Document:

Exhibit
10.20

 

Dated the 22nd  day of December 2003

 

JUGADA COMPANY LIMITED

(as Landlord)

 

 

AND

 

 

VALENCE TECHNOLOGY LIMITED

(as Tenant)

 

 

 

TENANCY AGREEMENT

 

of

 

Workshop
No.01-07 on the 20th Floor of APEC Plaza, No.49 Hoi Yuen Road, Kwun Tong,
Kowloon, Hong Kong

 

Term:                  A term of Three (3) years from 16th
November 2003 to 15th November 2006

 

Rental:           HK$43,433.00
per month exclusive of rates, management fee and central chilled water charges

 

Deposit:   HK$191,439.30

 

 

 

JOHNSON STOKES & MASTER,

 

SOLICITORS, & C., 

 

HONG KONG SAR.

 

MSY/CH/6560682/sy

pc/ifd46793.w
(300703)

 

 

SECTION I

 

AGREEMENT

 

	
  Parties

  	
   

  	
  AN
  AGREEMENT made this 22nd day of December Two Thousand and Three 

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BETWEEN
  (i) the Company detailed as the Landlord in Part I of the Schedule hereto
  (hereinafter called “the Landlord” which expression shall include its
  successors and assigns) of the one part and (ii) the person firm or company
  detailed as the Tenant in Part I of the Schedule hereto (hereinafter
  called “the Tenant” which expression shall include its successors and
  permitted assigns) of the other part.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  WHEREBY
  IT IS AGREED as follows :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  1.

  	
   

  	
   

  	
   

  	
  Agreement
  :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Premises

  	
   

  	
  1.01

  	
   

  	
   

  	
   

  	
  The
  Landlord shall let and the Tenant shall take ALL THOSE the premises
  (hereinafter referred to as “the Premises”) forming part of the building now
  known as APEC Plaza, No.49 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong
  (hereinafter referred to as “the Building”) erected on All That piece or
  parcel of land registered in the Land Registry as Kwun Tong Inland Lot No.731
  which said Premises are more particularly described and set out in Part II of
  the Schedule attached hereto Together with the use in common with the
  Landlord and all others having the like right of the entrances staircases
  landings passages and public toilets in the Building in so far as the same
  are necessary for the proper use and enjoyment of the Premises and except in
  so far as the Landlord may from time to time restrict such use And together
  with the use in common as aforesaid of the escalators and air cooling
  services in the Building (if any and whenever the same shall be operating)
  for the term set forth in Part III of the Schedule hereto (hereinafter
  “the Term”) YIELDING AND PAYING

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Term
  Rent and other Charges

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

[SEAL]

 

1

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  therefor throughout the
  Term such rent and other charges as are from time to time payable or
  ascertainable in accordance with the provisions set out in Part IV and Part
  -V- of the Schedule hereto and in this Agreement (all of which payments
  are unless the context otherwise requires or provides hereinafter included in
  the term “the Rent”) which sums shall be payable exclusive of rates and other
  outgoings and in advance clear of all deductions on the first day of each
  calendar month the first and last of such payments to be apportioned
  according to the number of days in the month included in the Term.  The Tenant agrees to use the Premises only
  for the purpose set forth in Part VII of the Schedule hereto and not for
  any other purpose and in the event that the user of the Premises designated
  in Part VII of the Schedule hereto shall specify the sale or supply
  thereat of any particular class or kind of goods or services the Tenant shall
  not use the Premises for the sale or provision of any other class or kind of
  goods services or other purpose whatsoever without the express permission of
  the Landlord in writing.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  User

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION II

  

  RENT AND OTHER CHARGES

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  2.

  	
   

  	
   

  	
   

  	
  The
  Tenant agrees with the Landlord as follows :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Rent

  	
   

  	
  2.01

  	
   

  	
   

  	
   

  	
  To
  pay throughout the Term on the days and in the manner hereinbefore provided
  for payment thereof and in banknotes if so required by the Landlord such
  calendar monthly rent as is payable in accordance with the provisions of Part
  IV of the Schedule hereto;

  

 

2

 

	
  Management
  fee and central chilled water charges

  	
   

  	
  2.02

  	
   

  	
   

  	
   

  	
  To
  pay on the days and in the manner hereinbefore provided the management fee
  and central chilled water charges as respectively set forth, in Part V of the
  Schedule for the provision of management services for the Premises and
  for the supply of chilled water for use by the Tenant in connection with its
  air-conditioning installation Provided always that the rate of the said management
  fee and central chilled water charges shall be subject to review by the
  Manager of the Building in accordance with the provisions in the Deed of
  Mutual Covenant and Management Agreement relating to the Building.  The Manager’s determination of the new
  rate of the said management fee and central chilled water charges shall (save
  in the case of manifest error) be conclusive.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  All
  running, operating, maintenance, cleaning and repair costs associated with
  the use of fan coil units or other air handling plant installed at the
  Premises will be borne by the Tenant in addition to the management fee and
  central chilled water charges.  The
  electric power for such fan coil units or other air handling plant installed
  within or exclusively for the Premises shall be connected to the Tenant’s
  electricity supply meter and the Tenant shall pay direct to the supply
  authority or contractor for the electric power thereby consumed.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Rates

  	
   

  	
  2.03

  	
   

  	
   

  	
   

  	
  To
  pay and discharge all rates taxes assessments duties impositions charges and
  outgoings of an annual or recurring nature now or hereafter to be imposed or
  levied on the Premises or upon the owner or occupier in respect thereof by
  the Government of the Hong Kong Special Administrative Region of the People’s
  Republic of China or other lawful authority (Government Rent and Property Tax
  alone excepted).  Without prejudice to
  the generality of this clause the

  

 

3

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Tenant
  shall within 15 days from the date of receiving a demand in writing for the
  same either from the Landlord or from the Government of the Hong Kong Special
  Administrative Region of the People’s Republic of China pay all rates imposed
  on the Premises in the first place to the Landlord who shall settle the same
  with the Government of the Hong Kong Special Administrative Region of the
  People’s Republic of China.  In the
  event of the rates imposed not being individually assessed in respect of the
  Premises, the Tenant shall pay a part thereof in the same proportion as the
  gross floor area of the Premises bears to the gross floor area of the
  Building or part thereof so assessed, and in the event of the Premises not
  yet having been assessed to rates, the Tenant shall on the signing hereof and
  before it shall be entitled to possession of the Premises at the commencement
  of the Term and thereafter on each of the usual quarter days until the rates
  have been so assessed pay to the Landlord on account of the Tenant’s
  liability under this Clause a sum equal to the rates for that quarter (or a
  proportionate part thereof) which would be charged by the Government of the
  Hong Kong Special Administrative Region of the People’s Republic of China on
  the basis of a rateable value equal to twelve months’ rent payable by the
  Tenant (such estimated rates to be paid on monthly basis in advance);
  Provided that upon assessment by the Government of the Hong Kong Special
  Administrative Region of the People’s Republic of China of the rates payable
  in respect of the Premises, the total amount paid by the Tenant to the
  Landlord shall be adjusted accordingly and any surplus shall be refunded by
  the Landlord and any deficiency shall be made good by the Tenant.

  

 

4

 

	
  Utility
  Charges & Deposits

  	
   

  	
  2.04

  	
   

  	
   

  	
   

  	
  To
  pay and discharge all deposits and charges in respect of gas water
  electricity air-conditioning and telephone as may be shown by or operated
  from the Tenants own metered supply or by accounts rendered to the Tenant in
  respect of all such utilities consumed on or in the Premises.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION III

  

  TENANT’S OBLIGATIONS

  
	
   

  
	
   

  	
   

  	
  3.                                                                                              The Tenant hereby covenants undertakes and
  agrees with the Landlord as follows :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Compliance
  with Ordinances

  	
   

  	
  3.01

  	
   

  	
   

  	
   

  	
  To
  obey observe and comply with and to indemnify the Landlord against the breach
  of all ordinances, regulations, by-laws, rules and requirements of any
  Governmental or other competent authority relating to the use and occupation
  of the Premises, or to any other act, deed, matter or thing done, permitted,
  suffered or omitted therein or thereon by the Tenant or any employee, agent
  or licensee of the Tenant and without prejudice to the foregoing to obtain
  any licence approval or permit required by any Governmental or other
  competent authority in connection with the Tenant’s use or occupation of the
  Premises prior to the commencement of the Tenant’s business and to maintain
  the same in force and in all respects comply with the terms thereof during
  the currency of this tenancy and to indemnify the Landlord against the
  consequences of any breach of this provision;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Fitting
  Out the Interior of the Premises

  	
   

  	
  3.02

  	
   

  	
  (a)

  	
   

  	
  To
  fit out the interior of the Premises in accordance with such Premises plans
  and specifications including but not limited to electrical and mechanical
  layout, P & D design, etc. as shall have been first submitted by the
  Tenant to and approved in writing by the Landlord in a good and

  

 

5

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  proper
  workmanlike fashion.  Such fitting out
  works must not be commenced before such plans and specifications have been
  approved by the Landlord.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (b)

  	
   

  	
  The
  Tenant shall pay to the Landlord on demand all mechanical, engineering and
  structural engineering consultant’s fees incurred by the Landlord in
  connection with the consideration and approval of the Tenant’s Plans or any
  modifications or amendments thereof.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Installation
  of Telephone Cables

  	
   

  	
  3.03

  	
   

  	
   

  	
   

  	
  To
  make its own arrangements with regard to the installation of telephones or
  other communications systems within the Premises, but the installation of
  telephone and communications lines outside the Premises must be in the common
  ducting provided for that purpose and in all respects be in accordance with
  the Landlord’s directions;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Good
  Repair of Interior

  	
   

  	
  3.04

  	
   

  	
   

  	
   

  	
  To
  keep all the interior part of the Premises including the flooring and
  interior plaster or other finishing material or rendering to walls floors and
  ceilings and the shopfront external grilles or shutters to the Premises and
  the Landlord’s fixtures and fittings therein and all additions (whether of
  the Landlord or the Tenant) thereto including (without limitation and
  wherever the same shall be installed in or upon the Premises) all escalators
  doors windows electrical installations and wiring light fittings suspended
  ceiling fire fighting apparatus and air-conditioning plant and ducting
  exhaust ducts, scrubber and carbon filters, grease traps and all pipes
  plumbing and drainage facilities and all painting, papering and decoration
  thereof in good clean tenantable substantial and proper repair and condition
  and as may be appropriate from time to time properly painted and decorated
  cleansed cleared or

  

 

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  replaced
  and so to maintain the same at the expense of the Tenant and to deliver up
  the same and all fittings, fixtures and additions therein and thereto other
  than tenant’s fixtures and fittings to the Landlord at the expiration or
  sooner determination of the said term in like condition and without prejudice
  to the generality of the foregoing during the last year of the term hereby
  reserved if reasonably required by the Landlord to repaint and decorate the
  interior of the Premises;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Cleaning
  of Grease Trap

  	
   

  	
  3.05

  	
   

  	
   

  	
   

  	
  To
  clean and clear every grease trap (if any, and whether within or outside the
  Premises) serving the Premises or used by the Tenant as often as is necessary
  to ensure the free, uninterrupted and efficient working of the drainage and
  sewage facilities serving the Building. The Landlord shall be entitled from
  time to time to require the Tenant to do such cleaning and clearing at such
  regular intervals as may be prescribed by the Landlord. If default shall be
  made by the Tenant in fulfilling its obligations under this Clause the
  Landlord shall be entitled to do such cleaning and clearing, entering the
  Premises whenever necessary and the cost thereof shall be a debt due from the
  Tenant to the Landlord and be recoverable forthwith by action;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Installation
  of wires cables and services

  	
   

  	
  3.06

  	
   

  	
   

  	
   

  	
  To
  install all wires pipes and cables and other services serving the Premises in
  and through the duets trunkings and conduits in the Building provided by the
  Landlord for such purposes and at all times in accordance with the Landlord’s
  directions and not to install any such wires pipes cables or other services
  without first providing the Landlord with full particulars and a fully
  detailed plan and diagram of such intended installation and obtaining the
  Landlord’s consent in regard thereto.

  

 

7

 

	
  Replacement
  of Windows

  	
   

  	
  3.07

  	
   

  	
   

  	
   

  	
  To
  pay to or reimburse the Landlord the cost of replacing all broken or damaged
  windows or shopfront glass whether the same be broken or damaged by the
  negligence of the Tenant or owing to circumstances beyond the control of the
  Tenant;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Repair
  of Electrical Installations

  	
   

  	
  3.08

  	
   

  	
   

  	
   

  	
  To
  repair or replace as so required by the appropriate utility company or
  authority under the terms of the Electricity Supply Ordinance or any
  statutory modification or re-enactment thereof or Regulations made thereunder
  by duly authorised contractor, statutory undertaker or authority as the case
  may be all the electricity wiring installations and fittings within the
  Premises and the wiring from the Tenant’s meter or meters to and within the
  same;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Good
  Repair of Toilets & Water Apparatus

  	
   

  	
  3.09

  	
   

  	
   

  	
   

  	
  At
  the expense of the Tenant to maintain all toilets and sanitary and water
  apparatus as are located within the Premises (or elsewhere if used
  exclusively by the Tenant its employees invitees and licensees) in good clean
  and tenantable state and in proper repair and condition at all times during
  the said Term to the satisfaction of the Landlord and in accordance with the
  Regulations of the Public Health or Government Authority concerned;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Cleaning
  & Cleaning Contractors

  	
   

  	
  3.10

  	
   

  	
   

  	
   

  	
  To
  keep the Premises including all external windows lights and shopfront glass
  at all times in a clean and sanitary state and condition, and for the better
  observance hereof the Tenant shall only employ as cleaners of the Premises
  such persons or firms as shall be nominated by the Landlord. Such Cleaners
  shall be employed at the expense of the Tenant;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Cleaning
  of Drains

  	
   

  	
  3.11

  	
   

  	
   

  	
   

  	
  To
  pay on demand to the Landlord the cost properly incurred by the Landlord in
  cleansing and clearing any of the drains

  

 

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  choked
  or stopped up owing to improper or careless use by the Tenant or his
  employees invitees or licensees;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  To
  Permit Landlord To Enter & View

  	
   

  	
  3.12

  	
   

  	
   

  	
   

  	
  To
  permit the Landlord its agents and all persons authorised by it with or
  without workmen or others and with or without appliances at all reasonable times
  to enter upon the Premises to view the condition thereof and upon prior
  notice to the Tenant to take inventories of the fixtures and fittings therein
  and to carry out any work or repair required to be done provided that in the
  event of an emergency the Landlord its servants or agents may enter without
  notice and forcibly if need be;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  To
  Execute Repair on Receipt of Notice

  	
   

  	
  3.13

  	
   

  	
   

  	
   

  	
  To
  make good all defects and wants of repair to the Premises for which the
  Tenant may be liable within the space of one month from the receipt of
  written notice from the Landlord to repair amend and make good the same, and
  if the Tenant shall fail to execute such works or repairs as aforementioned
  to permit the Landlord to enter upon the Premises and execute the same and
  the cost thereof shall be a debt due from the Tenant to the Landlord and be
  recoverable forthwith by action;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Inform
  Landlord of Damage

  	
   

  	
  3.14

  	
   

  	
   

  	
   

  	
  To
  give prompt notice to the Landlord or its agent of any damage that may be
  suffered to the Premises and of any accident to or defects in the water and
  gas pipes (if any) electrical wiring or fittings, fixtures or other services
  or facilities within the Premises;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Protection
  from Typhoon

  	
   

  	
  3.15

  	
   

  	
   

  	
   

  	
  To
  take all necessary and appropriate precautions to protect the interior of the
  Premises from storm or typhoon damage;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Indemnification
  of Landlord

