Ownership of the Leased Assets. 3.1 During the Lease Term, the ownership of the Leased Assets as listed in the Appendix to this Agreement, including any parts and components, replacement CONFIDENTIAL TREATMENT REQUESTED BY CONCORD MEDICAL SERVICES HOLDINGS LIMITED parts, attached parts and auxiliary parts of (or to be attached to) the Leased Assets, shall always belong to Party B. During the Lease Term, Party A shall only enjoy the right to use the Leased Assets. Party A may not sell, transfer, sub-lease, mortgage, or make investment by means of, the Leased Assets, or otherwise conduct any other action that may infringe Party B’s rights and benefits. Otherwise, Party A shall assume corresponding breach of contract liabilities.
Ownership of the Leased Assets. During the lease period, the ownership of the Leased Assets shall be vested in the Harbin Electric Finance Lease Company. If the Lessees have properly and fully performed all obligations under the Finance Lease Agreements, upon the expiry of the Finance Lease Agreements, Harbin Electric Finance Lease Company will transfer the Leased Assets to the Lessees at the consideration of RMB100 in nominal value. Guarantee The guarantee arrangements for the Finance Lease Agreement I and the Finance Lease Agreement II are set out below:
Ownership of the Leased Assets. The ownership of the Leased Assets under the Finance Lease Agreement will be vested in TP Leasing throughout the lease period. At the end of the lease period and subject to payments by ZNXY of (i) all amounts due under the Finance Lease Agreement; and (ii) a nominal consideration of RMB1 for the Leased Assets, the ownership of the Leased Assets will be vested in ZNXY. The estimated aggregate lease payments under the Finance Lease Agreement were determined after arm’s length negotiations between parties to the Finance Lease Agreement by reference to the principal amounts of the lease and the prevailing market interest rate for finance lease of comparable machines, equipment and ancillary facilities.
Ownership of the Leased Assets. The ownership of the Leased Assets under the Finance Lease Agreement will be vested in ICBC Leasing throughout the lease period. At the end of the lease period and subject to payment by JDEC and Tianjin Clean Energy of (i) all amounts due under the Finance Lease Agreement; and (ii) a nominal consideration of RMB1, the ownership of the Leased Assets will be vested in JDEC and Tianjin Clean Energy. THE CONSULTANCY AGREEMENT I On 14 March 2017, JDEC entered into the Consultancy Agreement I with ICBC Leasing, pursuant to which JDEC agreed to engage ICBC Leasing for providing certain consultancy services relating to the Leased Assets, which includes, among others, valuation of assets and supervision on the operation of the Leased Assets for a period of 10 years, at a total services fee of RMB2,385,000 payable by JDEC to ICBC Leasing within 10 days upon signing of the Consultancy Agreement I. THE CONSULTANCY AGREEMENT II On 14 March 2017, JDEC entered into the Consultancy Agreement II with ICBC Leasing, pursuant to which JDEC agreed to engage ICBC Leasing for providing certain consultancy services relating to the finance lease arrangement, which includes, among others, the financial and tax consultation services for the period from 15 January 2017 to 31 March 2017, at a total services fee of RMB2,385,000 payable by JDEC to ICBC Leasing within 10 days upon signing of the Consultancy Agreement II. The estimated aggregate lease payments under the Finance Lease Agreement and the service fees under the Consultancy Agreements were determined after arm’s length negotiations between the parties to the Finance Lease Agreement and the Consultancy Agreements by reference to the principal amount of the lease and the prevailing market interest rate for finance leases of comparable machines and equipment.
Ownership of the Leased Assets. The ownership of the Leased Assets under the Finance Lease Agreement will be vested in XXX Leasing throughout the lease period. At the end of the lease period and subject to payments by Jinjie New Energy and BTJY of (i) all amounts due under the Finance Lease Agreement; and (ii) a nominal consideration of RMB100 for the Leased Assets, the ownership of the Leased Assets will be vested in Jinjie New Energy and BTJY, respectively. The estimated aggregate lease payments under the Finance Lease Agreement were determined after arm’s length negotiations between parties to the Finance Lease Agreement by reference to the principal amounts of the lease and the prevailing market interest rate for finance lease of comparable machines, equipment and ancillary facilities.
Ownership of the Leased Assets. During the lease period, the ownership of the Leased Assets under the Finance Lease Agreement will be vested in Hebei Financial Leasing and Datong Wantong has the rights to use the Leased Assets. At the end of the lease period and subject to payments by Xxxxxx Xxxxxxx of all amounts due under the Finance Lease Agreement, the ownership of the Leased Assets will be vested in Datong Wantong at nil consideration. The estimated aggregate lease payments under the Finance Lease Agreement were determined after arm’s length negotiations between the parties to the Finance Lease Agreement with reference to the principal amounts of the lease and the prevailing market interest rate for finance lease of comparable assets.
Ownership of the Leased Assets. During the lease period, the ownership of the leasing equipment shall be vested in CNECFL. If Zhejiang Unisun has properly and fully performed all obligations under the Zhejiang Unisun Finance Lease Framework Agreement, upon the expiry of the Zhejiang Unisun Finance Lease Framework Agreement, Zhejiang Unisun is entitled to acquire the leasing equipment at nominal value.
Ownership of the Leased Assets. (a) It is the intent of the parties hereto that for financial accounting and reporting purposes this Lease constitutes an "operating lease" pursuant to Statement of Financial Accounting Standards No. 13, as amended, and for purposes of commercial, real estate, bankruptcy and federal, state and local income tax law, the transaction contemplated hereby is a financing arrangement and preserves ownership of the Property in the Lessee.
Ownership of the Leased Assets. 3.1 During the Lease Term, the ownership of the Leased Assets as listed in the Appendix to this Agreement, including any parts and components, replacement parts, attached parts and auxiliary parts of (or to be attached to) the Leased Assets, shall always belong to Party B. During the Lease Term, Party A shall only enjoy the right to use the Leased Assets. Party A may not sell, transfer, sub-lease, or set mortgage over the Leased Assets or dispose the Leased Assets as investment, and may not conduct any other actions that may infringe Party B’s rights and benefits. Otherwise, Party A shall take the corresponding liabilities for breach of the Agreement.
Ownership of the Leased Assets. (a) It is the intent of the parties hereto that: (i) this Lease constitutes an operating lease from the Lessor to the Lessee for the purposes of the Lessee's financial reporting, (ii) the Lease and other transactions contemplated hereby shall be treated as a financing arrangement, and Lessee shall be treated as the owner of each Leased Asset for Federal, State and local and other income and property tax and bankruptcy purposes and (iii) the obligations of the Lessee to pay Base Rent and any part of the Lease Balance shall be treated as payments of interest and principal, respectively, for Federal, State, local and other income tax and bankruptcy purposes and the Lessee alone shall be entitled to take any deduction, credit allowance or other reporting, filing or other tax position consistent with such characterizations. The Lessee has granted a mortgage lien on and security interest in all of its right, title and interest in and to each Leased Asset to, or for the benefit of, the Lessor, pursuant to each Mortgage made by Lessee, to secure the payment and performance by the Lessee of all of its obligations under the Lease and the other Operative Documents that are attributable or allocable to the Lessor Contribution of the Advances comprising the Lease Balance for such Leased Assets. Each of the parties hereto agrees that it will not, nor will it permit any Affiliate to at any time, take any action or fail to take any action, including any action with respect to the preparation or filing of any income tax return, including an amended income tax return, to the extent that such action or such failure to take action would be inconsistent with the intention of the parties expressed in this Section 30.1.
