Ownership of the Leased Assets. 3.1 During the Lease Term, the ownership of the Leased Assets as listed in the Appendix to this Agreement, including any parts and components, replacement CONFIDENTIAL TREATMENT REQUESTED BY CONCORD MEDICAL SERVICES HOLDINGS LIMITED parts, attached parts and auxiliary parts of (or to be attached to) the Leased Assets, shall always belong to Party B. During the Lease Term, Party A shall only enjoy the right to use the Leased Assets. Party A may not sell, transfer, sub-lease, mortgage, or make investment by means of, the Leased Assets, or otherwise conduct any other action that may infringe Party B’s rights and benefits. Otherwise, Party A shall assume corresponding breach of contract liabilities.
Ownership of the Leased Assets. The ownership of the Leased Assets under the Finance Lease Agreement will be vested in CDB Leasing throughout the lease period. At the end of the lease period and subject to payments by AYYG of (i) all amounts due under the Finance Lease Agreement; and (ii) a nominal consideration of RMB100 for the Leased Assets, the ownership of the Leased Assets will be vested in AYYG. The estimated aggregate lease payments under the Finance Lease Agreement were determined after arm’s length negotiations between parties to the Finance Lease Agreement by reference to the principal amounts of the lease and the prevailing market interest rate for finance lease of comparable machines, equipment and ancillary facilities.
Ownership of the Leased Assets. 3.1 During the Lease Term, the ownership of the Leased Assets as listed in the Appendix to this Agreement, including any parts and components, replacement parts, attached parts and auxiliary parts of (or to be attached to) the Leased Assets, shall always belong to Party B. During the Lease Term, Party A shall only enjoy the right to use the Leased Assets. Party A may not sell, transfer, sub-lease, or set mortgage over the Leased Assets or dispose the Leased Assets as investment, and may not conduct any other actions that may infringe Party B’s rights and benefits. Otherwise, Party A shall take the corresponding liabilities for breach of the Agreement.
Ownership of the Leased Assets. The ownership of the Leased Assets under the Finance Lease Agreement will be vested in XXX Leasing throughout the lease period. At the end of the lease period and subject to payments by XXXX of (i) all amounts due under the Finance Lease Agreement; and (ii) a consideration of RMB75,328,000 for the Leased Assets, the ownership of the Leased Assets will be vested in XXXX. THE CONSULTANCY AGREEMENT On 29 August 2017, XXXX entered into the Consultancy Agreement with XXX Xxxxxxx, pursuant to which XXXX agreed to engage XXX Xxxxxxx for providing certain consultancy services relating to the Leased Assets, which includes, among others, valuation of assets and supervision on the operation of the Leased Assets at a total services fee of RMB7,480,000. The estimated aggregate lease payments under the Finance Lease Agreement and the service fee under the Consultancy Agreement were determined after arm’s length negotiations between XXX Xxxxxxx and XXXX by reference to the principal amounts of the lease and the prevailing market interest rate for finance lease of comparable machines, equipment and ancillary facilities.
Ownership of the Leased Assets. (a) Landlord and Tenant acknowledge and agree that: (i) the Leased Assets are the property of Landlord; (ii) Tenant has only the right to the possession and use of the Leased Assets upon the terms and conditions of this Master Lease; (iii) this Master Lease is a “true lease,” is not a financing lease, capital lease, mortgage, equitable mortgage, deed of trust, trust agreement, security agreement or other financing or trust arrangement, and the economic realities of this Master Lease are those of a true lease; (iv) the business relationship created by this Master Lease and any related documents is and at all times shall remain that of landlord and tenant; (v) each Party has entered into this Master Lease in reliance upon the mutual covenants, conditions and agreements contained herein; (vi) the Rent is the fair market rent for the use of the Leased Assets, and the execution and delivery of; (vii) the performance by Tenant of its obligations under, this Master Lease does not constitute a transfer of all or any part of the Leased Assets; and (viii) none of the agreements contained herein is intended, nor shall the same be deemed or construed, to create a partnership between Landlord and Tenant, to make them joint venturers, to make Tenant an Affiliate, agent, legal representative, partner, subsidiary or employee of Landlord, or to make Landlord in any way responsible for the debts, obligations or losses of Tenant.
Ownership of the Leased Assets. China Coop Mengda has the ownership of the Leased Assets during the lease term. During the lease term, Customer A shall have the right to occupy and use the Leased Assets. Customer A shall be responsible for the maintenance and repair of the Leased Assets and the related expenses and shall also bear the risk and rewards of ownership of the Leased Assets. Upon expiry of the lease term, given that Customer A has made full payment of the rental payment and paid an agreed nominal amount of RMB 100 (equivalent to approximately HK$125), the ownership of the Leased Assets shall vest in Customer A. In the event that Customer A has not paid such nominal amount, Customer A shall pay a penalty of 10% of the total consideration of the Lease Assets to China Coop Mengda.
