REASONS FOR AND BENEFITS OF ENTERING INTO THE SECOND SUPPLEMENTAL AGREEMENT Sample Clauses

REASONS FOR AND BENEFITS OF ENTERING INTO THE SECOND SUPPLEMENTAL AGREEMENT. The terms and conditions of the Second Supplemental Agreement are negotiated on an arm’s length basis between the Lender and Borrower. The Directors (including the independent non-executive Directors) consider that the Second Supplemental Agreement is entered into on normal commercial terms. Taking into account that (i) the Loan has been funded from the Group’s temporarily idle funds, which would not affect the working capital or daily operations of the Group; (ii) the expected return to be generated from the Loan as extended by the Second Supplemental Agreement, taking into account the higher interest negotiated with the Borrower under the Second Supplemental Agreement, would increase the Group’s revenue, and (iii) entering into the Second Supplemental Agreement facilitates the Borrower in expediting its business expansion, which in turn maintains a good foundation for the Group and the Borrower to seek further business cooperation opportunities if and when appropriate, the Directors (including the independent non-executive Directors) believe the transaction under the Second Supplemental Agreement is fair and reasonable and in the interests of the Company and its shareholders as a whole.
Sample 1
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REASONS FOR AND BENEFITS OF ENTERING INTO THE SECOND SUPPLEMENTAL AGREEMENT. As disclosed in the interim report of the Company for the six months ended 30 June 2020 published on 18 September 2020, the Company successfully acquired the West- 6 berth in November 2019 and the berth reconstruction project was slightly delayed due to the impact of COVID-19 pandemic and market factors but the reconstruction of the West-6 berth was expected to move forward by the end of 2020 with further improvement of the pandemic control and gradual stabilisation of market development. In the second half of 2020, global market remains uncertain with the recurring outbreak of COVID-19 pandemic. There had been slow progress in the reconstruction of the West-6 berth due to the COVID-19 pandemic and various market factors and as such the completion time of the berth reconstruction project is uncertain. Taking into account (a) the uncertainty of the completion time of the West-6 berth reconstruction project due to the factors as discussed above; (b) the Company’s aim to work out an appropriate arrangement to ensure suitable economic benefits to be accrued to the Company after the completion of the acquisition of the West-6 berth; and (c) the West-6 berth is currently equipped with port facilities specialised for container cargoes, the Board considers that entering into the Second Supplemental Agreement to lease the West-6 berth as a temporary arrangement will enable the Company to establish an additional revenue stream such that economic benefits can be accrued to the Company in relation to the West-6 berth. The terms of the Property Lease (Sale) Framework Agreement (as further amended by the Second Supplemental Agreement) have been arrived at after arm’s length negotiations between the parties. The Directors (excluding all the independent non- executive Directors who will give their opinion based on the recommendations from the independent financial adviser) have confirmed that the transactions contemplated under the Property Lease (Sale) Framework Agreement (as further amended by the Second Supplemental Agreement) (including the Revised Annual Caps) are fair and reasonable, on normal commercial terms or better and in the ordinary and usual course of business of the Company, and are in the interests of the Company and the Shareholders as a whole. None of the Directors has any material interest in the Second Supplemental Agreement and the transactions contemplated thereunder, and none of the Directors was required to abstain from voting on the board resoluti...
Sample 1
