Operation Services Agreement Sample Clauses
An Operation Services Agreement is a contract that outlines the terms under which one party provides operational services to another, typically in the context of managing or running specific business functions or facilities. This agreement details the scope of services, performance standards, payment terms, and responsibilities of each party, and may include provisions for reporting, compliance, and dispute resolution. Its core practical function is to clearly define the expectations and obligations of both service provider and recipient, thereby minimizing misunderstandings and ensuring smooth, accountable operations.
Operation Services Agreement. The provisions of Section 2.06 (Claims), Article IV (Safety) and Section 5.01 (General Principles Regarding Relationship of the Parties) of the Operational Services Agreement (whether or not such agreement is in effect, terminated, suspended or expired) are incorporated by reference into this Agreement, mutatis mutandis.
Operation Services Agreement. Reference is made to the Company’s announcement dated 15 October 2021 in relation to the 2021 Operation Services Agreement entered into among the Company, Geely Holding and ▇▇▇▇ & CO, pursuant to which (i) the Group agreed to provide to the Geely Holding Group and ▇▇▇▇ & CO Group operation services that mainly include but not limited to IT, logistics, supplier quality engineering services, construction management services, manufacturing engineering services, procurement services and other administrative services; and (ii) the Group agreed to procure from the Geely Holding Group and ▇▇▇▇ & CO Group operation services that mainly include but not limited to business travel services and after-sales services for a term from 1 January 2022 to 31 December 2024. References are also made to the Company’s announcement dated 2 July 2021 in relation to the 2021 ZEEKR Operation Services Agreement and the Company’s announcement dated 29 March 2022 in relation to the Supplemental ZEEKR Operation Services Agreement entered into between the Company and ZEEKR, pursuant to which the Group agreed to provide to the ZEEKR Group operation services that mainly include IT, logistics, procurement, finance, human resources and other administrative functions for a term from 2 July 2021 to 31 December 2023. Taking into consideration (i) the increasing demand for operation services, particularly the business travel services, IT, human resources and marketing services; (ii) the increase in demand of charging services for NEVs; and (iii) the similar nature of operation expenses incurred by the Group under the 2021 Operation Services Agreement, 2021 ZEEKR Operation Services Agreement and the Supplemental ZEEKR Operation Services Agreement, on 9 June 2023 (after trading hours), the Company, Geely Holding, ▇▇▇▇ & CO and ZEEKR entered into the Operation Services Agreement to streamline the continuing connected transactions in relation to the provision of operation services for a term of three years from the effective date of the Operation Services Agreement to 31 December 2025. The principal terms of the Operation Services Agreement are summarised below: 9 June 2023 (after trading hours) The Company, Geely Holding, ▇▇▇▇ & CO and ZEEKR Pursuant to the Operation Services Agreement, (i) the Group agreed to provide to the Geely Holding Group, ▇▇▇▇ & CO Group and ZEEKR Group operation services that mainly include but not limited to IT, logistics, supplier quality engineering services, manufacturi...
Operation Services Agreement. The principal terms of the Operation Services Agreement are summarised below: 26 November 2019 The Company, Geely Holding and ▇▇▇▇ & CO Please refer to the paragraph headed “Exempted continuing connected transactions – (A) CBUs Sales Agreement – Parties” for further details regarding Geely Holding. Please refer to the paragraph headed “Exempted continuing connected transactions – (B) R&D and Technology Support Agreement – Parties” for further details regarding ▇▇▇▇ & CO. Pursuant to the Operation Services Agreement, (i) the Group agreed to provide to the Geely Holding Group and the ▇▇▇▇ & CO Group, operation services that mainly include IT, logistics, finance, human resources and other administrative functions; and (ii) the Group agreed to procure from the Geely Holding Group operation services that mainly include manufacturing engineering services, construction management services and other engineering services. The provision of operation services by the Group or the Geely Holding Group under the Operation Services Agreement will be conducted on normal commercial terms and on terms no less favourable to the Company than terms available to or from (as applicable) other independent third parties to the Company. Pursuant to the Operation Services Agreement, the service fee of the operation services will be determined on the basis of arm’s length negotiations between the relevant parties. The parties will refer to the market price of similar services, and if there is no such reference, the price will be determined based on the costs incurred for providing the relevant services plus a margin rate with reference to the cost-plus-margin rate of the comparable companies providing similar services as stated in the transfer pricing analysis reports prepared by an independent certified public accountant firm (the “Operation Services Transfer Pricing Analysis Reports”). The margin rate will be reviewed and adjusted on a yearly or as-needed basis by the relevant parties taking into account the fact that the margin rate of comparable companies may change over time. From the date of the Operation Services Agreement to 31 December 2021 The Operation Services Agreement is subject to the Company having complied with the relevant requirements of the Listing Rules with regard to the continuing connected transactions contemplated under the Operation Services Agreement. If the above condition has not been fulfilled on or before 31 December 2019 (or such later date as the parti...
