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Further to what was announced regarding the BOD approval of the expansion project of AL Mouasah hospital- Aljubail industrial city for a total cost of SR 110 million, The BOD of AlMouasah Co. would like to add the following terms:
The credit facility agreement with SABB has included the following guarantees terms:
1- A signed bond (to the order of) by the company Executes as much debt at maturity.
2- A fire insurance policy covering the hospital expansion project naming the bank as the first beneficiary.
3- A copy of the waiver of the medical payments contract with SABIC Ltd.
4- Waiver of payments contract with the National Company for Cooperative Insurance.
5- A fire insurance policy covering AlMouasah hospital in Dammam naming SABB as the first beneficiary
And the credit facility agreement with the national commercial bank (NCB) has included the following guarantees:
1- Provide proof that the company obtained the consent of the Royal Commission for Jubail and Yanbu to establish AlMouasah hospital in Jubail.
2- The financial leverage is not to be increased more than 1.5 to 1
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