New Factory definition
Examples of New Factory in a sentence
LD Tobacco is the current tenant under the New Factory Land Lease.
Notwithstanding the provisions of this Section 2.12(a)(vi), Seller acknowledges that asbestos has been used in one or more buildings of the Old Factory and has or may have been used in one or more buildings of the New Factory and agrees to be liable for damages relating to such asbestos as specified in Section 4.10(b) of this Agreement.
Accordingly, the entering into each of the New Factory Lease Agreement and the New Warehouse Lease Agreement by Prosperous (SZ) will be regarded as an acquisition of a capital asset for the purposes of the GEM Listing Rules.
The term of this Agreement shall commence as of its signing and shall last for a period of three (3) years from the date of normal commercial production at the New Factory and during the Transition Period.
All expenses associated with this transfer shall be borne by Seller including, without limitation, expenses involved in detaching the assets from the Old Site and delivering the assets to the new site, provided however, that expenses for cleaning and painting the equipment, tooling, dies and jigs to be moved to the New Factory shall be shared equally by the Parties.
Buyer agrees that it will be liable for any claim from third parties arising from the presence or removal of asbestos from those portions of the New Factory that Seller is not obligated, pursuant to this Article 4.10, to tear down.
Brooke (Overseas) shall arrange a loan from a Russian bank on terms that shall not differ materially from those set forth on Schedule 6 (the "Russian Bank Loan") for construction of the New Factory in the principal amount of $20,000,000, to be secured by the shares and assets of Ligg▇▇▇-▇▇▇▇▇ ▇▇▇ LD Tobacco, no later than July 1, 1998, it being agreed that neither Western Realty Development LLC nor Western Realty Investments LLC shall be the primary obligor under the Russian Bank Loan.
The gross floor area under the New Factory Lease Agreement and Old Factory Lease Agreement are the same.
Buyer will, however, purchase from Seller the factory located at 40-1 ▇▇▇▇▇▇-▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇vince (the "New Factory").
Since the New Factory Lease Agreement and the New Warehouse Lease Agreement will be entered into by the Group with the same Lessor, at the same time, and both the premises belong to the Registered Owner, the transactions under these New Lease Agreements shall be aggregated.