SALIENT TERMS OF THE AGREEMENT. The words and abbreviations used throughout this section of the Announcement shall have the same meaning as defined in the Agreement unless the context otherwise requires or defined herein.
2.5.1 The Purchase Price shall be paid by the Purchaser in the following manner :
(i) RM120,000 only (“Deposit”) to be paid to the Vendor's Solicitors as stakeholders upon the execution of the Agreement and shall release the Deposit to the Vendor within seven (7) days from the date of the Agreement deemed unconditional upon the compliance and fulfilment or waiver by the Purchaser of all the Conditions Precedent (“Unconditional Date”).
(ii) RM1,800,000 only (“Agreed Redemption Sum”) to be paid to the Vendor's Financier(s) for the Assets under hire-purchase and/or lease financing ("Financiers") within the Completion Period or the Extended Completion Period, as the case may be. To this end, the Vendor shall forward a redemption statement indicating the total sum outstanding and/or owing to the Financiers payable to redeem and/or discharge the Assets within seven (7) days from the Unconditional Date, failing which, the Completion Period shall be extended in favour of the Purchaser accordingly for such period of delay free from any interest. The Purchaser shall undertake to forward the Agreed Redemption Sum to the Financiers within the Completion Period or the Extended Completion Period, as the case may be, failing which, the Completion Period shall be extended in favour of the Vendor accordingly for such period of delay free from any interest.
(iii) RM1,080,000 (“Balance Sum”) to be paid to the Vendor's Solicitors as stakeholders within the Completion Period or the Extended Completion Period, as the case may be, and the Vendor's Solicitor is hereby authorised and instructed by the Parties to release the Balance Sum to the Vendor on the Completion Date.
SALIENT TERMS OF THE AGREEMENT. The salient terms and conditions of the Agreement, among others, are set out as follows:-
SALIENT TERMS OF THE AGREEMENT. 3.1. The Agreement will be effective on the date of signing of the Agreement and will expire on 31 July 2022, unless terminated earlier by either AAB or AAX, for any reasons whatsoever, by providing thirty (30) days’ prior written notice. In the event of a material breach, either AAB or AAX can terminate the agreement by providing an immediate notice to remedy to the non-defaulting Party. If the defaulting Party doesn't remedy within thirty (30) days, then the non-defaulting Party may terminate the Agreement without further notification.
3.2. AAB will lease one (1) Airbus A330-343 aircraft from AAX in accordance with the terms and conditions stipulated under the Agreement and the Terms and Conditions of Carriage.
3.3. AAB will pay AAX a total estimated consideration of Ringgit Malaysia Two Million One Hundred Eighty One Thousand Three Hundred Seventy Five (RM2,181,375), exclusive of the 6% Sales and Service Tax, within thirty (30) days from the receipt of the invoice from AAX. The total estimated consideration due to AAX comprises actual flown and planned wet lease of the aircraft on an hourly billing basis for the period of the agreement. The final total payment will vary based on hours eventually flown.
3.4. In the event of any cancellation, re-route and/or re-schedule of the flights for commercial reasons, AAB will give forty-eight (48) hours’ prior notice to AAX and if such changes lead to additional direct costs for AAX, then AAB will compensate AAX such costs in full.
3.5. The Agreement is governed by the laws of Malaysia and any dispute will be resolved by arbitration at the Asian International Arbitration Centre.
SALIENT TERMS OF THE AGREEMENT. 3.1 Scope of Agreement When NISB has product demand, it shall promptly negotiate with Shanghai Liangrun on the quantity, price and delivery place of the Diagnostic Kit, which shall become effective upon confirmation by both parties. The parties understand that NISB’s 51% owned subsidiary, TRI-G is the company registered under Medical Device Authority (MDA), Ministry of Health, Malaysia and licensed to operate under the Medical Device Xxx 0000 (Act 737) shall be in the best endeavours to obtain the necessary approval and license for the Diagnostic Kit to be distributed in Malaysia and in Indonesia. In the event that any of the applications to the MDA in Malaysia or equivalent authority in Indonesia is rejected or with conditions not reasonable or acceptable to the relevant parties or shall not have been given or not obtained, where as there is no other products of interest for approval, either party may terminate this Agreement immediately.
SALIENT TERMS OF THE AGREEMENT. The Parties hereby agree that the principal terms of the Agreement shall include, inter alia, the following:-
SALIENT TERMS OF THE AGREEMENT. 3.1. The Agreement will be effective on the date of signing of the Agreement and will expire on 31 October 2022, unless terminated earlier by either AAB or AAX, for any reasons whatsoever, by providing thirty (30) days’ prior written notice. In the event of a material breach, either AAB or AAX can terminate the agreement by providing an immediate notice to remedy to the non-defaulting Party. If the defaulting Party doesn't remedy within thirty (30) days, then the non-defaulting Party may terminate the Agreement without further notification.
3.2. AAB will lease one (1) Airbus A330-343 aircraft from AAX in accordance with the terms and conditions stipulated under the Agreement and the Terms and Conditions of Carriage.
