Common use of Authorization and Authorized Cap Amount Clause in Contracts

Authorization and Authorized Cap Amount. 2.1.1 Party A shall entrust the Entrusted Assets to Party B for investment management, provided that Party A shall have the ownership of the Entrusted Assets. During the term of this Agreement, Party A shall retain the ownership of the Entrusted Assets and shall be entitled to investment gains of, and bear the investment losses of, the Entrusted Assets. However, Party B shall bear the losses incurred due to Party B’s action unauthorized under this Agreement and Investment Guideline and without Party A’s consent. 2.1.2 Party B shall cooperate with the Strategic Investment Decisions made by Party A for the business or company development need. However, such investment may not be included in the year-end performance evaluation of Party B. 2.1.3 Party A shall, within 30 business days following the execution of this Agreement or at any other time mutually agreed by both parties, carry out such authorization procedures necessary to enable Party B to engage in project selection, due diligence, engagement of intermediaries, investment decision-making, negotiation and execution of related investment agreements, unified filing, closing, subsequent management and exits of investment projects, for the purpose of this Agreement and within the scope of authorization by Party A; provided, however, that Party B may not engage in activities that may not be delegated from Party A to Party B in accordance with applicable laws, regulatory requirements and corporate governance of Party A. 2.1.4 The Parties agree and confirm that Party B may retain the services of attorneys, auditors, appraisers and other professionals in the name of Party B for the purpose of this Agreement, and at the cost of Party B. 2.1.5 In consideration of the current situation of the Entrusted Investment Management between Party A and Party B, as well as the need in connection with the growth of Party A’s Alternative Investment business within next year and daily liquidity arrangements for the investment fund, both Parties reasonably expect and agree that during the term of this Agreement, the cap amount for the fund entrusted for investment shall be as follows: (1) The contractual amount of the Investment Assets entrusted by Party A to Party B pursuant to the Agreement for management will not exceed RMB250 billion or its equivalent in foreign currency (including the contractual amount already entrusted prior to the execution of the Agreement and the contractual amount to be entrusted during the term of the Agreement) as at the expiry of the Agreement. The contractual amount to be entrusted during the term of the Agreement will not exceed RMB150 billion or its equivalent in foreign currency, that is, the contractual amount to be entrusted in 2016 will not exceed RMB100 billion or its equivalent in foreign currency, and the contractual amount to be entrusted in the first half of 2017 will not exceed RMB50 billion or its equivalent in foreign currency. (2) Both Parties reasonably expect and agree that with the term of the Agreement, the investment management service fee and performance incentive fee payable to Party B and/or the entities controlled by Party B pursuant to the Agreement will not exceed RMB1 billion, that is, the investment management service fee and performance incentive fee payable will not exceed RMB590 million or its equivalent in foreign currency in 2016 and will not exceed RMB 410 million or its equivalent in foreign currency in the first half of 2017.

