OSIL definition
Examples of OSIL in a sentence
As no commercial activities are planned to be conducted by the CPP Group at the non-feed production facilities after their completion, such facilities would remain idle and would not generate any income for the relevant subsidiary despite the capital expenditure already incurred, if not rented to the OSIL Group.
The Directors consider that the New Master CPP Supply Agreement will enable the CPP Group to expand its already extensive distribution network and strong customer base by securing OSIL Group and its related entities as additional customers for the CPP Group’s products.
Shareholder understands and acknowledges that each of OIL, OTI and OSIL is entering into the Share Exchange Agreement in reliance upon Shareholder’s execution, delivery and performance of this Agreement.
The Directors consider that the Revised Annual Caps which will need to be in place to allow the relevant newly completed non-feed production facilities to be included in the facilities to be rented to the OSIL Group under the Master Business Carve-out Agreement will enable the CPP Group include the newly completed facilities in the existing leasing arrangements and thereby to increase its income.
OSIL and Newco acknowledge and agree that the Sellers have entered into this Agreement in reliance on the warranties and representations and other terms and conditions of this Agreement notwithstanding any independent searches or investigations that may be undertaken by or on behalf of the Sellers and that no information which is known to any of the Sellers and CHI or their professional advisers will limit or extinguish the right to indemnification hereunder.
From the date of this Agreement until the Closing, except as otherwise expressly provided for in this Agreement or except to the extent OSIL otherwise consents, (i) Majority Shareholders shall cause CHI to be operated in the ordinary course of business and (ii) Majority Shareholders shall cause CHI to use commercially reasonable efforts to preserve intact its business organizations and relationships with Persons doing business with CHI.
It is proposed that the Revised Annual Caps for the annual rental/fee payable to the CPP Group by the OSIL Group under the Master Business Carve-out Agreement for each of the financial years ending 31 December 2011 and 31 December 2012 are RMB25.9 million (approximately HK$29.8 million) and RMB28.0 million (approximately HK$32.2 million).
Information on the historical transactions between the CPP Group and OSIL related entities in relation to the supply of the CPP Supply Products for the years ended 31 December 2007, 2008 and 2009 and the eight months ended 31 August 2010 is RMB771.3 million (approximately HK$886.6 million), RMB1,141.2 million (approximately HK$1,311.7 million), RMB1,372.3 million (approximately HK$1,577.4 million) and RMB1,320.2 million (approximately HK$1,517.8 million), respectively.
COMPANY is not liable for any of CONTRACTOR's income taxes, withholding taxes, franchise tax minimum, alternative minimum tax, inventory based taxes, ad valorem taxes, property taxes or any TAXES imposed by law on CONTRACTOR that are prohibited by law from being passed on to COMPANY.
The maximum aggregate annual rental/fee payable by the CPP Group to the OSIL Group and/or its related entities under the Renewed Master Lease Agreement for each of the financial years ending 31 December 2013, 31 December 2014 and 31 December 2015 are RMB37.1 million (approximately US$5.9 million), RMB38.9 million (approximately US$6.2 million) and RMB40.8 million (approximately US$6.5 million) respectively.