Examples of Lease Transactions in a sentence
On an aggregated basis, one or more of the applicable percentage ratios in respect of respective estimated value of right-of-use assets of the October 2020 Non-continuing Lease Transactions exceeds 0.1% but all the applicable percentage ratios are less than 5%.
Having considered the above factors, the basis of determination of the rental payable under the Lease Agreement and the view of the Independent Financial Adviser as set out in this announcement, the Board (including the independent non-executive Directors) considers that the Lease Agreement and the transactions contemplated thereunder are fair and reasonable; and the Lease Transactions are in the ordinary and usual course of business of the Group.
RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: (Space above this line for Recorder’s Use) [SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT] OR [SUBORDINATION AGREEMENT] (For Master Lease Transactions) NOTICE: THE SUBORDINATION PROVIDED FOR IN THIS AGREEMENT RESULTS IN YOUR LEASEHOLD ESTATE BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE INTEREST CREATED BY SOME OTHER OR LATER INSTRUMENT.
As such, the Lease Transactions constitute continuing connected transactions of the Company under Chapter 14A of the Listing Rules.
The Aircraft will be leased by Guangzhou Yunde to Chongqing Airlines with rental fee payable as RMB687,000 per aircraft per month for a term of 3 months, which constitute part of the Operating Lease Transactions under the 2018-2019 Finance and Lease Service Framework Agreement.
Pursuant to Chapter 14A of the Listing Rules, as the transactions contemplated under the October 2020 Office Building Lease Agreement and 2020 Non-continuing Lease Transactions (collectively, the ‘‘October 2020 Non-continuing Lease Transactions’’) are of similar nature, the October 2020 Non-continuing Lease Transactions will be aggregated and treated as if they were one transaction.
As such, the October 2020 Non-continuing Lease Transactions are subject to the reporting and announcement requirements but are exempt from circular (including independent financial advice) and Shareholders’ approval requirements under Chapter 14A of the Listing Rules.
Since the highest applicable percentage ratio for the Annual Caps is more than 0.1% but less than 5%, the Lease Transactions are subject to the reporting, annual review and announcement requirements but are exempt from the independent shareholders’ approval requirement under Chapter 14A of the Listing Rules.
Therefore, the Aircraft Finance Lease Transactions and the proposed Maximum Transaction Amounts are subject to: (i) the disclosure, annual review and Independent Shareholders’ approval requirements under Chapter 14A of the Hong Kong Listing Rules; and (ii) the requirements applicable to discloseable transactions under Chapter 14 of the Hong Kong Listing Rules.
The Board (including the independent non-executive Directors) considers that: (i) the terms of the Framework Lease Agreement are fair and reasonable and on normal commercial terms; (ii) the Lease Transactions are in the ordinary and usual course of business of the Group; (iii) the entering into of the Framework Lease Agreement by GCCD is in the interest of the Company and its shareholders as a whole; and (iv) the Annual Caps (including the basis of determination thereof) are fair and reasonable.