Sub-licensing of TPO Examination Materials Sample Clauses

Sub-licensing of TPO Examination Materials. Transaction description Under this transaction, our Group shall sub-license to New Oriental Group examination materials, including TOEFL materials, services and resources. Pricing policy Our Group shall charge New Oriental Group license fees to be agreed between the parties on a fair and reasonable basis with reference to, among others, the significance of the licences to New Oriental Group, original licensing costs and other comparable companies offering similar sub-licences for English language examination materials and services. The licensing fees are fixed annually at a predetermined price per package ordered that is set with reference to, among others, the retail price offered by ETS, the private educational testing and measurement organisation that is the administrator of TOEFL. Historical amounts and annual caps The historical transaction amounts and annual caps are set out below: RMB Historical Amounts Annual caps FY 2020 FY 2021 FY 2022 FY 2023 Received/receivable by us 16,900,000 15,100,000 25,000,000 20,000,000 Reasons and basis for the FY 2023 annual cap The FY 2023 annual cap for this transaction is based on the following factors: (i) historical transaction amounts; (ii) the agreement with, and costs of originally licensing, from ETS;