Common use of THE TERMINATION Clause in Contracts

THE TERMINATION. On 15 February 2018 (after trading hours), the Vendor (a wholly-owned subsidiary of the Company) and the Purchaser entered into the Termination Agreement and mutually agreed to terminate the Agreement. Upon the signing of the Termination Agreement, the Vendor would pay an amount of HK$10,400,000 (being the aggregate amount of (i) the payment of the amount of HK$5,200,000, being the refundable deposit as referred in the Agreement, and (ii) a compensation fee of HK$5,200,000 (the “Compensation”)) to the Purchaser pursuant to the terms of the Termination Agreement. The Compensation refers to costs incurred by the Purchaser in relation to the negotiation of the Agreement and the performance of their obligations thereunder. Upon the signing of the Termination Agreement, none of the parties to the Agreement has any liability towards the other parties under the Agreement.