SAGIA definition

SAGIA means the Saudi Arabian General Investment Authority;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

SAGIA means the Saudi Arabia General Investment Authority. “SAGIA License” means the foreign investment license issued to the Company at Riyadh by SAGIA, number 993/2 dated 16/7/1428. “Sale Shares” has the meaning given in Clause 3.1, being 26,467,422 Shares of SAR 10 each. “SAR” has the meaning given in Clause 1.5(k). “Seller” has the meaning given in the preamble of this Agreement. “Seller’s Warranties” has the meaning given in Clause 9.1. “Shareholder Approval” has the meaning give in Clause 2.3. “Shareholders” means the shareholders in the Company from time to time. “Shares” means the ordinary and issued shares in the capital of the Company as at the date of this Agreement. “Short Form SPA” means the short form share purchase agreement in substantially the form agreed to be signed by the authorised representative of each of the Parties, to be attested before the Chamber of Commerce and to be submitted to SAGIA in connection with the amendment of the SAGIA License if required. “SIDF” means the Saudi Industrial Development Fund. “Surviving Provisions” means Clause 1 (Definitions and Interpretation), Clause 10 (Indemnifications; Remedies), Clause 12 (Further Assurances), Clause 15 (Termination), Clause 16 (Assignments), Clause 18 (Notices), Clause 21 (General), Clause 17 (Entire Agreement) and Clause 23 (Governing Law and Submission to Arbitration). “Tax” means income, excise, profits, excise, stamp, franchise, sales, use, occupation, property, ad valorem and payroll taxes or other taxes, fees, duties, withholding, or other charges of any nature whatsoever imposed by any Governmental Entity as a taxing authority and “Taxes” shall be construed accordingly. “Time Limit” has the meaning given in Clause 10.7. “Transaction” means the sale by Seller and the purchase by Purchasers of the Sale Shares in accordance with the terms of this Agreement. “Transaction Documents” means this Agreement, the Short Form SPA and any other documents that may need to be executed in accordance with this Agreement in order to implement or complete the Transaction. “Transfer Taxes” has the meaning given in Clause 11. “Updated Licence” has the meaning given in Clause 8.6. “Updated SAGIA Licence” has the meaning given in Clause 8.7. “Warranties” means the Seller’s Warranties and the Purchasers’ Warranties. “Warrantor” means the Party making the warranty. ANNEX II WIRING INSTRUCTIONS [intentionally omitted] SCHEDULE 1 SALE SHARES [intentionally omitted] SCHEDULE 2 WARRANTIES PART A: SELLER’...

SAGIA. Saudi Arabian General Investment Authority

Examples of SAGIA in a sentence

• A privately-owned US corporation operating in the KSA pursuant to a license from the KSA Government, or the KSA branch of a privately-owned US corporation licensed in the KSA by the Saudi Arabian General Investment Authority (SAGIA).

• Seller shall have the right to nominate a representative to attend any meeting with a Governmental Entity (including DMMR, SIDF, SAGIA and MOCI) and Purchasers and the Company shall ensure that Seller has reasonable notice ahead of any such meeting.

• The Company may further dispose of such shares, but this shall not include the brokerage of the sale of such shares after approval from the SAGIA and the Ministry of Commerce and Industry.

• Signing Shareholders resolutions for the formation of branches, appointing manager and signing such documents before the notary public and the Ministry of Commerce & Industry and SAGIA.

• According to unofficial Saudi Chamber of Commerce sources, the majority of Foreign Direct Investment (FDI) in Saudi Arabia originates from the United Kingdom, the United States, and Lebanon.139 The Saudi Arabian General Investment Authority (SAGIA) listed the top companies from the UK investing in KSA in 2008.

• Subject to and conditional upon the approval of the Saudi authorities, including without limitations MOH, MOCI and SAGIA, the registered office of the Company shall be situated in Riyadh, Kingdom of Saudi Arabia.

• CLIENT will neither have to i) apply for a Saudi Arabia license nor ii) secure any Government approval from SAGIA.

• Example: A privately-owned US corporation operating in the KSA pursuant to a license from the KSA Government, or the KSA branch of a privately-owned US corporation licensed in the KSA by the Saudi Arabian General Investment Authority (SAGIA).

• Signing Shareholders resolutions for the formation of branches, appointing Manager and signing such documents before the notary public and the Ministry of Commerce & Industry and SAGIA.

• Example: A privately-owned US corporation operating in the KSA pursuant to a license from the KSA Government, or the KSA branch of a privately-owned US corporation licensed in the KSA by the Saudi Arabian General Investment Authority )SAGIA(.

More Definitions of SAGIA

SAGIA means the Saudi Arabian General Investment Authority; "Saudi Riyal" or "SR" means the lawful currency of the Kingdom; "Security Interest" shall bear the meaning set out in Clause 4.7; "Selling Party" shall bear the meaning set out in Clause 17.4;