Initial Registration Completion Sample Clauses

Initial Registration Completion. It is expected that construction of the basement floors of the Building will be completed in 2025, and Capping and Construction Completion will occur in 2026 and 2027 respectively. Prior to the confirmation of the final Entitlement Ratios of the parties, the Entitlement of each party of the Building will be calculated from time to time based on the RMB3.1 billion deemed commitment of Guangzhou Xingchengsi and the RMB2.8 billion estimated commitment of Guangdong Zhongwei, as adjusted by any changes on such estimates and changes in the commitments of the parties pursuant to the terms of the Cooperation Agreement. After obtaining the pre-sale approval for the Project, Guangdong Zhongwei and Guangzhou Xingchengsi may sell the units allocated to them pursuant to the Units Allocation (the ‘‘Property Sales’’), and the sale proceeds will be collected by the Project Company and distributed to the relevant parties (net of costs of sales) according to the terms of the Cooperation Agreement. Changes in voting rights of the parties in the Project Company : The parties’ voting rights in the Project Company shall be proportionate to their respective Entitlement Ratios before Capping. Upon Capping, the voting rights will be changed to 51% and 49% respectively; upon Construction Completion, the voting rights will be changed to 95% and 5% respectively; and upon completion of the Third Proposed Disposal, Guangzhou Xingchengsi will cease to have any voting rights in the Project Company. Liabilities on general default : Prior to the First Loan Provision, in the event of breach of the Cooperation Agreement by Guangdong Zhongwei, the Xxxxxxx Money will be forfeited by the Project Company; and in the event of breach by Guangzhou Xingchengsi or the Project Company, liquidated damages doubled the amount of the Xxxxxxx Money shall be paid to Guangdong Zhongwei. Upon the First Loan Provision, if Guangdong Zhongwei fails to make any Loan Provisions to the Project Company in accordance with the payment schedule under the Cooperation Agreement for more than 10 working days, Guangdong Zhongwei shall pay liquidated damages of 0.01% of the amount of the outstanding Loan Provision to Guangzhou Xingchengsi for each day of delay. Similarly, Guangzhou Xingchensi shall pay liquidated damages at the same rate if its breach caused monetary damages to Guangdong Zhongwei or the Project Company. Liabilities on material default Material default by Guangdong Zhongwei In the event of material breach by...
Sample 1
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Related to Initial Registration Completion

  • WHEREAS the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

  • NOW, THEREFORE the parties hereto agree as follows:

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.

  • Miscellaneous The Vendor acknowledges and agrees that continued participation in TIPS is subject to TIPS sole discretion and that any Vendor may be removed from the participation in the Program at any time with or without cause. Nothing in the Agreement or in any other communication between TIPS and the Vendor may be construed as a guarantee that TIPS or TIPS Members will submit any orders at any time. TIPS reserves the right to request additional proposals for items or services already on Agreement at any time.

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • Definitions For purposes of this Agreement:

  • Assignment This Agreement and all rights and obligations hereunder may not be assigned without the written consent of the other party.

  • Notices Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.

  • Entire Agreement This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

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