Termination by the Provider. The Provider may terminate this Agreement with respect to either all or any one or more of the Services, at any time and from time to time, by giving the required written notice to the Recipient of such termination, if (a)members of the AMTD Group no longer collectively own at least twenty percent (20%) of the voting power of the then outstanding securities of AMTD Digital, or (b) AMTD Parent, collectively with the other members of the AMTD Group, ceases to be the largest beneficial owner of the then outstanding voting securities of AMTD Digital (for purposes of this clause (b), without considering holdings of institutional investors that have acquired AMTD Digital securities in the ordinary course of their business and not with a purpose nor with the effect of changing or influencing the control of AMTD Digital). Additionally, the Provider may terminate this Agreement by giving written notice of such termination to the Recipient, if the Recipient breaches any material provision of this Agreement (including a failure to timely pay an invoiced amount); provided, however, that the Recipient will have thirty (30) days after receiving such written notice to cure any breach which is curable before the termination becomes effective.
Appears in 1 contract
Sources: Transitional Services Agreement (AMTD Digital Inc.)
Termination by the Provider. The Provider may terminate this Agreement with respect to either all or any one or more of the Services, at any time and from time to time, by giving the required written notice to the Recipient of such termination, if (a)members a) members of the AMTD Group no longer collectively own at least twenty percent (20%) of the voting power of the then outstanding securities of AMTD DigitalInternational, or (b) AMTD Parent, collectively with the other members of the AMTD Group, ceases to be the largest beneficial owner of the then outstanding voting securities of AMTD Digital International (for purposes of this clause (b), without considering holdings of institutional investors that have acquired AMTD Digital International securities in the ordinary course of their business and not with a purpose nor with the effect of changing or influencing the control of AMTD DigitalInternational). Additionally, the Provider may terminate this Agreement by giving written notice of such termination to the Recipient, if the Recipient breaches any material provision of this Agreement (including a failure to timely pay an invoiced amount); provided, however, that the Recipient will have thirty (30) days after receiving such written notice to cure any breach which is curable before the termination becomes effective.
Appears in 1 contract
Sources: Transitional Services Agreement (AMTD International Inc.)
Termination by the Provider. The Provider may terminate this Agreement with respect to either all or any one or more of the Services, at any time and from time to time, by giving the required written notice to the Recipient of such termination, if (a)members i) members of the AMTD Renren Group no longer collectively own control at least twenty percent (20%) of the voting power of the then outstanding securities of AMTD DigitalCM Seven Star, or (bii) AMTD ParentRenren, collectively with the other members of the AMTD Renren Group, ceases to be the largest beneficial owner of the then outstanding voting securities of AMTD Digital CM Seven Star (for purposes of this clause (bii), without considering holdings of institutional investors that have acquired AMTD Digital CM Seven Star securities in the ordinary course of their business and not with a purpose nor with the effect of changing or influencing the control of AMTD DigitalCM Seven Star). Additionally, the Provider may terminate this Agreement by giving written notice of such termination to the Recipient, if the Recipient breaches any material provision of this Agreement (including a failure to timely pay an invoiced amount); provided, however, that the Recipient will have thirty (30) days after receiving such written notice to cure any breach which is curable before the termination becomes effective.
Appears in 1 contract
Sources: Transitional Services Agreement (Kaixin Auto Holdings)