TNAG-0955-FCO40-1174-Legislation-for-traffic-on-roads-in-Hong-Kong-1980 — Page 55

REPAY

LE

OVER

5

YEARS

FROM

MEAN

DELIVERY.

THE

FIXED

RATE

WILL

BE

71%

FOR

CONTRACTS

PLACED

BEFORE

31/12/80

AND

FINANCE

MAY

BE

IN

US DOLLARS

OR

STERLING

AT

KMB'S

OPTION.

2.

IT

WAS

OUR

INTENTION

ΤΟ

SEEK

то

SECURE

THE

LENDERS

POSITION

BY

A

FIXED

AND

FLOATING

CHARGE

ON

KMB'S

BUT

WE

ARE

PERSUADED

AT

THIS

JUNCTURE

SUCH

ASSETS

THAT

SECURITY

WOULD

NOT

BE

MADE

AVAILABLE.

NEVERTHELESS

IT

IS

INTENDED

THAT

THE

NEW

LOAN

AGREEMENT

WILL

REQUIRE

KMB

ΤΟ

PLEDGE

NOT

ΤΟ

CHARGE

ITS

ASSETS

OR

THOSE

OF

ANY

OF

ITS

SUBSIDIARIES

WITHOUT

THE

PRIOR

CONSENT

OF

THE

LENDER.

A

FURTHER

COMFORT

LETTER

WILL

ALSO

BE

REQUIRED

FOR

THE

ADDITIONAL

LOAN

NOW

AGREED.

3. BEFORE

FORMALLY

COMMITTING

REQUIRE

ΤΟ

REVISED

FINANCIAL

KNOW

PLAN

COVER

WHAT

IS

WE

THE

BOTH

AS

ΤΟ

CAPITAL

EXPENDITURE,

TARIFF

INCREASES

ET

AL.

PLEASE

ASK

DEREK

JONES

WHEN

THIS

INFORMATION

CAN

BE

MADE

AVAILABLE.

4.

IT

WOULD

BE

HELPFUL

ΤΟ

KNOW

ARE

WHAT

PLANNED

FURTHER

FOR

BUS

1981/82

PURCHASES

IF

THE

ORIGINAL

ESTIMATE

OF

400

EACH

YEAR

IS

THE

IS

1981

EXAGGERATED.

WHEN

REQUIREMENT

LIKELY

то

BE

CRYSTALLISED'.

AND

ORDERS

DLACED?

SHOULD

BE

MADE

CLEAR

то

DEREK

JONES

AND

/KMB