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How to Share Facility Agreement

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In this video, Steve Parra, a Vancouver business lawyer, discusses the significance of shareholders agreements. He notes that these agreements are complex, often ranging from 15 to 60 pages, and contain legal jargon that can be difficult for non-lawyers to comprehend. As a result, they frequently get postponed, despite their importance. Parra likens the avoidance of these agreements to postponing a dental visit, highlighting that, although they may seem unappealing, they are crucial for the long-term success of a business. He plans to illustrate his points with a scenario involving a friend's property management company.

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What is a facilities agreement?

An agreement or letter in which a lender (usually a bank or other financial institution) sets out the terms and conditions (including the conditions precedent) on which it is prepared to make a loan facility available to a borrower. The loan facility is typically a term loan, revolving facility or overdraft.

What is an example of shared facilities?

Shared Facilities means the information systems, control systems, electrical infrastructure and equipment, data lines, emergency response equipment, communication lines, maintenance facilities, valves, motor control centers, buildings, pump station locations, terminal facilities, lab facilities, fire protection systems

What is a shared facilities agreement?

A mutual use or shared facility agreement is an agreement that provides for the mutual use, provision or maintenance of certain lands or facilities between or amongst condominium corporations, or between the condominium corporation and any person (e.g., the declarant).

What are shared facilities examples?

The activities supported by these shared facilities are wide ranging and can include neighbourhood houses, community hubs, youth groups, public meeting spaces, emergency services, community health and aged care services, libraries, schools and recreational facilities.

What does facilities mean in a company?

A facility is an agreement between a company and a public or private lender that allows the business to borrow a particular amount of money for different purposes for a short period of time. The loan is for a set amount and does not require collateral.

What is Share facility?

Shared Facilities means equipment, facilities, pipelines, permits, real estate rights, entitlements or other property that are shared or jointly used, owned or operated by the Borrower or any of its Subsidiaries and any owner of Expansion Assets.

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