Examples of Retained Properties in a sentence
In any sale, disposal, liquidation, transfer or dealing pursuant to this Clause or the Agreement, if less than all the Retained Properties are to be sold, disposed of, liquidated or transferred, the Bank shall in its absolute discretion select which part of the Retained Properties are to be sold, disposed of, liquidated, transferred or dealt with at any time and from time to time.
Notwithstanding anything contained in this Agreement to the contrary, the Company or any Subsidiary thereof will retain direct or indirect ownership of the Retained Properties, or, if the Company shall elect to sell or otherwise transfer any of the Retained Properties, it shall retain any and all proceeds received in connection therewith, and will not contribute any portion thereof to the Borrower or any other entity or distribute any portion thereof to any of its shareholders.
In light of the positive outlooks of the property market in Hong Kong, the Board considers it appropriate to keep the Retained Properties to generate a stable rental income.
The carrying value of the Retained Properties as at 29 February 2012 is approximately HK$62.76 million, which will be accounted for as investment properties in the Company’s accounts upon completion of the transfer.
The Multimedia Business is a new business venture, other than the income from bbTV news channel and the Retained Properties, the Remaining Business has not generated and is not expected to generate revenue, which will primarily comprise of advertising fees (assuming the Remaining Group is able to start broadcasting over its free TV channels or through alternative means) and licensing fees, until 2013, and the Group is expected to incur substantial capital expenditures before generating revenue or profit.