Commercial Relations. CHAPTER 1.
Commercial Relations. Though the economic and commercial cooperation at the moment is small, there exists significant scope for enhancing cooperation in this field. Presently, Seychelles’ main items of import from India are rice, miscellaneous food products, cement, linen, cotton, vehicles and associated transport equipments, medicines, instruments and appliances for medical, surgical & dental use. The total imports from India in 2014 was US$ 43.80 million (approx.), while total exports to India in 2014 was only US$ 0.023 million (approx.). Among Indian companies present in Seychelles, Bank of Baroda has been maintaining a successful overseas branch in Victoria since 1978 and is doing a profitable business. A major private investment from an Indian company has been that of M/s. Bharti Airtel Telecom group, which has invested over US$25 million and set up the Airtel mobile telephone and internet services in Seychelles since 1998. TATA has so far supplied (Jan 2014) most of the fleet of buses for Seychelles to ply between its capital city Victoria and other regions of Mahé Island. In pursuance of an MoU signed in September 2014, Air Seychelles launched thrice-weekly direct flights between Mahé and Mumbai on 2 December 2014 (frequency increased to four flights a week in April 2015). The direct air connectivity is expected to boost bilateral trade and investment, flow of tourist traffic and people-to-people contact.
Commercial Relations. Except as disclosed in Schedule 2.16, no Group Companies have been informed as of the date hereof that any customer or supplier of any Group Company has decided or intends to cease, reduce or otherwise adversely modify, whether immediately or in the future, its commercial relationship with any Group Company for any reason, including as a result of the Transaction.
Commercial Relations. ARTICLE 261 . The capitulatory regime resulting from treaties, conventions or usage shall be re-established in favour of the Allied Powers which directly or indirectly enjoyed the benefit thereof before August 1, 1914, and shall be extended to the Allied Powers which did not enjoy the benefit thereof on that date.
Commercial Relations. (a) Schedule 11.17(a) (List of Commercial Agreements) provides a true and complete list of (i) all agreements executed during each of the years ended December 31, 2012, 2013 and 2014, whether in writing or oral, explicit or implicit, between the Group Companies, on the one hand, and their suppliers or distributors, on the other hand whereby the suppliers or distributors received annual revenues exceeding €50,000 (fifty thousand euros) for any given year and (ii) all agreements executed during each of the years ended December 31, 2012, 2013 and 2014, whether in writing or oral, explicit or implicit, between the Group Companies and their customers whereby the Group Companies received revenues exceeding €100,000 (one hundred thousand euros) for any given year.
Commercial Relations. 9.16.1. There are no agreements that may oblige any Group Company, whether immediately or in the future, to accept imposed purchase prices or any restrictions whatsoever on their freedom to do business.
Commercial Relations. 12.1 Company shall forward to Millennium Biotechnologies any inquiries and possible opportunities that it may receive for sales of the Product in the Territory for the Medical Market. Similarly, Millennium Biotechnologies shall forward to Company any inquiries and possible opportunities that it may receive for sales of the Product other than in the Territory for the Medical Market.
Commercial Relations. (a) Except as disclosed in Exhibit 6.16(a)(i) all sales to customers and all supply agreements concluded by any of the Companies within the past five (5) years have been concluded without an explicit waiver by such Company of its relevant general terms and conditions. Complete and accurate copies of the general terms and conditions of all Companies are attached as Exhibit 6.16(a)(ii). None of the Companies is party to any agreements which oblige it in the future to accept unilaterally imposed purchase prices.
Commercial Relations. ONGC of India - Videsh Ltd. (OVL) made an investment of about US$ 2.5 billion (spread over Sudan and South Sudan) in the hydrocarbon sector since 2003. It has 25% Participating Interest (PI) in Greater Pioneer Operating Company Ltd. (GPOC) [Block 1, 2 and 4] in consortium with CNPC of China, Petronas of Malaysia and Sudapet of Sudan. ONGC also has 24.125% PI in Block 5A in the consortium of Sudd Petroleum Operating Company (SPOC) with PETRONAS and Sudapet. Production of crude oil was disrupted since 2013 due to outbreak of civil war in the country. Upon signing of Revitalized Peace Agreement between the Government and opposition rebels in September 2018, the oil production has been revived at a minimal level. It is presumed the pre-war level of 3,20,000 pbd production could be achieved by early 2020. India's trade with South Sudan is very sparse. The main items of Indian imports from South Sudan are oil and timber and India's exports mainly comprise of consumer and household goods, food items, pharmaceuticals, two and three wheelers. As Indian trade is mainly through third countries (Uganda, Kenya, UAE), precise data is not available. South Sudan's estimated global imports in 2016 (up to which data is available) were US$ 348 Million and exports approximately US$ 1.3 billion, with China, Uganda and Kenya being the major trading partners. Indian trade with South Sudan from 2016 to 2018 as below: 2016-17: Import = 0.18 million; Export = 3.24 million 2017-18: Import = 7.56 million; Export = 3.54 million 2018-19: Import = 89.97 million; Export = 10.53 million Some Indian companies are operating in the area of construction, borehole drilling, printing, trading and services to the oil industry. Indians also run small hotels and supermarkets in Juba. They are mostly concentrated in Juba, the capital city.
