Existing Equipment, Existing Building and Production Site Clause Samples

Existing Equipment, Existing Building and Production Site. 11.1 BRILLIANCE shall cause JinBei to transfer possession of the Assets to the JV Company within ten (10) days from the date that each shall make its respective contribution to the registered capital of the JV Company in accordance with Article 5.4. BRILLIANCE shall cause JinBei to take all actions necessary to carry out registration and all other procedures that may be required by applicable PRC Laws or the relevant PRC government authorities in respect of the transfer of the ownership of the Existing Buildings to the JV Company pursuant to the Building Purchase Agreement and in respect of the transfer of ownership of the Existing Equipment to the JV Company pursuant to the Equipment Purchase Agreement. 11.2 The JV Company shall enter into the Land Use Rights Lease Contract with the relevant government authority in Shenyang for the lease of the land use lease rights for the Site. The term of the land use rights for the Site acquired by the JV Company under the Land Use Rights Lease Contract shall be at least fifteen (15) years commencing on the date on which the relevant government authority issues the State-owned Land Use Certificate for the Site in the name of the JV Company. 11.3 BRILLIANCE shall ensure that JinBei be responsible for the payment of all outgoings, taxes and fees in connection with the Site and the Existing Buildings incurred prior to the date of the transfer of the Assets to the JV Company. Except for the following tax CHINA EQUITY JOINT VENTURE CONTRACT and fee which will be paid by the JV Company, BRILLIANCE further shall ensure that JinBei be responsible for the payment of any other outgoings, taxes and fees which may be imposed by the relevant government authorities in connection with the transfer of the ownership of the Existing Buildings from JinBei to the JV Company: (i) a deed tax and stamp duty imposed on the JV Company; and (ii) a registration handling charge and other miscellaneous fees.
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