TGSB definition
Examples of TGSB in a sentence
The paid-up share capital of TGSB is RM100.00 comprising of 100 ordinary shares.
The Project provides TGSB the opportunity to widen the Company’s product range (upon successful commercialisation of the End Product) using locally sourced and sustainable materials i.e. palm oil.
All intellectual property rights and research materials, which are in the possession of MPOB and TGSB respectively prior to the conclusion of the Agreement, are independent property of the respective parties and are in no way affected by the Agreement.
Until and unless TGSB’s Share of Profits and the Late Payment Interest are fully settled, TGSB shall be entitled to, without prejudice to any other rights and remedies available to it under the Development Agreement, at law, in equity, by statute or otherwise, recover the outstanding portion of TGSB’s Share of Profits and the Late Payment Interest accrued thereon from WKGPD as a debt due from and owing by WKGPD to TGSB.
MPOB and TGSB may hereinafter be referred collectively as the “Parties”.
Subject always to section 5.4(d) above, TGSB’s Share of Profits (after deducting the principal portion of the Redemption Sum paid to the Chargee) shall be paid by WKGPD to TGSB within the Development Period.
The share of profits to be derived from the Development and to be paid to TGSB is estimated to be over RM120.0 million (based on the estimated construction costs at this juncture) over the development period of 5 years (“TGSB’s Share of Profits”) subject to completion of the Development and the sale of development units.
Furthermore, based on the terms of the Development Agreement, TGSB is entitled to an estimated share of profit of over RM120.0 million over the Development Period subject to the completion of the Development and sale of the development units.
The ownership of all intellectual property rights (including the Future Patent) arising from the Project under the Agreement shall be owned 70% by MPOB and 30% by TGSB (“Joint Intellectual Property”).
In consideration of the premises and the mutual covenants and obligations set out in the Development Agreement and subject always to the consequences of termination of the Development Agreement by TGSB pursuant to section 5.9(ii) below, WKGPD shall be entitled to all the Factories and the Hostel developed under the Development (“WKGPD’s Share of Profits”).