Examples of New Lease Agreements in a sentence
The form of the New Lease Agreements shall have been agreed upon by the parties thereto, and the New Lease Agreements shall have been executed and delivered by all such parties.
The Directors anticipated that the highest applicable percentage ratio in respect of the aggregate amount of rentals, (if applicable) the car parking fees and (if applicable) the property management fees payable under the New Lease Agreements, the Relevant Lease Agreements and the Other Lease Agreements calculated on an aggregate and annual basis with reference to the annual caps available represent more than 5%.
The terms of the New Lease Agreements are arrived at after arm’s length negotiations between the Group and Shanghai SEEC with reference to the market rents of similar properties in the Chaoyang District, Beijing, the PRC.
In response to the growing demand for logistics services, the Directors of the Company believe that the leasing of the land and properties as stipulated in the New Lease Agreements are beneficial to the Group and assists in maintaining the Group’s sustainable growth.
Save for the aforesaid, the Group has not entered into any prior transaction with GEICO and/or any of its connected persons that is required to be aggregated with any of the New Lease Agreements and the Relevant Lease Agreements.