Examples of Existing Cap in a sentence
On 15 May 2014, the Company entered into the Supplemental Agreement with Zhuangbei Finance to revise the Existing Cap for the year ending 31 December 2014 from RMB100,000,000 to RMB500,000,000.
As for the four months ended 30 April 2014,which is only one-third of the year, the ultilisation rate of the Existing Cap had reached approximately 82.00% already.
Nevertheless, with CNI23 Huadong Branch having obtained additional projects which require relevant technical consultancy and project management services from CNI23 (Nanjing) and CNI23 Energy, the Board considered that the Huadong Existing Cap would no longer be sufficient and therefore the Board has proposed to revise the Huadong Existing Cap to cover the estimated additional transaction amount under the Third Technical Consultancy Agreement pursuant to the CNI23 (Nanjing) Framework Agreement.
Having considered (i) the above reasons for the Cap Revision; (ii) the substantial growth in revenue of the Group; and (iii) the high utilisation rates of the Existing Cap for the two financial years ended 31 December 2013 and the four months ended 30 April 2014, we concur with the Directors that the Cap Revision is in the interests of the Company and the Shareholders as a whole and are conducted in the ordinary and usual course of business of the Group.
Existing Cap While source control efforts continue, the existing cap will be monitored and any necessary work to maintain the cap completed.
As such, only RMB18 million of the Existing Cap of 2014 is remained for the eight months ending 31 December 2014 if the Existing Cap for the year ending 31 December 2014 not being revised.
Revision of the aggregate transaction amount as contemplated under the Supplemental Contract relate only to the revision of the maximum transaction amount for the period from 1 April 2021 to 31 December 2021 from RMB600,000,000, i.e. the Existing Cap, to RMB770,000,000, i.e. the Revised Cap.
The Huadong Existing Cap was approved by the CNI Independent Shareholders at the special general meeting of the Company held on 21 June 2013 and the transactions contemplated under the First Agreements and the Second Agreements have been substantially completed as at the Latest Practicable Date.
Date4 January 2007PartiesThe Company (as seller) and Taiwan Vedan (as buyer)Revised CapThe aggregate amount of sales of the Products to the Taiwan Vedan Group for the period from 1 January 2006 up to 31 October 2006 is within the Existing Cap.
Upon comparison on a pro-rata basis of 12 month/11.5 month, we note that such historical transaction amount already accounts for approximately 63% of the Huadong Existing Cap of RMB330,000 for the year ending 31 December 2013.