Transaction Principles Sample Clauses
Transaction Principles. 2.1 Specific agreements may be separately entered into between the respective Parties, that is Party A (and its associates) and Party B (and its affiliates), for specific products and services in accordance with the scope of this Agreement. Both Parties agree to implement the contracts under this Agreement pursuant to the following principles:
2.1.1 the products and services to be provided shall be of satisfactory quality to the recipient;
2.1.2 the pricing of the products and services to be provided shall be fair and reasonable;
2.1.3 the terms and conditions of the products and services provided by Party A to Party B shall be more favourable than those provided by the independent third parties; and
2.1.4 the terms and conditions of the products and services provided by Party B to Party A shall be no less favourable than those provided by Party B to the independent third parties.
Transaction Principles. 2.1 The Parties hereby agree that Party A shall provide Party B and its subsidiaries financial services under Section 1.1 of this Agreement in accordance with the following principles:
(1) Provision of settlement services: Party A will provide settlement services to Party B and its subsidiaries on a free-of-charge basis;
(2) Provision of depositary services: when Party A provides depositary services to Party B and its subsidiaries, the interest rates must be agreed by both parties and determined in accordance with the relevant unified standard deposit interest rates as promulgated by the People’s Bank of China (the “PBOC”) from time to time and may be subject to upward adjustment of up to 40% of such PBOC standard deposit interest rates subject to the requirements of the PRC laws and regulations and with reference to the deposit interest rates offered by commercial banks for deposit of the same nature and maturity;
(3) Provision of discounting services: when Party A provides discounting services regarding commercial drafts to Party B and its subsidiaries, the interest rates are the relevant unified standard interest rates for discounting services as promulgated by the PBOC from time to time, and such interest rates may be adjusted downward in separate financial service agreements subject to the requirements of the PRC laws and regulations;
(4) Provision of loan services: when Party A provides loan services to Party B and its subsidiaries, the interest rates are the relevant unified standard interest rates for loans as promulgated by the PBOC from time to time; such interest rates may be adjusted downward subject to the requirements of the PRC laws and regulations. Further, the parties agreed that the loans provided by Party A to Party B and its subsidiaries are not required to be secured by assets of Party B and its subsidiaries; and
(5) Provision of entrustment loans services: when Party A provides entrustment loans services to Party B and its subsidiaries, the annual service fees are calculated based on the principal balances of the loans. The aggregate amount of the annual service fee plus the interest on the relevant loan shall not exceed the interest payable by Party B and its subsidiaries on a loan of same maturity charged by commercial banks.
2.2 Party B and its subsidiaries shall have the right, in their sole discretion with respect to their own benefits, to decide whether to obtain services set forth above from Party A.
2.3 In the event of any mis...
Transaction Principles. The basic transaction method of the Transaction is the termination of the Existing VIE Agreement between ▇▇▇▇▇ ▇▇▇▇▇▇ and Foshan Viomi and its shareholders, which will enable the Purchaser to beneficially acquire 100% equity interests in Foshan Viomi and indirectly acquire equity interests in Qutansuo, Foshan Xiaoxian, AI Touch and Zhuawa through Foshan Viomi, so as to realize the divestment of the Target Business operated by the Subject Company from the Group Company’s business system. Prior to the settlement date of the Transaction, Guangzhou Interconnect, Foshan Viomi and Zhumeng Hulian, a wholly-owned subsidiary of the Seller, entered into a set of new VIE Agreements, which enabled Foshan Viomi to no longer retain control over Interconnect and the Seller to realize the agreed control over Guangzhou Interconnect. The consideration for the Transaction will be paid by the Purchaser through Foshan Viomi to Guangzhou Interconnect by way of paid in capital. In addition, as there are certain intersections between the Subject Company and other group companies in terms of business, assets and personnel, etc., in order to ensure the smooth implementation of the Transaction, the Seller has engaged a third-party professional organization to sort out, split and evaluate the assets and business of the Subject Company and other group companies. The parties agree that the group company will transfer all assets, personnel, contracts, debts and liabilities related to the target business but not attributable to the name of the subject company to the subject company. Transfer of assets, personnel, contracts, debts and liabilities related to non-target business held by the subject company to a group company designated by the seller.
Transaction Principles