  	
   

  	
  3.16

  	
   

  	
   

  	
   

  	
  To
  be wholly responsible for any loss damage or injury caused to any person
  whomsoever or to any property whatsoever directly or indirectly through the
  defective

  

 

9

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  or
  damaged condition or operation of any part of the interior of the Premises or
  any machinery or plant or any fixtures or fittings or wiring or piping
  therein for the repair of which the Tenant is responsible hereunder or in any
  way caused by or owing to the spread of fire smoke or fumes or the leakage or
  overflow of water of whatsoever origin from the Premises or any part thereof
  or through the act default or neglect of the Tenant his servants agents
  contractors licensees partners or customers and to make good the same by
  payment or otherwise and to indemnify the Landlord against all costs claims
  demands actions and legal proceedings whatsoever made upon the Landlord by any
  person in respect of any such loss damage or injury as aforesaid and all
  costs and expenses incidental thereto;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Air-conditioning
  of Premises

  	
   

  	
  3.17

  	
   

  	
   

  	
   

  	
  Where
  any plant machinery or equipment for cooling or circulating air is installed
  in or about the Premises (whether by the Landlord or the Tenant) the Tenant
  will to the extent of the Tenant’s control over the same at all times use and
  regulate the same to ensure that the air-conditioning plant is employed to
  best advantage in the conditions from time to prevailing and without
  prejudice to the generality of the foregoing will operate and maintain such
  plant within the Premises as the Landlord may reasonably determine to ensure
  a reasonably uniform standard of air cooling or conditioning throughout the
  Building;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Refuse
  & Garbage Removal

  	
   

  	
  3.18

  	
   

  	
   

  	
   

  	
  To
  be responsible for the removal of refuse and garbage from the Premises to
  such location as shall be specified by the Landlord from time to time and to
  use only that type of refuse container as is specified by the Landlord from
  time to time. In the event of the Landlord providing a collection service for
  refuse and garbage the same shall be used by the Tenant to the exclusion of
  any other similar service and the use of

  

 

10

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  such
  service provided by the Landlord shall be at the sole cost of the Tenant;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Service
  Entrances

  	
   

  	
  3.19

  	
   

  	
   

  	
   

  	
  To
  load and unload goods only at such times and through such entrances and by
  such service lifts (if any) as shall be designated by the Landlord for this
  purpose from time to time;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Common
  Areas

  	
   

  	
  3.20

  	
   

  	
   

  	
   

  	
  To
  pay to or reimburse to the Landlord the cost of repairing any damage caused
  to any part of the common areas of the Building occasioned by the Tenant his
  licensees employees agents or contractors or any other person claiming
  through or under the Tenant;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Contractors
  Employees Invitees & Licensees

  	
   

  	
  3.21

  	
   

  	
   

  	
   

  	
  To
  be liable for any act default negligence or omission of the Tenant’s
  contractors, employees invitees or licensees as if it were the act default
  negligence or omission of the Tenant and to indemnify the Landlord against
  all cost claims demands expenses or liability to any third party in
  connection therewith;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Directory Boards

  	
   

  	
  3.22

  	
   

  	
   

  	
   

  	
  To
  pay the Landlord immediately upon demand the cost of affixing repairing or
  replacing as necessary the Tenant’s name in lettering to the directory boards
  at the Building;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Regulations

  	
   

  	
  3.23

  	
   

  	
   

  	
   

  	
  To
  obey and comply with such Regulations as may from time to time be made or
  adopted by the Landlord in accordance with Section X hereof;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Security
  System

  	
   

  	
  3.24

  	
   

  	
   

  	
   

  	
  To
  ensure that its own security system within and at the entrance of the
  Premises is at all times compatible with and linked up to the security system
  for the Building provided and operated by the Landlord (if any);

  

 

11

 

	
  Yield
  Up Premises & Handover

  	
   

  	
  3.25

  	
   

  	
   

  	
   

  	
  To
  yield up the Premises with all fixtures fittings and additions therein and
  thereto at the expiration or sooner determination of this Agreement in good
  clean and tenantable repair and condition in accordance with the stipulations
  hereinbefore contained together with all keys giving access to all parts of
  the Premises Provided That

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (a)

  	
   

  	
  Where
  a suspended ceiling system (the “Suspended Ceiling System”) had been
  installed at the Premises (whether by the Landlord or was present either at
  the commencement of the Term or when the Tenant took possession of the
  Premises) the Tenant shall at its own cost reinstate repair and make good all
  damage caused to the Suspended Ceiling System to the satisfaction of the
  Landlord before delivering up possession of the Premises to the Landlord;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (b)

  	
   

  	
  (i)

  	
   

  	
  Where
  there are any installations, additions, alterations, fittings and fixtures
  upon or in the Premises whether the same have been made or installed prior to
  or after the commencement of the Term; or

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (ii)

  	
   

  	
  Where
  the Tenant has made any alterations or installed any fixtures fittings or
  additions in or to the Premises and notwithstanding that the Landlord’s
  consent for so doing may have been obtained or have been given or be deemed
  to have been given

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  the
  Landlord may at its sole discretion require the Tenant at the Tenant’s sole
  cost and expense to reinstate or remove or do away with all or any such
  installations, additions, alterations, fittings or fixtures or any part or
  portion thereof and to make good and repair in a proper and workmanlike
  manner any damage to the

  

 

12

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Premises
  and the Landlord’s fixtures and fittings therein caused by such removal or
  reinstatement and deliver up the Premises to the Landlord in a “bare shell”
  condition to the satisfaction of the Landlord.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION IV

  

  LANDLORD’S OBLIGATIONS

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  4.

  	
   

  	
   

  	
   

  	
  The
  Landlord agrees with the Tenant as follows :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Quiet
  Enjoyment

  	
   

  	
  4.01

  	
   

  	
   

  	
   

  	
  To
  permit the Tenant duly paying the Rent rates and other charges and the
  service charge hereby agreed to be paid on the days and in manner herein
  provided for .payment of the same and observing and performing the agreements
  stipulations terms conditions and obligations herein contained to have quiet
  possession and enjoyment of the Premises during the said term without any
  interruption by the Landlord or any person lawfully claiming under or through
  or in trust for the Landlord;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Government
  Rent

  	
   

  	
  4.02

  	
   

  	
   

  	
   

  	
  To
  pay the Government Rent and Property Tax attributable to or payable in
  respect of the Premises;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Air-conditioning

  	
   

  	
  4.03

  	
   

  	
   

  	
   

  	
  To
  use reasonable endeavours to maintain the escalators, fire services
  equipment, security installations and air-conditioning plant and water
  chilling apparatus and other services provided within the Building not within
  the Premises in proper working order and condition;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chilled
  Water Supply

  	
   

  	
  4.04

  	
   

  	
  (a)

  	
   

  	
  Subject
  to Section VI Sub-clause 6.01(i) hereof to provide a supply of chilled
  water to the Premises for the purposes of the Tenant’s air-conditioning
  during the normal business hours to be decided by the Manager of the Building
  whose decision shall be final and conclusive;

  

 

13

 

	
   

  	
   

  	
   

  	
   

  	
  (b)

  	
   

  	
  Subject
  to Section VI Sub-clause 6.01 (i) hereof the Landlord shall, at the
  absolute discretion of the Landlord, supply the Tenant with a supply of
  chilled water to the Premises for the purposes of the Tenant’s
  air-conditioning during hours outside the normal business hours upon request
  being made by the Tenant to the Landlord. 
  The cost for such additional hours of chilled water supply from time
  to time shall be determined by the Landlord or the building manager whose
  decision shall be final and notified to the Tenant from time to time and
  shall be paid by the Tenant to the Landlord with the rent and other charges
  payable under this Tenancy Agreement and shall be recoverable by the Landlord
  as part of the air-conditioning and management charges hereunder.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Obligation
  Where Landlord not owner of Whole Building

  	
   

  	
  4.05

  	
   

  	
   

  	
   

  	
  In
  the event that the Landlord is not the owner of the whole of the Building,
  the obligations of the Landlord under Section IV Sub- Clauses 4.03 and
  4.04 hereof shall be deemed to have been modified so that the Landlord shall
  only be under an obligation to use reasonable endeavours to procure that the
  manager appointed under the Deed of Mutual Covenant or any Sub- Deed of
  Mutual Covenant affecting the Building or the incorporated owners of the
  Building shall do the things referred to in such Sub-Clauses to the extent
  that they are within the power and duty of the manager or incorporated owners
  and the Landlord shall not be liable to the Tenant or any other person for
  the failure on the part of the manager or incorporated owners to do any such
  things.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Rights
  Reserved to the Landlord

  	
   

  	
  4.06

  	
   

  	
   

  	
   

  	
  It
  is hereby agreed and expressly confirmed that the following rights are
  excepted and reserved to the Landlord (its successors and assigns and all
  persons having the like right) throughout the said Term :-

  

 

14

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (a)

  	
   

  	
  the
  right of free and uninterrupted passage and running of water, soil, gas,
  drainage, electricity and all other services or supplies through such sewers,
  watercourses, conduits, pipes, wires, cables and ducts as are now or may
  hereafter be in, on or under the Premises and serving or capable of serving
  the Building or any adjoining or neighbouring property TOGETHER WITH the
  right to enter upon the Premises to inspect repair replace or maintain any
  such sewers, watercourses, conduits, pipes, wires, cables and ducts Provided
  That in the exercise of this latter right the Landlord shall cause as little
  damage or inconvenience to the Tenant as possible and forthwith make good any
  damage caused;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (b)

  	
   

  	
  the
  full and free right and liberty to enter upon the Premises in the
  circumstances in which the covenants by the Tenant contained in these
  presents permit such entry and in particular but without prejudice to the
  generality of the foregoing the right to enter into and upon the Premises at
  all times for the purpose of obtaining access to and egress from any
  machinery or switch rooms or the like remaining under the control of the
  Landlord and located on any of the floors of the Building on which any
  portion of the Premises is situated;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (c)

  	
   

  	
  the
  right from time to time on giving reasonable notice to the Tenant (such
  notice not to be required in case of emergency or breakdown) and causing as
  little inconvenience to the Tenant as

  

 

15

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  reasonably
  possible to suspend the air-conditioning system, lifts, escalators, electric
  power, water supply and any other building service provided in or serving the
  Building for the purpose of servicing, maintaining, repairing, renewing,
  improving or replacing the same and any of them;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (d)

  	
   

  	
  the
  right from time to time and without the necessity of joining the Tenant or
  any other person to enter into such Deed of Mutual Covenant or Sub-Deed of
  Mutual Covenant or Management Agreement affecting the Building or any part
  thereof as the Landlord shall deem appropriate.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION V

  

  RESTRICTIONS AND PROHIBITIONS

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5.

  	
   

  	
   

  	
   

  	
  The
  Tenant hereby agrees with the Landlord as follows :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Installation
  & Alterations

  	
   

  	
  5.01

  	
   

  	
  (a)

  	
   

  	
  Not
  without the previous written consent of the Landlord to erect install or
  alter any fixtures partitioning or other erection or installation in the
  Premises or to make suffer or permit to be made any alterations or additions
  to the electrical wiring installation air-conditioning plant or ducting (if
  any) and lighting fixtures or any part thereof or other Landlord’s fixtures
  nor without the like consent to install or permit or suffer to be installed
  any plant equipment apparatus or machinery including any safe or other object
  which imposes a weight on any part of the flooring in excess of that for
  which it was designed. The Landlord shall be entitled to prescribe the
  maximum weight and permitted location of safes and other heavy equipment and
  to require that the same stand on supports of such

  

 

16

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  dimensions
  and material to distribute the weight as the Landlord may deem necessary. All
  reasonable and proper fees incurred by the Landlord in obtaining the approval
  of its architects to the location of heavy objects shall be borne by the
  Tenant and payment therefor may be imposed as a pre-requisite to the Tenant
  receiving such consent;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (b)

  	
   

  	
  Not
  to install any air-conditioning plant or equipment of any kind on or within
  or at any part of the Premises without the prior consent of the Landlord in
  writing AND the Tenant shall comply with the directions and instructions of
  the Landlord regarding installation and shall at its own expense be
  responsible for their periodic inspection maintenance and repair and for the
  replacement of defective wiring and the Tenant shall be strictly liable for
  any damage caused by the installation operation defect or removal of such
  units;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (c)

  	
   

  	
  Not
  to make or permit or suffer to be made any alterations in or additions to the
  mechanical or electrical installations in the Building nor to install or
  permit or suffer to be installed any equipment, apparatus or machinery which
  exceeds the loading of the electrical installations in the Building nor to
  install or permit or suffer to be installed any equipment, apparatus or
  machinery which exceeds the loading of the electrical main or wiring or which
  consumes electricity not metered through the Tenant’s separate meter;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (d)

  	
   

  	
  Not
  to make or permit or suffer to be made any alterations to any installation or
  fixture so as to affect or be likely to affect the supply of water,
  electricity or other utility or service to or in the Building;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (e)

  	
   

  	
  In
  carrying out any approved work hereunder the Tenant its servants agents
  contractors and workmen shall obey and

  

 

17

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  comply
  with all reasonable instructions and directions which may be given by the
  Landlord, its Project Manager or other authorised representatives in
  connection with the carrying out of such work;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (f)

  	
   

  	
  Any
  fees or expenses incurred by the Landlord in connection with the giving of
  consents hereunder shall be borne by the Tenant;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Injury
  to Main Walls

  	
   

  	
  5.02

  	
   

  	
   

  	
   

  	
  Not
  without the previous written consent of the Landlord to cut maim or injure or
  permit or suffer to be cut maimed or injured any doors windows walls beams
  structural members or other part of the fabric of the Premises;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Alterations
  to Exterior

  	
   

  	
  5.03

  	
   

  	
   

  	
   

  	
  Not
  to affix anything or paint or make any alteration whatsoever to the exterior
  of the Premises save as provided in Section V Clause 5.07 hereof;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Obstructions
  to Outside Windows

  	
   

  	
  5.04

  	
   

  	
   

  	
   

  	
  Not
  to block up darken or obstruct or obscure any shop front window or any other
  window or lights belonging to the Premises without having obtained the
  express written consent of the Landlord which consent may be given subject to
  such conditions as the Landlord may in its absolute discretion consider fit
  to impose;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Not
  to erect gates or grilles

  	
   

  	
  5.05

  	
   

  	
   

  	
   

  	
  Not
  without the prior written consent of the Landlord to erect or install doors,
  gates, metal grilles, shutters or other similar installation whatsoever
  whether temporary or permanent at the doorway or entrance to the Premises or
  at any of the fire exits therefrom or erect any such doors or metal grille or
  shutter or gate that might in any way contravene the regulations from time to
  time in force of the Fire Services Department or other competent authority
  concerned, nor in any other respect to contravene the said regulations;

  

 

18

 

	
  Noise

  	
   

  	
  5.06

  	
   

  	
   

  	
   

  	
  Not
  to cause or produce or suffer or permit to be produced on or in the Premises
  any sound or noise (including sound produced by broadcasting from
  Rediffusion, Television, Radio and any apparatus or instrument capable of
  producing or reproducing music and sound) or any vibration or resonance or
  other form of disturbance or other acts or things in or on the Premises which
  is or are or may be a nuisance to the tenants or occupiers of adjacent or
  neighbouring premises or to users and customers of the same or to the Landlord
  and in the event of the Tenant’s permitted business use of the Premises as
  defined in Part VII of the Schedule hereto requiring any sound or noise
  to be produced or reproduced within the Premises or any part thereof to
  install and maintain to the satisfaction of the Landlord appropriate and
  adequate sound absorbing and insulating material so as to prevent such sound
  or noise from escaping from the Premises and from becoming a nuisance or
  annoyance to other tenants or occupiers of the Building or any part thereof
  or any adjoining or adjacent premises.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Signs

  	
   

  	
  5.07

  	
   

  	
   

  	
   

  	
  Save
  as permitted pursuant to Clause 3.22 hereof not to exhibit or display on or
  affix to the exterior of the Premises or on the interior face of the curtain
  wall and window of the Premises any writing sign signboard or other device
  whether illuminated or not nor to affix any writing sign signboard or other
  device in at or above any common area lobby landing or corridor of the
  Building.  Provided always that the
  Tenant shall be entitled to have its name and business displayed in lettering
  and/or characters to a design and standard of workmanship approved by the
  landlord (which approval shall not be unreasonably withheld) on a signboard
  upon the front of the Premises.

