Tenancy Agreement. The Standard Management Service includes the preparation of a tenancy agreement in the Agent's standard form(s) and provision of a copy of this agreement to a designated advisor or building society. Should the Landlord, advisors or mortgagees require amendment of the contract or require the Agent enter into further work or correspondence, a fee for this extra work may be requested (or you may have the tenancy agreement amended by your own adviser at your own expense). It is agreed that the Agent may sign the tenancy agreement(s) on behalf of the Landlord.
Tenancy Agreement. The Landlord shall provide the Agent with any requirements for return and repossession of the Property at the earliest opportunity. Landlords should be aware that any tenancy agreement entered into on the Landlord's behalf is a binding legal agreement for the term agreed. Details of any tenancy agreement being entered into will be communicated to the Landlord as soon as possible. Landlords should be aware that the legal minimum notice period to tenants under assured tenancies is generally two months (should the contract allow for early termination) and this needs to be given even in the case of a fixed term tenancy which is due to expire.
Tenancy Agreement. On April 16, 2009, Xxxxx Xxxxxxx entered into a two year and four month tenancy agreement (the “Tenancy Agreement”) with Longwei Hotel, whereby Longwei Hotel leased office premises with a total gross floor area of approximately 131.0 sq.m. to Huili Caitong at a monthly rent of RMB8,122.0 (exclusive of management fees, water and electricity charges) for the period from April 16, 2009 to August 14, 2011. Huili Caitong uses such office premises as its principle place of business and headquarters in the PRC. Longwei Hotel is owned as to 90.0% by Sichuan Jinli Property Development Co. Ltd () and 10.0% by an Independent Third Party. Sichuan Jinli is a limited liability company established in the PRC on July 26, 2001, owned as to 10.0% by Xxxxx Xxx, 9.7% by XXXX Xxx, 8.9% by XX Xxxxxxx and 5.2% by XX Xxxxxxx. Accordingly, Longwei Hotel is a connected person for the purposes of the Listing Rules. The monthly rent of RMB8,122.0 under the Tenancy Agreement is based on market rates. The Directors confirm that the rent under the Tenancy Agreement is fair and reasonable, and has been negotiated on an arm’s length basis and upon normal commercial terms. Xxxxx Xxxx LaSalle Sallmanns Limited, an independent property valuation firm, has also confirmed that the rent payable under the Tenancy Agreement is fair and reasonable and consistent with the prevailing market rates for similar premises in similar locations. As the size of the above office premises is relatively small, our Directors are of the view that our Group would be able to lease suitable replacement premises from Independent Third Parties in the same area without undue difficulty, should this be necessary. Based on the rent under the Tenancy Agreement, the Tenancy Agreement will constitute a de minimis transaction of our Group under Rule 14A.33 of the Listing Rules and, accordingly, the abovementioned continuing connected transaction of our Group will be exempted from reporting, announcement and shareholders’ approval requirements under chapter 14A of the Listing Rules.