Operation Services Agreement. On 26 November 2019, the Company, Geely Holding and ▇▇▇▇ & CO entered into the Operation Services Agreement pursuant to which (i) the Group agreed to provide to the Geely Holding Group and ▇▇▇▇ & CO Group operation services that mainly include IT, logistics, finance, human resources and other administrative functions; and (ii) the Group agreed to procure from the Geely Holding Group operation services that mainly include manufacturing engineering services, construction management services and other engineering services for a term from the date of the Operation Services Agreement to 31 December 2021. The proposed annual caps of the service fees receivable by the Group under the Operation Services Agreement for the three years ending 31 December 2021 are approximately RMB159.1 million, RMB1,198.4 million and RMB1,964.5 million, respectively. The proposed annual caps of the service fees payable by the Group under the Operation Services Agreement for the three years ending 31 December 2021 are approximately RMB51.8 million, RMB207.3 million and RMB269.5 million, respectively.
Operation Services Agreement. Reference is made to the Company’s announcement dated 26 November 2019 in relation to the 2019 Operation Services Agreement entered into among the Company, Geely Holding and ▇▇▇▇ & CO, pursuant to which (i) the Group agreed to provide the Geely Holding Group and ▇▇▇▇ & CO Group operation services that mainly include IT, logistics, finance, human resources and other administrative functions; and
Operation Services Agreement. The services to be provided by the Group pursuant to the Operation Services Agreement will be primarily for the ▇▇▇▇ & CO Group, the Proton Group and other companies associated with the Geely Holding Group. With established history in the automobile industry, the Group already possesses the administrative resources and experience in the operation of IT, logistics, finance, human resources and other administrative functions. The manufacturing engineering services, construction management services and other engineering services to be provided by the Geely Holding Group is for the continuous management in the construction and modification stage of the Group’s existing and new production plants. Since 2017, the Group has acquired nine manufacturing plants from the Geely Holding Group which were still under development at the times of the acquisitions. The initial preparation and construction stage of these plants were managed by staff from the Geely Holding Group prior to the acquisitions. The Directors are of the view that the entering into of the Operation Services Agreement is beneficial to the Group as (i) the operation services to be provided by the Group to the Geely Holding Group and the ▇▇▇▇ & CO Group are charged with reasonable margin rates over the actual costs, which will bring in additional revenue and income to the Group; and (ii) the operation services to be provided by the Geely Holding Group to the Group will provide relevant expertise to the Group in managing the construction and modification process of the Group’s existing and new production plants. Furthermore, the operation services to be provided to the Geely Holding Group and the ▇▇▇▇ & CO Group will be on terms no less favourable than those offered to the Geely Holding Group and the ▇▇▇▇ & CO Group by other independent third parties. Having considered the foregoing, the Directors (including the independent non-executive Directors) are of the view that the CBUs Sales Agreement and the R&D and Technology Support Agreement are entered into in the ordinary and usual course of business of the Group and on normal commercial terms. Although the Operation Services Agreement is not entered into in the ordinary and usual course of business of the Group, the Directors (including the independent non-executive Directors) are of the view that it is entered into on normal commercial terms. Furthermore, the Directors (including the independent non- executive Directors) are of the view that the terms an...
Operation Services Agreement