3.3. AAB will pay AAX a total estimated consideration of Ringgit Malaysia Sixteen Million Nine hundred Ten Thousand Four Hundred and Fifty Nine (USD 3,836,311 x 4.408* = RM 16,910,459), exclusive of the 6% Sales and Service Tax, within thirty (30) days from the receipt of the invoice from AAX. The total estimated consideration due to AAX comprises actual flown and planned wet lease of the aircraft on an hourly billing basis for the period of the agreement. The final total payment will vary based on hours eventually flown.
3.4. In the event of any cancellation, re-route and/or re-schedule of the flights for commercial reasons, AAB will give forty-eight (48) hours’ prior notice to AAX and if such changes lead to additional direct costs for AAX, then AAB will compensate AAX such costs in full.
3.5. The Agreement is governed by the laws of Malaysia and any dispute will be resolved by arbitration at the Asian International Arbitration Centre. * Based on Bank Negara Malaysia exchange rate on 30 June 2022
SALIENT TERMS OF THE AGREEMENT. With this Agreement, the Group is authorised to distribute, market and sell SDPRO and SDST products in Malaysia. SDPRO and SDST are patented, cutting edge nanotechnology-based products, which are highly effective in eliminating 99.99% of viruses, bacteria, fungi and mold, including Covid-19, SARS, MERS, Coxsackie viruses and other dangerous pathogens such as E. coli and Salmonella. The key difference between SDPRO/SDST and other widely used disinfectants like bleach and alcohol-based solvents is that SDPRO/SDST bonds covalently with a surface once it is applied and effectively prevents subsequent recontamination for the entire specified period (SDPRO: 12 months, SDST: 3 months). SDPRO/SDST can be applied on various types of surfaces such as metal, concrete, glass, wood, plastics, ceramics, leather and even fabrics. The products have been awarded various certifications globally such as from SIRIM Malaysia, US Environmental Protection Agency, South Africa NRCS, Merieux NutriSciences, South Korea Ministry of Environment, China CDC, Brazil ANVISA and the Singapore National Environment Agency. SDPRO and SDST are certified non-toxic and environmentally friendly. SDPRO and SDST are currently being used in hospitals, universities and colleges, retail malls, office buildings, banks, as well as airports in Malaysia, Singapore and around the world. Past and ongoing projects of SSB and its counterparts include Singapore Changi Airport, Monetary Authority of Singapore, National University of Singapore, DBS Bank, Gardens Mall, Mid- Valley and The Exchange 106 at Tun Razak Exchange. Under this partnership for the Malaysian market, KANGER will primarily be responsible for business development and marketing of SDPRO/SDST to various private and governmental sectors. All technical aspects and manual coating applications, including follow-up monitoring, will be handled by SSB’s trained and individually certified staff using specialised equipment. SSB shall bear and further indemnifies KANGER against all claims, liabilities and costs potentially arising from application of SSB products or from Kanger acting in its role as a subdistributor for such products.
SALIENT TERMS OF THE AGREEMENT. 4.1 Pursuant to the terms and conditions of the Agreement, GAC AION grants WTCA the exclusive right to do the following during the Term (hereinafter defined) in Malaysia:
(a) to import, distribute and sell the Vehicles supplied by GAC AION;
(b) to import, distribute and sell Spare Parts;
(c) to provide after-sale services on the Vehicles; and
(d) to appoint dealers to distribute and sell Vehicles, Spare Parts and/ or provide after-sale services on the Vehicles.
4.2 The Agreement shall be effective for a term of three (3) years which shall take effect from the date of the Agreement (“Term”) and the Agreement may be renewed by either party by serving a notice in writing at least three (3) months prior to the expiration of the Agreement.
SALIENT TERMS OF THE AGREEMENT. (A) Details of the Lease
SALIENT TERMS OF THE AGREEMENT. The salient terms of the Agreement, inter-alia, are as follows:
(i) A sum of RM550,000.00 equivalent to 10% of the Purchase Price shall be paid by the Purchaser to the Vendor upon the execution of the Agreement (“Deposit”). The parties agree that the Deposit shall be deemed paid by the Purchaser by setting-off of an equivalent sum thereof against part of the indebtedness owing by CPSB to the Company.
(ii) A sum of RM4,950,000.00 equivalent to 90% of the Purchase Price (“Balance Sum”) shall be paid by the Purchaser on or before the last day of a period of fourteen (14) days commencing on the date of satisfaction or fulfilment of the conditional precedent as set out in the Agreement.
(iii) The Purchaser to obtain a developer’s confirmation to the sale by the Vendor to the Purchaser pursuant to Section 22D (4) of the Housing Development (Control and Licensing) Act, within a period of three (3) months from the date of the Agreement.
(iv) Simultaneously with the execution of the Agreement and subject to payment or deemed payment of the full Purchase Price, the Vendor shall issue and execute the Irrevocable Letter of Instruction to the developer, KH Land Sdn Bhd, notifying the developer that the Purchaser is the beneficial owner of the Property and irrevocably and unconditionally instruct the developer that in the event that strata title is issued in respect of the Property, the developer shall cause and procure proprietor RHB Trustees Berhad (formerly known as “OSK Trustees Berhad”) to execute the transfer of the Property in favour of the Purchaser or its nominee(s).
(v) After the setting-off of the Purchase Price against part of the Indebtedness, CPSB shall pay the remaining sum of Indebtedness of RM47,651.31 to the Company at such times and in such manner as CPSB and the Company may from time to time agree upon.
