Supplemental Xi’an Land Lease Agreement Sample Clauses

Supplemental Xi’an Land Lease Agreement. Pursuant to the Existing Xi’an Land Lease Agreement entered into on 6 November 2015 between BYD Auto (a 99% directly owned subsidiary of BYD) and BYD Xi’an (an indirect wholly-owned subsidiary of the Company), BYD Auto has agreed to lease to BYD Xi’an certain land situated at 西 安 市 高 新 區 新 型 工 業 園 亞 迪 路 二 號 (2 Yadi Road, Xinxing Industrial Area, Gaoxin District, Xi’an City*), with an aggregate area of approximately 26,000 square metres at a monthly rental of RMB78,000, settled on a monthly basis, for a term commencing from 1 January 2016 to 31 December 2018. On 28 April 2017, BYD Auto and BYD Xi’an entered into the Supplemental Xi’an Land Lease Agreement to adjust (i) the aggregate leasing area under the Existing Xi’an Land Lease Agreement to not exceeding 28,600 square metres and; (ii) the monthly rental to not exceeding RMB143,000, with effect from 1 May 2017. Save as disclosed above, all other terms and conditions of the Existing Xi’an Land Lease Agreement remain unchanged. The Group entered into the aforesaid Supplemental Lease Agreements under paragraphs (i) 1 to 5 above after comprehensively taking into consideration, among others, the change in business operation needs of the Group, the increase in rentals for factory, premises and land in relevant areas in the PRC, the difference between the current rental and the prevailing market price of leases of comparable factories and premises and land (as the case may be) in the relevant areas in the PRC, which is significantly higher than the rentals under the Existing Lease Agreements and the increase in BYD Group’s costs and expenses in renting the relevant factories, premises and land (as the case may be) to the Group. In determining the adjusted rentals under the Supplemental Lease Agreements, the Group made reference to market prices of leases of comparable factories, premises and land and conducted site visits. The Group took into consideration a range of relevant factors (such as location, size, transportation, construction and utility facilities of the properties) to determine whether the properties were suitable for the Group in order to safeguard the interests of the Group. Our Directors are of the view that the aforesaid method and procedures can ensure that the Continuing Connected Transactions contemplated under the Supplemental Lease Agreements will be conducted on normal commercial terms or better to the Group and not prejudicial to the interests of the Company’s minority Shareholders.
Sample 1
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Related to Supplemental Xi’an Land Lease Agreement

  • Lease Agreement On the terms stated in this Lease, Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord, for the Term beginning on the Commencement Date and ending on the Termination Date unless extended or sooner terminated pursuant to this Lease.

  • New Lease In the event of the termination of this Lease as a result of Tenant's default prior to the expiration of the term, or in the event of a rejection by Landlord or Tenant of this Lease under Chapter 11 of the Bankruptcy Code, Landlord shall, in addition to providing the notices of default and termination as required by this Lease, provide each Leasehold Mortgagee with written notice that the Lease has been terminated or that Landlord has filed a request with the Bankruptcy Court seeking to reject the Lease, together with a statement of all sums which would at that time be due under this Lease but for such termination or rejection, and of all other defaults, if any, then known to Landlord. Upon any request of the Leasehold Mortgagee, or its designee, Landlord agrees to enter into a new lease ("New Lease") of the Premises with such Leasehold Mortgagee or its designee for the remainder of the term of this Lease, effective as of the date of termination or rejection, as the case may be, at the Rent, and upon the terms, covenants and conditions (including all transfer rights, but excluding requirements which are not applicable or which have already been fulfilled) of this Lease; provided, however, that (i) the Leasehold Mortgagee whose lien upon the Premises is superior to the lien of any other Leasehold Mortgage (the "Senior Leasehold Mortgagee") shall have the right to give notice of its intent to enter into a New Lease to the Landlord for a period of 60 days from its receipt of the notice referred to in the first sentence of this Section 18.2.18 and (ii) if the Senior Leasehold Mortgagee does not exercise its right to enter into the New Lease during this 60-day period; the Leasehold Mortgagee whose lien upon the Premises is superior to the lien of any other Leasehold Mortgage (other than the Senior Leasehold Mortgagee) shall have the right to give notice of its intent to enter into a New Lease to the Landlord during the remainder of the period(s) specified below; and provided further, however,

  • Agreement to Lease Landlord agrees to lease to Tenant and Tenant agrees to lease from Landlord, according to the terms and conditions set forth herein, the Premises.

