Shareholders' Agreements · glossary
The word every money limit in Schedule 2 uses. It means strictly more than, so borrowing that brings the total to exactly £1,000,000 is not caught, but one pound more is. Figures are tested without VAT, and related deals are added together. Schedule 2, item 4 · Clause 5.3 · Chapter 4
Explained in Chapter 4, Reserved Matters, of Shareholders' Agreements.
Each money line on the list uses the word exceeding, which means strictly more than. Item 4, on borrowing, shows why that matters…Read Chapter 4, Reserved Matters →
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