GCML definition
Examples of GCML in a sentence
This agreement defines the terms under which GCML and (Sponsor) enter into a sponsorship agreement for the GCML 2020 Golf Tournament.
Pursuant to the Investment Management Agreement, HCG agreed to authorize GCML Group to invest all or any portion of the Investment Portfolio in (i) any GCML Managed Fund or (ii) other direct investment or investment made in any non-affiliated commingled collective investment scheme or other investment to the extent permitted by the Investment Guidelines (including without limitation, secondary market investments and private equity investments) (the “Other Investments”).
As the Existing Investment Management Agreement is due to expire by the end of 2023, on 29 December 2023, GCML (a wholly-owned subsidiary of the Company) and HCG entered into the Investment Management Agreement in respect of the provision of investment management services by GCML Group to Hony Capital Group for a term of three years commencing from 1 January 2024 to 31 December 2026 (both dates inclusive).
GCML may from time to time make certain private equity investments with a view to ultimately realize an increase in value of its stake.
HCG agreed to pay management fees and performance fees to GCML in the rates set out below, or in such amended fees schedule (and amended payment terms, as applicable) provided to HCG with 30 days’ prior written notice by GCML.
The performance fee has been determined on arm’s length negotiations between GCML and HCG with reference to (i) the prevailing market rates charged by other investment managers of companies listed under Chapter 21 of the Listing Rules, (ii) the rates charged by GCML to other independent third party clients in respect of the provision of similar investment management services, and (iii) the responsibilities and duties of GCML under the Investment Management Agreement.
Golf has risks that players are aware and as such, all participants and sponsors agrees to hold GCML and its agents harmless in the event of injury, death arising from play.
As part of the ordinary and usual course of business of GCML, the GCML Group manages a number of GCML Managed Funds and solicit investments from external investors.
GCML may terminate this agreement at any time by notifying the sponsor in writing or by e-mail.
As the Existing Investment Management Agreement is due to expire on 31 December 2023, GCML and HCG entered into the Investment Management Agreement in relation to the provision of investment management services by GCML to HCG.