  

 

19

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  If
  the Tenant carries on business under a name other than its own name it shall
  be entitled to have that name displayed aforesaid but the Tenant shall not be
  entitled to change the business name without the previous written consent of
  the Landlord (which consent shall not be unreasonably withheld) and without
  prejudice to the foregoing the Landlord may in connection with any
  application for consent under this clause require the Tenant to produce such
  evidence as it shall think fit to show that no breach of Section V
  Clause 5.21 hereof has taken place or is about to take place;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Auction
  & Sales

  	
   

  	
  5.08

  	
   

  	
   

  	
   

  	
  Not
  to conduct or permit any auction fire bankruptcy close-out or similar sale of
  things or properties of any kind to take place on the Premises Provided that
  this provision shall not preclude the conduct of genuine periodic seasonal or
  promotional sales where the permitted user of the Premises includes shop or
  retail uses;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Illegal
  Immoral or Improper Use

  	
   

  	
  5.09

  	
   

  	
   

  	
   

  	
  Not
  to use or cause permit or suffer to be used any part of the Premises for
  gambling or for any illegal immoral or improper purposes or in any way so as
  to cause nuisance or annoyance inconvenience or damage or danger to the
  Landlord or the tenants or occupiers of adjacent or neighbouring Premises;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  No
  Touting

  	
   

  	
  5.10

  	
   

  	
   

  	
   

  	
  Not
  to tout or solicit or procure or permit any touting or soliciting for
  business or the distribution of any pamphlets notices or advertising matter
  outside the Premises or anywhere within the Building by any of the Tenant’s
  servants agents or licensees;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sleeping
  or Domestic Use

  	
   

  	
  5.11

  	
   

  	
   

  	
   

  	
  Not
  to use the Premises or any part thereof as sleeping quarters or as domestic
  premises within the meaning of any ordinance for the time being in force or
  to allow any person to remain on the Premises

  

 

20

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  overnight
  unless with the Landlord’s prior permission in writing;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Storage
  of dangerous goods

  	
   

  	
  5.12

  	
   

  	
   

  	
   

  	
  Not
  to keep or store or cause or permit or suffer to be kept or stored any extra
  hazardous or dangerous goods within the meaning of the Dangerous Goods
  Ordinance and the regulations thereunder or any Statutory modification or
  re-enactment thereof;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  User

  	
   

  	
  5.13

  	
   

  	
   

  	
   

  	
  Not
  to use the Premises for any purpose other than the purpose specified in Part
  VII of the Schedule hereto;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Obstructions
  in Passages

  	
   

  	
  5.14

  	
   

  	
   

  	
   

  	
  Not
  to place or leave or suffer or permit to be placed or left by any contractor
  employee invitee or licensee of the Tenant any boxes furniture articles or
  rubbish in the entrances or any of the staircases passages or landings of the
  Building used in common with other tenants or the Landlord or otherwise
  encumber the same;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Parking
  & Loading

  	
   

  	
  5.15

  	
   

  	
   

  	
   

  	
  Not
  to park in obstruct or otherwise use nor permit to be parked in obstructed or
  otherwise used by any employee agent or licensee of the Tenant those areas of
  the Building allocated to parking the movement of or access for vehicles or
  designated as loading/unloading areas other than in accordance with the
  Regulations made from time to time by the Landlord;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Goods
  & Merchandise Outside the Premises

  	
   

  	
  5.16

  	
   

  	
   

  	
   

  	
  Not
  to place expose or leave or permit to be placed exposed or left for display
  sale or otherwise any goods or merchandise whatsoever upon or over the ground
  outside the Premises;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Free
  Standing Signs

  	
   

  	
  5.17

  	
   

  	
   

  	
   

  	
  Not
  to place expose or leave or permit to be placed exposed or left any free
  standing signs upon or over the ground outside the Premises or in any of the
  staircases passages or landings of the Building used in common with other
  Tenants or the Landlord;

  

 

21

 

	
  Preparation
  of Food & Prevention of Odours

  	
   

  	
  5.18

  	
   

  	
   

  	
   

  	
  Not
  to cause or permit any offensive or unusual odours arising out of the
  preparation of food upon the Premises (if so permitted under the terms of
  Part VII of the Schedule) to emanate from the Premises so as to cause in the
  Landlord’s opinion a nuisance to other occupiers or users of the Building;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Food
  by Serviceways

  	
   

  	
  5.19

  	
   

  	
   

  	
   

  	
  Not
  to permit or allow any food stuffs or food containers to be brought onto or
  removed from the Premises except by way of service entrances service exits
  and (if any) service lifts or otherwise as may be directed by the Landlord
  from time to time;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Animals,
  Pets & Infestation

  	
   

  	
  5.20

  	
   

  	
   

  	
   

  	
  Not
  to keep or permit or suffer to be kept any pets animals or livestock inside
  the Premises and to take all such reasonable steps and precautions to the satisfaction
  of the Landlord as shall be necessary to prevent the Premises or any part
  thereof from becoming infested by termites rats mice roaches or any other
  pests or vermin and for the better observance hereof the Landlord may require
  the Tenant at the Tenant’s cost to employ such pest extermination contractors
  as the Landlord may nominate and at such intervals as the Landlord may
  direct;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Alienation

  	
   

  	
  5.21

  	
   

  	
   

  	
   

  	
  Not
  to assign underlet or otherwise part with the possession of the Premises or
  any part thereof in any way whether by way of subletting lending sharing or
  other means whereby any person or persons not a party to this Agreement
  obtains the use or possession of the Premises or any part thereof
  irrespective of whether any rental or other consideration is given for such
  use or possession and in the event of any such transfer sub-letting sharing
  assignment or parting with the possession of the Premises (whether for
  monetary consideration or not) this Agreement shall absolutely determine

  

 

22

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  and
  the Tenant shall forthwith vacate the Premises on notice to that effect from
  the Landlord. The Tenancy shall be personal to the Tenant named in the
  Schedule to this Agreement and without in any way limiting the
  generality of the foregoing the following acts and events shall unless
  approved in writing by the Landlord be deemed to be breaches of this clause
  :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (i)

  	
   

  	
  In
  the case of a tenant which is a partnership the taking in of one or more new
  partners whether on the death or retirement of an existing partner or
  otherwise;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (ii)

  	
   

  	
  In
  the case of a tenant who is an individual (including a sole surviving partner
  of a partnership tenant) the death insanity or disability of that individual
  to the intent that no right to use possess occupy or enjoy the Premises or
  any part thereof shall vest in the executors administrators personal
  representatives next of kin trustee or committee of any such individual;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (iii)

  	
   

  	
  In
  the case of a tenant which is a corporation any take-over reconstruction
  amalgamation merger voluntary liquidation or change in the person or persons
  who owns or own a majority of its voting shares or who otherwise has or have
  effective control thereof;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (iv)

  	
   

  	
  The
  giving by the Tenant of a Power of Attorney or similar authority whereby the
  donee of the Power obtains the right to use possess occupy or enjoy the
  Premises or any part thereof or does in fact use possess occupy or enjoy the
  same;

  

 

23

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (v)

  	
   

  	
  The
  change of the Tenant’s business name without the previous written consent of
  the Landlord which consent the Landlord may give or withhold at its
  discretion;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Breach
  of Government Lease

  	
   

  	
  5.22

  	
   

  	
   

  	
   

  	
  Not
  to cause suffer or permit any contravention of the negative or restrictive
  provisions of the Government Lease or Conditions of Grant under which the
  Landlord holds the Premises or any Deed of Mutual Covenant or any Sub-Deed of
  Mutual Covenant affecting the Building and to indemnify the Landlord against
  any such breach;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Breach
  of Insurance Policy

  	
   

  	
  5.23

  	
   

  	
   

  	
   

  	
  Not
  to cause or suffer or permit to be done any act or thing whereby the policy
  or policies of insurance on the Premises against damage by fire or liability
  to Third Parties for the time being subsisting may become void or voidable or
  whereby the rate of premium or premiums thereon may be increased, and to
  repay to the Landlord on demand all sums paid by the Landlord by way of increased
  premium or premiums thereon and all expenses incurred by the Landlord in and
  about any renewal of such policy or policies arising from or rendered
  necessary by a breach of this Clause;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Prohibited
  Names

  	
   

  	
  5.24

  	
   

  	
   

  	
   

  	
  Not
  without the previous written consent of the Landlord to name or include in
  the name of the business or company operated by the Tenant the name of the
  Building or any name similar thereto and not at any time to change the name
  of the business or company to include any such name as aforesaid.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Locks

  	
   

  	
  5.25

  	
   

  	
   

  	
   

  	
  Not
  without the previous written consent of the Landlord (such consent not to be
  unreasonably withheld) to alter the existing locks, bolts and fittings on the
  entrance doors to the Premises nor to install any additional locks, bolts or
  fittings thereon.

  

 

24

 

	
  Tenants’
  Association

  	
   

  	
  5.26

  	
   

  	
   

  	
   

  	
  Not
  to form or organise or attempt or make any effort to form or organise any
  tenant’s association or union jointly with any tenants of the Building for
  whatever objects or purposes during the continuance of the tenancy.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Overload

  	
   

  	
  5.27

  	
   

  	
   

  	
   

  	
  Not
  to place on any part of floors of the Premises any article, machinery, goods
  or merchandise which may cause the maximum floor loading-bearing capacity
  thereof to be exceeded.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION VI

  

  EXCLUSIONS

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  6.                                                                                               IT IS HEREBY FURTHER EXPRESSLY AGREED AND
  DECLARED that the Landlord shall not in any circumstances be liable to the
  Tenant or any other person whomsoever :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Breakdown
  of Lifts, Air-Conditioning, Utilities

  	
   

  	
  6.01

  	
   

  	
  (i)

  	
   

  	
  In
  respect of any loss of profit or of business or loss of life or loss, injury
  or damage to person or property or for any disruption or inconvenience caused
  to or suffered or sustained by the Tenant or any other person caused by or
  through or in any way owing to or arising out of or connected with any defect
  in or breakdown or suspension of service of the lifts air-conditioning
  system, electric power or water supplies, or any other building service provided
  in or serving the Building, or

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Fire
  and overflow of water

  	
   

  	
   

  	
   

  	
  (ii)

  	
   

  	
  In
  respect of any loss of profit or of business or loss of life or loss injury
  or damage to person or property or for any disruption or inconvenience caused
  to or suffered or sustained by the Tenant or any other person caused by or
  through or in any way owing to or arising out of or connected with any escape
  of fumes smoke fire or any

  

 

25

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  other
  substance or thing or the overflow of water from anywhere within the
  Building, or

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Security

  	
   

  	
   

  	
   

  	
  (iii)

  	
   

  	
  For
  the security or safekeeping of the Premises or any contents therein and in
  particular but without prejudice to the generality of the foregoing the
  provision by the Landlord of watchmen and caretakers or any mechanical or
  electrical systems of alarm of whatever nature shall not create any
  obligation on the part of the Landlord as to the security of the Premises or
  any contents therein and the responsibility for the safety of the Premises
  and the contents thereof shall at all times rest with the Tenant,

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  nor
  shall the rent hereinbefore mentioned or other charges payable hereunder or
  any part thereof abate or cease to be payable on account of any of the
  foregoing.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION VII

  

  ABATEMENT OF RENT

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Suspension
  of Rent in case of Fire

  	
   

  	
  7.01

  	
   

  	
   

  	
   

  	
  If
  the Premises or the Building or any part thereof shall at any time during the
  tenancy be destroyed or damaged or become inaccessible owing to fire water
  storm typhoon defective construction white ants earthquake subsidence of the
  ground or any calamity beyond the control of the Landlord so as to render the
  Premises unfit for commercial use or inaccessible and the policy or policies
  of insurance effected by the Landlord shall not have been vitiated or payment
  of policy monies refused in whole or in part in consequence of any act or
  default of the Tenant or if at any time during the continuance of this
  Tenancy the Premises or the Building shall be condemned as a dangerous
  structure or a demolition order or closing order shall

  

 

26

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  become
  operative in respect of the Premises or the Building then the rent hereby
  reserved or a fair proportion thereof according to the nature and extent of
  the damage sustained or order made shall be suspended until the Premises or
  the Building shall again be rendered accessible and fit for commercial use
  Provided that should the Premises or the Building not have been reinstated in
  the meantime either the Landlord or the Tenant may at any time after six
  months from the occurrence of such damage or destruction or order give to the
  other of them notice in writing to determine this present tenancy and
  thereupon the same and everything herein contained shall cease and be void as
  from the date of the occurrence of such destruction or damage or order or of
  the Premises becoming inaccessible or unfit for commercial use but without
  prejudice to the rights and remedies of either party against the other in
  respect of any antecedent claim or breach of the agreements stipulations
  terms and conditions herein contained or of the Landlord in respect of the
  rent payable hereunder prior to the coming into effect of the suspension.

  
	
   

  
	
  SECTION VIII

  

  DEFAULT

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  8.

