Aideweixuan definition
Examples of Aideweixuan in a sentence
Aideweixuan shall make the first capital contribution of RMB100 million to the Partnership within 30 days upon the fulfillment of all the condition precedents as set out in the Partnership Agreement.
After the signing of the Partnership Agreement, Aideweixuan shall use reasonable endeavours to procure the satisfaction of all the condition precedents as set out in the Partnership Agreement as soon as practicable and in any event not later than 28 February 2021 (or such later date as agreed between the Parties).
The Board is pleased to announce that on 20 August 2020, Shanghai Boming and Aideweixuan, two indirect non-wholly owned subsidiaries of the Company, entered into the Limited Partnership Agreement with SHIVC Investment and Shanghai Innovital Technology to establish a partnership.
It is anticipated that the total capital commitments payable by Shanghai Boming and Aideweixuan will be funded by internal resources of the Group.
After the first installment of capital contribution has been paid by Aideweixuan, the rest of the Partners shall make the remaining capital contribution to the Partnership in accordance with the payment schedule and amount stated in the payment notice issued by the General Partners, failing which a late payment penalty of 0.5% will be incurred on the unpaid capital contribution.
Aideweixuan is a company incorporated in PRC with limited liability and is an indirectly non- wholly owned subsidiary of the Company.
As at the date of this announcement, the total amount of capital commitment to be contributed by the Partners is RMB402 million, each of Shanghai Boming and SHIVC Investment (as General Partners) committed to contribute RMB1 million respectively, while each of Shanghai Innovital Technology and Aideweixuan (as Limited Partners) committed to contribute RMB200 million respectively.