Examples of TM Licence Agreement in a sentence
Inmarsat Limited and the Company (the “Parties) entered into the TM Licence Agreement.
In view of the similar nature of the respective transactions under the TM Licence Agreement and the Existing Licence Agreement, and that the Premises under the TM License Agreement and the Existing Premises under the Existing License Agreement are both within the AEON Stores’ XX Xxxxxx for the same use as a branch of the Company, such transactions shall be aggregated for transaction classification purposes pursuant to Chapter 14A of the Listing Rules.
Outgoings under the 2024 TM Licence Agreement will be recognised as expenses in the profit and loss accounts of the Company in the respective financial periods in which they are incurred.
As the Group elects to recognise each of the lease of the Premises under the TM Licence Agreement and the lease of the Existing Premises under the Existing Licence Agreement as a one-off acquisition of a right-of-use asset under HKFRS 16, they together constitute a connected transaction for the Company under Chapter 14A of the Listing Rules.
As the Group elects to recognise the lease of the Premises under the 2024 TM Licence Agreement as a one-off acquisition of a right-of-use asset under HKFRS 16, the lease of the Premises under the 2024 TM Licence Agreement constitutes a connected transaction for the Company under Chapter 14A of the Listing Rules.
On and with effect from the Effective Date, the Seller grants to the Buyer a licence (except to the extent that a sub-licence to distributors and sales representatives is needed in connection with the sale and distribution of the Products) to use the Tornier Trademark for the purposes of the sale of the Products and the Stock in accordance with the terms of the TM Licence Agreement.
Given that none of the applicable percentage ratios in relation to the Annual Caps exceed 0.1%, the continuing connected transaction with respect to payment of Outgoings under the 2024 TM Licence Agreement constitutes a de minimis transaction of the Company and is exempt from reporting, announcement, annual review (as applicable) and independent shareholders’ approval requirements.
The Directors, including the independent non-executive Directors, consider that the 2024 TM Licence Agreement is entered into in the ordinary and usual course of business of the Company, the terms of the 2024 TM Licence Agreement are on normal commercial terms, and both the terms of the 2024 TM Licence Agreement and the Annual Caps are fair and reasonable and in the interests of the Company and its shareholders as a whole.
As one or more of the applicable percentage ratios in respect of the right to use the Premises under the 2024 TM Licence Agreement exceed 0.1% but are less than 5%, the 2024 TM Licence Agreement is subject to the reporting and announcement requirements, but exempt from the independent shareholders’ approval requirements under Chapter 14A of the Listing Rules.
The Company considers it beneficial to enter into the TM Licence Agreement for a larger premises to facilitate a more effectual provision of consumer credit finance services and insurance-related advisory services to the customers of both the Company and AEON Stores, as well as to maintain a close business relationship and collaboration with AEON Stores.