Major Terms Sample Clauses

Major Terms. The Financial Services Agreement will be automatically terminated once the Supplemental Agreement becomes effective.

Major Terms. Pursuant to the Master Agreement, the Company and CITIC Telecom agree with each other that in the event that the respective members of the Group engage members of CITIC Telecom Group to provide the Virtual Private Network Services during the Relevant Period, it will be in the ordinary and usual course and normal commercial terms of their respective businesses within the limit of the Virtual Private Network Services Caps for the Relevant Period. Pursuant to the Master Agreement, the Virtual Private Network Services shall generally be provided on the basis of CITIC Telecom Group’s standard service order form, which has incorporated the general terms and conditions of service of the relevant members of CITIC Telecom Group. Subject to the guidelines and terms and conditions set out in the Master Agreement, the terms and conditions of such standard service order form may be modified to cater for specific requirements of some customers, when necessary. Key service terms such as the minimum commitment period, bandwidth and location of services will be set out in such individual service order form. The service charges for the provision of the Virtual Private Network Services usually include a one-off set up charge and a fixed recurring monthly service charge during the service term, which is determined with reference to the subscribed bandwidth, locations, class of services and the requisite support services for provision of the Virtual Private Network Services. The service charges will be set out in the individual service order form and are agreed on an arm’s length basis. The one-off set up charge is normally payable in full upon provision of service while the monthly service charge is settled monthly.

Major Terms. 1. CDC and the Company agreed that their subsidiaries shall conduct substitutive power generation transactions among themselves in Beijing, Tianjin, Tangshan, Jiangsu and Shanxi regions of the PRC. 2. In consideration of actual changes in the market conditions and the operational status of the generating units, the parties and relevant subsidiaries shall, pursuant to the requirements under the implementation rules governing the management of substitutive power generation on the power grids where these companies are located, determine the price of the transactions by negotiations. To ensure the return of the benefits of substitutive power generation, the professional departments of the Company will actively collect market intelligence, analyse market trends, and be proactive in negotiations to secure favorable transaction prices.

Major Terms. Pursuant to the Financial Services Agreement, the Group has the right to choose the financial institution for financial services and decide the financial institution for deposit services and loan services as well as the amounts of loans and deposits with reference to its own business needs.

Major Terms. Pursuant to the Master Agreement, the Company and CITIC Telecom agree with each other that in the event that the respective members of the Group engage members of CITIC Telecom Group to provide the Internet Access Services during the Relevant Period, it will be in the ordinary and usual course and normal commercial terms of their respective businesses within the limit of the Internet Access Services Caps for the Relevant Period. Pursuant to the Master Agreement, the Internet Access Services shall generally be provided on the basis of CITIC Telecom Group’s standard service order form, which has incorporated the general terms and conditions of service of the relevant members of CITIC Telecom Group. Subject to the guidelines and terms and conditions set out in the Master Agreement, the terms and conditions of such standard service order form may be modified to cater for specific requirements of some customers, when necessary. Key service terms such as the minimum commitment period, bandwidth and location of services will be set out in such individual service order form. The service charges for the provision of the Internet Access Services usually include a one-off set up charge and a fixed recurring monthly service charge during the service term, which is determined with reference to the subscribed bandwidth, locations, interface of connection and the requisite application services for provision of the Internet Access Services. The service charges will be set out in the individual service order form and are agreed on an arm’s length basis. The one-off set up charge is normally payable in full upon provision of service while the monthly service charge is settled monthly.

Major Terms. The Group shall provide Xiwang Group and the Relevant Subsidiaries with guarantee services under which the Group shall undertake to guarantee and bear any obligations and liabilities of Xiwang Group and the Relevant Subsidiaries under the loan agreements to be entered between the lenders and Xiwang Group and/or the Relevant Subsidiaries, in accordance with the terms of the specific guarantee agreements to be entered between the lenders and the Group.

