Examples of Entrustment Agreement in a sentence
Under the Entrustment Agreement for the SCL, the Government of the Hong Kong Special Administrative Region (“the Government”) is responsible for funding the construction of the SCL.
Pursuant to the XRL Preliminary Entrustment Agreement, the HKSAR Government is obligated to pay the Company the Company’s in-house design costs and certain on-costs, preliminary costs and staff costs.
Pursuant to the HSR Preliminary Entrustment Agreement, the Government is obligated to pay the Company the Company’s in-house design costs and certain on-costs, preliminary costs and staff costs.
Accordingly, the Liability Cap increases from up to HK$4.94 billion to up to HK$6.69 billion as the HSR Project Management Fee is increased in accordance with the HSR Agreement (as it will be equal to the increased HSR Project Management Fee under the HSR Entrustment Agreement of HK$6.34 billion plus the additional fees referred to above).
The HKSAR Government has the right to claim against the Company if the Company breaches the XRL Entrustment Agreement and, under the XRL Entrustment Agreement, to be indemnified by the Company in relation to losses suffered by the HKSAR Government as a result of any negligence of the Company in performing its obligations under the XRL Entrustment Agreement or breach by the Company of the XRL Entrustment Agreement.