Clause 22. 10.1 does not apply to any investment in any Joint Venture (a Permitted Joint Venture) where: (a) the Joint Venture carries on or will carry on a business similar to that undertaken by the Group as at the date of the investment; (b) no Default is continuing on the completion of the investment or would occur as a result; and (c) the aggregate of all Joint Venture Investments of any member or members of the Group does not exceed R50,000,000 (or its equivalent in any other currency) at any time.
Appears in 3 contracts
Sources: Common Terms Agreement (Net 1 Ueps Technologies Inc), Common Terms Agreement (Net 1 Ueps Technologies Inc), Common Terms Agreement (Net 1 Ueps Technologies Inc)
Clause 22. 10.1 does not apply to any investment in any Joint Venture (a Permitted Joint Venture) where:
(a) the Joint Venture carries on or will carry on a business similar to that undertaken by the Lesaka Group as at the date of the investment;
(b) no Default is continuing on the completion of the investment or would occur as a result; and
(c) the aggregate of all Joint Venture Investments of any member or members of the Lesaka Group does not exceed R50,000,000 R25,000,000 (or its equivalent in any other currency) at any time.
Appears in 1 contract
Sources: Senior Facility Agreement (Lesaka Technologies Inc)
Clause 22. 10.1 does not apply to any investment in any Joint Venture (a Permitted Joint Venture) where:
(a) the Joint Venture carries on or will carry on a business similar to that undertaken by the Net1 Group as at the date of the investment;
(b) no Default is continuing on the completion of the investment or would occur as a result; and
(c) the aggregate of all Joint Venture Investments of any member or members of the Net1 Group does not exceed R50,000,000 R25,000,000 (or its equivalent in any other currency) at any time.
Appears in 1 contract
Sources: Common Terms Agreement (Net 1 Ueps Technologies Inc)
Clause 22. 10.1 does not apply to any investment in any Joint Venture (a Permitted Joint Venture) where:
(a) the Joint Venture carries on or will carry on a business similar to that undertaken by the Group as at the date of the investment;
(b) no Default is continuing on the completion of the investment or would occur as a result; and
(c) the aggregate of all Joint Venture Investments of any member or members of the Group does not exceed R50,000,000 R25,000,000 (or its equivalent in any other currency) at any time.
Appears in 1 contract
Sources: Common Terms Agreement (Net 1 Ueps Technologies Inc)