  • MASTER LEASE A. All the obligations contained in the Master Lease conferred and imposed upon Sublessor (as Tenant therein) shall be borne by Sublessor and Sublessee in accordance with the Sublessor's Percentage and the Sublessee's Percentage, respectively, except as modified and amended by this Sublease, and all rights and privileges contained in the Master Lease conferred upon Sublessor (as Tenant therein), are hereby conferred and imposed upon Sublessee, to the extent of Sublessee's Percentage. Sublessor covenants and agrees it will make payment of the rentals reserved under the Master Lease as and when due, will perform Sublessor's insurance obligations under the Master Lease, and will otherwise fully and faithfully perform the terms and conditions of the Master Lease with respect to the Sublessor's Percentage. Sublessee covenants and agrees to otherwise fully and faithfully perform the terms and conditions of the Master Lease and the Sublease on its part to be performed. Neither the Sublessor nor Sublessee shall do or cause to be done any act which would or might cause the Master Lease, or the rights of Sublessor as tenant under the Master Lease to be endangered, cancelled, terminated, forfeited or surrendered, or which would or might cause Sublessor to be in default thereunder or liable for any damage, claim or penalty. Sublessee agrees, as an express inducement for Sublessor executing this Sublease, that if there is any conflict between the provisions of the Master Lease and this Sublease which would permit Sublessee to do or cause to be done any act which is prohibited by the Master Lease then the provisions of the Master Lease shall prevail.

  • Memorandum of Lease Lessor and Lessee shall promptly upon the request of either enter into a short form memorandum of this Lease, in form suitable for recording under the laws of the State in which reference to this Lease, and all options contained herein, shall be made. Lessee shall pay all costs and expenses of recording such memorandum of this Lease.

  • Supplemental Agreement If the State finds that the work does constitute additional work, the State shall so advise the Engineer and a written supplemental agreement will be executed as provided in General Provisions, Article 6,

  • Supplemental Agreements The TIPS Member entity participating in the TIPS Agreement and awarded Vendor may enter into a separate Supplemental Agreement or contract to further define the level of service requirements over and above the minimum defined in this Agreement such as but not limited to, invoice requirements, ordering requirements, specialized delivery, etc. Any Supplemental Agreement or contract developed as a result of this Agreement is exclusively between the TIPS Member entity customer and the Vendor. TIPS, its agents, TIPS Members and employees not a party to the Supplemental Agreement with the TIPS Member customer, shall not be made party to any claim for breach of such agreement unless named and agreed by the Party in question in writing in the agreement. If a Vendor submitting a Proposal requires TIPS and/or TIPS Member to sign an additional agreement, those agreements shall comply with the award made by TIPS to the Vendor. Supplemental Vendor’s Agreement documents may not become part of TIPS’ Agreement with Vendor unless and until an authorized representative of TIPS reviews and approves it. TIPS review and approval may be at any time during the life of this Vendor Agreement. TIPS permits TIPS Members to negotiate additional terms and conditions with the Vendor for the provision of goods or services under the Vendor’s TIPS Agreement so long as they do not materially conflict with this Agreement. Survival Clause All applicable sales, leases, Supplemental Agreements, contracts, software license agreements, warranties or service agreements that were entered into between Vendor and TIPS or the TIPS Member Customer under the terms and conditions of this Agreement shall survive the expiration or termination of this Agreement. All Orders, Purchase Orders issued or contracts executed by TIPS or a TIPS Member and accepted by the Vendor prior to the expiration or termination of this agreement, shall survive expiration or termination of the Agreement, subject to previously agreed terms and conditions agreed by the parties or as otherwise specified herein relating to termination of this agreement.

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