股权并购协议英文版.docx
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股权并购协议英文版.docx
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股权并购协议英文版
EquityTransferAgreement
inrespectof
CO.,LTD.
between
CO.,LTD.
(“Transferor”)
and
LTD.
(“Transferee”)
Datedthisdayof2006
ThisAgreementismadethisdayof2006byandbetween:
Co.Ltd.,acompanyestablishedinthePeople’sRepublicofChinawhoseregisteredofficeislocatedat(hereinafterreferredtoas“Transferor”)
Ltd.,acompanyestablishedinHongKongwhoseregisteredofficeislocatedat(hereinafterreferredtoas“Transferee”)
Whereas:
1.CO.,LTD.(hereinafterreferredtoasthe“JointVenture”),aSino-foreignjointventureestablishedinthePeople’sRepublicofChinawhoseregisteredofficeislocatedat,whoseinvestorsarerespectively:
(A)TheTransferor,whoholds45%equityoftheJointVenture;and
(B)TheTransferee,whoholds55%equityoftheJointVenture.
2.TheTransferoragreestotransferitsequityinterestintheJointVenturetotheTransfereepursuanttotheprovisionsofthisAgreement.
ThetermsofthisAgreementareasfollows:
1.Interpretation
(A)Definitions
“Transferor’sequityinterestintheJointVenture”
referstotheTransferor’scapitalcontributiontotheJointVentureandalltherightsenjoyedbytheTransferorintheJointVentureinaccordancewithsuchcapitalcontribution.
“EquityTransferstipulatedinthisAgreement”
referstothetransferofequityinterestheldbytheTransferorintheJointVenturetotheTransfereepursuanttotheprovisionsofthisAgreement.
(B)Otherinterpretations
TheheadingsinthisAgreementareforeaseofreferenceonlyandshallnotaffecttheinterpretationofthecontentsofthisAgreement.
2.EquityTransfer
(A)TheTransferoragreestotransferallits【】%equityinterestintheJointVenturetotheTransfereeonthedatethatthisAgreementtakeseffect.
(B)TheTransfereeagreestotakethetransferoftheTransferor’s【】%equityinterestintheJointVenturepursuanttotheprovisionsofthisAgreementonthedatethatthisAgreementtakeseffect.
3.EquityPriceandPayment
(A)ThePartiesheretoagreethattheTransfereeshall,forthepriceofUnitedStatesDollars【】Only(US$【】million)(“TransferPrice”),receivetheTransferor’sequityinterestintheJointVenture,andsuchTransferPricealreadyincludesallthemonieswhichshallbepaidbytheTransfereetotheTransferorpursuanttotheequitytransferstipulatedinthisAgreement.
(B)ThetermsofpaymentoftheTransferPriceshallbeasfollows:
(1)20%oftheTransferPriceshallbepaidwithinfive(5)workingdaysfromthereceiptoftherespectiveresolutionsoftheBoardofDirectorsoftheTransferorandtheTransferee;
(2)70%oftheTransferPriceshallbepaidwithinfive(5)workingdaysfromthereceiptoftherelevantgovernmentapprovals(includingbutnotlimitedto(i)theapprovalsoftheBoardofDirectorsandshareholdersoftheTransferorand(ii)theexaminationandapprovaloftherelevantgovernmentoftheStateandBeijingMunicipality;
(3)theremainingbalanceofthe10%oftheTransferPriceshallbepaidwithinfive(5)workingdaysfromthedateofissueofTZM’snewbusinesslicenceforforeign-ownedenterprise.
4.DeliveryofEquity
ThePartiesheretoagreethatthehandoverdateofequityinterestshallbethedayafterthisAgreementhasbecomeeffective.Onthehandoverdate,theauthorisedrepresentativesofthePartiesshallcompletetheformalitiesforchangeofregistrationwiththeAdministrationforIndustryandCommerceinBeijingaccordingtolaw,andshallobtainthebusinesslicenseforwhollyforeign-ownedenterpriseswithin10daysafterthisAgreementhastakeneffect.
5.JointVentureContractandArticlesofAssociationoftheJointVenture
(A)AtthesametimeofsigningofthisAgreement,theTransferorandTransfereeshall,inrespectoftheequitytransferstipulatedinthisAgreement,jointlysigntheTerminationAgreementtoterminatetheJointVentureContractoftheJointVenture(seeAppendix1ofthisAgreement).
(B)Afterapprovalbytheoriginalexaminationandapprovalauthority,theArticlesofAssociationofthewhollyforeignownedenterprisesubmittedbytheTransfereeshallreplacetheArticlesofAssociationoftheJointVenture.
6.RepresentationsandWarrants
(A)TheTransferorrepresentsandwarrantsthat:
(1)TheTransferorisacompanyvalidlyexistingunderthelawsofthePeople’sRepublicofChinawhichenjoystheabsoluterightsandhasobtainedalltheauthorisationstoenterintoandperformthisAgreement.
(2)TheTransferorhasfullypaidupitsdueportionofthecapitalcontributiontotheJointVenturepursuanttotheprovisionsoftheJointVentureContractoftheJointVenture.