Authorization and Authorized Cap Amount. 2.1.1 Party A shall entrust the Entrusted Assets entrusted assets to Party B for investment management, provided that Party A shall have the ownership of the Entrusted Assetsentrusted assets and their investment gains. During the term of this Agreement, Party A shall retain the ownership of the Entrusted Assets entrusted assets and shall be entitled to investment gains of, and bear the investment losses of, the Entrusted Assetsentrusted assets. However, Party B shall bear the losses incurred due to Party B’s action unauthorized under this Agreement and Investment Guideline and without Party A’s consentconsent or Party B’s failure to act according to Party A Instructions, Party A Notice and Party A Reminder. 2.1.2 Party B shall cooperate with in relation to the Strategic Investment Decisions made by Party A for its investment and self-use projects as required by the business or company development needdevelopment, which fall under the Entrusted Investment Management hereunder. However, such investment may not be included in the year-end performance evaluation of Party B. 2.1.3 Party A shall, within 30 thirty (30) business days following the execution of this Agreement or at any other time mutually agreed by both parties, carry out such authorization procedures necessary to enable Party B to engage in project selection, due diligence, engagement of intermediaries, investment decision-making, negotiation and execution of related investment agreements, unified daily management of Fund Accounts, regulatory filing, closing, subsequent management (including operation and management of Real Estate) and exits of investment projects, for the purpose of this Agreement and within the scope of authorization by Party A; provided, however, that Party B may not engage in activities that may not be delegated from Party A to Party B in accordance with applicable laws, regulatory requirements and corporate governance of Party A. 2.1.4 The Parties agree and confirm that Party B may retain the services of attorneys, auditors, appraisers and other professionals in the name of Party B for the purpose of this Agreement, and at the cost of Party B. 2.1.5 In consideration of the current situation of the Entrusted Investment Management between Party A and Party Bthe Parties, as well as the need in connection with the growth of Party A’s Alternative Investment Investments business within next year the coming years and daily liquidity arrangements for the investment fund, both Parties reasonably expect and agree that during the term of this Agreement, the cap amount amounts for the fund funds entrusted to Party B for investment Alternative Investments by Party A and the remuneration to be received by Party B from Party A shall be as follows: (1) The contractual amount of the Investment Assets to be entrusted by Party A to Party B pursuant to the Agreement for management in 2019 will not exceed RMB250 billion or its equivalent in foreign currency (including the contractual amount already entrusted prior to the execution of the Agreement and the contractual amount to be entrusted during the term of the Agreement) as at the expiry of the Agreement. The contractual amount to be entrusted during the term of the Agreement will not exceed RMB150 RMB200 billion or its equivalent in foreign currency, that is, the contractual amount to be entrusted in 2016 2020 will not exceed RMB100 RMB200 billion or its equivalent in foreign currency, and the contractual amount to be entrusted in the first half of 2017 2021 will not exceed RMB50 RMB200 billion or its equivalent in foreign currency. (2) Both Parties reasonably expect and agree that The contractual amount for purchasing Related Financial Products issued with Party B as the term of the Agreementsponsor or a participant using Investment Assets entrusted by Party A in 2019 will not exceed RMB100 billion or its equivalent in foreign currency (including entrusted management fee), the contractual amount for purchasing Related Financial Products issued with Party B as the sponsor or a participant using Investment Assets entrusted by Party A in 2020 will not exceed RMB100 billion or its equivalent in foreign currency (including entrusted management fee), and the contractual amount for purchasing Related Financial Products issued with Party B as the sponsor or a participant using Investment Assets entrusted by Party A in 2021 will not exceed RMB100 billion or its equivalent in foreign currency (including entrusted management fee). (3) The investment management fee, service fee for operation and management of Real Estate and performance incentive fee (including floating management fee and performance fee for projects with non-fixed return) payable to Party B and/or the entities controlled by Party B pursuant to the Agreement will not exceed RMB1 billion, that is, the investment management service fee and performance incentive fee payable will not exceed RMB590 million RMB1.391 billion or its equivalent in foreign currency in 2016 2019, the investment management fee, service fee for operation and management of Real Estate and performance incentive fee (including floating management fee and performance fee for projects with non-fixed return) payable to Party B pursuant to the Agreement will not exceed RMB 410 million RMB1.982 billion or its equivalent in foreign currency in 2020, and The investment management fee, service fee for operation and management of Real Estate and performance incentive fee (including floating management fee and performance fee for projects with non-fixed return) payable to Party B pursuant to the first half of 2017Agreement will not exceed RMB2.266 billion or its equivalent in foreign currency in 2021.

Authorization and Authorized Cap Amount. 2.1.1 Party A shall entrust the Entrusted Assets to Party B for investment management, provided that Party A shall have the ownership of the Entrusted Assets. During the term of this Agreement, Party A shall retain the ownership of the Entrusted Assets and shall be entitled to investment gains of, and bear the investment losses of, the Entrusted Assets. However, Party B shall bear the losses incurred due to Party B’s action unauthorized under this Agreement and Investment Guideline and without Party A’s consent. 2.1.2 Party B shall cooperate with the Strategic Investment Decisions made by Party A for the business or company development need. However, such investment may not be included in the year-end performance evaluation of Party B. 2.1.3 Party A shall, within 30 business days following the execution of this Agreement or at any other time mutually agreed by both parties, carry out such authorization procedures necessary to enable Party B to engage in project selection, due diligence, engagement of intermediaries, investment decision-making, negotiation and execution of related investment agreements, unified filing, closing, subsequent management and exits of investment projects, for the purpose of this Agreement and within the scope of authorization by Party A; provided, however, that Party B may not engage in activities that may not be delegated from Party A to Party B in accordance with applicable laws, regulatory requirements and corporate governance of Party A. 2.1.4 The Parties agree and confirm that Party B may retain the services of attorneys, auditors, appraisers and other professionals in the name of Party B for the purpose of this Agreement, and at the cost of Party B. 2.1.5 In consideration of the current situation of the Entrusted Investment Management between Party A and Party B, as well as the need in connection with the growth of Party A’s Alternative Investment business within next year and daily liquidity arrangements for the investment fund, both Parties reasonably expect and agree that during the term of this Agreement, the cap amount for the fund entrusted for investment shall be as follows: (1) The contractual amount of the Investment Assets entrusted by Party A to Party B pursuant to the Agreement for management will not exceed RMB250 RMB150 billion or its equivalent in foreign currency (including the contractual amount already entrusted prior to the execution of the Agreement and the contractual amount to be entrusted during the term of the Agreement) as at the expiry of the Agreement. The contractual amount to be entrusted during the term of the Agreement will not exceed RMB150 billion or its equivalent in foreign currency, that is, the contractual amount to be entrusted in 2016 will not exceed RMB100 billion or its equivalent in foreign currency, and the contractual amount to be entrusted in the first half of 2017 will not exceed RMB50 billion or its equivalent in foreign currencybillion. (2) Both Parties reasonably expect and agree that with the term of the Agreement, the investment management service fee and performance incentive fee payable to Party B and/or the entities controlled by Party B pursuant to the Agreement will not exceed RMB1 billion, that is, the investment management service fee and performance incentive fee payable will not exceed RMB590 million or its equivalent in foreign currency in 2016 and will not exceed RMB 410 million or its equivalent in foreign currency in the first half of 2017RMB500 million.