Master Supply and Installation Agreement Sample Clauses

Master Supply and Installation Agreement. On [●], our Company (for ourselves and on behalf of our other subsidiaries) entered into a master supply and installation agreement with Jinke Property (for itself and on behalf of other members of Jinke Property Group and its associates) (the “Master Supply and Installation Agreement”), pursuant to which our Group agreed to (i) supply (a) intelligent systems, including but not limited to access control and surveillance systems, parking lot intelligent management systems, smart home systems and intercom systems; (b) community unmanned retail system; and (c) multimedia display system; (the “Systems”); and (ii) provide related installation and maintenance services (the “System Supply and Installation Services”). The Systems include software systems and equipment. The Master Supply and Installation Agreement has a term commencing from the [REDACTED] until December 31, 2022. For each of the years ended December 31, 2017, 2018 and 2019 and the six months ended June 30, 2020, the total amount of fees payable by Jinke Property Group and its associates for the System Supply and Installation Services provided by our Group amounted to approximately RMB6.4 million, RMB9.1 million, RMB24.4 million and RMB24.4 million, respectively. After the establishment of Tianzhi Huiqi in October 2016, we commenced the business of smart living technology solutions in 2017 with limited capacity. The total amount of fees payable by Jinke Property Group and its associates for the System Supply and Installation Services was substantially increased in 2019, which was primarily attributable to (i) the rapid business expansion of our smart living technology solutions; and (ii) the increased demand of smart living technology solutions from Jinke Property Group and its associates. The fees to be charged for the System Supply and Installation Services will be determined on arm’s length basis with reference to the prevailing market price (taking into account the location and the conditions of the properties, the costs for research and development, and the anticipated operational costs including labor costs and material costs) and the prices charged by our Group for similar services provided to the Independent Third Parties. Our Directors estimate that the maximum annual fee payable by Jinke Property Group and its associates in relation to the System Supply and Installation Services for each of the three years ending December 31, 2022 will not exceed RMB44.0 million, RMB70.4 million and RMB105...
Sample 1
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Related to Master Supply and Installation Agreement

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