SALIENT TERMS OF THE JVA. The salient terms of the JVA include, amongst others, the following:
SALIENT TERMS OF THE JVA. (i) The JVA is conditional upon the fulfilment or waiver of the conditions precedent as set out below:-
SALIENT TERMS OF THE JVA. (i) The authorised share capital of the JVCO should be USD250,000 and the issued and paid-up share capital upon incorporation of the JVCO should be USD250,000 in stages.
SALIENT TERMS OF THE JVA. 2.1 IBSB’s and SDSB’s Duties and Obligations
SALIENT TERMS OF THE JVA. 3.1 Both Avia and DASB has agreed to incorporate a new company and hold 50% of the ordinary shares in the capital of JVCO as per following proposed structure :
SALIENT TERMS OF THE JVA. 3.1 Business Scope KFM and G2N (“the Parties”) agreed on a joint venture basis to set up or incorporate a Joint Venture Company (“JVCO”) namely Kawan2Nature Sdn Bhd, a private limited company incorporated in Malaysia on 16 December 2022 and having its registered address at 00-00 Xxx Xxxxxxxxx Xxx Xxxxxx Xxxx, 00000 Xxxxx Xxxxxx, Xxxxxxx Xxxxxxxxxxx [(Registration No. 202201045994 (1491691-V)] (“K2N”) to venture into biocompost business.
SALIENT TERMS OF THE JVA. 3.1 Sentoria and Seriemas (hereinafter collectively referred to as “Parties”), have agreed to carry out the Proposed JV on the Development Land on the basis that all sales revenue received by Sentoria in respect of the sale or disposal of the Units to external purchasers shall be shared between the Parties. Seriemas’ share of the Proposed JV is an amount of 10% - 15% of sales revenue. The revenue sharing ratio between the Parties is tabulated below. Sales revenue Revenue sharing ratio Seriemas’s Percentage Sentoria’s Percentage Up to RM1.0 billion 10% 90% Above RM1.0 billion up to RM1.58 billion 12% 88% Above RM1.58 billion 15% 85% In addition, Sentoria also guarantees payment to Seriemas of a total minimum sales revenue from the Proposed JV of RM75.0 million to be paid annually on staggered basis over the duration of the JVA of ten (10) years, unless extended by the Parties (“Minimum Revenue Guarantee”).
SALIENT TERMS OF THE JVA. 3.1 The Parties agree that the basis of the collaboration contemplated under the JVA is that the JV Company, within one (1) month from the date of the JVA or such other mutually agreed period, be awarded an exclusive distributorship right in Malaysia (including Sabah and Sarawak) by Nihon Kohden Singapore Pte Ltd, for distribution of “Nihon Kohden” medical devices for a minimum period of three (3) years on terms mutually agreed between the JV Company and Nihon Kohden Singapore Pte Ltd (“Exclusive Distributorship Rights”).
SALIENT TERMS OF THE JVA. 3.1 The Parties have agreed to incorporate a private limited company as the JVCO in Malaysia with an issued and paid-up share capital of up to Malaysian Ringgit (MYR)1,000,000.
SALIENT TERMS OF THE JVA. 3.1. In consideration of the respective benefits to be derived by SSI and TNSB (collectively, the “Parties”) as set out in paragraph 3.7 below and subject to the terms stipulated in the JVA:-