Ownership of the Leased Assets. II During the lease period, the legal ownership of the Leased Assets II under the Finance Lease Agreement II will be vested in Hebei Financial Leasing and Xxxxxxxx Xxxxxxxxx will have the rights to use the Leased Assets II. At the end of the lease period and subject to payments by Xxxxxxxx Xxxxxxxxx of all amounts due under the Finance Lease Agreement II, the legal ownership of the Leased Assets II will be vested in Xxxxxxxx Xxxxxxxxx at nil consideration. The estimated aggregate lease payments under the Finance Lease Agreement II were determined after arm’s length negotiations between the parties to the Finance Lease Agreement II with reference to the principal amounts of the lease or the consideration for the Leased Assets II under the Finance Lease Agreement II and the prevailing market interest rate for finance lease of comparable assets. THE FINANCE LEASE AGREEMENT III On 28 April 2023, Xxxxx Xxxxxxxx, as lessee, and Hebei Financial Leasing, as lessor entered into the Finance Lease Agreement III, pursuant to which Hebei Financial Leasing shall purchase the Leased Assets III from Feixi Zhonghui for a total consideration of RMB100,000,000. The Leased Assets III would then be leased back to Xxxxx Xxxxxxxx for a term of 10 years. The legal ownership of the Leased Assets III under the Finance Lease Agreement III will be vested in Hebei Financial Leasing throughout the lease period. At the end of the lease period and subject to payments by Xxxxx Xxxxxxxx of all amounts due under the Finance Lease Agreement III, the legal ownership of the Leased Assets III will be vested in Feixi Zhonghui at nil consideration. A summary of the principal terms of the Finance Lease Agreement III is set out below: Sale and purchase arrangements and consideration Pursuant to the Finance Lease Agreement III, Hebei Financial Leasing would purchase the Leased Assets III from Feixi Zhonghui for a total consideration of RMB100,000,000. The consideration would be payable in cash by Hebei Financial Leasing to Xxxxx Xxxxxxxx, which was determined after arm’s length negotiations between parties to the Finance Lease Agreement III by reference to the prevailing market price of the Leased Assets III. The total consideration would be payable by Hebei Financial Leasing in two tranches after the fulfillment of certain conditions precedent as set out in the Finance Lease Agreement III.
Ownership of the Leased Assets. During the lease period, the ownership of the Leased Assets shall be vested in the Harbin Electric Finance Lease Company. If the Lessees have properly and fully performed all obligations under the Finance Lease Agreements, upon the expiry of the Finance Lease Agreements, Harbin Electric Finance Lease Company will transfer the Leased Assets to the Lessees at the consideration of RMB100 in nominal value. Guarantee The guarantee arrangements for the Finance Lease Agreement I and the Finance Lease Agreement II are set out below:
Ownership of the Leased Assets. During the Lease Period, the legal ownership of the Leased Assets under the Finance Lease Agreement will be vested in CIMC Capital and Xxxxx Xxxxxxxx will have the rights to use the Leased Assets. At the end of the Lease Period and subject to payments by Xxxxx Xxxxxxxx of (i) all amounts due under the Finance Lease Agreement; and (ii) a nominal consideration of RMB100 for the Leased Assets, the legal ownership of the Leased Assets will be vested in Xxxxx Xxxxxxxx. The estimated aggregate lease payments under the Finance Lease Agreement were determined after arm’s length negotiations between the parties to the Finance Lease Agreement with reference to the principal amount of the lease or the consideration for the Leased Assets under the Finance Lease Agreement and the prevailing market interest rate for finance lease of comparable assets. The Finance Lease Arrangement and the transactions contemplated thereunder have been agreed under normal commercial terms and after arm’s length negotiations between the relevant parties and provide the Group with general working capital. The Directors therefore consider that the terms of the Finance Lease Arrangement and the transactions contemplated thereunder are fair and reasonable and in the interests of the Company and the Shareholders as a whole.
Ownership of the Leased Assets. (a) It is the intent of the parties hereto that: (i) this Lease constitutes an operating lease from the Lessor to the Lessee for the purposes of the Lessee's financial reporting, (ii) the Lease and other transactions contemplated hereby shall be treated as a financing arrangement, and Lessee shall be treated as the owner of each Leased Asset for Federal, State and local and other income and property tax and bankruptcy purposes and (iii) the obligations of the Lessee to pay Base Rent and any part of the Lease Balance shall be treated as payments of interest and principal, respectively, for Federal, State, local and other income tax and bankruptcy purposes and the Lessee alone shall be entitled to take any deduction, credit allowance or other reporting, filing or other tax position consistent with such characterizations. The Lessee has granted a mortgage lien on and security interest in all of its right, title and interest in and to each Leased Asset to, or for the benefit of, the Lessor, pursuant to each Mortgage made by Lessee, to secure the payment and performance by the Lessee of all of its obligations under the Lease and the other Operative Documents that are attributable or allocable to the Lessor Contribution of the Advances comprising the Lease Balance for such Leased Assets. Each of the parties hereto agrees that it will not, nor will it permit any Affiliate to at any time, take any action or fail to take any action, including any action with respect to the preparation or filing of any income tax return, including an amended income tax return, to the extent that such action or such failure to take action would be inconsistent with the intention of the parties expressed in this Section 30.1.
