China Joint Venture. If requested by Flightlease or SRT, WLFC shall consult with Flightlease and SRT concerning business opportunities with Sichuan Snecma Aero-Engine Maintenance Co., Ltd., a joint venture in which WLFC is a participant (including without limitation the acquisition by Flightlease or SRT of WLFC's participation in such joint venture) and when desired by Flightlease or SRT, facilitate dialogue with and presentation of business proposals to such joint venture.
China Joint Venture. Effective as of the Effective Date and notwithstanding Sections 6.1(a) and 6.2 of the Credit Agreement, Agent and Lenders hereby consent to the following completed transactions:
China Joint Venture. The Company, Investor and their respective affiliates shall, until the earlier of the Closing and the termination of this Agreement pursuant to Article 7, use their respective reasonable best efforts to negotiate in good faith definitive documentation with respect to a commercial joint venture in China on the terms and conditions set forth in the term sheet attached as Exhibit E hereto (the “China JV”), to be entered into at or prior to the Closing.
China Joint Venture. The Parties acknowledge and agree that, in accordance with the Equity Joint Venture Agreement of Shandong PGW Jinjing Automotive Glass Co. Ltd., dated as of December 11, 2013, by and between Pittsburgh Glass Works Hong Kong Limited (“PGW Hong Kong”) and Shandong Jinjing Science and Technology Stock Co., Ltd, PGW Hong Kong may be required to, or may elect to, make an additional investment in Shandong PGW Jinjing Automotive Glass Co., LTD, a People’s Republic of China entity (the “China Joint Venture”) prior to December 31, 2016. Such investment may be in the form of equity, a loan, or a combination thereof, and may be in an aggregate amount up to $3,500,000, provided that any such equity, loan or combination thereof results in an increase in PGW Hong Kong’s ownership interest in the China Joint Venture to no more than 50% (such actual form and amount of the investment, the “Investment”). Vitro may elect, on or prior to the date that is 60 days following the Closing Date, to purchase such Investment, in which case the following shall apply:
China Joint Venture. Seller acknowledges that the Base Purchase Price that Buyer has agreed to pay assumes that Buyer will obtain all rights in and to the China Sugus Assets. However, the parties acknowledge that on the Closing Date, it may not be possible for the Seller to transfer to the Buyer all rights in and to the China Sugus Assets. Accordingly, the parties have agreed to the arrangements set forth on Section 7.11 of the Disclosure Schedule. Buyer hereby agrees to pay the Base Purchase Price to Seller notwithstanding any failure by Seller to transfer the China Sugus Assets to Buyer on the Closing Date.
China Joint Venture. With respect to the China Joint Venture, all of the registered capital of the China Joint Venture has been fully paid by the Company and Beijing Tengtu Culture and Education Electronic Development Co., Ltd. and the China Joint Venture has received a capital payment verification certificate issued by an authorized PRC accounting firm confirming that the amounts set forth with respect to such companies in the preceding sentence have been paid in full. The China Joint Venture has not reduced or increased its registered capital.
