China Minsheng Underwriting Referral Services Sample Clauses

China Minsheng Underwriting Referral Services. The Proposed Annual Caps for China Minsheng Underwriting Referral Services are primarily determined based on the historical amounts of the referral fees that the Group ought to have paid to China Minsheng Group. During the year ended 31 December 2020, the underwriting fees that were generated from the Underwriting Opportunities introduced by China Minsheng Group amounted to approximately US$4.12 million. According to the 2019 Service Agreement, the Group were required to pay China Minsheng Group approximately US$2.06 million (which is equivalent to approximately HK$16.05 million). During the year ending 31 December 2021, as of the date of this announcement, the underwriting fees that have been generated from the Underwriting Opportunities introduced by China Minsheng Group amounted to approximately US$3.38 million. According to the 2019 Service Agreement, the Group were required to pay China Minsheng Group approximately US$1.69 million (which is equivalent to approximately HK$13.17 million) for the year ending 31 December 2021. Due to the change of its internal policy in 2019, China Minsheng has waived the referral fees for the Group. However, it is uncertain whether there will be any change to such policy in the future. In case that there is such a change, the Company may be required to pay the referral fees. To avoid any disruption to the operations of the Group, the Group has proposed to include the China Minsheng Underwriting Referral Services in the Service Agreement and to seek the Shareholders’ prior approval. Since China Minsheng Group has a track record and reputation for underwriting services, the Group can continue to leverage the vast network and the enormous customer base of China Minsheng Bank to develop its underwriting business. In light of the above, it is anticipated that the revenue generated from the Underwriting Opportunities introduced by China Minsheng Group for each of the three years ending 31 December 2024 would remain steady. Based on the historical referral fees of approximately HK$16.05 million and approximately HK$13.17 million as disclosed above which should have paid by the Group to China Minsheng Group for the year ended 31 December 2020 and the year ending 31 December 2021 (up to the date of this announcement), respectively, it is estimated that for each of the three years ending 31 December 2024, the estimated referral fees for China Minsheng Underwriting Referral Services will be approximately HK$12 million, HK$12 millio...
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Related to China Minsheng Underwriting Referral Services

  • Relationship Among Underwriters and Selected Dealers We shall have full authority to take such actions as we deem advisable in all matters pertaining to any Offering under this Master SDA. You are not authorized to act as an agent for us, any Underwriter or the Issuer or other Seller of any Securities in offering Securities to the public or otherwise. Neither we nor any Underwriter will be under any obligation to you except for obligations assumed hereby or in any Wire from us in connection with any Offering, and no obligations on our part as the Manager will be implied hereby or inferred herefrom. Nothing contained in this Master SDA or any Wire shall constitute the Selected Dealers an association or partners with us or any Underwriter or with one another, and the obligations of you and each of the other Selected Dealers or any of the Underwriters are several and not joint. If the Selected Dealers, among themselves, with us or with the Underwriters, should be deemed to constitute a partnership for federal income tax purposes, then you elect to be excluded from the application of Subchapter K, Chapter 1, Subtitle A of the Internal Revenue Code of 1986 and agree not to take any position inconsistent with such election. You authorize the Manager, in its discretion, to execute on your behalf such evidence of such election as may be required by the U.S. Internal Revenue Service. In connection with any Offering, you will be liable for your proportionate share of the amount of any tax, claim, demand or liability that may be asserted against you alone or against one or more Selected Dealers participating in such Offering, or against us or the Underwriters, based upon the claim that the Selected Dealers, or any of them, constitute an association, an unincorporated business or other entity, including, in each case, your proportionate share of the amount of any expense (including attorneys’ fees and expenses) incurred in defending against any such tax, claim, demand or liability.

  • Financial Public Relations Firm Promptly after the execution of a definitive agreement for a Business Combination, the Company shall retain a financial public relations firm reasonably acceptable to the Representative for a term to be agreed upon by the Company and the Representative.

  • Notice of Underwriting If the Initiating Holder(s) intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Fund as a part of their request made pursuant to this Section 3, and the Fund shall include that information in the written notice referred to in Section 3.1. The right of any Holder to Registration pursuant to this Section 3 shall be conditioned upon such Holder’s agreement to participate in the underwriting and the inclusion of that Holder’s Registrable Securities in the underwriting to the extent provided herein.

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