Second Vendor definition
Examples of Second Vendor in a sentence
The First Vendor and the Second Vendor (collectively Promoter No.1) are the absolute and lawful owners of the property shown in RED border on Plan – “A” annexed hereto and more fully described in Part I and Part II respectively of the FIRST SCHEDULE hereto (the “SAID LAND”) as per the devolution of title of the Said Land more fully described in the SECOND SCHEDULE hereto.
The Second Vendor is a company established in the PRC with limited liability.
As at the date of this announcement, the entire equity interest in the Project Company was held directly as to 99% by the Hong Kong Company and 1% by the Second Vendor.
Pursuant to the Sale and Purchase Agreement II, the Group will acquire from the Second Vendor its 1% equity interest in the Project Company.
Subject to the terms and conditions of the 35MW Equipment Purchase Agreement, Suining Wind Power has agreed to purchase and the Second Vendor has agreed to sell the 35MW Equipment.
To the best of the Directors’ knowledge, information and belief having made all reasonable enquiries, the Second Vendor and its ultimate beneficial owners are third parties independent of the Company and its connected persons.
Under the 35MW Equipment Purchase Agreement, there is a warranty period of eight years in total for the main bearing, a major component of the 35MW Equipment, during which the Second Vendor warrants that such main bearing will be able to meet the technical standard and performance level as set out in the 35MW Equipment Purchase Agreement, and failing which the Second Vendor will be responsible to promptly repair and fix any defect at its own costs.
Service upon the process agent shall be good service upon the Second Vendor whether or not it is forwarded to and received by the Second Vendor.
The Second Vendor is a company established in the PRC and is the 40% registered owner of the equity interest in the Project Company.
Further to the Announcement regarding, among other things, the entering into of the Acquisition Agreement, the Board announces that after trading hours on 24 October 2008, Sourcestar Profits (as purchaser), a direct wholly-owned subsidiary of the Company, and the Company (as warrantor of Sourcestar Profits) entered into a supplemental agreement (the “Supplemental Agreement”) with the First Vendor, the Second Vendor and the Warrantors to amend certain terms and conditions of the Acquisition Agreement.