(3)TheTransferorhasthecomplete,independent,andlegitimaterightofdisposalofitsequityinterestintheJointVenturepriortothetakingeffectofthisAgreement;anditsequityinterestintheJointVentureisfreeofanylegaldefectsorrestrictionspriortothetakingeffectofthisAgreement.
(4)TheTransferorhasalreadyobtainedthefollowingapprovalsandconsentspriortothesigningofthisAgreement:
(i)TheBoardofDirectorsoftheTransferorhasapprovedtheequitytransferstipulatedinthisAgreement,andtheTransferorhasobtainedsuchresolutionoftheBoardofDirectors.
(ii)TheBoardofDirectorsoftheJointVenturehasapprovedtheequitytransferstipulatedinthisAgreement,andtheTransferorhasobtainedsuchresolutionoftheBoardofDirectors.
(5)AnywrittendocumentorinformationsubmittedbytheTransferorhereunderistrue,complete,legal,andvalid.
(6)TheTransferorisnotawareofanyfactwhichisdetrimentaltotheequitytransferstipulatedinthisAgreementbutwhichhasnotbeendisclosedtotheTransferee.
(B)TheTransfereerepresentsandwarrantsthat:
(1)TheTransfereeisacompanyvalidlyexistingunderthelawsofSingaporewhichenjoystheabsoluterightsandhasobtainedalltheauthorisationstoenterintoandperformthisAgreement.
(2)AnywrittendocumentorinformationsubmittedbytheTransfereehereunderistrue,complete,legal,andvalid.
(3)TheTransfereehasalreadyobtainedthefollowingapprovalsandconsentspriortothesigningofthisAgreement:
(i)TheBoardofDirectorsoftheTransfereehasapprovedtheequitytransferstipulatedinthisAgreement,andtheTransfereehasobtainedsuchresolutionoftheBoardofDirectors.
(ii)TheBoardofDirectorsoftheJointVenturehasapprovedtheequitytransferstipulatedinthisAgreement,andtheTransfereehasobtainedsuchresolutionoftheBoardofDirectors.
TheaforesaidrepresentationsandwarrantsshallremainfullybindingandvalidafterthesigningofthisAgreement.
7.ObligationsoftheParties
(A)ObligationsoftheTransferor:
(1)TheTransferoragreestowrite-offtherentreceivableowedbyTZMuptotheendofFebruary2004totallingRMB698,765;
(2)TheTransferoragreestowaivetherentpayablebyTZMfortheperiodfromMarch2004to15thAugust2004asstipulatedintheexistingtenancyagreement.Therefore,theTransferorwillnotissuethequarterlyinvoiceforrentpayableduringthesaidperiodtoTZM;
(3)TheTransferoragreestodelivertheequipment(seethelistsinAppendix2fordetails)toTZMfortheconsiderationofUS$1.00;and
(4)TheTransferoragreestouseitsbestendeavourandtakeallnecessaryactionstoensurethatTZMischangedfromaSino-foreignjointventuretoawholly-ownedenterprise,includingbutnotlimitedto:
(a)signingrelevantdocumentssuchastheEquityTransferAgreement,TerminationAgreement,andBoardofDirectorsResolutions,andsubmitthesametotheexaminationandapprovalauthorityforapproval;(b)procuringthatTZMshallobtainthebusinesslicenseforwholly-ownedenterprise.
(5)TheTransferorshallpromptlyinformtheTransfereeofanymatterdetrimentaltothetakingeffectofthisAgreementwhichhasoccurredormayoccurandwhichtheTransferorhasbecomeawareofduringhishandlingandpriortothecompletionofthelegalproceduresstipulatedintheforegoingclause.
(B)ObligationoftheTransferee:
toensurethatTZMshallsurrenderthePTVproductionlineandauxiliaryequipment(seethelistsinAppendix3fordetails)intheTZMfactorytotheTransferor.
(C)ThePartiesshallpromptlyprovideanydocumentorinformationwhichisrequiredforhandlingandcompletingthelegalprocedureswhichrenderthisAgreementeffectiveunlesssuchdocumentsorinformationarenotobtainablebasedontheobjectivejudgementoftheParties.
(D)NeitherofthePartiesheretoshallhinderorpassivelytreatthehandlingandcompletionofthelegalproceduresforthetakingeffectofthisAgreement.
8.Default
(A)Intheeventofanyofthefollowing:
(1)non-payment:
iftheTransfereeisunabletomakefullpaymentaccordingtothedeadlinestipulatedinclause3(B)hereof;
(2)violationofobligation:
eitherPartyheretoisinviolationoftheobligationstipulatedinClause7hereof;
(3)violationofrepresentationsandwarrants:
eitherPartyheretoisinviolationoftherepresentationsandwarrantsstipulatedinClause6hereof;
(4)terminationofcontract:
eitherPartyheretoarbitrarilyterminatesthisContractwithoutobtainingtheotherparty’swrittenconfirmationorconsent;
(5)violationofotherbusinesses:
eitherPartyheretoisinviolationofotherclausesofthisAgreementandfailstocorrectthesamewithin10daysaftertheotherpartyhasgivenawrittennotice.
thenthedefaultingpartyshallfullycompensatethenon-defaultingpartyforalllossesarisingfromitsdefault,includingbutnotlimitedtoalltheexpensesandcostsincurredbythenon-defaultingpartyforarrangingforthe
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