  	
   

  	
   

  	
   

  	
  It
  is hereby expressly agreed and declared as follows :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Default

  	
   

  	
  8.01

  	
   

  	
   

  	
   

  	
  If
  the Rent and/or the management fee and/or the central chilled water charges
  and/or any other sums payable hereunder or any part thereof shall be in
  arrear for fifteen (15) days after the same shall become payable (whether
  formally demanded or not) or if there shall be any breach or non-performance
  of any of the stipulations conditions or agreements herein contained

  

 

27

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  and
  on the part of the Tenant to be observed or performed which the Tenant shall
  fail to rectify or take all necessary steps towards rectification within a
  period of 15 days of being advised in writing of the breach or if the Tenant
  shall stop or suspend payment of its debts or be unable to or admit inability
  to pay its debts as they fall due or enter into any scheme of arrangements
  with its creditors or have any encumbrancer take possession of any of its
  assets in circumstances in which the Landlord shall have reasonable grounds
  for believing that the ability of the Tenant to pay the rentals and other
  charges hereby reserved and to observe and perform its obligations under this
  Agreement shall have been prejudiced or put at risk or have a receiving order
  made against it or in such circumstances as aforesaid fail to satisfy any
  judgment that may be given in any action against it after final appeal or if
  the Tenant shall become bankrupt or being a corporation go into liquidation
  (save for the purposes of amalgamation or reconstruction) or if the Tenant,
  shall suffer any execution to be levied upon the Premises or otherwise on the
  Tenant’s goods or if in such circumstances as aforesaid the Tenant shall
  suspend or cease or threaten to suspend or cease to carry on its business or
  should any event occur or proceedings be taken with respect to the Tenant in
  any jurisdiction to which the Tenant is subject which has an effect
  equivalent or similar to any of the events or circumstances described above
  then and in any such case it shall be lawful for the Landlord at any time
  thereafter to re-enter on and upon the Premises or any part thereof in the
  name of the whole and thereupon this Agreement shall absolutely determine but
  without prejudice to any right or action by the Landlord in respect of any
  outstanding breach or non-observance or non-performance by the Tenant of any
  of the terms of this Agreement.  A
  written

  

 

28

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  notice
  served by the Landlord on the Tenant in manner hereinafter provided to the
  effect that the Landlord thereby exercises the power of determination and/or
  re-entry hereinbefore contained shall be a full and sufficient exercise of
  such power without physical entry on the part of the Landlord notwithstanding
  any statutory or common law provision to the contrary.  All costs and expenses including any legal
  costs and fees incurred by the Landlord in demanding payment of the rent and
  other charges aforesaid (if the Landlord elects to demand) or the extent of
  any loss to the Landlord arising out of this Clause shall be paid by the
  Tenant and shall be recoverable from the Tenant as a debt or be deductable by
  the Landlord from any deposit held by the Landlord hereunder;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Interest

  	
   

  	
  8.02

  	
   

  	
   

  	
   

  	
  Notwithstanding
  anything herein contained in the event of default in payment of rent or other
  monies payable by the Tenant hereunder for a period of 14 days from the date
  when payment is due (whether formally demanded or not) the Tenant shall pay to
  the Landlord on demand daily interest on all such sums outstanding at the
  rate of 1.5% per calendar month calculated from the date on which the same
  shall be due for payment (in accordance with the provisions contained in that
  behalf herein) until the date of payment as liquidated damages and not as
  penalty provided that the demand and/or receipt by the Landlord of interest
  pursuant to this Clause shall be without prejudice to and shall not affect
  the right of the Landlord to exercise any other right or remedy hereof
  (including but without prejudice to the generality of the foregoing the right
  of re-entry) exercisable under the terms of this Agreement;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Acceptance
  of Rent

  	
   

  	
  8.03

  	
   

  	
   

  	
   

  	
  The
  acceptance of any rent by the Landlord hereunder shall not be deemed to
  operate as a waiver by the Landlord of any right to

  

 

29

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  proceed
  against the Tenant in respect of any breach non-observance or non-performance
  by the Tenant of any of the agreements stipulations terms and conditions
  herein contained and on the part of the Tenant to be observed and performed;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Acts
  of Employees Invitees & Licensees

  	
   

  	
  8.04

  	
   

  	
   

  	
   

  	
  For
  the purpose of these presents any act default neglect or omission of any
  guest, visitor, servant, contractor, employee, agent, invitee or licensee of
  the Tenant shall be deemed to be act default neglect or omission of the
  Tenant;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Distraint

  	
   

  	
  8.05

  	
   

  	
   

  	
   

  	
  For
  the purpose of Part III of the Landlord and Tenant (Consolidation) Ordinance
  (Chapter 7) and of this Agreement, the Rent payable in respect of the
  Premises shall be and be deemed to be in arrear if not paid in advance at the
  times and in the manner hereinbefore provided for payment thereof.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Disconnection
  of Air-conditioning Chilled Water Etc.

  	
   

  	
  8.06

  	
   

  	
   

  	
   

  	
  In
  addition and without prejudice to the Landlord’s rights under Clauses 8.01
  and 8.02 hereof, the Landlord shall be entitled, and the Tenant hereby
  specifically authorises the Landlord, in the event of any breach or default
  by the Tenant of or in the performance of any of the terms and conditions of
  this Agreement, cut off or otherwise disconnect the supply of water,
  electricity and air-conditioning chilled water or any of them to the Premises
  and in the event that the Tenant shall have deserted, abandoned or no longer
  be occupying the Premises or on the expiration or sooner determination of the
  Term to dispose of all objects including goods merchandise equipment
  furniture and fixtures in or at the Premises in such manner as the Landlord shall
  deem fit, and any expenses in connection therewith shall be paid by the
  Tenant and shall be recoverable from it as a debt. The Landlord shall incur
  no liability whatsoever to the Tenant in respect of anything done or omitted
  to be done in

  

 

30

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  pursuance
  or purported pursuance of this Clause and the Tenant shall indemnify and keep
  the Landlord fully indemnified against all actions, proceedings, claims,
  costs and expenses in respect of anything done or omitted to be done by the
  Landlord in pursuance or purported pursuance of this Clause.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION IX

  

  DEPOSIT

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Deposit

  	
   

  	
  9.01

  	
   

  	
   

  	
   

  	
  The
  Tenant shall on the signing hereof deposit with the Landlord the sum or sums
  specified in Part VI of the Schedule hereto (being the equivalent of
  three months’ rent and management fee and central chilled water charges at
  the rates payable therefor at the commencement of the Term) to secure the due
  observance and performance by the Tenant of the agreements stipulations terms
  and conditions herein contained and on the part of the Tenant to be observed
  and performed which said deposit shall be held by the Landlord throughout the
  currency of this Agreement free of any interest to the Tenant with the right
  for the Landlord (without prejudice to any other right or remedy hereunder)
  to deduct therefrom the amount of any Rent rates and other charges payable
  hereunder and any costs expenses loss or damage sustained by the Landlord as
  the result of any non-observance or non-performance by the Tenant of any of
  the said agreements stipulations obligations or conditions. In the event of
  any deduction being made by the Landlord from the said deposit in accordance
  herewith during the currency of this Agreement the Tenant shall forthwith on
  demand by the Landlord make a further deposit equal to the amount so deducted
  and failure by the Tenant so to do shall entitle the Landlord forthwith to
  re-enter upon the

  

 

31

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Premises
  and to determine this Agreement as hereinbefore provided.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Increase
  in Deposit

  	
   

  	
  9.02

  	
   

  	
   

  	
   

  	
  The
  amount of the deposit shall be increased following each and any increase in
  rent or the management fee and central chilled water charges provided for
  herein to a sum equal to three (3) months’ rent and management fee and
  central chilled water charges at the rates payable therefor at the date or
  dates of such increase becoming effective, and the Tenant shall make payment
  accordingly and the provisions of this Section IX shall apply to such
  further deposits.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Repayment
  of Deposit

  	
   

  	
  9.03

  	
   

  	
   

  	
   

  	
  Subject
  as aforesaid the said deposit and any further deposits paid shall be refunded
  to the Tenant by the Landlord without interest within a reasonable period of
  time after the expiration or sooner determination of this Agreement and
  delivery of vacant possession to the Landlord and after settlement of the
  last outstanding claim by the Landlord against the Tenant for any arrears of
  Rent rates and other charges and for any breach non-observance or
  non-performance of any of the agreements stipulations terms and conditions
  herein contained and on the part of the Tenant to be observed or performed
  whichever shall be the later.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION X

  

  REGULATIONS

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Introduction
  of Regulations

  	
   

  	
  10.01

  	
   

  	
   

  	
   

  	
  The
  Landlord shall be entitled from time to time and by notice in writing to the
  Tenant to make introduce and subsequently amend adopt or abolish if necessary
  such Regulations as it may consider necessary for the proper operation and
  maintenance of the Building.

  

 

32

 

	
  Conflict

  	
   

  	
  10.02

  	
   

  	
   

  	
   

  	
  Such
  Regulations shall be supplementary to the terms and conditions contained in
  this Agreement and shall not in any way derogate from such terms and
  conditions. In the event of conflict between such Regulations and the terms
  and conditions of this Agreement the terms and conditions of this Agreement
  shall prevail.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exclusion
  of Liability

  	
   

  	
  10.03

  	
   

  	
   

  	
   

  	
  The
  Landlord shall not be liable for any loss or damage howsoever caused arising
  from any non-enforcement of the Regulations or non-observance thereof by any
  third party.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION XI

  

  INTERPRETATION AND MISCELLANEOUS

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name
  of Building

  	
   

  	
  11.01

  	
   

  	
   

  	
   

  	
  The
  Landlord reserves the right to name the Building with any such name or style
  as it in its sole discretion may determine and at any time and from time to
  time to change alter substitute or abandon any such name without thereby
  becoming liable to compensate the Tenant for any loss expense or
  inconvenience caused to the Tenant as a consequence thereof provided that the
  Landlord shall give the Tenant and the Postal and other relevant Government
  Authorities not less than three months notice of its intention so to do.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Alterations
  to the Building

  	
   

  	
  11.02

  	
   

  	
   

  	
   

  	
  The
  Landlord reserves the right from time to time to improve extend add to or
  reduce the Building or in any manner whatsoever alter or deal with the
  Building (other than the Premises) Provided always that in exercising such
  right the Landlord will endeavour to cause as little inconvenience to the
  Tenant as is practicable in the circumstances and make good any damage caused
  to the Premises within a reasonable period of time.

  

 

33

 

	
  Functions
  & Display

  	
   

  	
  11.03

  	
   

  	
   

  	
   

  	
  Notwithstanding
  anything herein contained or implied to the contrary the Landlord may permit
  any person or organization to hold any functions or exhibition or display any
  merchandise in any part or parts of the common areas of the Building at such
  times and upon such terms and conditions as the Landlord may in its absolute
  discretion think fit.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Public
  Address System

  	
   

  	
  11.04

  	
   

  	
   

  	
   

  	
  Notwithstanding
  anything herein contained or implied to the contrary the Landlord may provide
  and install a public address system throughout the common areas of the
  Building and may play relay or broadcast or permit any other person to play
  relay or broadcast recorded music or public announcements thereon.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Condonation
  Not A Waiver

  	
   

  	
  11.05

  	
   

  	
   

  	
   

  	
  No
  condoning excusing or overlooking by the Landlord of any default breach or
  non-observance or non-performance by the Tenant at any time or times of any
  of the agreements stipulations terms and conditions herein contained shall
  operate as a waiver of the Landlord’s right hereunder in respect of any
  continuing or subsequent default breach or non-observance or non- performance
  or so as to defeat or affect in any way the rights and remedies of the
  Landlord hereunder in respect of any such continuing or subsequent default or
  breach and no waiver by the Landlord shall be inferred from or implied by
  anything done or omitted by the Landlord, unless expressed in writing and
  signed by the Landlord. Any consent given by the Landlord shall operate as a
  consent only for the particular matter to which it relates and shall in no
  way be considered as a waiver or release of any of the provisions hereof nor
  shall it be construed as dispensing with the necessity of obtaining the
  specific written consent of the Landlord in the future, unless expressly so
  provided.

  

 

34

 

	
  Letting
  Notices & Entry

  	
   

  	
  11.06

  	
   

  	
   

  	
   

  	
  During
  the three months immediately before the expiration or sooner determination of
  the said Term of tenancy the Tenant shall permit all persons having written
  authority to enter and view the Premises and every part thereof at all
  reasonable times PROVIDED FURTHER that the Landlord shall be at liberty to
  affix and maintain without interference upon any external part of the
  Premises a notice stating that the Premises are to be let and such other
  information in connection therewith as the Landlord shall reasonably require
  during the aforementioned period of 3 months.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Service
  of Notice

  	
   

  	
  11.07

  	
   

  	
   

  	
   

  	
  Any
  notice required to be served on the Tenant shall be sufficiently served if
  delivered to or despatched by registered post or left at the Premises or at
  the last known address of the Tenant. Any notice required to be served on the
  Landlord shall be sufficiently served if delivered or despatched by
  registered post to its registered office from time to time. A notice sent by
  registered post shall be deemed to be given at the time and date of posting.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Gender

  	
   

  	
  11.08

  	
   

  	
   

  	
   

  	
  In
  this Agreement if the context otherwise permits or requires words importing
  the singular number shall include the plural number and vice versa and words
  importing the masculine feminine or neuter gender shall include the other of
  them and references to persons shall include bodies corporate or
  unincorporate.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Marginal
  Notes, Headings & Index

  	
   

  	
  11.09

  	
   

  	
   

  	
   

  	
  The
  Marginal Notes Headings and index are intended for guidance only and do not
  form part of this Agreement nor shall any of the provisions of this Agreement
  be construed or interpreted by reference thereto or in any way affected or
  limited thereby.

  

 

35

 

	
  Stamp
  Duty & Costs

  	
   

  	
  11.10

  	
   

  	
   

  	
   

  	
  The
  legal costs of and incidental to the preparation execution and completion of
  this Agreement shall be borne by the Landlord and the Tenant in the manner
  stipulated in Part VIII of the Schedule hereto.  The stamp duty and registration fee (if
  any) on this Agreement shall be borne by the parties hereto in equal shares.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Deed
  of Mutual Covenant and Management Agreement

  	
   

  	
  11.11

  	
   

  	
   

  	
   

  	
  The
  Tenant shall observe and comply with and perform all the covenants terms and
  provisions in the Deed of Mutual Covenant or Sub-Deed of Mutual Covenant or
  Management Agreement (if any) relating to the Building so far as they relate
  to the Premises and shall indemnify the Landlord against the breach
  non-observance or non- performance thereof.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  In
  the event that under any such Deed of Mutual Covenant or Sub-Deed of Mutual
  Covenant or Management Agreement the supply of chilled water and/or the operation
  and/or the management of the Building or the right, power or duty thereto
  shall be controlled by or vested in a manager the Tenant shall pay all
  air-conditioning and service charge and all management and maintenance
  charges relating to the Premises as may be payable under such Deed of Mutual
  Covenant or Sub-Deed of Mutual Covenant or Management Agreement.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  No
  Fine

  	
   

  	
  11.12

  	
   

  	
   

  	
   

  	
  The
  Tenant acknowledges that no fine premium key money construction money or
  other consideration has been paid or will be payable by the Tenant to the
  Landlord for the grant of this tenancy.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exclusion
  of Warranties

  	
   

  	
  11.13

  	
   

  	
   

  	
   

  	
  This
  Agreement sets out the full the agreement reached between the parties and no
  other representations have been made or warranties given relating to the
  Building or the Premises.

  

 

36

 

	
  Joint
  & Several Liability

  	
   

  	
  11.14

  	
   

  	
   

  	
   

  	
  Where
  more than one person is included in the expression “the Tenant” all such
  persons shall be jointly and severally liable for the performance and
  observance of the terms, conditions and agreements contained herein and on
  the part of the Tenant to be performed and observed.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Special
  Conditions

  	
   

  	
  11.15

  	
   

  	
   

  	
   

  	
  The
  parties hereto further agree that they shall respectively be bound by and
  entitled to the benefit of the Special Conditions set out in Part IX of the
  Schedule hereto.

  

 

AS
WITNESS the hands of the parties hereto the day and year first above written.

 

37

 

THE SCHEDULE ABOVE
REFERRED TO

 

PART I

 

	
  The
  Landlord

  	
   

  	
  :

  	
   

  	
  JUGADA
  COMPANY LIMITED whose registered office is situate at 45th Floor, Sun Hung
  Kai Centre, 30 Harbour Road, Hong Kong.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  The
  Tenant

  	
   

  	
  :

  	
   

  	
  VALENCE
  TECHNOLOGY LIMITED ( [ILLEGIBLE) whose registered office is situate at Unit
  213-5 &8, Tech Center, 72 Tat Chee Avenue, Kowloon Tong, Hong Kong.

  

 

PART II

 

The Premises

 

All
Those WORKSHOP NOS.01-07 on the TWENTIETH FLOOR of APEC PLAZA, No. 49 Hoi Yuen
Road, Kwun Tong, Kowloon erected on All That piece or parcel of land registered
in the Land Registry as Kwun Tong Inland Lot No.731 which said Workshop is for
the purpose of identification only more particularly shown on the plan attached
hereto and thereon delineated and coloured Pink.

 

PART III

 

The Term

 

A
term of Three (3) years commencing on the 16th day of November 2003 and
expiring on the 15th day of November 2006.

 

PART IV

 

The Calendar Monthly Rent

 

HONG
KONG DOLLARS FORTY THREE THOUSAND FOUR HUNDRED AND THIRTY THREE ONLY
(HK$43,433.00) payable in advance on the first day of each and every calendar
month clear of all deductions exclusive of rates, management fee and central
chilled water charges.

