Sales Arrangements definition
Examples of Sales Arrangements in a sentence
For the avoidance of doubt, the New Common Stock issued to B&W and Toshiba will not be subject to requirements regarding Orderly Sales Arrangements (as defined in the securities purchase agreement).
As the applicable percentage ratios of the Revised Annual Sales Caps are less than 2.5% and, in accordance with Rule 14A.34 of the Listing Rules, the Sales Arrangements are subject only to reporting and announcement requirements set out in Rules 14A.45 to 14A.47 of the Listing Rules and the annual review requirements set out in Rules 14A.37 to 14A.40 of the Listing Rules.
RES shall maintain separate books and records for accounting purposes of those Power Sales Arrangements entered into by it on behalf of the Companies.
The Companies shall, except to the extent resulting from the fraud or intentional tort by RES, bear all risk of loss and otherwise be responsible for any and all occurrences with respect to Capacity, Energy and Ancillary Services marketed by RES pursuant to this Agreement until that risk of loss and responsibility passes to the relevant Power Purchaser(s) under the relevant Power Sales Arrangement(s).
As the applicable percentage ratios of the annual caps for each of the Purchases Arrangements and the Sales Arrangements are less than 2.5%, they are subject only to reporting and announcement requirements set out in Rules 14A.45 to 14A.47 of the Listing Rules.
As stated in the Previous Announcement, annual caps of HK$73 million, HK$81 million and HK$88 million were set for the Purchases Arrangements for the years ending 31 March 2005, 2006 and 2007 respectively and annual caps of HK$47 million, HK$77 million and HK$118 million were set for the Sales Arrangements for the years ending 31 March 2005, 2006 and 2007 respectively.
DC and the Company will discuss and negotiate on the appropriate steps and procedures to be taken to accommodate the Sales Arrangements with a view to complying with the Listing Rules by both parties.
On 27 March 2006, the Company and DC entered into the Supplemental Master Sales Agreement for a term of three years commencing from the Effective Date (i.e. the date on which the approval of the independent shareholders of DC for approving the Supplemental Master Sales Agreement and the transactions contemplated thereunder has been obtained) for regulating the Sales Arrangements.
The Directors note and consider that the Sales Arrangements will continue to be entered into in the ordinary and usual course of the business of the Group and will be negotiated on an arm’s length basis, and on normal commercial terms, and the terms of the Supplemental Master Sales Agreement are no less favourable to the Group than those available to or from independent third parties.
In accordance with the Supplemental Master Sales Agreement, the prices to be offered under each of the Sales Arrangements shall be competitive, on normal commercial terms and determined by the relevant contracting parties on arm’s length negotiations based on market prices and having regard to the technical requirements and/or other conditions of the services to be offered.