REASONS FOR AND BENEFITS OF ENTERING INTO THE SECOND SUPPLEMENTAL AGREEMENT. The terms of the Second Supplemental Agreement, including the interest rate, were negotiated on an arm’s length basis by the parties with regard to the prevailing market rates and practices. Having considered factors including the extended term of the Loan, the revised repayment schedules and the interest rate offered by certain commercial banks in respect of short-term loans, the parties agreed to revise the interest rate of the Loan. Comparing with the prevailing interest rate for short-term loans offered by certain commercial banks in the PRC to the public of 4.35%, the interest rate of 4.785% under the Second Supplemental Agreement remains attractive to generate a stable interest income to the Group. The Directors considered that the Second Supplemental Agreement would be beneficial to the Group as a whole. Taking into account (i) the interest income to be received by the Group; (ii) the intention of maintaining a long term business relationship with the Borrower; and (iii) the credit assessments and repayment ability of the Borrower, the Guarantor and the New Guarantor, the Directors considered that the terms and conditions of the Second Supplemental Agreement are of normal commercial terms, fair and reasonable and are in the interests of the Company and the Shareholders as a whole.
Sample 1
REASONS FOR AND BENEFITS OF ENTERING INTO THE SECOND SUPPLEMENTAL AGREEMENT. The Directors have been closely monitoring the Provision of Financial Assistance. With an increasing demand on the Payment Agent Services to be provided by Win Techno to Huobi Worldwide and the fact that the monthly Usage Fees between November 2020 and January 2021 has almost reached the Existing Caps, the Directors are of the view that the Existing Caps will soon be insufficient to cover the monthly maximum amount of financial assistance to be provided by Win Techno to Huobi Worldwide. Accordingly, Win Techno and Huobi Worldwide entered into the Second Supplemental Agreement on 11 March 2021 to revise the Existing Caps during the New Term in order to comply with Rules 14A.54 of the Listing Rules while maintaining the Payment Agent Services. The Second Supplemental Agreement shall be effective from the date of obtaining the Independent Shareholders’ approval at the EGM. As Win Techno is entitled to require Huobi Worldwide to make deposit payment in such amount and at such time as it thinks fit, it helps to lower the risk of exposure to be suffered by Win Techno when providing the financial assistance to Huobi Worldwide. Meanwhile, Win Techno will receive commission from AWS Group for participating in the AWS partner network and providing the Payment Agent Services to end-customers (such as Huobi Worldwide), the Revised Caps enables Win Techno to earn more commission from AWS Group for providing the Payment Services for and on behalf of Huobi Worldwide. The terms of the Second Supplemental Agreement were agreed by the parties after arm’s length negotiations. Having considered that the Revised Caps and the proposed New Term under the Second Supplemental Agreement will allow the Company to continue to receive commission from AWS Group for providing the Payment Agent Services to Huobi Worldwide, the Directors (excluding the independent non-executive Directors who will form their view after seeking advice from Gram Capital) are of the view that the terms of the Second Supplemental Agreement and the Revised Caps in respect of the monthly amount under the Provision of Financial Assistance and hence the Maximum Financial Assistance Amount are fair and reasonable and are entered into on normal commercial terms, or on terms no less favorable than those available to independent third parties under prevailing local market conditions, and in the ordinary and usual course of business of the Group and in the interests of the Company and the Shareholders as a whole.
Sample 1
REASONS FOR AND BENEFITS OF ENTERING INTO THE SECOND SUPPLEMENTAL AGREEMENT. OFA is a licensed money lender. The grant of the Loan to the Customer pursuant to the Loan Agreement is in the ordinary course of business of OFA and can generate a stable revenue and cash flow stream to the Group from interest income. Given that the terms of the Second Supplemental Agreement were negotiated on an arm’s length basis between OFA and the Customer with reference to OFA’s credit policy and the prevailing market rate, and taken into account the repayment track record of the Customer, the Directors are of the view that the Extension and the entering into the Second Supplemental Agreement are fair and reasonable and in the interest of the Company and its shareholders as a whole. As some of the applicable percentage ratios under Rule 14.07 of the Listing Rules in respect of the Loan (as further extended by the Second Supplemental Agreement) exceed 5% but all are less than 25%, the Extension constitutes a discloseable transaction for the Company under Chapter 14 of the Listing Rules and is subject to the reporting and announcement requirements under the Listing Rules.
Sample 1

Related to REASONS FOR AND BENEFITS OF ENTERING INTO THE SECOND SUPPLEMENTAL AGREEMENT

  • Amendments to Employment Agreement Effective as of the date hereof, the Employment Agreement shall be amended as provided in this Section 1.