 

38

 

PART V

 

The Management Fee
and the Central Chilled Water Charges

 

HONG
KONG DOLLARS TWENTY THOUSAND THREE HUNDRED AND EIGHTY AND CENTS TEN ONLY
(HK$20,380.10) per calendar month, payable monthly in advance on the first day
of each and every calendar month.

 

PART VI

 

The Deposit

 

HONG
KONG DOLLARS ONE HUNDRED NINETY ONE THOUSAND FOUR HUNDRED THIRTY NINE AND CENTS
THIRTY ONLY (HK$191,439.30) being the equivalent of three (3) calendar months’
rent, management fee and central chilled water charges.

 

PART VII

 

User

 

Restricted
to use for industrial use under the trading name of “Valence Technology
Limited” provided that the Tenant shall obtain all necessary licences and
approval required by any Government Authority in connection with such use and
provided that the Landlord does not warrant that the Premises are fit to be used
for such purpose or any particular purpose.

 

PART VIII

 

Legal Costs

 

The
legal costs of and incidental to the preparation execution and completion of
this Agreement shall be borne by the Landlord and the Tenant in equal shares.

 

39

 

PART IX

 

Special Conditions

 

1.                                       Rent free period

 

Notwithstanding anything to the contrary contained in this Agreement,
the Tenant shall be entitled to occupy the Premises for the following period :

 

(i)                                     from 16th November 2003 to 15th
January 2004 (both dates inclusive),

 

(ii)                                  from 16th November 2004 to 15th
January 2005 (both dates inclusive); 
and

 

(iii)                               from 16th November 2005 to 15th
December 2005 (both dates inclusive)

 

free of rent provided that during the said rent free period the Tenant
shall pay all rates, management fee and central chilled water charges and other
outgoings payable in respect of the Premises.

 

2.                                  The Landlord reserves its right of free and
uninterrupted passage egress from and ingress to the common services of the
Building in or under above or through the Premises.  In particular, but without affecting the generality of the
aforesaid, the Landlord shall have the right to install, affix, erect or permit
to be installed, affixed or erected any aerial, transmitter or other
telecommunication cable wiring or equipment on or above the false ceiling or
otherwise over or under the Premises and the Tenant shall permit the Landlord
or its authorized agent or contractor to enter the Premises to install affix
erect maintain or repair such aerial transmitter cable wiring or equipment at
all reasonable time upon prior appointment and shall not remove, alter or
otherwise cause damage to such aerial transmitter cable wiring or equipment at
the Premises and shall indemnify the Landlord against all claims demands
actions proceeding loss or damages costs and expenses arising from the breach
of this provision by the Tenant.

 

40

 

	
  SIGNED by

  	
  Wong
  Chin Wah

  	
  )

  	
   

  
	
   

  	
   

  	
  )

  	
  For
  and on behalf of

  
	
   

  	
   

  	
  )

  	
  JUGADA    COMPANY   LIMITED

  
	
   

  	
   

  	
  )

  	
   

  
	
  for
  and on behalf of Jugada Company

  	
  )

  	
  /s/ Wong Chin Wah

  	
   

  
	
   

  	
  )

  	
  Authorised Signature(s)

  	
   

  
	
  Limited
  whose signature is verified by:-

  	
  )

  	
   

  

 

 

	
   

  	
  /s/ Majestic Sin Yeung

  	
   

  
	
   

  	
  Majestic
  Sin Yeung

  
	
   

  	
  Johnson
  Stokes & Master

  Solicitor, Hong Kong SAR

  

 

 

	
  SIGNED by

  	
  CHOI
  Yat Ming

  	
  )

  	
  For and on behalf of

  
	
   

  	
   

  	
  )

  	
  VALENCE
  TECHNOLOGY LIMITED

  
	
   

  	
   

  	
  )

  	
  [ILLEGIBLE]

  
	
   

  	
   

  	
  )

  	
   

  
	
  for
  and on behalf of the Tenant in the

  	
  )

  	
  /s/ CHOI Yat Ming

  	
   

  
	
   

  	
  )

  	
  Authorized
  Signature(s)

  	
   

  
	
  presence
  of:-

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/
  CHAM Tze Kwong Reivlin

  	
   

  	
   

  	
   

  
	
   

  	
  CHAM
  Tze Kwong Reivlin

  	
   

  	
   

  
	
   

  	
  HKID
  No. E849223(2)

  	
   

  	
   

  
								

 

41

 

	
  RECEIVED
  on or before the day and year first above 

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  
	
  written
  of and from the Tenant the above mentioned

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  
	
  deposit
  of HONG KONG DOLLARS ONE

  	
  )

  	
   

  	
  HK$191,439.30

  	
   

  
	
   

  	
  )

  	
   

  
	
  HUNDRED
  NINETY ONE THOUSAND FOUR

  	
  )

  	
   

  
	
   

  	
   

  	
  For
  and on behalf of

  
	
  HUNDRED
  AND THIRTY NINE AND CENTS

  	
   

  	
  JUGADA
  COMPANY LIMITED

  
	
   

  	
   

  	
   

  
	
  THIRTY
  ONLY.

  	
   

  	
  /s/
  Wong Chin Wah

  	
   

  
	
   

  	
   

  	
  Authorised Signature(s)

  	
   

  
	
   

  	
   

  	
   

  
	
  Signature
  verified by :-

  	
   

  	
   

  
						

 

	
   

  	
  /s/ Majestic Sin Yeung

  	
   

  
	
   

  	
  Majestic
  Sin Yeung

  
	
   

  	
  Johnson
  Stokes & Master

  Solicitor, Hong Kong SAR

  

 

42

 

APEC PLAZA

 

 

 

	
   

  	
  [SEAL]

  	
  20th Floor Plan

  	
   

  

 

 

Identification Only

To
Scale

 

43Exhibit 10.21

 

	
   

  	
  Dated the 22nd day of December 2003

  	
   

  

 

 

JUGADA COMPANY LIMITED

(as Landlord)

 

AND

 

VALENCE SEMICONDUCTOR DESIGN
LIMITED

(as Tenant)

 

 

TENANCY AGREEMENT

 

of

 

	
  Workshop No.01-10 on the
  19th Floor of APEC Plaza, No.49 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong

  
	
   

  	
   

  	
   

  
	
  Term:

  	
   

  	
  A term of Three (3) years
  from 16th November 2003 to 15th November 2006

  
	
   

  	
   

  	
   

  
	
  Rental:

  	
   

  	
  HK$64,467.00 per month
  exclusive of rates, management fee and central chilled water charges

  
	
   

  	
   

  	
   

  
	
  Deposit:

  	
   

  	
  HK$284,150.70

  

 

 

JOHNSON STOKES & MASTER,

 

SOLICITORS, & C.,

 

HONG KONG SAR.

 

[ILLEGIBLE]

 

 

SECTION I

 

AGREEMENT

 

	
  Parties

  	
   

  	
  AN AGREEMENT made this 22nd
  day of December Two Thousand and Three

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BETWEEN (i) the Company
  detailed as the Landlord in Part I of the Schedule hereto (hereinafter called
  “the Landlord” which expression shall include its successors and assigns) of
  the one part and (ii) the person firm or company detailed as the Tenant in
  Part I of the Schedule hereto (hereinafter called “the Tenant” which
  expression shall include its successors and permitted assigns) of the other
  part.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  WHEREBY IT IS AGREED as
  follows :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  1.

  	
   

  	
   

  	
   

  	
  Agreement :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Premises

  	
   

  	
  1.01

  	
   

  	
   

  	
   

  	
  The Landlord shall let and
  the Tenant shall take ALL THOSE the premises (hereinafter referred to as “the
  Premises”) forming part of the building now known as APEC Plaza, No.49 Hoi
  Yuen Road, Kwun Tong, Kowloon, Hong Kong (hereinafter referred to as “the
  Building”) erected on All That piece or parcel of land registered in the Land
  Registry as Kwun Tong Inland Lot No.731 which said Premises are more
  particularly described and set out in Part II of the Schedule attached hereto
  Together with the use in common with the Landlord and all others having the
  like right of the entrances staircases landings passages and public toilets
  in the Building in so far as the same are necessary for the proper use and
  enjoyment of the Premises and except in so far as the Landlord may from time
  to time restrict such use And together with the use in common as aforesaid of
  the escalators and air cooling services in the Building (if any and whenever
  the same shall be operating) for the term set forth in Part III of the
  Schedule hereto (hereinafter “the Term”) YIELDING AND PAYING

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
  TermRent and other

  
	
   

  
	
   

  

[SEAL]

 

1

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  therefor throughout the
  Term such rent and other charges as are from time to time payable or
  ascertainable in accordance with the provisions set out in Part IV and Part V
  of the Schedule hereto and in this Agreement (all of which payments are
  unless the context otherwise requires or provides hereinafter included in the
  term “the Rent”) which sums shall be payable exclusive of rates and other
  outgoings and in advance clear of all deductions on the first day of each
  calendar month the first and last of such payments to be apportioned
  according to the number of days in the month included in the Term.  The Tenant agrees to use the Premises only
  for the purpose set forth in Part VII of the Schedule hereto and not for any
  other purpose and in the event that the user of the Premises designated in
  Part VII of the Schedule hereto shall specify the sale or supply thereat of
  any particular class or kind of goods or services the Tenant shall not use
  the Premises for the sale or provision of any other class or kind of goods
  services or other purpose whatsoever without the express permission of the
  Landlord in writing.

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
  User

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
  SECTION
  II

  
	
   

  
	
  RENT
  AND OTHER CHARGES

  
	
   

  
	
   

  	
   

  	
  2.

  	
   

  	
   

  	
   

  	
  The Tenant agrees with the
  Landlord as follows :-

  
	
  Rent

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  2.01

  	
   

  	
   

  	
   

  	
  To pay throughout the Term
  on the days and in the manner hereinbefore provided for payment thereof and
  in banknotes if so required by the Landlord such calendar monthly rent as is
  payable in accordance with the provisions of Part IV of the Schedule hereto;

  

 

2

 

	
  Management fee and central
  chilled water charges

  	
   

  	
  2.02

  	
   

  	
   

  	
   

  	
  To pay on the days and in
  the manner hereinbefore provided the management fee and central chilled water
  charges as respectively set forth in Part V of the Schedule for the provision
  of management services for the Premises and for the supply of chilled water
  for use by the Tenant in connection with its air-conditioning installation
  Provided always that the rate of the said management fee and central chilled
  water charges shall be subject to review by the Manager of the Building in
  accordance with the provisions in the Deed of Mutual Covenant and Management
  Agreement relating to the Building. 
  The Manager’s determination of the new rate of the said management fee
  and central chilled water charges shall (save In the case of manifest error)
  be conclusive.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  All running, operating,
  maintenance, cleaning and repair costs associated with the use of fan coil
  units or other air handling plant installed at the Premises will be borne by
  the Tenant in addition to the management fee and central chilled water
  charges. The electric power for such fan coil units or other air handling
  plant installed within or exclusively for the Premises shall be connected to
  the Tenant’s electricity supply meter and the Tenant shall pay direct to the
  supply authority or contractor for the electric power thereby consumed.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Rates

  	
   

  	
  2.03

  	
   

  	
   

  	
   

  	
  To pay and discharge all
  rates taxes assessments duties impositions charges and outgoings of an annual
  or recurring nature now or hereafter to be imposed or levied on the Premises
  or upon the owner or occupier in respect thereof by the Government of the
  Hong Kong Special Administrative Region of the People’s Republic of China or
  other lawful authority (Government Rent and Property Tax alone excepted).
  Without prejudice to the generality of this clause the

  

 

3

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Tenant shall within 15
  days from the date of receiving a demand in writing for the same either from
  the Landlord or from the Government of the Hong Kong Special Administrative
  Region of the People’s Republic of China pay all rates imposed on the
  Premises in the first place to the Landlord who shall settle the same with the
  Government of the Hong Kong Special Administrative Region of the People’s
  Republic of China. In the event of the rates imposed not being individually
  assessed in respect of the Premises, the Tenant shall pay a part thereof in
  the same proportion as the gross floor area of the Premises bears to the
  gross floor area of the Building or part thereof so assessed, and in the
  event of the Premises not yet having been assessed to rates, the Tenant shall
  on the signing hereof and before it shall be entitled to possession of the
  Premises at the commencement of the Term and thereafter on each of the usual
  quarter days until the rates have been so assessed pay to the Landlord on
  account of the Tenant’s liability under this Clause a sum equal to the rates
  for that quarter (or a proportionate part thereof) which would be charged by
  the Government of the Hong Kong Special Administrative Region of the People’s
  Republic of China on the basis of a rateable value equal to twelve months’
  rent payable by the Tenant (such estimated rates to be paid on monthly basis
  in advance); Provided that upon assessment by the Government of the Hong Kong
  Special Administrative Region of the People’s Republic of China of the rates
  payable in respect of the Premises, the total amount paid by the Tenant to
  the Landlord shall be adjusted accordingly and any surplus shall be refunded
  by the Landlord and any deficiency shall be made good by the Tenant.

  

 

4

 

	
  Utility Charges &
  Deposits

  	
   

  	
  2.04

  	
   

  	
   

  	
   

  	
  To pay and discharge all
  deposits and charges in respect of gas water electricity air-conditioning and
  telephone as may be shown by or operated from the Tenants own metered supply
  or by accounts rendered to the Tenant in respect of all such utilities
  consumed on or in the Premises.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION
  III

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TENANT’S
  OBLIGATIONS

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  3.

  	
  The
  Tenant hereby covenants undertakes and agrees with the 

  
	
   

  	
   

  	
   

  	
  Landlord
  as follows :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Compliance with Ordinances

  	
   

  	
  3.01

  	
   

  	
   

  	
   

  	
  To obey observe and comply
  with and to indemnify the Landlord against the breach of all ordinances,
  regulations, by-laws, rules and requirements of any Governmental or other
  competent authority relating to the use and occupation of the Premises, or to
  any other act, deed, matter or thing done, permitted, suffered or omitted
  therein or thereon by the Tenant or any employee, agent or licensee of the
  Tenant and without prejudice to the foregoing to obtain any licence approval
  or permit required by any Governmental or other competent authority in connection
  with the Tenant’s use or occupation of the Premises prior to the commencement
  of the Tenant’s business and to maintain the same in force and in all
  respects comply with the terms thereof during the currency of this tenancy
  and to indemnify the Landlord against the consequences of any breach of this
  provision;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Fitting Out the Interior
  of the Premises

  	
   

  	
  3.02

  	
   

  	
  (a)

  	
   

  	
  To fit out the interior of
  the Premises in accordance with such Premises plans and specifications
  including but not limited to electrical and mechanical layout, P & D
  design, etc. as shall have been first submitted by the Tenant to and approved
  in writing by the Landlord in a good and

  
								

 

5

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  proper workmanlike
  fashion.  Such fitting out works must
  not be commenced before such plans and specifications have been approved by
  the Landlord.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (b)

  	
   

  	
  The Tenant shall pay to
  the Landlord on demand all mechanical, engineering and structural engineering
  consultant’s fees incurred by the Landlord in connection with the
  consideration and approval of the Tenant’s Plans or any modifications or
  amendments thereof.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Installation of Telephone
  Cables

  	
   

  	
  3.03

  	
   

  	
   

  	
   

  	
  To make its own
  arrangements with regard to the installation of telephones or other
  communications systems within the Premises, but the installation of telephone
  and communications lines outside the Premises must be in the common ducting
  provided for that purpose and in all respects be in accordance with the
  Landlord’s directions;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Good Repair of Interior

  	
   

  	
  3.04

  	
   

  	
   

  	
   

  	
  To keep all the interior
  part of the Premises including the flooring and interior plaster or other
  finishing material or rendering to walls floors and ceilings and the
  shopfront external grilles or shutters to the Premises and the Landlord’s
  fixtures and fittings therein and all additions (whether of the Landlord or
  the Tenant) thereto including (without limitation and wherever the same shall
  be installed in or upon the Premises) all escalators doors windows electrical
  installations and wiring light fittings suspended ceiling fire fighting
  apparatus and air-conditioning plant and ducting exhaust ducts, scrubber and
  carbon filters, grease traps and all pipes plumbing and drainage facilities
  and all painting, papering and decoration thereof in good clean tenantable
  substantial and proper repair and condition and as may be appropriate from
  time to time properly painted and decorated cleansed cleared or

  

 

6

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  replaced and so to
  maintain the same at the expense of the Tenant and to deliver up the same and
  all fittings, fixtures and additions therein and thereto other than tenant’s
  fixtures and fittings to the Landlord at the expiration or sooner
  determination of the said term in like condition and without prejudice to the
  generality of the foregoing during the last year of the term hereby reserved
  if reasonably required by the Landlord to repaint and decorate the interior
  of the Premises;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Cleaning of Grease Trap

  	
   

  	
  3.05

  	
   

  	
   

  	
   

  	
  To clean and clear every
  grease trap (if any, and whether within or outside the Premises) serving the
  Premises or used by the Tenant as often as is necessary to ensure the free,
  uninterrupted and efficient working of the drainage and sewage facilities
  serving the Building. The Landlord shall be entitled from time to time to
  require the Tenant to do such cleaning and clearing at such regular intervals
  as may be prescribed by the Landlord. If default shall be made by the Tenant
  in fulfilling its obligations under this Clause the Landlord shall be
  entitled to do such cleaning and clearing, entering the Premises whenever
  necessary and the cost thereof shall be a debt due from the Tenant to the
  Landlord and be recoverable forthwith by action;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Installation of wires
  cables and services

  	
   

  	
  3.06

  	
   

  	
   

  	
   

  	
  To install all wires pipes
  and cables and other services serving the Premises in and through the ducts
  trunkings and conduits in the Building provided by the Landlord for such
  purposes and at all times in accordance with the Landlord’s directions and
  not to install any such wires pipes cables or other services without first
  providing the Landlord with full particulars and a fully detailed plan and
  diagram of such intended installation and obtaining the Landlord’s consent in
  regard thereto.

