Entrusted Companies definition
Examples of Entrusted Companies in a sentence
The Entrusting Parties shall seek in advance the opinion of the Managing Party whether to exercise the right of first refusal in writing when transferring or selling the equity interest or assets of the Entrusted Companies.
Pursuant to the Entrusted Management Framework Agreement, Changchun Heating Group agrees to entrust the Company with the right to operate and manage the heat supply business of the Entrusted Companies during the Entrusted Management Period whereby the Company shall provide management services in relation to the heat supply business of such Entrusted Companies covering procurement, production, sales, finance, business operations, human resources management and other business decisions, etc.
The Company believes that the Entrusted Management Framework Agreement will be beneficial to the Company in various aspects including the following: • It allows the Company to extend greater management capabilities and to achieve greater management synergy through the management of the Entrusted Companies.
INFORMATION ABOUT THE ENTRUSTED COMPANIES The Entrusted Companies comprise 14 companies established in the PRC which principally engage in property management businesses, located in Beijing, Tianjin, Dalian, Changsha, Guangzhou, Shenzhen, Dongguan, Huizhou, Shantou and Foshan.
During the term of the Entrusted Management Framework Agreement, the operational costs and expenses, funding needs, income and gains, profit or loss, business risks, debts and legal liabilities of the Entrusted Companies shall be solely enjoyed or borne by the Entrusting Parties and/or the Entrusted Companies.
Any use of the Licensed Trademarks in a manner not consistent with the Trademark Use Guidelines shall be subject to the prior written approval of UCH, which approval may be granted, withheld or conditioned by UCH in its reasonable discretion.
On the other hand, it is the intention that the Group will exercise its right under the Non-competition Agreement to acquire the businesses of the Entrusted Companies when the transfer of such assets to the Entrusted Companies is completed.
Through the entrusted management, the Company can better understand the asset quality, financial status and profitability of the Entrusted Companies, that the Company considers it will have an important strategic significance for its future business development.
As negotiated, the Company also got the priority to acquire the Entrusted Companies.
Where necessary, each of the Entrusted Companies may, pursuant to the principles of the Entrusted Management Agreement, enter into specific agreements with designated subsidiaries of the Company in respect of the management of the Entrusted Companies.