REASONS FOR ENTERING INTO THE TENANCY AGREEMENT Sample Clauses

REASONS FOR ENTERING INTO THE TENANCY AGREEMENT. Pursuant to the agreement of joint operation of School of Clinical Medicine, the Group shall invest into and be responsible for the operation of the School of Clinical Medicine. The Group had decided to apply for the land use right to construct the new campus under the School of Clinical Medicine and will construct the new campus in phases. Prior to the completion of the new campus, the Directors (including the independent non-executive Directors) considered that it would be commercially beneficial to the Group to lease the premise under the Tenancy Agreement from Anhui New East. It is expected that the premise under the Tenancy Agreement will be able to provide sufficient accommodation facilities for the contemplated student recruitment during the cooperation period under the agreement of joint operation of School of Clinical Medicine. The annual caps are estimated based on the annual rental payable by the Group under the Connected Lease. The rental payable under the Connected Lease were negotiated on arm’s length basis with reference to the prevailing market rental prices of comparable premises in the locality confirmed by an independent property valuer. The Directors (including the independent non-executive Directors) are of the view, based on the valuation report issued by the independent property valuer, that (i) the transactions contemplated under the Connected Lease have been and will be entered into on normal terms that are fair and reasonable; and (ii) the proposed annual caps for the transactions contemplated under the Connected Lease are fair and reasonable and in the interests of the Company and its shareholders as a whole.
Sample 1Sample 2
AutoNDA by SimpleDocs
REASONS FOR ENTERING INTO THE TENANCY AGREEMENT. The Company as tenant had entered into the Previous Tenancy Agreement with Tai Sang Bank as landlord in relation to the leasing of the Premises for a term of three years from 15 April 2011 to 14 April 2014 for use as its office. As the Previous Tenancy Agreement shall expire on 14 April 2014, the Tenancy Agreement is entered into for the purposes of renewing the existing tenancy in respect of the Premises. The terms of the Tenancy Agreement were negotiated on an arm’s length basis and the rental chargeable under the Tenancy Agreement was determined after taking into account the advice and valuation of independent valuers in March 2014 in connection with the market rental chargeable in respect of the Premises as well as the monthly rental per sq. ft. which Tai Sang Bank currently charges other tenants of the Building. The Directors (including the independent non-executive Directors) consider that the Tenancy Agreement is entered into in the ordinary and usual course of business of the Company, and its terms are on normal commercial terms and are fair and reasonable, and are in the interests of the Company and the Shareholders as a whole. CONTINUING CONNECTED TRANSACTION Xxx Xxxx & Co, being a company in which the executive Directors together with their relatives and companies controlled by them can exercise or control the exercise of more than 50% of the voting rights at its general meetings as well as a substantial Shareholder directly or indirectly interested in more than 30% of the total number of issued shares of the Company, is a connected person of the Company. As more than 30% of the total number of issued shares of Tai Sang Bank is held by a wholly-owned subsidiary of Xxx Xxxx & Co, Xxx Xxxx Bank is an associate of Xxx Xxxx & Co and therefore a connected person of the Company. Further, Tai Sang Bank is also a connected person of the Company by virtue that the executive Directors together with their relatives and companies controlled by them can exercise or control the exercise of more than 50% of the voting rights at general meetings of Tai Sang Bank. Accordingly, the Tenancy Agreement constitutes a continuing connected transaction of the Company for the purpose of the Listing Rules. In the light of the executive Directors’ interests in Xxx Xxxx & Co and Tai Sang Bank as set out above, all the executive Directors have abstained from voting on the resolution of the Board to approve the Tenancy Agreement and the transactions contemplated thereunder. B...