  

 

7

 

	
  Replacement of Windows

  	
   

  	
  3.07

  	
   

  	
   

  	
   

  	
  To pay to or reimburse the
  Landlord the cost of replacing all broken or damaged windows or shopfront
  glass whether the same be broken or damaged by the negligence of the Tenant
  or owing to circumstances beyond the control of the Tenant;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Repair of Electrical
  Installations

  	
   

  	
  3.08

  	
   

  	
   

  	
   

  	
  To repair or replace as so
  required by the appropriate utility company or authority under the terms of
  the Electricity Supply Ordinance or any statutory modification or
  re-enactment thereof or Regulations made thereunder by duly authorised
  contractor, statutory undertaker or authority as the case may be all the
  electricity wiring installations and fittings within the Premises and the
  wiring from the Tenant’s meter or meters to and within the same;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Good Repair of Toilets
  & Water Apparatus

  	
   

  	
  3.09

  	
   

  	
   

  	
   

  	
  At the expense of the
  Tenant to maintain all toilets and sanitary and water apparatus as are
  located within the Premises (or elsewhere if used exclusively by the Tenant
  its employees invitees and licensees) in good clean and tenantable state and
  in proper repair and condition at all times during the said Term to the
  satisfaction of the Landlord and in accordance with the Regulations of the
  Public Health or Government Authority concerned;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Cleaning & Cleaning
  Contractors

  	
   

  	
  3.10

  	
   

  	
   

  	
   

  	
  To keep the Premises
  including all external windows lights and shopfront glass at all times in a
  clean and sanitary state and condition, and for the better observance hereof
  the Tenant shall only employ as cleaners of the Premises such persons or
  firms as shall be nominated by the Landlord. Such Cleaners shall be employed
  at the expense of the Tenant;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Cleaning of Drains

  	
   

  	
  3.11

  	
   

  	
   

  	
   

  	
  To pay on demand to the
  Landlord the cost properly incurred by the Landlord in cleansing and clearing
  any of the drains

  

 

8

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  choked or stopped up owing
  to improper or careless use by the Tenant or his employees invitees or
  licensees;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  To Permit Landlord To
  Enter & View

  	
   

  	
  3.12

  	
   

  	
   

  	
   

  	
  To permit the Landlord its
  agents and all persons authorised by it with or without workmen or others and
  with or without appliances at all reasonable times to enter upon the Premises
  to view the condition thereof and upon prior notice to the Tenant to take
  inventories of the fixtures and fittings therein and to carry out any work or
  repair required to be done provided that in the event of an emergency the Landlord
  its servants or agents may enter without notice and forcibly if need be;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  To Execute Repair on
  Receipt of Notice

  	
   

  	
  3.13

  	
   

  	
   

  	
   

  	
  To make good all defects
  and wants of repair to the Premises for which the Tenant may be liable within
  the space of one month from the receipt of written notice from the Landlord
  to repair amend and make good the same, and if the Tenant shall fail to
  execute such works or repairs as aforementioned to permit the Landlord to
  enter upon the Premises and execute the same and the cost thereof shall be a
  debt due from the Tenant to the Landlord and be recoverable forthwith by
  action;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Inform Landlord of Damage

  	
   

  	
  3.14

  	
   

  	
   

  	
   

  	
  To give prompt notice to
  the Landlord or its agent of any damage that may be suffered to the Premises
  and of any accident to or defects in the water and gas pipes (if any)
  electrical wiring or fittings, fixtures or other services or facilities
  within the Premises;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Protection from Typhoon

  	
   

  	
  3.15

  	
   

  	
   

  	
   

  	
  To take all necessary and
  appropriate precautions to protect the interior of the Premises from storm or
  typhoon damage;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Indemnification of
  Landlord

  	
   

  	
  3.16

  	
   

  	
   

  	
   

  	
  To be wholly responsible
  for any loss damage or injury caused to any person whomsoever or to any
  property whatsoever directly or indirectly through the defective

  

 

9

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  or damaged condition or
  operation of any part of the interior of the Premises or any machinery or
  plant or any fixtures or fittings or wiring or piping therein for the repair
  of which the Tenant is responsible hereunder or in any way caused by or owing
  to the spread of fire smoke or fumes or the leakage or overflow of water of
  whatsoever origin from the Premises or any part thereof or through the act
  default or neglect of the Tenant his servants agents contractors licensees
  partners or customers and to make good the same by payment or otherwise and
  to indemnify the Landlord against all costs claims demands actions and legal
  proceedings whatsoever made upon the Landlord by any person in respect of any
  such loss damage or injury as aforesaid and all costs and expenses incidental
  thereto;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Air-conditioning of
  Premises

  	
   

  	
  3.17

  	
   

  	
   

  	
   

  	
  Where any plant machinery
  or equipment for cooling or circulating air is installed in or about the Premises
  (whether by the Landlord or the Tenant) the Tenant will to the extent of the
  Tenant’s control over the same at all times use and regulate the same to
  ensure that the air-conditioning plant is employed to best advantage in the
  conditions from time to prevailing and without prejudice to the generality of
  the foregoing will operate and maintain such plant within the Premises as the
  Landlord may reasonably determine to ensure a reasonably uniform standard of
  air cooling or conditioning throughout the Building;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Refuse & Garbage
  Removal

  	
   

  	
  3.18

  	
   

  	
   

  	
   

  	
  To be responsible for the
  removal of refuse and garbage from the Premises to such location as shall be
  specified by the Landlord from time to time and to use only that type of
  refuse container as is specified by the Landlord from time to time. In the
  event of the Landlord providing a collection service for refuse and garbage
  the same shall be used by the Tenant to the exclusion of any other similar
  service and the use of

  

 

10

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  such service provided by
  the Landlord shall be at the sole cost of the Tenant;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Service Entrances

  	
   

  	
  3.19

  	
   

  	
   

  	
   

  	
  To load and unload goods
  only at such times and through such entrances and by such service lifts (if
  any) as shall be designated by the Landlord for this purpose from time to
  time;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Common Areas

  	
   

  	
  3.20

  	
   

  	
   

  	
   

  	
  To pay to or reimburse to
  the Landlord the cost of repairing any damage caused to any part of the
  common areas of the Building occasioned by the Tenant his licensees employees
  agents or contractors or any other person claiming through or under the
  Tenant;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Contractors Employees
  Invitees & Licensees

  	
   

  	
  3.21

  	
   

  	
   

  	
   

  	
  To be liable for any act
  default negligence or omission of the Tenant’s contractors, employees invitees
  or licensees as if it were the act default negligence or omission of the
  Tenant and to indemnify the Landlord against all cost claims demands expenses
  or liability to any third party in connection therewith;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Directory Boards

  	
   

  	
  3.22

  	
   

  	
   

  	
   

  	
  To pay the Landlord
  immediately upon demand the cost of affixing repairing or replacing as
  necessary the Tenant’s name in lettering to the directory boards at the
  Building;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Regulations

  	
   

  	
  3.23

  	
   

  	
   

  	
   

  	
  To obey and comply with
  such Regulations as may from time to time be made or adopted by the Landlord
  in accordance with Section X hereof;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Security System

  	
   

  	
  3.24

  	
   

  	
   

  	
   

  	
  To ensure that its own
  security system within and at the entrance of the Premises is at all times
  compatible with and linked up to the security system for the Building
  provided and operated by the Landlord (if any);

  

 

11

 

	
  Yield Up Premises &
  Handover

  	
   

  	
  3.25

  	
   

  	
   

  	
   

  	
  To yield up the Premises
  with all fixtures fittings and additions therein and thereto at the
  expiration or sooner determination of this Agreement in good clean and
  tenantable repair and condition in accordance with the stipulations
  hereinbefore contained together with all keys giving access to all parts of
  the Premises Provided That

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (a)

  	
   

  	
  Where a suspended ceiling
  system (the “Suspended Ceiling System”) had been installed at the Premises
  (whether by the Landlord or was present either at the commencement of the
  Term or when the Tenant took possession of the Premises) the Tenant shall at
  its own cost reinstate repair and make good all damage caused to the
  Suspended Ceiling System to the satisfaction of the Landlord before
  delivering up possession of the Premises to the Landlord;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (b)

  	
   

  	
  (i)

  	
   

  	
  Where there are any
  installations, additions, alterations, fittings and fixtures upon or in the
  Premises whether the same have been made or installed prior to or after the
  commencement of the Term; or

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (ii)

  	
   

  	
  Where the Tenant has made
  any alterations or installed any fixtures fittings or additions in or to the
  Premises and notwithstanding that the Landlord’s consent for so doing may
  have been obtained or have been given or be deemed to have been given

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  the Landlord may at its
  sole discretion require the Tenant at the Tenant’s sole cost and expense to
  reinstate or remove or do away with all or any such installations, additions,
  alterations, fittings or fixtures or any part or portion thereof and to make
  good and repair in a proper and workmanlike manner any damage to the

  

 

12

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Premises and the
  Landlord’s fixtures and fittings therein caused by such removal or
  reinstatement and deliver up the Premises to the Landlord in a “bare shell”
  condition to the satisfaction of the Landlord.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION
  IV

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  LANDLORD’S
  OBLIGATIONS

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  4.

  	
   

  	
   

  	
   

  	
  The Landlord agrees with
  the Tenant as follows :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Quiet Enjoyment

  	
   

  	
  4.01

  	
   

  	
   

  	
   

  	
  To permit the Tenant duly
  paying the Rent rates and other charges and the service charge hereby agreed
  to be paid on the days and in manner herein provided for .payment of the same
  and observing and performing the agreements stipulations terms conditions and
  obligations herein contained to have quiet possession and enjoyment of the
  Premises during the said term without any interruption by the Landlord or any
  person lawfully claiming under or through or in trust for the Landlord;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Government Rent

  	
   

  	
  4.02

  	
   

  	
   

  	
   

  	
  To pay the Government Rent
  and Property Tax attributable to or payable in respect of the Premises;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Air-conditioning

  	
   

  	
  4.03

  	
   

  	
   

  	
   

  	
  To use reasonable
  endeavours to maintain the escalators, fire services equipment, security
  installations and air-conditioning plant and water chilling apparatus and
  other services provided within the Building not within the Premises in proper
  working order and condition;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Chilled Water Supply

  	
   

  	
  4.04

  	
   

  	
  (a)

  	
   

  	
  Subject to Section VI
  Sub-clause 6.01(i) hereof to provide a supply of chilled water to the
  Premises for the purposes of the Tenant’s air-conditioning during the normal
  business hours to be decided by the Manager of the Building whose decision
  shall be final and conclusive;

  

 

13

 

	
   

  	
   

  	
   

  	
   

  	
  (b)

  	
   

  	
  Subject to Section VI
  Sub-clause 6.01 (i) hereof the Landlord shall, at the absolute discretion of
  the Landlord, supply the Tenant with a supply of chilled water to the
  Premises for the purposes of the Tenant’s air-conditioning during hours
  outside the normal business hours upon request being made by the Tenant to the
  Landlord.  The cost for such
  additional hours of chilled water supply from time to time shall be
  determined by the Landlord or the building manager whose decision shall be
  final and notified to the Tenant from time to time and shall be paid by the
  Tenant to the Landlord with the rent and other charges payable under this
  Tenancy Agreement and shall be recoverable by the Landlord as part of the
  air-conditioning and management charges hereunder.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Obligation Where Landlord
  not owner of Whole Building

  	
   

  	
  4.05

  	
   

  	
   

  	
   

  	
  In the event that the
  Landlord is not the owner of the whole of the Building, the obligations of
  the Landlord under Section IV Sub- Clauses 4.03 and 4.04 hereof shall be
  deemed to have been modified so that the Landlord shall only be under an obligation
  to use reasonable endeavours to procure that the manager appointed under the
  Deed of Mutual Covenant or any Sub- Deed of Mutual Covenant affecting the
  Building or the incorporated owners of the Building shall do the things
  referred to in such Sub-Clauses to the extent that they are within the power
  and duty of the manager or incorporated owners and the Landlord shall not be
  liable to the Tenant or any other person for the failure on the part of the
  manager or incorporated owners to do any such things.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Rights Reserved to the
  Landlord

  	
   

  	
  4.06

  	
   

  	
   

  	
   

  	
  It is hereby agreed and
  expressly confirmed that the following rights are excepted and reserved to
  the Landlord (its successors and assigns and all persons having the like
  right) throughout the said Term :-

  

 

14

 

	
   

  	
   

  	
   

  	
   

  	
  (a)

  	
   

  	
  the right of free and
  uninterrupted passage and running of water, soil, gas, drainage, electricity
  and all other services or supplies through such sewers, watercourses,
  conduits, pipes, wires, cables and ducts as are now or may hereafter be in,
  on or under the Premises and serving or capable of serving the Building or
  any adjoining or neighbouring property TOGETHER WITH the right to enter upon
  the Premises to inspect repair replace or maintain any such sewers,
  watercourses, conduits, pipes, wires, cables and ducts Provided That in the
  exercise of this latter right the Landlord shall cause as little damage or
  inconvenience to the Tenant as possible and forthwith make good any damage
  caused;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (b)

  	
   

  	
  the full and free right
  and liberty to enter upon the Premises in the circumstances in which the
  covenants by the Tenant contained in these presents permit such entry and in
  particular but without prejudice to the generality of the foregoing the right
  to enter into and upon the Premises at all times for the purpose of obtaining
  access to and egress from any machinery or switch rooms or the like remaining
  under the control of the Landlord and located on any of the floors of the
  Building on which any portion of the Premises is situated;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (c)

  	
   

  	
  the right from time to
  time on giving reasonable notice to the Tenant (such notice not to be
  required in case of emergency or breakdown) and causing as little
  inconvenience to the Tenant as

  

 

15

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  reasonably possible to
  suspend the air-conditioning system, lifts, escalators, electric power, water
  supply and any other building service provided in or serving the Building for
  the purpose of servicing, maintaining, repairing, renewing, improving or
  replacing the same and any of them;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (d)

  	
   

  	
  the right from time to
  time and without the necessity of joining the Tenant or any other person to
  enter into such Deed of Mutual Covenant or Sub-Deed of Mutual Covenant or
  Management Agreement affecting the Building or any part thereof as the
  Landlord shall deem appropriate.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION
  V

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  RESTRICTIONS
  AND PROHIBITIONS

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  5.

