200 Annual Report 2021 32. LOANS AND BORROWINGS (CONT’D) The term loan and revolving credit are secured and supported as follows: (Cont’d) (b) specific debenture by way of fixed and floating charge over all present of future assets in relation to the project of a subsidiary; and (c) corporate guarantee of the Company. Term loan II of RM18,590,495 (2020: RM5,199,471) is part of the total term loan of RM30,000,000 and is repayable by 8 quarterly principal instalments of RM3,750,000 each commencing 24th month from the day of first drawdown or payment by way of redemption whichever is earlier. Secured revolving credits VI of RM5,500,000 (2020: RM2,300,000) is part of the total revolving credits of RM8,000,000 and is repayable by 3 yearly repayment commencing 24th month following the date of first drawdown or payment by way of redemption whichever is earlier. The revolving credit and term loan are secured and supported as follows: (a) legal charge over the designated account of a subsidiary; (b) assignment over all applicable insurance policies; (c) assignment of sales proceeds to be deposited into the designated account; (d) specific debenture by way of fixed and floating charge over all present of future assets of the project of a subsidiary; and (e) corporate guarantee of the Company. Term loan III of RM26,017,450 (2020: RM13,174,890) is part of the total term loan of RM28,000,000 and is repayable by 5 quarterly principal instalments of RM4,700,000 each and final payment of RM4,500,000 or any balance outstanding with the first repayment to commence on 33rd month following the date of first drawdown or payment by way of redemption whichever is earlier. Secured revolving credits VII of RM15,000,000 (2020: RM14,300,000) is part of the total revolving credits of RM15,000,000 and is repayable by 4 quarterly principal instalments of RM3,750,000 each or any balance outstanding with the first repayment to commence 39th month following the date of first drawdown or payment by way of redemption whichever is earlier. The term loan and revolving credit are secured and supported as follows: (a) specific debenture over the project land of a subsidiary; (b) charge over the designated accounts; and (c) corporate guarantee of the Company. Notes to the Financial Statements FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2021
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