Form of Cooperation. 1. Party A and Party B shall operate a retail business targeting tour groups. 2. Party A shall locate its operations at the above address, with a term beginning on 9/30/2004 through 9/27/2007. Party A shall pay a license fee to Party B of [***] per month, with a management fee of [***] per month, and a one-time deposit of HK $779,772. 3. License fees shall be waived for the first three (3) months until 12/29/2004. The management fee shall apply starting from 10/15/2004. 4. Party A shall have the option to extend the term of this Agreement for two more years until 9/29/2009, and upon renewal the monthly license fee shall be not less than [***] and not more than [***] per month [with the actual rent to be mutually determined by the Parties]. 5. Party A and Party B shall use and maintain their own trade or service marks. Without Party B’s consent, Party A shall not use “▇▇▇▇▇ ▇▇▇ (Chinese pronunciation) Duty Free Store” and “Bonjour Duty Free” as names of its other business locations. 6. Party A shall sell video, audio, home electronics, watches, clocks, glasses, medicine, health products and other related products. Party B may not sell the same products. 7. Party B shall sell cosmetics, skin care products, perfume, weight loss products, breast enhancement products, baby food and other related products. Party A may not sell the same products. 8. Party A and Party B acknowledge and agree that Party A shall permit a third party business selling vitamin E and related products to operate within Party A’s occupied space. Except for the above, Party A and Party B agree not to sublease any portion of their respective occupied space without the prior written consent of the other party. CONFIDENTIAL TREATMENT REQUESTED BY ASIAMART, INC. 9. Party A agrees to transfer any agreement with the Vitamin E vendor to Party B. The Vitamin E vendor shall operate within space allotted to Party B. Revenue from such vendor shall be collected by Party B, and all resulting profit shall belong to Party B. 10. Party A and Party B shall occupy space according to the Addendum. Party A shall initially be allotted 70% and Party B 30%, of the total space.
Appears in 1 contract
Form of Cooperation. 1. Party A and Party B shall operate a retail business targeting tour groups.
2. Party A shall locate its operations at the above address, with a term beginning on 9/30/2004 through 9/27/2007. Party A shall pay a license fee to Party B of [***] per month, with a management fee of [***] per month, and a one-time deposit of HK $779,772.
3. License fees shall be waived for the first three (3) months until 12/29/2004. The management fee shall apply starting from 10/15/2004.
4. Party A shall have the option to extend the term of this Agreement for two more years until 9/29/2009, and upon renewal the monthly license fee shall be not less than [***] and not more than [***] per month [with the actual rent to be mutually determined by the Parties].
5. Party A and Party B shall use and maintain their own trade or service marks. Without Party B’s consent, Party A shall not use “▇▇▇▇▇ ▇▇▇ (Chinese pronunciation) Duty Free Store” and “Bonjour Duty Free” as names of its other business locations.
6. Party A shall sell video, audio, home electronics, watches, clocks, glasses, medicine, health products and other related products. Party B may not sell the same products.
7. Party B shall sell cosmetics, skin care products, perfume, weight loss products, breast enhancement products, baby food and other related products. Party A may not sell the same products.
8. Party A and Party B acknowledge and agree that Party A shall permit a third party business selling vitamin E and related products to operate within Party A’s occupied space. Except for the above, Party A and Party B agree not to sublease any portion of their respective occupied space without the prior written consent of the other party. CONFIDENTIAL TREATMENT REQUESTED BY ASIAMART, INC.
9. Party A agrees to transfer any agreement with the Vitamin E vendor to Party B. The Vitamin E vendor shall operate within space allotted to Party B. Revenue from such vendor shall be collected by Party B, and all resulting profit shall belong to Party B.
10. Party A and Party B shall occupy space according to the Addendum. Party A shall initially be allotted 70% and Party B 30%, of the total space.
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