Administrative Support Framework Agreement Clause Samples

Administrative Support Framework Agreement. Pursuant to the administrative support framework agreement (the “Administrative Support Framework Agreement”) dated [●] 2021 entered into by our University with ▇▇. ▇▇▇▇ and ▇▇. ▇▇, our University has agreed to provide administrative support (including provision of registered office address and premises, arrangement of utilities services and other services ancillary to the day-to-day administration and operation) to certain enterprises directly or indirectly wholly-owned by ▇▇. ▇▇▇▇ and/or ▇▇. ▇▇ (collectively, the “Cooperative Enterprises”). As of the Latest Practicable Date, there were four Cooperative Enterprises. These Cooperative Enterprises shall provide internship opportunities, practical training courses and guidance to our students at our University Campuses. Each of the Cooperative Enterprises will enter into separate agreements with our University which will set out the details of the specific payment requirements (including payment method, payment schedule and payment information) pursuant to the principles stipulated in the Administrative Support Framework Agreement. The term of the Administrative Support Framework Agreement is from the [REDACTED] to August 31, 2023, and renewable unless terminated by either party by serving written notice to the other party within 30 days prior to the expiration of the Administrative Support Framework Agreement (subject to compliance with the provisions under the Listing Rules regarding continuing connected transactions). Our University shall be entitled to receive from each of the Cooperative Enterprises a monthly administrative fee which shall be determined under the individual agreements, after arm’s length negotiation, and with reference to the prevailing market administrative fees of comparable premises in the vicinity as confirmed by an independent property valuer, taking into account of the fact that provision of property management related services (including registered office address and premises) is a major part of the administrative support services provided by our University under the Administrative Support Framework Agreement. Historically, no fees were paid by the Cooperative Enterprises to our Group for the years ended August 31, 2018, 2019 and 2020 and the six months ended February 28, 2021. The annual cap under the Administrative Support Framework Agreement for the years ending August 31, 2021, 2022 and 2023 is RMB0.48 million, RMB0.48 million and RMB0.48 million, respectively. The annual cap...