Examples of Target Assets in a sentence
The Target Assets I The Target Assets I to be acquired by the Group from the Geely Holding Group pursuant to the Assets Transfer Agreement comprise predominantly equipment for use in the Group’s research and development for the XXXX & CO-branded, ZEEKR-branded and Geely-branded vehicles related products such as vehicles engines and transmissions, as well as a small amount of office equipment and software system.
Assets Transfer Agreement On 15 October 2021 (after trading hours), the Company and Geely Holding entered into the Assets Transfer Agreement pursuant to which (i) the Group agreed to purchase and the Geely Holding Group agreed to sell the Target Assets I for a maximum cash consideration of approximately RMB632.8 million; and (ii) the Group agreed to sell and the Geely Holding Group agreed to purchase the Target Assets II for a maximum cash consideration of approximately RMB357.9 million.
During the Exclusivity Period, Parkson Pharmaceutical shall not, and shall procure all relevant parties not to, whether directly and indirectly, sign any undertaking or contract agreement with any third party in respect of the transfer or disposal of the Target Assets, or make any consultation, negotiations, discussions, or offer in relation thereto.
The Target Assets I to be acquired by the Group will facilitate the vehicle engines, transmission and vehicle styling related R&D work for XXXX & CO-branded, ZEEKR-branded and Geely-branded vehicles and also support further upgrade on both hardware and software side of the Group’s R&D technology.
The consideration will be payable in cash by the Group as to (i) 50% within 15 business days upon the delivery of the Target Assets I to the Group; and as to (ii) 50% within 15 business days upon completion of the final inspection and acceptance procedures by the Group.