  • Amendment to Employment Agreement 2 of the Employment Agreement is amended and restated in its entirety to read as follows:

  • STANDARD TERMS AND CONDITIONS OF TRUST Subject to the provisions of Part II hereof, all the provisions contained in the Standard Terms and Conditions of Trust are herein incorporated by reference in their entirety and shall be deemed to be a part of this instrument as fully and to the same extent as though said provisions had been set forth in full in this instrument.

  • Amendment to Schedules Schedule 2.01 of the Credit Agreement shall be and it hereby is amended in its entirety by substituting Schedule 2.01 attached hereto.

  • Supplementary Agreement The parties stipulate and agree that the escrow provisions in this Section 6(b) (Escrow Establishment) of Attachment B (Facility Owned by Seller) and the Source Code Escrow Agreement and Proceeds Escrow Agreement are "supplementary agreements" as contemplated in Section 365(n)(1)(B) of the Code. In any voluntary or involuntary bankruptcy proceeding involving Seller, failure by Company to assert its rights to "retain its rights" to the intellectual property encompassed by the Source Code or the funds in the Proceeds Escrow, pursuant to Section 365(n)(1)(B) of the Code, under an executory contract rejected in a bankruptcy proceeding, shall not be construed as an election to terminate the contract by Company under Section 365(n)(1)(A) of the Code.

  • Amendment to Schedule The Grantor authorizes the Collateral Agent to modify this Agreement and the Assignments of Trademarks, without the necessity of such Grantor’s further approval or signature, by amending Schedule A hereto and the Annex to each Assignment of Trademarks to include any future or other Trademarks, Trademark Licenses, Trade Secrets or Trade Secret Licenses that become part of the Trademark Collateral under Section 2 or Section 3.1.

  • Supplementary Agreements II.13.1 Any amendment to the grant conditions must be the subject of a written supplementary agreement. No oral agreement may bind the parties to this effect. II.13.2 The supplementary agreement may not have the purpose or the effect of making changes to the agreement which might call into question the decision awarding the grant or result in unequal treatment of applicants. II.13.3 If the request for amendment is made by the beneficiary, he must send it to the Commission in good time before it is due to take effect and at all events one month before the closing date of the action, except in cases duly substantiated by the beneficiary and accepted by the Commission.

  • Separation Agreement and General Release The Company’s obligation to make the Severance Payment is conditioned on Executive or Executive’s legal representatives executing a separation agreement and general release of claims related to or arising from Executive’s employment with the Company or the termination of employment against the Company and its affiliates (and their respective officers and directors) in a form reasonably determined by the Company, which shall be provided by the Company to Executive within five days following the Date of Termination; provided that, if Executive should fail to execute (or revokes) such release within 45 days following the Date of Termination, the Company shall not have any obligation to provide the Severance Payment. If Executive executes the release within such 45-day period and does not revoke the release within seven days following the execution of the release, the Severance Payment will be made in accordance with Section 4(a)(ii).

  • AMENDMENT TO EMPLOYMENT CONTRACT DATE September, 2019 The employment contract between School District 271, Kootenai County, State of Idaho, and XXXXX XXXXXXXX for the 2019/2020 school year is hereby amended as follows: The salary to be paid this certificated employee will be changed to $24,071 placement: BA plus 22 credits on year 8.5 working 0.5 FTE for 190 days. This amendment to the contract only changes the placement and salary amount. Other items listed in the original contract remain the same.

  • Complete Agreement; Modification of Agreement This Agreement constitutes the complete agreement among the parties hereto with respect to the subject matter hereof, supersedes all prior agreements and understandings relating to the subject matter hereof, and may not be modified, altered or amended except as set forth in Section 8.6.

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