Major Terms. To restrict the term of the Original Agreement to not more than 3 years which shall expire on the date falling the earlier of (a) 31 December 2012; or (b) two years after the date of issuance of the Substantial Completion Certificate for Works (as defined in the Agreement & Schedule of Conditions of Building Contract for use in HKSAR 2005 Edition) of the Project, unless otherwise determined by the Original Agreement. It is proposed that the Annual Caps for each of the three financial years ending 31 December 2012 are as follows: 2010 2011 2012 Annual Caps RMB 20,000,000 RMB 10,000,000 RMB 5,000,000 The Annual Caps are determined by reference to the internal projection of the Consideration to be incurred with regard to (i) the amounts of approximately RMB600,000, RMB10,000,000 and RMB12,000,000 paid/payable by Xx Xxxx to SOD under the Original Agreement for the three years ended 31 December 2007, 31 December 2008 and 31 December 2009 respectively; (ii) the latest development plan of the Project; (iii) the expected increase in construction works of the Project for the three years ending 31 December 2012; (iv) the prevailing market rates with respect to the Services; and (v) inflation.

Major Terms. Pursuant to the Master Agreement, CPL and DCHE agree with each other that in the event that the relevant member(s) of CPL Group engages the relevant DCH Service Provider(s) to provide Air-conditioning Solutions during the Relevant Period, it will be in the ordinary and usual course and on normal commercial terms of their respective businesses within the limit of the Air-conditioning Solutions Caps for the Relevant Period. According to the Master Agreement, the Air-conditioning Solutions shall generally be provided on the basis of the relevant DCH Service Provider’s response to tender(s) or quotation(s) (depending on the method in which the relevant member(s) of CPL Group requests Air-conditioning Solutions from the relevant DCH Service Provider), which would incorporate the general terms and conditions of service of the relevant DCH Service Provider. Subject to the guidelines and terms and conditions set out in the Master Agreement, the terms and conditions of such response to tender(s) or quotation(s) may be modified to cater for specific requirements of the relevant member(s) of the CPL Group, when necessary.

Major Terms. Pursuant to the Framework Agreement, the JV Company may enter into separate Service Contracts with the WLL Group to perform the Services in respect of the Project from time to time for a term of three years expiring no later than 31 December 2013. Detailed terms of each Service Contract, including the specific kind of Service, payment and other customary terms for the provision of such Service, will be determined on an arm’s length basis and according to the prevailing fair and usual market practice. The Services Fees will be determined in accordance with the prevailing market rate for such Services or, if there is no prevailing market rate available, with reference to the prevailing rate for the provision of similar services within the same industry. Such Services Fees will be funded by the internal resources of the JV Company. It is expected that the maximum annual Services Fees payable by the JV Company to the WLL Group under the Framework Agreement for the three years ending 31 December 2013 are as follows: Annual Caps 15,722,000 20,138,000 21,877,000 The Annual Caps are determined by reference to the internal projection of the Services Fees to be incurred with regard to (i) the acceleration of the construction progress based on the latest development plan of the Project for the three years ending 31 December 2013; (ii) the volume of the Service Contracts under negotiation and anticipated to be entered into between the JV Company and the WLL Group together with the prevailing market rates for the provision of such Services; and (iii) inflation. At the date of this announcement, the construction work in phase 1 of the Project is underway and it is expected that phase 1 will be completed in year 2013. Under the current development plan, the construction work of phases 2 and 3 of the Project will commence in year 2011. Nevertheless, the actual development schedule is subject to change and responsive to changes within the business parameters of the Group.

Major Terms. The Third Supplemental Agreement further extends the term of the Aircraft Agreement for three financial years so that the term shall end on 31 December 2019. It is expected that the maximum annual Fees payable by the Group to the Top Dynasty Group under the Aircraft Agreement as supplemented by the Third Supplemental Agreement for each of the three financial years ending 31 December 2019 will be as follows: Annual Caps RMB18.0 million (approximately HK$20.3 million) RMB18.0 million (approximately HK$20.3 million) RMB18.0 million (approximately HK$20.3 million) The Annual Caps are determined based on (i) the previous travelling schedules of the Chairman and the senior management of the Company; (ii) the internal projection of the Fees to be incurred by reference to the estimated flight hours based on the Group’s business growth; (iii) the high inflation and fuel costs environment; (iv) the prevailing market rates of similar services offered by an independent aircraft service provider; and (v) the historical amounts paid under the Aircraft Agreement during the two financial years ended 31 December 2014 and 31 December 2015 which are set out below. The Fees will be funded by the internal resources of the Group. Fees paid by the Group to the Top Dynasty Group RMB10.5 million (approximately HK$11.8 million) RMB8.0 million (approximately HK$9.0 million)