Entrusted Management Sample Clauses
Entrusted Management. 1.1 Party A agrees to entrust the management of [VIE Entity] to Party B pursuant to the terms and conditions of this Agreement. Party B agrees to manage [VIE Entity] in accordance with the terms and conditions of this Agreement.
1.2 The term of this Entrusted Management Agreement (the “Entrusted Period”) shall be from the effective date of this Agreement to the earlier of the following:
(a) the winding up of [VIE Entity] or
(b) the termination date of this Entrusted Management Agreement to be determined by the Parties hereto, or
(c) the date on which Party B completes the acquisition of [VIE Entity].
1.3 During the Entrusted Period, Party B shall be fully and exclusively responsible for the management of [VIE Entity]. The management service includes without limitation the following:
(a) Party B shall be fully and exclusively responsible for the operation of [VIE Entity], which includes the right to appoint and terminate executive director and the right to hire managerial and administrative personnel etc. Party A or its voting proxy shall make shareholder’s resolution and Board of Directors’ resolution based on the decision of Party B.
(b) Party B has the full and exclusive right to manage and control all cash flow and assets of Party A. [VIE Entity] shall open an entrusted account or designate an existing account as an entrusted account. Party B has the full and exclusive right to decide the use of the funds in the entrusted account. The authorized signature of the account shall be appointed or confirmed by Party B. All of the funds of [VIE Entity] shall be kept in this account, including but not limited to its existing working capital and purchase price received from selling its production equipment, inventory, raw materials and accounts receivable to Party B (if any), all payments of funds shall be disbursed through this entrusted account, including but not limited to the payment of all existing accounts payable and operating expenses, payment of employees salaries and purchase of assets, and all revenues from its operation shall be kept in this account.
(c) Party B shall have the full and exclusive right to control and administrate the financial affairs and daily operation of [VIE Entity], such as entering into and performance of contracts, and payment of taxes etc.
1.4 In consideration of the services provided by Party B hereunder, Party A shall pay the entrusted management fee to Party B which shall be equal to the earnings before tax (if any) of [VIE...
Entrusted Management. 1.1 Party A agrees to entrust the management of Taiyuan Hongxing to Party B pursuant to the terms and conditions of this Agreement. Party B agrees to manage Taiyuan Hongxing in accordance with the terms and conditions of this Agreement.
1.2 The term of this Entrusted Management Agreement (the “Entrusted Period”) shall be from the effective date of this Agreement to the earlier of the following:
(a) the winding up of Taiyuan Hongxing, or
(b) the termination date of this Entrusted Management Agreement to be determined by the Parties hereto, or
(c) the date on which Party B completes the acquisition of Taiyuan Hongxing.
1.3 During the Entrusted Period, Party B shall be fully and exclusively responsible for the management of Taiyuan Hongxing. The management service includes without limitation the following:
(a) Party B shall be fully and exclusively responsible for the operation of Taiyuan Hongxing, which includes the right to appoint and terminate members of directors and the right to hire managerial and administrative personnel etc. Party A or its voting proxy shall make shareholder’s resolution and directors’ resolution based on the decision of Party B.
(b) Party B has the full and exclusive right to manage and control all cash flow and assets of Party A. Taiyuan Hongxing shall open an entrusted account or designate an existing account as an entrusted account. Party B has the full and exclusive right to decide the use of the funds in the entrusted account. The authorized signature of the account shall be appointed or confirmed by Party B. All of the funds of Taiyuan Hongxing shall be kept in this account, including but not limited to its existing working capital and purchase price received from selling its production equipment, inventory, raw materials and accounts receivable to Party B (if any), all payments of funds shall be disbursed through this entrusted account, including but not limited to the payment of all existing accounts payable and operating expenses, payment of employees salaries and purchase of assets, and all revenues from its operation shall be kept in this account.
(c) Party B shall have the full and exclusive right to control and administrate the financial affairs and daily operation of Taiyuan Hongxing, such as entering into and performance of contracts, and payment of taxes etc.
1.4 In consideration of the services provided by Party B hereunder, Party A shall pay the entrusted management fee to Party B which shall be equal to the earnin...
Entrusted Management. 1.1 Party A agrees to entrust the management of Shandong Taiying to Party B pursuant to the terms and conditions of this Agreement. Party B agrees to manage Shandong Taiying in accordance with the terms and conditions of this Agreement.
1.2 The term of this Entrusted Management Agreement (the “Entrusted Period”) shall be from the effective date of this Agreement to the earlier of the following:
(1) the winding up of Shandong Taiying, or
(2) the termination date of this Entrusted Management Agreement to be determined by the Parties hereto, or
(3) the date on which Party B completes the acquisition of all of the equity interests of Shandong Taiying.
