CR Products definition
Examples of CR Products in a sentence
For the avoidance of doubt, the Group will not re-sell the CR Products purchased to CR Care and CR Care will not re-sell the Tycoon Products purchased to the Group.
On 15 December 2023, the Company and CR Care entered into the Master Sale and Purchase Agreement, pursuant to which (i) the Company, for itself and on behalf of its subsidiaries, conditionally agrees to purchase and CR Care conditionally agrees to sell the CR Products, and (ii) the Company, for itself and on behalf of its subsidiaries, conditionally agrees to sell and CR Care conditionally agrees to purchase the Tycoon Products.
Based on the current procurement plan of the Group, all CR Products to be purchased by the Group are available from other independent suppliers.
CR Products to be purchased by the Group under the Master Sale and Purchase Agreement are mainly products manufactured/distributed by CR Care.
To CR’s Knowledge, the conduct of the business of the CR Group as such business is currently conducted, including the design, development, marketing and sale of CR Products and services: (i) does not infringe, misappropriate or otherwise violate the Intellectual Property Rights of any third party; and (ii) does not constitute unfair competition or unfair trade practices under the Laws in the United States.
The price of the CR Products to be purchased by the Group will not be higher than that of similar products distributed by the Group (to the extent comparable is available for comparison purpose).
In connection with the sale and purchase of Tycoon Products and CR Products, the Group or, as the case may be, CR Care (the party who is purchasing the relevant products shall be referred to as “Purchasing Entity”) shall send a written request for quotation (“Quotation Request”) to CR Care or, as the case may be, the Group (the party who is selling the relevant products shall be referred to as “Supplying Entity”), which shall contain relevant details of the products.
Given that there is no minimum purchase amount fixed in the Master Sale and Purchase Agreement and the Group is entitled to select which CR Products that it wishes to place order for, the Group may elect not to place any order if the overall commercial terms are not commercially attractive to the Group.
Pursuant to the Master Sale and Purchase Agreement, (i) the Company, for itself and on behalf of its subsidiaries, conditionally agrees to purchase and CR Care conditionally agrees to sell the CR Products, and (ii) the Company, for itself and on behalf of its subsidiaries, conditionally agrees to sell and CR Care conditionally agrees to purchase the Tycoon Products.
In assessing whether the actual transaction prices and terms of the CR Products are reasonable and no less favourable to the Group than those offered by other independent third party suppliers, the Group will take into account (i) whether the products can be sourced from other independent suppliers; and (ii) if so, the quotations (including prices and payment terms) in respect of such products in such volume from other independent suppliers.