Common use of Salient Terms of the SSA Clause in Contracts

Salient Terms of the SSA. i. The Parties acknowledge that RSSB presently has a financing facility with Malaysian Debt Ventures Berhad (“MDV”), pursuant to which the Company is indebted to MDV for the sum of approximately RM826,211.48 as at 31 March 2020. ii. Subject to Completion take place in accordance with the SSA, the Vendor agrees to settle the Company’s indebtedness with MDV (“MDV Settlement”). The Vendor shall take the required steps for the MDV Settlement as soon as reasonably practicable after Completion but in any case, within thirty (30) days from full receipt of the First Tranche Balance Purchase Price amounting to RM1,082,562.31. For this purpose, the Vendor is fully authorised to represent the Company and take all required steps to give effect to the MDV Settlement, including signing, on behalf of the Company, any required documents. Without prejudice to the foregoing, the Vendor undertakes to take, and shall procure the Company to take, all required steps to give effect to the MDV Settlement, including executing all required documents. iii. The Parties acknowledge and agree that: (a) RSSB is expected to receive a refund from MDV (including but not limited to the amounts in the sinking fund maintained with MDV, which is equivalent to RM67,437.69 as at 31 March 2020) (“MDV Refund Amount”) upon the MDV Settlement taking place; and (b) the Vendor shall be entitled to the MDV Refund Amount. iv. The Parties agree that the assets and liabilities of the Company as at 31 March 2020 and reflected in the SSA shall be to the account of the Vendor.

Salient Terms of the SSA. i. The Parties acknowledge that RSSB KASB presently has a financing facility with Malaysian Debt Ventures Berhad (“MDV”), pursuant to which the Company is indebted to MDV for the sum of approximately RM826,211.48 RM850,171.91 as at 31 March 2020LPD. ii. Subject to Completion take place in accordance with the SSA, the Vendor agrees to settle the Company’s indebtedness with MDV (“MDV Settlement”). The Vendor shall take the required steps for the MDV Settlement as soon as reasonably practicable after Completion but in any case, within thirty (30) days from full receipt of the First Tranche Balance Purchase Price amounting to RM1,082,562.31RM906,039.60. For this purpose, the Vendor is fully authorised to represent the Company and take all required steps to give effect to the MDV Settlement, including signing, on behalf of the Company, any required documents. Without prejudice to the foregoing, the Vendor undertakes to take, and shall procure the Company to take, all required steps to give effect to the MDV Settlement, including executing all required documents. iii. The Parties acknowledge and agree that: (a) RSSB KASB is expected to receive a refund from MDV (including but not limited to the amounts in the sinking fund maintained with MDV, which is equivalent to RM67,437.69 RM67,710.43 as at 31 March 30 June 2020) (“MDV Refund Amount”) upon the MDV Settlement taking place; and (b) the Vendor shall be entitled to the MDV Refund Amount. iv. The Parties agree that the assets and liabilities of the Company as at 31 March 2020 LPD and reflected in the SSA shall be to the account of the Vendor.