TERMINATION OF THE SUBSCRIPTION AGREEMENT. 1.1. Upon execution of this Agreement, the Parties hereby agree that the Subscription Agreement shall be terminated and such termination shall be effective as of the Effective Date.
TERMINATION OF THE SUBSCRIPTION AGREEMENT. We refer to the announcement (the “Announcement”) of NVC Lighting Holding Limited (the “Company”) dated 27 June 2017. As disclosed in the Announcement, on 27 June 2017, the Company and the Rising Wealth Limited (as the subscriber) entered into the subscription agreement (the “Subscription Agreement”), pursuant to which, Rising Wealth Limited conditionally agreed to subscribe and the Company conditionally agreed to allot and issue under the General Mandate in aggregate a total of 257,330,000 Shares. Terms used in this announcement shall have the same meanings as defined in the Announcement unless otherwise defined.
TERMINATION OF THE SUBSCRIPTION AGREEMENT. 8.1. The Client has the right to terminate the Subscription Agreement at any time, without notice, by clicking the “End Subscription” button available in the Account or by submitting an appropriate statement via the Account.
8.2. The Subscription Agreement shall terminate upon termination of the Subscription Service. The Client shall pay the Subscription price for the use of the Software by the date of termination of the Subscription Service.
8.3. If the Agreement is terminated prior the expiration of the paid-up Subscription period, the Client shall be entitled to a refund of the unused portion of the Subscription price:
a) The Home Client will be refunded a portion of the Subscription price calculated in proportion to the period of use of the Subscription has been in effect,
b) The Commercial Client will receive a refund of unused funds accumulated in the Account Balance, in an amount that depends on the use of the Software and the accepted billing terms as set out in the selected License Plan.
8.4. The Company will refund to the Client the portion of the payment in accordance with the calculations specified in item 8.3 above, no later than 30 days after the date on which the Company receives the notice of termination. The refund of payments will be made by the same method of payment used by the Client in the original transaction. The Client is obliged to provide all necessary information for the refund. The above entitlement is without prejudice to the Home Client’s right to withdraw the Agreement in accordance with Chapter IV, Section 8 of the Agreement.
8.5. The Company considers the abuse of the Client’s right to terminate the Agreement, including ordering the Subscription several times and terminating it immediately, to be an act contrary to the principles of social coexistence and the Agreement. The Company will not accept any actions by the Client that are not in accordance with the terms of the Agreement. The Company reserves the right to monitor the Client’s activity in order to identify any suspicious activities, such as frequent ordering of Subscriptions and immediate termination. If such activities are detected, the Company may block the Client from reordering the Subscription, informing the Client of the decision made and the possibility to appeal against it.
TERMINATION OF THE SUBSCRIPTION AGREEMENT. 1.1 Each Atlas and Xxxxx agrees that:
1.1.1 the Subscription Agreement is hereby terminated and ceases to have effect from the date of this Deed;
1.1.2 each of them shall with effect from termination of the Agreement under clause 1.1.1 stand released and discharged from all obligations arising under or resulting from the Subscription Agreement;
1.1.3 neither of them shall be entitled to exercise any rights or make any claim against the other in relation to the termination of the Subscription Agreement; and
1.1.4 such termination and cessation shall be without prejudice to any accrued rights and liabilities of the parties to the Subscription Agreement accrued prior to the date of such termination (including the right of either party to make a claim under the Subscription Agreement in respect of any antecedent breach).
1.2 Xxxxx and MRS xxxxxx agree that Atlas may transfer all Ordinary Shares held by it as a result of any shares and conversion of bonds issued pursuant to the Subscription Agreement to Zamaz Plc and European Investments Ltd (the"Investors"), in equal amounts, or companies that those two designate at such price as those parties may agree, as detailed below.
