Renewal of the Ton Yi Product Purchase Framework Agreement Sample Clauses

Renewal of the Ton Yi Product Purchase Framework Agreement. The demand for the Company’s products by Xxx Xx has maintained at a high level due to the continued development and commitment of relevant products by Xxx Xx, while the Company has sufficient production capacity and raw materials for production. The Board is of the opinion that the entering into of the New Ton Yi Product Purchase Framework Agreement is beneficial in raising the proportion of domestic sales of the Company as well as product diversification, which will in turn increase the revenue and profits of the Company. The Board (including independent non-executive Directors) considers that the transactions under the Pectin Product Purchase Framework Agreement, the New Hengtong Product Purchase Framework Agreement, the New President Product Purchase Framework Agreement and the New Ton Yi Product Purchase Framework Agreement are entered in the usual and ordinary course of business of the Company, and the terms of which are fair and reasonable and in the interests of the Company and the Shareholders as a whole. In addition, the Board (including the independent non-executive Directors) considers that the proposed annual caps for each of the three years ending 31 December 2021 for the transactions under the Pectin Product Purchase Framework Agreement and the New Hengtong Product Purchase Framework Agreement and the proposed annual caps for the period commencing on 1 January 2019 and expiring on 31 December 2019 for the transactions under the New President Product Purchase Framework Agreement and the New Ton Yi Product Purchase Framework Agreement are fair and reasonable.
Sample 1
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Related to Renewal of the Ton Yi Product Purchase Framework Agreement

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  • TERM OF FRAMEWORK AGREEMENT The Framework Agreement shall take effect on the Commencement Date and (unless it is otherwise terminated in accordance with the terms of this Framework Agreement or it is otherwise lawfully terminated) shall terminate at the end of the Term.

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