Forward Contract The Parties acknowledge and agree that this Agreement and the transactions contemplated hereunder are a “forward contract” within the meaning of the United States Bankruptcy Code.
Credit Risk Retention The Seller shall retain, either directly or through a “majority-owned affiliate” (as such term is defined in 17 CFR Part 246.2) of the Seller, an economic interest in the Receivables in accordance with 17 CFR Part 246.4, and shall not, and shall cause any such majority-owned affiliate to not, sell, pledge or hedge such interest except as is permissible under 17 CFR Part 246.12.
Sales contract 24. Tax receipts, insurance premium receipts, ledger sheets, payment history from date of origination, insurance claim files, correspondence, current and historical computerized data files, and all other processing, underwriting and closing papers and records which are customarily contained in a mortgage loan file and which are required to document the Mortgage Loan or to service the Mortgage Loan.
Contract Sales Price The total consideration provided for in the sales contract for the sale of a Property.
Securities Contract; Swap Agreement The parties hereto intend for (i) the Transaction to be a “securities contract” and a “swap agreement” as defined in the Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”), and the parties hereto to be entitled to the protections afforded by, among other Sections, Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of the Bankruptcy Code, (ii) a party’s right to liquidate the Transaction and to exercise any other remedies upon the occurrence of any Event of Default under the Agreement with respect to the other party to constitute a “contractual right” as described in the Bankruptcy Code, and (iii) each payment and delivery of cash, securities or other property hereunder to constitute a “margin payment” or “settlement payment” and a “transfer” as defined in the Bankruptcy Code.
Backlog Backlog represents the total estimated contract value of work that remains to be completed pursuant to outstanding contracts as at a certain date, net of estimated value added tax, and is based on the Group’s assumption that the relevant contracts will be performed in accordance with their terms. Backlog is not a measure defined by generally accepted accounting principles. Any modification, termination or suspension of these contracts by the Group’s clients may have a substantial and immediate effect on the Group’s backlog. Projects may also remain in the Group’s backlog for an extended period of time beyond what was initially anticipated due to various factors beyond the Group’s control. The table below sets out the details of the total value of new contracts entered into by the Group and its backlog categorised by (1) business segments; (2) the industries in which the Group’s clients operate; (3) regions; and (4) clients of each of (i) China Petrochemical Corporation (“Sinopec Group”) and its associates and (ii) the non- Sinopec Group and its associates during the period or as at the date indicated: Total of New Contract Value Backlog For the twelve months ended 31 December 2019 As at 31 December 2019 Business segments Engineering, Consulting and (RMB thousand) Percentage(%) (RMB thousand) Percentage(%) Licensing 2,713,103 5.2 8,192,663 8.6 EPC Contracting 31,208,711 59.7 72,662,664 76.5 Construction 17,317,903 33.1 12,829,461 13.5 Equipment Manufacturing 1,079,430 2.0 1,308,772 1.4 Total 52,319,147 100.0 94,993,560 100.0 Industries in which the Group’s clients operate Oil Refining 14,058,072 26.9 28,201,648 29.7 Petrochemicals 24,035,891 45.9 28,285,500 29.8 New Coal Chemicals 7,012,922 13.4 13,394,670 14.1 Other Industries 7,212,262 13.8 25,111,742 26.4 Total 52,319,147 100.0 94,993,560 100.0 Regions PRC 45,585,147 87.1 74,754,485 78.7 Overseas 6,734,000 12.9 20,239,075 21.3 Total 52,319,147 100.0 94,993,560 100.0 Clients of each of (i) Sinopec Group and its associates and (ii) the non-Sinopec Group and its associates Sinopec Group and its associates 29,195,571 55.8 49,789,049 52.4 Non-Sinopec Group and its associates 23,123,576 44.2 45,204,511 47.6 Total 52,319,147 100.0 94,993,560 100.0 The Board wishes to emphasise that the above information in relation to the representative new contracts, the total value of new contracts and backlog shall not constitute any forecast or prediction of the profits of the Group. This announcement is made by the order of the Board. The Board collectively and individually accepts responsibility for the accuracy of this announcement. Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company. By order of the Board SINOPEC ENGINEERING (GROUP) CO., LTD. Xxx Xxxxx Chief Financial Officer, Company Secretary Beijing, the PRC 28 February 2020 As at the date of this announcement, the executive Directors are XX Xxxxxxx, XXXXX Xxxxx, XXX Xxxx (employee representative Director) and XXXX Xxxxxxxx (employee representative Director); the non- executive Director is XX Xxxxxx; and the independent non-executive Directors are XXX Xxxx Xxxxx, Xxxxxxx, XXX Xxxx and XX Xxxxx.
Industry Data; Forward-looking statements The statistical and market-related data included in each of the Registration Statement, the Pricing Disclosure Package and the Prospectus are based on or derived from sources that the Company reasonably and in good faith believes are reliable and accurate or represent the Company’s good faith estimates that are made on the basis of data derived from such sources. No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) contained in the Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.