TERMINATION OF THE SUBSCRIPTION AGREEMENT. As at the date of this announcement and to the best information, knowledge and belief of the Directors, due to NPCC’s internal debt restructuring and possible changes in ownership and management control, NPCC would not be able to complete the Subscriptions and the Possible Offer. On 28 April 2018, the Company served a notice to NPCC and Noble indicating that the Subscription Agreement has been terminated (the “Notice”). At the material time, the Company is advised by its legal advisers that the only best option viable is to serve a termination notice to NPCC in the accordance with the terms of the Subscription Agreement to terminate the Subscription Agreement. The risks associated with the termination notice are set out in the paragraph “Risk Associated with the Termination Notice”. As disclosed in the announcement of the Company dated 30 November 2017, the Company as borrower and NPCC as lender entered into a loan agreement (the “HK$25M Loan Agreement”) in respect of a loan of HK$25,000,000 (the “HK$25M Loan”) at an interest rate of 8% per annum on 27 November 2017. As at the date of this announcement, a total of HK$25,000,000 has been drawn from the HK$25M Loan. The HK$25M Loan Agreement is still subsisting and the HK$25M Loan is required to be repaid on 27 May 2018. In addition, on 28 March 2018, the Company as borrower and Xx. Xx Xxxxxx (“Xx. Xx”) as lender entered into a loan agreement (the “HK$5M Loan Agreement”), pursuant to which Xx. Xx agreed to make available to the Company a loan of HK$5,000,000 (the “HK$5M Loan”) at an interest rate of 8% per annum for a term of three months from the date of drawdown. As at the date of this announcement, a total of approximately HK$2,000,000 has been drawn from the HK$5M Loan and no further drawdowns will be made. The HK$5M Loan Agreement is still subsisting and the amount drawn down from the HK$5M Loan is required to be repaid on 27 June 2018. The Board also wishes to inform its Shareholders that on 4 April 2018 (after trading hours), the Company as borrower and NPCC as lender entered into a further loan agreement (the “HK$30M Loan Agreement”), pursuant to which NPCC was to make available to the Company a loan of HK$30,000,000 at an interest rate of 8% per annum for a term of six months from the date of drawdown. However, no drawdown has been made under this HK$30M Loan Agreement. By the Notice, the Company also terminated the HK$30M Loan Agreement. At the material time, the Company is advised by its legal adv...
TERMINATION OF THE SUBSCRIPTION AGREEMENT. As of the Effective Date, the Subscription Agreement is hereby terminated subject to the tem1s and conditions of this Agreement. Each Party hereby waives and relinquishes any and all rights that such Party may have under the Subscription Agreement. The Subscription Agreement shall have no further force or effect from and after the Effective Date, and the rights of Subscriber with respect to the Shares shall terminate.
TERMINATION OF THE SUBSCRIPTION AGREEMENT. If the conditions specified in paragraph 5 hereof are not satisfied, or if the representations and warranties of The Subscriber contained herein are not true prior to the purchase of the Shares by the Subscriber, and written notice of that fact has been given to the Corporation, then and in any of such events this Subscription Agreement shall be null and void and of no further force, or effect, and neither party shall have any rights against the other party hereunder, this Subscription will be cancelled, and the payment of the subscriber will be returned to The Subscriber.
TERMINATION OF THE SUBSCRIPTION AGREEMENT. On 5 July 2024 (after trading hours), Big Wish Global, Big Wish Group Limited and the Target Company entered into an agreement to terminate the Subscription Agreement (the “Termination Agreement”). The Target Company and Big Wish Global agreed that each of them would not make any claims against each other for matters arising out of or in connection with the Subscription Agreement upon the termination of the Subscription Agreement (except for claims arising from any breach of the Subscription Agreement and the terms in relation to the termination of the Subscription Agreement as disclosed below). Pursuant to the Termination Agreement, the Target Company agreed to refund the MOU Deposit to Big Wish Group Limited within seven (7) Business Days from the date of the Termination Agreement and make the following payments to Big Wish Group Limited:
