AM Services definition
Examples of AM Services in a sentence
Notwithstanding the foregoing, Mesa shall not be released, discharged, or relieved from any duties, liabilities or obligations set forth in this Agreement, including those arising from the AM Services performed by AM.
Mesa has delivered to AWA an assumption agreement pursuant to which AM agrees to perform all the duties and obligations of Mesa under this Agreement relating to the AM Services and to be bound by all of the liabilities, obligations, and duties of Mesa under this Agreement applicable to the AM Services, including, without limitation, the providing of flights, maintenance of aircraft, compliance with laws, maintenance of insurance and indemnification of AWA (the “Assumption Agreement”).
AM shall be deemed a subcontractor of Mesa, and Mesa shall cause AM’s performance of the AM Services to comply with all relevant terms and conditions of this Agreement.
AM, a wholly owned subsidiary of MAG, is executing this agreement to confirm and acknowledge its assumption of and agreement to perform as a subcontract of Mesa the AM Services as provided in and in accordance with Section 2.1 of the Code Share Agreement.
AM confirms and acknowledges that for all AM Services previously provided by AM pursuant to the Code Share Agreement, AM assumed and agreed to be bound by all of the liabilities, obligations, and duties of Mesa applicable to the AM Services.
All references to AM Services in this Section 3.5 shall mean the Non-Discretionary AM Services only.
Details of the payment and pricing terms of the Listco AM Services will be specified in the individual service contract and will be negotiated on an arm’s length basis between the Group and the relevant AM Clients and on terms no less favourable to the Group than those offered to and from Independent Third Parties.
The management fees and advisory fees shall generally be settled by the AM Clients indirectly through their attributable assets managed under the Listco AM Services periodically (such as per quarter, semi-annual or per annum).
With reference to the management fees and the advisory fees for the nine months ended 30 September 2021 (which amounts to approximately HK$ 81.67 million), it is estimated that for the year ending 31 December 2021, the management fees and advisory fees from the Listco AM Services will be approximately HK$107.7 million which is approximately 86.8% of the annual cap for the year ending 31 December 2021.
As of the Effective Date, there are no service levels other than as set forth in Exhibit B-3 (AM Services Statement of Work).