SALIENT TERMS OF THE JV AGREEMENT Sample Clauses

SALIENT TERMS OF THE JV AGREEMENT. The JV Agreement signed is aimed to provide a basic framework of collaboration among Tri-Mode, OFS and LTTA (collectively known as “JV Parties”) to provide logistics services in Vietnam.
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SALIENT TERMS OF THE JV AGREEMENT. (i) The Board of the JV Company shall consist of at least two (2) members, one (1) Director each appointed by FMGLV and CNL or such number of members in proportionate to their respective shareholdings. (ii) The Parties shall contribute RM999,998 each to increase the share capital of CNFML to RM2,000,000 divided into 2,000,000 ordinary shares or such other sums as may be from time to time decided by the Board. The Parties shall subscribe for such number of shares in the JV Company as may be deemed necessary by the Board in accordance with the following proportion: Shareholders Percentage of shareholdings (%) FMGLV 50 CNL 50 (iii) Unless all the Parties otherwise agree, the operational and capital requirements of the JV Company will be met by one or more of the following means (not necessarily in the following order of priority or sequence):- (a) retained earnings of the JV Company; (b) borrowings and credit facilities from third parties; (c) loans to be provided by the shareholders; and (d) subscription by the shareholders for additional shares having voting rights in the JV Company or securities or instruments convertible into or giving a right to subscribe for shares having voting rights in the JV Company. (iv) The Board shall delegate to the General Manager of the JV Company, of whom shall be nominated jointly by FMGLV and CNL, such power, authority and discretion as may be necessary or expedient for the said General Manager to discharge his/her duties for the day-to-day management of the JV Company which includes financial management, operations management and human resource management and implementing annual business plan approved by the Board. (v) The JV Agreement shall continue in full force and effect so long as the Parties hereto hold shares in the JV Company and subject to the provisions contained therein shall terminate upon the dissolution of the JV Company.
SALIENT TERMS OF THE JV AGREEMENT. 2.2.1 Structure of the JV Company and Equity Participation Sanichi and PDZ have agreed that within thirty (30) days of the execution of the JV Agreement, a JV Company shall be formed with an issued share capital of RM1,000.00 only comprising 1,000 ordinary shares to be held by the Parties in the following proportion: Shareholders Number of Shares Percentage of Shareholding Sanichi 600 60% PDZ 400 40% Total 1,000 100% Within three (3) months from the execution of the JV Agreement, the issued share capital of the JV Company shall be increased to RM22,500,000.00 comprising 22,500,000 ordinary shares to be held by the Parties as follows: Sanichi 13,500,000 60% PDZ 9,000,000 40% Sanichi shall subscribe for the abovementioned shares by transferring the ownership of the Land to the JV Company with the market value of not less than RM13,500,000.00. In the event that the Land is not available to be injected into the JV Company, Sanichi covenants and undertakes with PDZ to subscribe for all the shares in its proportion for cash, payable upon allotment. PDZ shall subscribe for the shares by cash which is payable upon allotment.
SALIENT TERMS OF THE JV AGREEMENT. JVA shall commence on the date first written above and remain in full force and effect for an initial period of 10 Years (the “Initial Term”). At the end of the Initial Term, JVA will automatically renew in one year increments (each, a “Renewal Term”), unless and until JVA is terminated.
SALIENT TERMS OF THE JV AGREEMENT. The Owner is the beneficial owner of all those piece of Land. The existing category of the said Land is “Building”. The Developer has agreed to undertake the development of the Land jointly with the Owner upon the terms and conditions as contained in the JV Agreement. The Owner has agreed to accept the proposal of the Developer to develop the Land and the Developer has agreed to develop the Land.
SALIENT TERMS OF THE JV AGREEMENT 

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