will be evidenced by a checkered promissory note issued by the Company in favor of the Lender.

The Company intends to use the loan proceeds for working capital and general and corporate purposes. The Company intends to repay the loan from cash flow from operations.

The lender is a company owned and controlled by James Matthews, Director and Chief Executive Officer of the Company. Accordingly, the loan is a related party transaction within the meaning of TSXV Policy 5.9 and National Instrument 61-101 (“NI 61-101”). A resolution of the Company’s Board of Directors was passed approving the loan, with James Matthews abstain from voting. No materially adverse opinion or abstention was expressed or made by any other director.

The Company has relied on the exemptions from the NI 61-101 minority shareholder valuation and approval requirements contained in Sections 5.5(b) (TSXV-listed company) and 5.7(1)(f) ( loan to the issuer, no shares or voting rights component) with respect to this transaction. The Loan was obtained on reasonable commercial terms that were no less advantageous to the Company than if the Loan had been obtained from an arm’s length party; and the Loan is neither convertible nor redeemable in securities of the Company.

The Company did not file a material change report more than 21 days before closing, which it considers reasonable under the circumstances, as the loan was not finalized with a related party of the Company until shortly before closing and the Company was attempting to close the transaction quickly.

About Armada Data Corp.

Armada Data is a publicly traded Canadian company Information and Marketing Services Company to provide accurate, real-time data to institutional and retail clients, by developing, owning and operating automobile pricing related websites and providing information technology and marketing services to its clients.

Armada Data The shares are listed on the TSX Venture Exchange under the symbol ARD. Armada currently has a total of 17,670,265 shares outstanding.

Additional information relating to Armada Data Corporation is filed on SEDAR and can be viewed at www.sedar.com.

Contact:

Armada Data Corporation

Mr. R. James Matthews

President and CEO

Email: investors@armadadatacorp.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

(C) 2022 electronic news edition, source ENP Newswire

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Ghana’s COCOBOD to sign $1.3 billion syndicated loan agreement https://apairof.com/ghanas-cocobod-to-sign-1-3-billion-syndicated-loan-agreement/ Wed, 28 Sep 2022 07:00:00 +0000 https://apairof.com/ghanas-cocobod-to-sign-1-3-billion-syndicated-loan-agreement/ Ghana Cocoa Board (COCOBOD) will sign a $1.3 billion (€1.4 billion) pre-export syndicated loan agreement with international banks on Thursday (September 29) to finance bean purchases for the 2022/23 season, the company said on Wednesday. council spokesperson. Ghana, the world’s second largest cocoa producer behind Côte d’Ivoire, uses loans from international banks each year mainly […]]]>

Ghana Cocoa Board (COCOBOD) will sign a $1.3 billion (€1.4 billion) pre-export syndicated loan agreement with international banks on Thursday (September 29) to finance bean purchases for the 2022/23 season, the company said on Wednesday. council spokesperson.

Ghana, the world’s second largest cocoa producer behind Côte d’Ivoire, uses loans from international banks each year mainly to finance its purchases of beans. The two West African countries account for around 60% of the world’s cocoa supply.

The funding facility is between Cocobod and a consortium of banks and financial institutions with the government as guarantor, Cocobod Spokesperson Fiifi Boafo said on Wednesday.

Parliament approved the loan in July, despite efforts to overcome an economic crisis and a balance of payments deficit of nearly $2.5 billion.

Currency liquidity

Local currency watchers believe the loan will inject much-needed foreign currency liquidity into the economy and reduce growing demand for dollars, while bolstering consumer demand and lowering inflation expectations.

Ghana’s cedi currency has been one of Africa’s worst performing currencies this year, having lost around 30% of its value against the dollar during this period.

Cocoa production in Ghana is down sharply this year, estimated at 689,000 tonnes as of September 1 after a previous forecast of 800,000 tonnes. This prompted the International Cocoa Organization (ICCO) to revise upwards its forecast for the global cocoa deficit.

Falling yields are partly the result of farmers using less fertilizer, as prices have risen around the world due to high energy prices and supply disruptions caused by the invasion of Ukraine by Russia.

News by Reuters, edited by ESM- your source for the latest supply chain news. Click subscribe to register ESM: European Supermarket Magazine.

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Ondas: Entering into a loan agreement with a foreign company listed on NASDAQ – Form 8-K https://apairof.com/ondas-entering-into-a-loan-agreement-with-a-foreign-company-listed-on-nasdaq-form-8-k/ Tue, 20 Sep 2022 11:10:22 +0000 https://apairof.com/ondas-entering-into-a-loan-agreement-with-a-foreign-company-listed-on-nasdaq-form-8-k/ From October 3rd2022 Oldest of: (a) February 1, 2023; Where (b) Date of termination of the Merger Agreement due to a breach of its terms by the Company. The Company has the right to early, partial or total reimbursement (without additional costs). 1.5 million No balance used Principal and accrued interest of the Loan will […]]]>

From October 3rd2022

Oldest of:

(a) February 1, 2023; Where

(b) Date of

termination of the Merger Agreement due to a breach of its terms by the Company.

The Company has the right to early, partial or total reimbursement (without additional costs).

1.5 million

No balance used

Principal and accrued interest of the Loan will be repaid in one installment at maturity.

Fixed interest (untied) at the rate of 6% on the principal drawn;

2% additional in case of default.

(1) A first degree floating charge in favor of the Lender, over all the assets, rights and property of the Company, of every nature and type, existing and future (including, but not limited to, the property intellectual property), with the exception of all assets, rights and property which have been excluded in the Agreement (the “Encumbrance”). It should be noted that the registration of the Charge is subject to obtaining the approval of the Innovation Authority, received to date.

(2) A first degree fixed charge on the intellectual property, equipment and other fixed assets of the Company, except for equipment and goods which were excluded in the Contract.

(3) AIROBOTICS INC, American subsidiary (100%) of the Company (the “Conceding“), will guarantee the payment of the obligations of the Company and will charge for the benefit of the Lender all its existing and future assets, rights and property.3

(1) The amounts of the Credit will be used for the purpose of financing the current activities of the Company and its subsidiaries. In addition, subject to the consent of the Lender, the Company may use the Loan to repay the OurCrowd Loan.4

(2) Immediate reimbursement in the event of default (among other things, change of control), as detailed in the Agreement. For greater clarity, in the event of default, the Company will not be able to rely on the undrawn balance of the credit.

(3) The Company and the Licensor are prohibited from transferring assets to another subsidiary which is not a licensor

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