1.3 During the Entrusted Period, Party B shall be fully and exclusively responsible for the management of Shandong Taiying. The management service includes without limitation the following:
(1) Party B shall be fully and exclusively responsible for the operation of Shandong Taiying, which includes the right to appoint and terminate Shandong Taiying’s members of Board of Directors and the right to hire managerial and administrative personnel etc. Party A or its voting proxy shall make a shareholder’s resolution and a Board of Directors’ resolution based on the decision of Party B.
(2) Party B has the full and exclusive right to manage and control all cash flow and assets of Shandong Taiying. Shandong Taiying shall open an entrusted account or designate an existing account as an entrusted account. Party B has the full and exclusive right to decide the remittance and repatriation of the funds in the entrusted account. The authorized signature of the account shall be appointed or confirmed by Party B. All of the funds of Shandong Taiying shall be kept in this account, including but not limited to its existing working capital and accounts receivable. All payments of funds shall be disbursed through this entrusted account, including but not limited to the payment of all existing accounts payable, operating expenses, payment of employees salaries and purchase of assets. All revenues from its operation shall be kept in this account.
(3) Party B shall have the full and exclusive right to control and administrate all financial affairs and daily operation of Shandong Taiying, such as entering into and performance of contracts, and payment of taxes etc.
1.4 As consideration for the services provided by Party B hereunder, Party A shall pay an entrusted management fee to Party B. The entrusted management fee shall be as follow...
Entrusted Management. The Partnership may entrust a fund management company to manage and operate the Partnership in a standardized way. The specific matters subject to entrusted management are to be specified by a separate entrustment contract between the Partnership and the specific fund management company.
Entrusted Management. 1.1 Party B agrees to entrust the management of PSI to Party A pursuant to the terms and conditions of this Agreement. Party B agrees to manage PSI in accordance with the terms and conditions of this Agreement.
1.2 The term of this Entrusted Management Agreement shall be from the effective date of this Agreement to the earlier of the following:
(1) the winding up of PSI, or
(2) the termination date of this Entrusted Management Agreement to be determined by the parties hereto.
1.3 The goals of the entrusted management are to allow PSI Company, prior to being acquired by Party A through asset or equity purchase: 1) to repay its borrowings from banks, pay off its existing accounts payable; and 2) to manage its remaining assets prior to being acquired by Party A. During the entrusted period, Party A shall be fully responsible for the management of PSI. The management service includes, without limitation, the following:
(1) Party B shall be fully responsible for the operation of PSI, which includes the right to appoint and terminate members of the Board of Directors and the right to hire managerial and administrative personnel. Party B or its voting proxy shall make a shareholder's resolution and a board of directors' resolution based on the decision of Party A.
(2) Party A has the right to manage and control all assets of PSI. PSI shall open an entrusted account or designate an existing account as an entrusted account. Party A has the full right to decide the use of the funds in the entrusted account. The signer of the account shall be appointed or confirmed by Party A. All of the funds of PSI shall be kept in this account, including but not limited to its existing working capital and purchase price received from selling its production equipment, inventory, raw materials and accounts receivable to PSI. All payments of funds shall be disbursed through this entrusted account, including but not limited to the payment of all existing accounts payable and operating expenses, payment of employees salaries and purchase of assets, and all revenues from its operation shall be kept in this account.
(3) Party A shall have the full right to control and administer the financial affairs and daily operations of PSI such as entering into and performance of contracts, and payment of taxes and the like.
(4) If PSI requires additional funds to maintain its operations, Party A shall provide such additional funds through a bank loan or other resources and Party B shall provide nec...
Entrusted Management. 1.1 Party A agrees to entrust the management of Shenyang ▇▇▇ ▇▇▇▇ Yuan Trading Co., Ltd. to Party B pursuant to the terms and conditions of this Agreement. Party B agrees to manage Shenyang ▇▇▇ ▇▇▇▇ Yuan Trading Co., Ltd. in accordance with the terms and conditions of this Agreement.
1.2 The term of this Entrusted Management Agreement shall be from November 1, 2008 (the “Effective Date” of this Agreement) to the earlier of the following:
(1) March 31, 2017, or
(2) the winding up of Shenyang ▇▇▇ ▇▇▇▇ Yuan Trading Co., Ltd., or
(3) the termination date of this Entrusted Management Agreement to be determined by the Parties hereto, or
(4) the date on which Party B completes the acquisition of Shenyang ▇▇▇ ▇▇▇▇ Yuan Trading Co., Ltd. The parties agree that no transfer or change of ownership of either Shenyang ▇▇▇ ▇▇▇▇ Yuan Trading Co., Ltd. or of Party B shall cause this Entrusted Management Agreement to terminate.