Sample 1
REASONS FOR ENTERING INTO THE TENANCY AGREEMENT. The Group is principally engaged in provision of advertising services and property investment in the past. The Group has planned to expand its business operation to different cultural arenas. As the Company is planning to expand its business, the current office premises are not expected to be sufficient to support its future operation. The Joint Tenants intend to share the Premises as business offices for a term of three years from 16th May 2017 to 15th May 2020. However, the Joint Tenants’ businesses will remain separate while the offices are shared in order to maximise the utility of the premises. The Company and Kingkey Enterprise will share 40% and 60% of the rental fees respectively and the payments will be made separately and independently. The terms of the Tenancy Agreement were negotiated on an arm’s length basis and the rental chargeable under the Tenancy Agreement was determined after taking into account the prevailing market rental rates. The Directors (including the independent non-executive Directors) consider that the Tenancy Agreement is entered into in the ordinary and usual course of business of the Company, and its terms are on normal commercial terms and are fair and reasonable, and are in the interests of the Company and the Shareholders as a whole.
Sample 1
REASONS FOR ENTERING INTO THE TENANCY AGREEMENT. The Company had entered into the Previous Tenancy Agreements to rent certain units in the Building, which together comprise the Premises, for use as its office. As all the Previous Tenancy Agreements shall expire on 14 April 2011, the Tenancy Agreement is entered into for the purposes of renewing the existing tenancies in respect of the Premises. The terms of the Tenancy Agreement were negotiated on an arm’s length basis and the rental chargeable under the Tenancy Agreement was determined after taking into account the valuation of the unit market rental chargeable in respect of office units of the Building by an independent valuer as at 17 March 2011 in the region of HK$24 per sq. ft. per month exclusive of rates and management fees on gross floor area basis as well as the monthly rental per sq. ft. which Tai Sang Bank currently charges other tenants of the Building. The Directors (including the independent non-executive Directors) consider that the Tenancy Agreement is entered into in the ordinary and usual course of business of the Company, and its terms are on normal commercial terms and are fair and reasonable, and are in the interests of the Company and the Shareholders as a whole. CONTINUING CONNECTED TRANSACTION Xxx Xxxx & Co, being a company in which the executive Directors together with their relatives and companies controlled by them exercise or control the exercise of more than 50% of the voting power at general meetings as well as a substantial Shareholder directly or indirectly interested in approximately 48.3% of the issued share capital of the Company, is a connected person of the Company. As approximately 44.82% of the issued share capital of Tai Sang Bank is held by a wholly-owned subsidiary of Xxx Xxxx & Co, Xxx Xxxx Bank is an associate of Xxx Xxxx & Co and therefore a connected person of the Company. Further, Tai Sang Bank is also a connected person of the Company by virtue that the executive Directors together with their relatives and companies controlled by them can exercise or control the exercise of more than 50% of the voting power at general meetings of Tai Sang Bank. Accordingly, the Tenancy Agreement constitutes a continuing connected transaction of the Company for the purpose of the Listing Rules. In the light of the executive Directors’ interests in Xxx Xxxx & Co and Tai Sang Bank as set out above, all the executive Directors have abstained from voting on the resolution of the Board to approve the Tenancy Agreement and the tra...
Sample 1