  	
   

  	
   

  	
   

  	
  The Tenant hereby agrees
  with the Landlord as follows :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Installation &
  Alterations

  	
   

  	
  5.01

  	
   

  	
  (a)

  	
   

  	
  Not without the previous
  written consent of the Landlord to erect install or alter any fixtures
  partitioning or other erection or installation in the Premises or to make
  suffer or permit to be made any alterations or additions to the electrical
  wiring installation air-conditioning plant or ducting (if any) and lighting
  fixtures or any part thereof or other Landlord’s fixtures nor without the
  like consent to install or permit or suffer to be installed any plant
  equipment apparatus or machinery including any safe or other object which
  imposes a weight on any part of the flooring in excess of that for which it
  was designed. The Landlord shall be entitled to prescribe the maximum weight
  and permitted location of safes and other heavy equipment and to require that
  the same stand on supports of such

  

 

16

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  dimensions and material to
  distribute the weight as the Landlord may deem necessary. All reasonable and proper
  fees incurred by the Landlord in obtaining the approval of its architects to
  the location of heavy objects shall be borne by the Tenant and payment
  therefor may be imposed as a pre-requisite to the Tenant receiving such
  consent;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (b)

  	
   

  	
  Not to install any
  air-conditioning plant or equipment of any kind on or within or at any part
  of the Premises without the prior consent of the Landlord in writing AND the
  Tenant shall comply with the directions and instructions of the Landlord
  regarding installation and shall at its own expense be responsible for their
  periodic inspection maintenance and repair and for the replacement of
  defective wiring and the Tenant shall be strictly liable for any damage
  caused by the installation operation defect or removal of such units;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (c)

  	
   

  	
  Not to make or permit or
  suffer to be made any alterations in or additions to the mechanical or
  electrical installations in the Building nor to install or permit or suffer
  to be installed any equipment, apparatus or machinery which exceeds the
  loading of the electrical installations in the Building nor to install or
  permit or suffer to be installed any equipment, apparatus or machinery which
  exceeds the loading of the electrical main or wiring or which consumes electricity
  not metered through the Tenant’s separate meter;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (d)

  	
   

  	
  Not to make or permit or
  suffer to be made any alterations to any installation or fixture so as to
  affect or be likely to affect the supply of water, electricity or other
  utility or service to or in the Building;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (e)

  	
   

  	
  In carrying out any
  approved work hereunder the Tenant its servants agents contractors and
  workmen shall obey and

  

 

17

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  comply with all reasonable
  instructions and directions which may be given by the Landlord, its Project
  Manager or other authorised representatives in connection with the carrying
  out of such work;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (f)

  	
   

  	
  Any fees or expenses
  incurred by the Landlord in connection with the giving of consents hereunder
  shall be borne by the Tenant;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Injury to Main Walls

  	
   

  	
  5.02

  	
   

  	
   

  	
   

  	
  Not without the previous
  written consent of the Landlord to cut maim or injure or permit or suffer to
  be cut maimed or injured any doors windows walls beams structural members or
  other part of the fabric of the Premises;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Alterations to Exterior

  	
   

  	
  5.03

  	
   

  	
   

  	
   

  	
  Not to affix anything or
  paint or make any alteration whatsoever to the exterior of the Premises save
  as provided in Section V Clause 5.07 hereof;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Obstructions to Outside
  Windows

  	
   

  	
  5.04

  	
   

  	
   

  	
   

  	
  Not to block up darken or
  obstruct or obscure any shop front window or any other window or lights
  belonging to the Premises without having obtained the express written consent
  of the Landlord which consent may be given subject to such conditions as the
  Landlord may in its absolute discretion consider fit to impose;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Not to erect gates or
  grilles

  	
   

  	
  5.05

  	
   

  	
   

  	
   

  	
  Not without the prior
  written consent of the Landlord to erect or install doors, gates, metal
  grilles, shutters or other similar installation whatsoever whether temporary
  or permanent at the doorway or entrance to the Premises or at any of the fire
  exits therefrom or erect any such doors or metal grille or shutter or gate
  that might in any way contravene the regulations from time to time in force
  of the Fire Services Department or other competent authority concerned, nor
  in any other respect to contravene the said regulations;

  

 

18

 

	
  Noise

  	
   

  	
  5.06

  	
   

  	
   

  	
   

  	
  Not to cause or produce or
  suffer or permit to be produced on or in the Premises any sound or noise
  (including sound produced by broadcasting from Rediffusion, Television, Radio
  and any apparatus or instrument capable of producing or reproducing music and
  sound) or any vibration or resonance or other form of disturbance or other
  acts or things in or on the Premises which is or are or may be a nuisance to
  the tenants or occupiers of adjacent or neighbouring premises or to users and
  customers of the same or to the Landlord and in the event of the Tenant’s
  permitted business use of the Premises as defined in Part VII of the Schedule
  hereto requiring any sound or noise to be produced or reproduced within the
  Premises or any part thereof to install and maintain to the satisfaction of
  the Landlord appropriate and adequate sound absorbing and insulating material
  so as to prevent such sound or noise from escaping from the Premises and from
  becoming a nuisance or annoyance to other tenants or occupiers of the
  Building or any part thereof or any adjoining or adjacent premises.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Signs

  	
   

  	
  5.07

  	
   

  	
   

  	
   

  	
  Save as permitted pursuant
  to Clause 3.22 hereof not to exhibit or display on or affix to the exterior
  of the Premises or on the interior face of the curtain wall and window of the
  Premises any writing sign signboard or other device whether illuminated or
  not nor to affix any writing sign signboard or other device in at or above
  any common area lobby landing or corridor of the Building.  Provided always that the Tenant shall be
  entitled to have its name and business displayed in lettering and/or
  characters to a design and standard of workmanship approved by the landlord
  (which approval shall not be unreasonably withheld) on a signboard upon the
  front of the Premises.

  

 

19

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  If the Tenant carries on
  business under a name other than its own name it shall be entitled to have
  that name displayed aforesaid but the Tenant shall not be entitled to change
  the business name without the previous written consent of the Landlord (which
  consent shall not be unreasonably withheld) and without prejudice to the
  foregoing the Landlord may in connection with any application for consent
  under this clause require the Tenant to produce such evidence as it shall think
  fit to show that no breach of Section V Clause 5.21 hereof has taken place or
  is about to take place;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Auction & Sales

  	
   

  	
  5.08

  	
   

  	
   

  	
   

  	
  Not to conduct or permit
  any auction fire bankruptcy close-out or similar sale of things or properties
  of any kind to take place on the Premises Provided that this provision shall
  not preclude the conduct of genuine periodic seasonal or promotional sales
  where the permitted user of the Premises includes shop or retail uses;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Illegal Immoral or
  Improper Use

  	
   

  	
  5.09

  	
   

  	
   

  	
   

  	
  Not to use or cause permit
  or suffer to be used any part of the Premises for gambling or for any illegal
  immoral or improper purposes or in any way so as to cause nuisance or
  annoyance inconvenience or damage or danger to the Landlord or the tenants or
  occupiers of adjacent or neighbouring Premises;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  No Touting

  	
   

  	
  5.10

  	
   

  	
   

  	
   

  	
  Not to tout or solicit or
  procure or permit any touting or soliciting for business or the distribution
  of any pamphlets notices or advertising matter outside the Premises or anywhere
  within the Building by any of the Tenant’s servants agents or licensees;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sleeping or Domestic Use

  	
   

  	
  5.11

  	
   

  	
   

  	
   

  	
  Not to use the Premises or
  any part thereof as sleeping quarters or as domestic premises within the
  meaning of any ordinance for the time being in force or to allow any person
  to remain on the Premises

  

 

20

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  overnight unless with the
  Landlord’s prior permission in writing;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Storage of dangerous goods

  	
   

  	
  5.12

  	
   

  	
   

  	
   

  	
  Not to keep or store or
  cause or permit or suffer to be kept or stored any extra hazardous or
  dangerous goods within the meaning of the Dangerous Goods Ordinance and the
  regulations thereunder or any Statutory modification or re-enactment thereof;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  User

  	
   

  	
  5.13

  	
   

  	
   

  	
   

  	
  Not to use the Premises
  for any purpose other than the purpose specified in Part VII of the Schedule
  hereto;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Obstructions in Passages

  	
   

  	
  5.14

  	
   

  	
   

  	
   

  	
  Not to place or leave or
  suffer or permit to be placed or left by any contractor employee invitee or
  licensee of the Tenant any boxes furniture articles or rubbish in the
  entrances or any of the staircases passages or landings of the Building used
  in common with other tenants or the Landlord or otherwise encumber the same;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Parking & Loading

  	
   

  	
  5.15

  	
   

  	
   

  	
   

  	
  Not to park in obstruct or
  otherwise use nor permit to be parked in obstructed or otherwise used by any
  employee agent or licensee of the Tenant those areas of the Building
  allocated to parking the movement of or access for vehicles or designated as
  loading/unloading areas other than in accordance with the Regulations made
  from time to time by the Landlord;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Goods & Merchandise
  Outside the Premises

  	
   

  	
  5.16

  	
   

  	
   

  	
   

  	
  Not to place expose or
  leave or permit to be placed exposed or left for display sale or otherwise
  any goods or merchandise whatsoever upon or over the ground outside the
  Premises;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Free Standing Signs

  	
   

  	
  5.17

  	
   

  	
   

  	
   

  	
  Not to place expose or
  leave or permit to be placed exposed or left any free standing signs upon or
  over the ground outside the Premises or in any of the staircases passages or
  landings of the Building used in common with other Tenants or the Landlord;

  

 

21

 

	
  Preparation of Food &
  Prevention of Odours

  	
   

  	
  5.18

  	
   

  	
   

  	
   

  	
  Not to cause or permit any
  offensive or unusual odours arising out of the preparation of food upon the
  Premises (if so permitted under the terms of Part VII of the Schedule) to
  emanate from the Premises so as to cause in the Landlord’s opinion a nuisance
  to other occupiers or users of the Building;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Food by Serviceways

  	
   

  	
  5.19

  	
   

  	
   

  	
   

  	
  Not to permit or allow any
  food stuffs or food containers to be brought onto or removed from the
  Premises except by way of service entrances service exits and (if any)
  service lifts or otherwise as may be directed by the Landlord from time to
  time;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Animals, Pets &
  Infestation

  	
   

  	
  5.20

  	
   

  	
   

  	
   

  	
  Not to keep or permit or
  suffer to be kept any pets animals or livestock inside the Premises and to
  take all such reasonable steps and precautions to the satisfaction of the
  Landlord as shall be necessary to prevent the Premises or any part thereof
  from becoming infested by termites rats mice roaches or any other pests or
  vermin and for the better observance hereof the Landlord may require the
  Tenant at the Tenant’s cost to employ such pest extermination contractors as
  the Landlord may nominate and at such intervals as the Landlord may direct;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Alienation

  	
   

  	
  5.21

  	
   

  	
   

  	
   

  	
  Not to assign underlet or
  otherwise part with the possession of the Premises or any part thereof in any
  way whether by way of subletting lending sharing or other means whereby any
  person or persons not a party to this Agreement obtains the use or possession
  of the Premises or any part thereof irrespective of whether any rental or
  other consideration is given for such use or possession and in the event of
  any such transfer sub-letting sharing assignment or parting with the
  possession of the Premises (whether for monetary consideration or not) this
  Agreement shall absolutely determine

  

 

22

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  and the Tenant shall
  forthwith vacate the Premises on notice to that effect from the Landlord. The
  Tenancy shall be personal to the Tenant named in the Schedule to this
  Agreement and without in any way limiting the generality of the foregoing the
  following acts and events shall unless approved in writing by the Landlord be
  deemed to be breaches of this clause :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (i)

  	
   

  	
  In the case of a tenant
  which is a partnership the taking in of one or more new partners whether on
  the death or retirement of an existing partner or otherwise;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (ii)

  	
   

  	
  In the case of a tenant
  who is an individual (including a sole surviving partner of a partnership
  tenant) the death insanity or disability of that individual to the intent
  that no right to use possess occupy or enjoy the Premises or any part thereof
  shall vest in the executors administrators personal representatives next of
  kin trustee or committee of any such Individual;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (iii)

  	
   

  	
  In the case of a tenant
  which is a corporation any take-over reconstruction amalgamation merger
  voluntary liquidation or change in the person or persons who owns or own a
  majority of its voting shares or who otherwise has or have effective control
  thereof;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (iv)

  	
   

  	
  The giving by the Tenant
  of a Power of Attorney or similar authority whereby the donee of the Power
  obtains the right to use possess occupy or enjoy the Premises or any part
  thereof or does in fact use possess occupy or enjoy the same;

  

 

23

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  (v)

  	
   

  	
  The change of the Tenant’s
  business name without the previous written consent of the Landlord which
  consent the Landlord may give or withhold at its discretion;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Breach of Government Lease

  	
   

  	
  5.22

  	
   

  	
   

  	
   

  	
  Not to cause suffer or
  permit any contravention of the negative or restrictive provisions of the
  Government Lease or Conditions of Grant under which the Landlord holds the
  Premises or any Deed of Mutual Covenant or any Sub-Deed of Mutual Covenant affecting
  the Building and to indemnify the Landlord against any such breach;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Breach of Insurance Policy

  	
   

  	
  5.23

  	
   

  	
   

  	
   

  	
  Not to cause or suffer or
  permit to be done any act or thing whereby the policy or policies of
  insurance on the Premises against damage by fire or liability to Third
  Parties for the time being subsisting may become void or voidable or whereby
  the rate of premium or premiums thereon may be increased, and to repay to the
  Landlord on demand all sums paid by the Landlord by way of increased premium
  or premiums thereon and all expenses incurred by the Landlord in and about
  any renewal of such policy or policies arising from or rendered necessary by
  a breach of this Clause;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Prohibited Names

  	
   

  	
  5.24

  	
   

  	
   

  	
   

  	
  Not without the previous
  written consent of the Landlord to name or include in the name of the
  business or company operated by the Tenant the name of the Building or any
  name similar thereto and not at any time to change the name of the business
  or company to include any such name as aforesaid.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Locks

  	
   

  	
  5.25

  	
   

  	
   

  	
   

  	
  Not without the previous
  written consent of the Landlord (such consent not to be unreasonably
  withheld) to alter the existing locks, bolts and fittings on the entrance
  doors to the Premises nor to install any additional locks, bolts or fittings
  thereon.

  

 

24

 

	
  Tenants’ Association

  	
   

  	
  5.26

  	
   

  	
   

  	
   

  	
  Not to form or organise or
  attempt or make any effort to form or organise any tenant’s association or
  union jointly with any tenants of the Building for whatever objects or
  purposes during the continuance of the tenancy.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Overload

  	
   

  	
  5.27

  	
   

  	
   

  	
   

  	
  Not to place on any part
  of floors of the Premises any article, machinery, goods or merchandise which
  may cause the maximum floor loading-bearing capacity thereof to be exceeded.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION
  VI

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  EXCLUSIONS

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  6.

