REASONS FOR THE COOPERATION AGREEMENT Sample Clauses

REASONS FOR THE COOPERATION AGREEMENT. The Cooperation Agreement sets forth the framework for which cooperation between the Company and Yue’s Tongren is to be implemented. The cooperation with Yue’s Tongren, if materialized, will enable the Group to leverage on the solid background of Yue’s Tongren in the Chinese medicine field to further explore and expand new business areas, thereby enhancing the profitability of the Group’s business as a whole. In view of the above, the Directors consider that the Cooperation Agreement and the transactions contemplated thereunder are in the interests of the Company and its shareholders as a whole.
Sample 1
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REASONS FOR THE COOPERATION AGREEMENT. The Group provides carpark sale agency services and earn a commission for the successful sale of a carpark as part of its usual and ordinary course of business. The Cooperation Agreement was entered into in the usual and ordinary course of business of the Group. The common market practice in the PRC for agency services of this nature is for the property management services company to pay an interest-free deposit to the property developer to secure the right to act as the agent for the sale of the carpark space. The terms of the Cooperation Agreement were also in line with such market model under which Runshang would pay a deposit to Shanghai Quzhi to secure the exclusive right for the sale of the relevant carpark spaces under the Cooperation Agreement. Given that the Cooperation Agreement was entered into under normal commercial terms and in line with commonly accepted market practice, the transactions contemplated thereunder was being carried out in the usual and ordinary course of business of the Group. The Directors (including the independent non-executive Directors) consider that the Cooperation Agreement, including the requirement of paying an interest-free deposit to secure the exclusive right for the sale of the carpark spaces, was fair and reasonable and in the interest of the Company and the Shareholders as a whole.
Sample 1

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