Related to REASONS FOR ENTERING INTO THE TENANCY AGREEMENT

  • CALENDAR FOR SUCCESSOR MEMORANDUM OF UNDERSTANDING In the event Union or Management desires a successor MOU, said party shall serve upon the other between April 1, 2018 and April 30, 2018, its written proposals for such successor MOU. Meet and confer sessions shall begin no later than thirty (30) calendar days following submittal of the proposals.

  • MEMORANDUM OF AGREEMENT Contemporaneously with the execution of this Agreement, the Parties shall execute, acknowledge, deliver and record a “short form” memorandum of this Agreement in the form of Exhibit J attached hereto (as modified, including by the addition of any required property descriptions, required by local law and practice to put such Memorandum of record and put third parties on notice of this Agreement), which shall be placed of record in each state and county in which the currently-existing Dedicated Properties are located. Further such memoranda shall be executed and delivered by Shipper as Gatherer from time to time requests to evidence the dedication of additional areas or Oil and Gas Interests under this Agreement.

  • Modified Indemnity Where Agreement Involves Design Professional Services Notwithstanding the forgoing, if the services provided under this Agreement are design professional services, as defined by California Civil Code section 2782.8, as may be amended from time to time, the defense and indemnity obligation under Section 1, above, shall be limited to the extent required by California Civil Code section 2782.8.

  • Attachment C, Standard State Provisions for Contracts and Grants Attachment C is hereby deleted in its entirety and replaced by the Attachment C December 15, 2017 attached to this Amendment. Taxes Due to the State. Contractor certifies under the pains and penalties of perjury that, as of the date this contract amendment is signed, the Contractor is in good standing with respect to, or in full compliance with a plan to pay, any and all taxes due the State of Vermont. Child Support (Applicable to natural persons only; not applicable to corporations, partnerships or LLCs). Contractor is under no obligation to pay child support or is in good standing with respect to or in full compliance with a plan to pay any and all child support payable under a support order as of the date of this amendment.

  • Submission of Certified Payroll Transcripts for Public Works Contracts Only Contractors and Subcontractors on public works projects must submit monthly payroll transcripts to the Authorized User that has prepared or directs the preparation of the plans and specifications for a public works project, as set forth in the Bid Specifications. For Mini-Bid solicitations, the payroll records must be submitted to the entity preparing the agency Mini-Bid project specification. For “agency specific” Bids, the payroll records should be submitted to the entity issuing the purchase order. For all other OGS Centralized Contracts, such records should be submitted to the individual agency issuing the purchase order(s) for the work. Upon mutual agreement of the Contractor and the Authorized User, the form of submission may be submitted in a specified disk format acceptable to the Department of Labor provided: 1) the Contractor/Subcontractor retains the original records; and, (2) an original signed letter by a duly authorized individual of the Contractor or Subcontractor attesting to the truth and accuracy of the records accompanies the disk. This provision does not apply to Article 9 of the Labor Law building services contracts.

  • Reasons for Layoff Layoff shall occur only for lack of work or lack of funds.

  • Certification Regarding Entire TIPS Agreement for Part 1 and Part 2 Contracts 5 This is a two part solicitation. Part 1 is solicited for TIPS sales that are not considered a "public work" construction project. Part 1 permits the sale of goods and non-construction/non-"public work" services such as maintenance and minor repairs. Part 2 Job Order Contract (JOC) is solicited for projects considered by your TIPS Member Customers to be a "public work" construction project. The determination of whether or not a TIPS sale amounts to a "public work" construction project requiring a Part 2 JOC contract is made by the TIPS Member Customer at the time of each TIPS sale. Thus, Vendors are encouraged to respond to both Parts 1 and 2 in case your TIPS Member Customers require that a sale be made under one Part or the other. However, responding to both Parts is not required. If Vendor responds and is awarded to both Parts, Vendor will have one contract for Part 1 and a separate contract for Part 2.

  • Volunteer Agreement I understand that my services are donated to Mayo Clinic Health System without promise, expectation, or receipt of compensation or future employment. I also understand that volunteering should not be viewed as a means of obtaining permanent employment at Mayo Clinic Health System. I agree to comply with all policies and guidelines of Mayo Clinic Health System and its volunteer program. I attest that I have reviewed, understand, and have been provided the opportunity to ask questions about the material in this document.

  • PROCEDURE TO CANCEL AGREEMENT BY THE STUDENT ALL requests for cancellation of the housing agreement must be IN WRITING OR REPRODUCIBLE ELECTRONIC FORMAT and submitted to UCF DHRL at the address for official communications shown in this agreement.

  • Agreement of the Parties The language used in this Agreement will be deemed to be the language chosen by the parties hereto to express their mutual intent, and no rule of strict construction will be applied against any party hereto. Neither Executive nor the Company shall be entitled to any presumption in connection with any determination made hereunder in connection with any arbitration, judicial or administrative proceeding relating to or arising under this Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.