Carpark Sales Agency Services Sample Clauses

Carpark Sales Agency Services. On [●], our Company entered into a master carpark sales agency services agreement (the “Master Carpark Sales Agency Services Agreement”) with Shimao Group Holdings, pursuant to which our Group agreed to provide carpark space sales agency services, including but not limited to providing marketing and sales services for carpark space developed by the Shimao Group and its associates (the “Carpark Sales Agency Services”). The Master Carpark Sales Agency Services Agreement has a term commencing from the [REDACTED] until December 31, 2022. For each of the years ended December 31, 2017, 2018 and 2019 and the six months ended June 30, 2020, the total service fee receivable by our Group in respect of the Carpark Sales Agency Services amounted to RMB0.4 million, RMB16.5 million, RMB71.5 million and RMB30.2 million, respectively. The increase in the service fee during the Track Record Period was due to the increased efforts of our Group to develop its Carpark Sales Agency Services. Such service offering was at an initial stage of development in 2017 with limited projects, which substantially expanded during the Track Record Period. The lower service fee incurred for the six months ended June 30, 2020 was due to a lesser number of carparks sold during such period, which had resulted from slower sales activities caused by the COVID-19 pandemic. We expect that the sales of carpark space will increase and make up for the lesser demand during the six months ended June 30, 2020 in the second half of 2020. The fees to be charged for the Carpark Sales Agency Services will be determined after arm’s length negotiations with reference to the prevailing market price (taking into account the location and the conditions of the carparks and the anticipated operational costs including labor costs). It is estimated that the maximum amounts of service fee receivable by our Group in relation to the Carpark Space Sales Agency Services for the three years ending December 31, 2022 will not exceed RMB210.0 million, RMB395.0 million and RMB592.0 million, respectively. The increase in the annual caps for the Carpark Sales Agency Services as compared to the historical transaction amounts for the Track Record Period as we have increased and will continue to increase our efforts to develop our carpark space sales related services. Such service was at an initial stage of development in 2017 and we have achieved increase in the number of property projects in which we offered Carpark Sales Agency ...
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Carpark Sales Agency Services. On [●], our Company entered into a carpark sales agency services framework agreement (the “Carpark Sales Agency Services Framework Agreement”) with Redco Properties, pursuant to which we agreed to provide carpark sales agency services to Redco Group, including but not limited to acting as sales and leasing agent for carparks of Redco Group (“Carpark Sales Agency Services”) for a term commencing from the [REDACTED] to December 31, 2023, which may be renewed as the parties may mutually agree, subject to compliance with the requirements under Chapter 14A of the Listing Rules and all other applicable laws and regulations. As the Carpark Sales Agency Services Framework Agreement is a framework agreement, relevant subsidiaries of Redco Properties and relevant members of our Group will enter into separate agreements which will set out the specific terms and conditions according to the principle terms provided in the Carpark Sales Agency Services Framework Agreement. Historical transaction amounts For each of the years ended December 31, 2018, 2019 and 2020, the total service fees paid by Redco Group to us for provision of the Carpark Sales Agency Services amounted to approximately RMB1.9 million, RMB8.4 million and RMB2.4 million, respectively. Annual caps Our Directors estimate that the annual service fees in relation to the Carpark Sales Agency Services to be provided under the Carpark Sales Agency Services Framework Agreement for each of the years ending December 31, 2021, 2022 and 2023 will not exceed RMB12.4 million, RMB12.4 million and RMB12.4 million, respectively. The service fees to be charged for the Carpark Sales Agency Services shall be determined with reference to a number of factors, including (i) prevailing market rates; and (ii) the anticipated operational costs including but not limited to labor costs and administrative costs for providing such services. The following factors were considered in arriving at the above annual caps: • the expected number of car parking spaces to be sold for the three years ending December 31, 2023 with reference to our existing signed contracts with Redco Group for the Carpark Sales Agency Services and our estimation of the delivery schedule of Redco Group; • the estimated sales price of car parking spaces developed by the Redco Group; and • the estimated agency fee charged for each car parking space with reference to the historical agency fee charged by our Group. Implications under the Listing Rules Redco Propertie...
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Related to Carpark Sales Agency Services

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  • Beta Services From time to time, We may invite You to try Beta Services at no charge. You may accept or decline any such trial in Your sole discretion. Beta Services will be clearly designated as beta, pilot, limited release, developer preview, non-production, evaluation or by a description of similar import. Beta Services are for evaluation purposes and not for production use, are not considered “Services” under this Agreement, are not supported, and may be subject to additional terms. Unless otherwise stated, any Beta Services trial period will expire upon the earlier of one year from the trial start date or the date that a version of the Beta Services becomes generally available. We may discontinue Beta Services at any time in Our sole discretion and may never make them generally available. We will have no liability for any harm or damage arising out of or in connection with a Beta Service.

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