1.3 During the entrusted period, Party B shall be fully responsible for the management of Shenyang ▇▇▇ ▇▇▇▇ Yuan Trading Co., Ltd. The management service includes without limitation the following:
(1) Party B’s rights with respect to the operation of Shenyang ▇▇▇ ▇▇▇▇ Yuan Trading Co., Ltd. shall include the right to appoint and terminate members of the Board of Directors and the right to hire managerial and administrative personnel etc. Party A shall provide to Party B a voting proxy effective at each meeting of the shareholders of Shenyang ▇▇▇ ▇▇▇▇ Yuan Trading Co., Ltd.
(2) Party B has the right to manage and control all assets of Party A. Shenyang ▇▇▇ ▇▇▇▇ Yuan Trading Co., Ltd. shall open an entrusted account or designate an existing account as an entrusted account. Party B has the full right to decide the use of the funds in the entrusted account. The signer of the account shall be appointed or confirmed by Party B. All of the funds of Shenyang ▇▇▇ ▇▇▇▇ Yuan Trading Co., Ltd. shall be kept in this account, including but not limited to its existing working capital. All payments of funds shall be disbursed through this entrusted account, including but not limited to the payment of all existing accounts payable and operating expenses, payment of employees salaries and purchase of assets. All revenues from the operation of Shenyang ▇▇▇ ▇▇▇▇ Yuan Trading Co., Ltd. shall be kept in this account.
(3) Party B shall have the full right to control and administer the financial affairs and daily operation of Shenyang ▇▇▇ ▇▇▇▇ Yuan Trading Co., Ltd., such a...
Entrusted Management. (a) The Shareholder and Shanghai Chuangxin shall, and do hereby, entrust the management and operation of Shanghai Chuangxin to Old BVI pursuant to the terms and conditions of this Agreement, including without limitation delivering to Old BVI all business materials together with all business licenses and corporate seal (chop) of Shanghai Chuangxin, including the right, power and authority to exercise all the right, power and authority of Shanghai Chuangxin as the shareholder of any of its Subsidiaries; and
(b) Old BVI shall manage and operate Shanghai Chuangxin in accordance with the terms and conditions of this Agreement.
Entrusted Management. 1.1 As of and from the Effective Date (as defined below), Party B agrees that the management of WRCF shall be entrusted to Party A pursuant to the terms and conditions of this Agreement. Party A agrees to manage WRCF in accordance with the terms and conditions of this Agreement.
1.2 Party B agrees that 26.80 millions shares of Common Stock of WCRF, in the aggregate, shall be issued and delivered to Party A as soon as reasonably practicable following the date hereof.
1.3 Party B agrees to pay regular cash compensation and to implement a stock ownership incentive plan as further compensation for the management services of Party A. （1） During the term of this Agreement, the regular cash compensation of Party A will be paid in RMB on a monthly basis. （2） Party B shall implement the stock ownership incentive plan according to the performance of Party A. （3） For the 3 year period immediately following the date of this Agreement, if the annual return on equity rate of WCRF is lower than 5%，Party A shall not be entitled to the issuance of any WCRF Common Stock under the stock ownership incentive plan with respect to such annual period, except with the consent of Party B.
1.4 The term of this Entrusted Management Agreement shall be from the date of this Agreement (the “Effective Date”) until the earlier to occur of the following (the “Entrustment Period”):
(1) the winding up of WRCF;
(2) 15 years from the date hereof; or
(3) the termination date of this Entrusted Management Agreement as determined by the Parties hereto.
1.5 During the Entrustment Period, Party A shall be fully responsible for the day-to-day management of WRCF. Party A’s management services shall include, without limitation, the following (except to the extent, if any, provided by applicable law):
(1) Party A shall be responsible for the operation of WRCF, which includes the right to hire managerial and administrative personnel for WRCF and any of its subsidiaries.
(2) Party A shall administer the financial affairs and daily operations of WRCF and its subsidiaries such as entering into and performing contracts and paying taxes.
(3) Party A shall have all other customary powers and duties associated with the management authority and responsibilities contemplated hereby. Party A shall be subject to WRCF’s policies, work rules, procedures, and approval practices, as generally in effect from time to time for all employees of WCRF, to the extent necessary and appropriate.