  	
   

  	
   

  	
   

  	
  IT IS HEREBY FURTHER
  EXPRESSLY AGREED AND DECLARED that the Landlord shall not in any
  circumstances be liable to the Tenant or any other person whomsoever :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Breakdown of Lifts,
  Air-Conditioning, Utilities

  	
   

  	
  6.01

  	
   

  	
  (i)

  	
   

  	
  In respect of any loss of
  profit or of business or loss of life or loss, injury or damage to person or
  property or for any disruption or inconvenience caused to or suffered or
  sustained by the Tenant or any other person caused by or through or in any
  way owing to or arising out of or connected with any defect in or breakdown
  or suspension of service of the lifts air-conditioning system, electric power
  or water supplies, or any other building service provided in or serving the
  Building, or

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Fire and overflow of water

  	
   

  	
   

  	
   

  	
  (ii)

  	
   

  	
  In respect of any loss of
  profit or of business or loss of life or loss injury or damage to person or
  property or for any disruption or inconvenience caused to or suffered or
  sustained by the Tenant or any other person caused by or through or in any
  way owing to or arising out of or connected with any escape of fumes smoke
  fire or any 

  

 

25

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  other substance or thing
  or the overflow of water from anywhere within the Building, or

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Security

  	
   

  	
   

  	
   

  	
  (iii)

  	
   

  	
  For the security or
  safekeeping of the Premises or any contents therein and in particular but
  without prejudice to the generality of the foregoing the provision by the Landlord
  of watchmen and caretakers or any mechanical or electrical systems of alarm
  of whatever nature shall not create any obligation on the part of the
  Landlord as to the security of the Premises or any contents therein and the
  responsibility for the safety of the Premises and the contents thereof shall
  at all times rest with the Tenant,

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  nor shall the rent
  hereinbefore mentioned or other charges payable hereunder or any part thereof
  abate or cease to be payable on account of any of the foregoing.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION
  VII

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ABATEMENT
  OF RENT

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Suspension of Rent in case
  of Fire

  	
   

  	
  7.01

  	
   

  	
   

  	
   

  	
  If the Premises or the
  Building or any part thereof shall at any time during the tenancy be
  destroyed or damaged or become inaccessible owing to fire water storm typhoon
  defective construction white ants earthquake subsidence of the ground or any
  calamity beyond the control of the Landlord so as to render the Premises
  unfit for commercial use or inaccessible and the policy or policies of
  insurance effected by the Landlord shall not have been vitiated or payment of
  policy monies refused in whole or in part in consequence of any act or
  default of the Tenant or if at any time during the continuance of this
  Tenancy the Premises or the Building shall be condemned as a dangerous
  structure or a demolition order or closing order shall

  

 

26

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  become operative in
  respect of the Premises or the Building then the rent hereby reserved or a
  fair proportion thereof according to the nature and extent of the damage
  sustained or order made shall be suspended until the Premises or the Building
  shall again be rendered accessible and fit for commercial use Provided that
  should the Premises or the Building not have been reinstated in the meantime
  either the Landlord or the Tenant may at any time after six months from the
  occurrence of such damage or destruction or order give to the other of them
  notice in writing to determine this present tenancy and thereupon the same
  and everything herein contained shall cease and be void as from the date of
  the occurrence of such destruction or damage or order or of the Premises
  becoming inaccessible or unfit for commercial use but without prejudice to
  the rights and remedies of either party against the other in respect of any
  antecedent claim or breach of the agreements stipulations terms and
  conditions herein contained or of the Landlord in respect of the rent payable
  hereunder prior to the coming into effect of the suspension.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION
  VIII

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  DEFAULT

  
	
   

  
	
   

  	
   

  	
  8.

  	
   

  	
   

  	
   

  	
  It is hereby expressly
  agreed and declared as follows :-

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Default

  	
   

  	
  8.01

  	
   

  	
   

  	
   

  	
  If the Rent and/or the
  management fee and/or the central chilled water charges and/or any other sums
  payable hereunder or any part thereof shall be in arrear for fifteen (15)
  days after the same shall become payable (whether formally demanded or not)
  or if there shall be any breach or non-performance of any of the stipulations
  conditions or agreements herein contained

  

 

27

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  and on the part of the
  Tenant to be observed or performed which the Tenant shall fail to rectify or
  take all necessary steps towards rectification within a period of 15 days of
  being advised in writing of the breach or if the Tenant shall stop or suspend
  payment of its debts or be unable to or admit inability to pay its debts as
  they fall due or enter into any scheme of arrangements with its creditors or
  have any encumbrancer take possession of any of its assets in circumstances
  in which the Landlord shall have reasonable grounds for believing that the
  ability of the Tenant to pay the rentals and other charges hereby reserved
  and to observe and perform its obligations under this Agreement shall have
  been prejudiced or put at risk or have a receiving order made against it or
  in such circumstances as aforesaid fail to satisfy any judgment that may be
  given in any action against it after final appeal or if the Tenant shall
  become bankrupt or being a corporation go into liquidation (save for the
  purposes of amalgamation or reconstruction) or if the Tenant shall suffer any
  execution to be levied upon the Premises or otherwise on the Tenant’s goods
  or if in such circumstances as aforesaid the Tenant shall suspend or cease or
  threaten to suspend or cease to carry on its business or should any event
  occur or proceedings be taken with respect to the Tenant in any jurisdiction
  to which the Tenant is subject which has an effect equivalent or similar to
  any of the events or circumstances described above then and in any such case
  it shall be lawful for the Landlord at any time thereafter to re-enter on and
  upon the Premises or any part thereof in the name of the whole and thereupon
  this Agreement shall absolutely determine but without prejudice to any right
  or action by the Landlord in respect of any outstanding breach or
  non-observance or non-performance by the Tenant of any of the terms of this
  Agreement.  A written

  

 

28

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  notice served by the
  Landlord on the Tenant in manner hereinafter provided to the effect that the
  Landlord thereby exercises the power of determination and/or re-entry
  hereinbefore contained shall be a full and sufficient exercise of such power
  without physical entry on the part of the Landlord notwithstanding any
  statutory or common law provision to the contrary. All costs and expenses
  including any legal costs and fees incurred by the Landlord in demanding
  payment of the rent and other charges aforesaid (if the Landlord elects to
  demand) or the extent of any loss to the Landlord arising out of this Clause
  shall be paid by the Tenant and shall be recoverable from the Tenant as a
  debt or be deductable by the Landlord from any deposit held by the Landlord
  hereunder;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Interest

  	
   

  	
  8.02

  	
   

  	
   

  	
   

  	
  Notwithstanding anything
  herein contained in the event of default in payment of rent or other monies
  payable by the Tenant hereunder for a period of 14 days from the date when
  payment is due (whether formally demanded or not) the Tenant shall pay to the
  Landlord on demand daily interest on all such sums outstanding at the rate of
  1.5 % per calendar month calculated from the date on which the same shall be
  due for payment (in accordance with the provisions contained in that behalf herein)
  until the date of payment as liquidated damages and not as penalty provided
  that the demand and/or receipt by the Landlord of interest pursuant to this
  Clause shall be without prejudice to and shall not affect the right of the
  Landlord to exercise any other right or remedy hereof (including but without
  prejudice to the generality of the foregoing the right of re-entry)
  exercisable under the terms of this Agreement;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Acceptance of Rent

  	
   

  	
  8.03

  	
   

  	
   

  	
   

  	
  The acceptance of any rent
  by the Landlord hereunder shall not be deemed to operate as a waiver by the
  Landlord of any right to

  

 

29

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  proceed against the Tenant
  in respect of any breach non-observance or non-performance by the Tenant of
  any of the agreements stipulations terms and conditions herein contained and
  on the part of the Tenant to be observed and performed;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Acts of Employees Invitees
  & Licensees

  	
   

  	
  8.04

  	
   

  	
   

  	
   

  	
  For the purpose of these
  presents any act default neglect or omission of any guest, visitor, servant,
  contractor, employee, agent, invitee or licensee of the Tenant shall be
  deemed to be act default neglect or omission of the Tenant;

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Distraint

  	
   

  	
  8.05

  	
   

  	
   

  	
   

  	
  For the purpose of Part
  III of the Landlord and Tenant (Consolidation) Ordinance (Chapter 7) and of
  this Agreement, the Rent payable in respect of the Premises shall be and be
  deemed to be in arrear if not paid in advance at the times and in the manner
  hereinbefore provided for payment thereof.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Disconnection of Air-conditioning
  Chilled Water Etc.

  	
   

  	
  8.06

  	
   

  	
   

  	
   

  	
  In addition and without
  prejudice to the Landlord’s rights under Clauses 8.01 and 8.02 hereof, the
  Landlord shall be entitled, and the Tenant hereby specifically authorises the
  Landlord, in the event of any breach or default by the Tenant of or in the
  performance of any of the terms and conditions of this Agreement, cut off or
  otherwise disconnect the supply of water, electricity and air-conditioning
  chilled water or any of them to the Premises and in the event that the Tenant
  shall have deserted, abandoned or no longer be occupying the Premises or on
  the expiration or sooner determination of the Term to dispose of all objects
  including goods merchandise equipment furniture and fixtures in or at the
  Premises in such manner as the Landlord shall deem fit, and any expenses in
  connection therewith shall be paid by the Tenant and shall be recoverable
  from it as a debt. The Landlord shall incur no liability whatsoever to the
  Tenant in respect of anything done or omitted to be done in

  

 

30

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  pursuance or purported
  pursuance of this Clause and the Tenant shall indemnify and keep the Landlord
  fully indemnified against all actions, proceedings, claims, costs and
  expenses in respect of anything done or omitted to be done by the Landlord in
  pursuance or purported pursuance of this Clause.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION
  IX

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  DEPOSIT

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Deposit

  	
   

  	
  9.01

  	
   

  	
   

  	
   

  	
  The Tenant shall on the
  signing hereof deposit with the Landlord the sum or sums specified in Part VI
  of the Schedule hereto (being the equivalent of three months’ rent and
  management fee and central chilled water charges at the rates payable
  therefor at the commencement of the Term) to secure the due observance and
  performance by the Tenant of the agreements stipulations terms and conditions
  herein contained and on the part of the Tenant to be observed and performed
  which said deposit shall be held by the Landlord throughout the currency of
  this Agreement free of any interest to the Tenant with the right for the
  Landlord (without prejudice to any other right or remedy hereunder) to deduct
  therefrom the amount of any Rent rates and other charges payable hereunder
  and any costs expenses loss or damage sustained by the Landlord as the result
  of any non-observance or non-performance by the Tenant of any of the said
  agreements stipulations obligations or conditions. In the event of any
  deduction being made by the Landlord from the said deposit in accordance
  herewith during the currency of this Agreement the Tenant shall forthwith on
  demand by the Landlord make a further deposit equal to the amount so deducted
  and failure by the Tenant so to do shall entitle the Landlord forthwith to
  re-enter upon the

  

 

31

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Premises and to determine
  this Agreement as hereinbefore provided.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Increase in Deposit

  	
   

  	
  9.02

  	
   

  	
   

  	
   

  	
  The amount of the deposit
  shall be increased following each and any increase in rent or the management
  fee and central chilled water charges provided for herein to a sum equal to
  three (3) months’ rent and management fee and central chilled water charges
  at the rates payable therefor at the date or dates of such increase becoming
  effective, and the Tenant shall make payment accordingly and the provisions
  of this Section IX shall apply to such further deposits.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Repayment of Deposit

  	
   

  	
  9.03

  	
   

  	
   

  	
   

  	
  Subject as aforesaid the
  said deposit and any further deposits paid shall be refunded to the Tenant by
  the Landlord without interest within a reasonable period of time after the
  expiration or sooner determination of this Agreement and delivery of vacant
  possession to the Landlord and after settlement of the last outstanding claim
  by the Landlord against the Tenant for any arrears of Rent rates and other
  charges and for any breach non-observance or non-performance of any of the
  agreements stipulations terms and conditions herein contained and on the part
  of the Tenant to be observed or performed whichever shall be the later.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION
  X

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  REGULATIONS

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Introduction of
  Regulations

  	
   

  	
  10.01

  	
   

  	
   

  	
   

  	
  The Landlord shall be
  entitled from time to time and by notice in writing to the Tenant to make
  introduce and subsequently amend adopt or abolish if necessary such
  Regulations as it may consider necessary for the proper operation and
  maintenance of the Building.

  

 

32

 

	
  Conflict

  	
   

  	
  10.02

  	
   

  	
   

  	
   

  	
  Such Regulations shall be
  supplementary to the terms and conditions contained in this Agreement and
  shall not in any way derogate from such terms and conditions. In the event of
  conflict between such Regulations and the terms and conditions of this
  Agreement the terms and conditions of this Agreement shall prevail.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exclusion of Liability

  	
   

  	
  10.03

  	
   

  	
   

  	
   

  	
  The Landlord shall not be
  liable for any loss or damage howsoever caused arising from any
  non-enforcement of the Regulations or non-observance thereof by any third
  party.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SECTION
  XI

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  INTERPRETATION
  AND MISCELLANEOUS

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name of Building

  	
   

  	
  11.01

  	
   

  	
   

  	
   

  	
  The Landlord reserves the
  right to name the Building with any such name or style as it in its sole
  discretion may determine and at any time and from time to time to change
  alter substitute or abandon any such name without thereby becoming liable to compensate
  the Tenant for any loss expense or inconvenience caused to the Tenant as a
  consequence thereof provided that the Landlord shall give the Tenant and the
  Postal and other relevant Government Authorities not less than three months
  notice of its intention so to do.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Alterations to the
  Building

  	
   

  	
  11.02

  	
   

  	
   

  	
   

  	
  The Landlord reserves the
  right from time to time to improve extend add to or reduce the Building or in
  any manner whatsoever alter or deal with the Building (other than the
  Premises) Provided always that in exercising such right the Landlord will
  endeavour to cause as little inconvenience to the Tenant as is practicable in
  the circumstances and make good any damage caused to the Premises within a
  reasonable period of time.

  

 

33

 

	
  Functions & Display

  	
   

  	
  11.03

  	
   

  	
   

  	
   

  	
  Notwithstanding anything
  herein contained or implied to the contrary the Landlord may permit any
  person or organization to hold any functions or exhibition or display any
  merchandise in any part or parts of the common areas of the Building at such
  times and upon such terms and conditions as the Landlord may in its absolute
  discretion think fit.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Public Address System

  	
   

  	
  11.04

  	
   

  	
   

  	
   

  	
  Notwithstanding anything
  herein contained or implied to the contrary the Landlord may provide and
  install a public address system throughout the common areas of the Building
  and may play relay or broadcast or permit any other person to play relay or
  broadcast recorded music or public announcements thereon.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Condonation Not A Waiver

  	
   

  	
  11.05

  	
   

  	
   

  	
   

  	
  No condoning excusing or
  overlooking by the Landlord of any default breach or non-observance or
  non-performance by the Tenant at any time or times of any of the agreements
  stipulations terms and conditions herein contained shall operate as a waiver
  of the Landlord’s right hereunder in respect of any continuing or subsequent
  default breach or non-observance or non- performance or so as to defeat or
  affect in any way the rights and remedies of the Landlord hereunder in respect
  of any such continuing or subsequent default or breach and no waiver by the
  Landlord shall be inferred from or implied by anything done or omitted by the
  Landlord, unless expressed in writing and signed by the Landlord. Any consent
  given by the Landlord shall operate as a consent only for the particular
  matter to which it relates and shall in no way be considered as a waiver or
  release of any of the provisions hereof nor shall it be construed as
  dispensing with the necessity of obtaining the specific written consent of
  the Landlord in the future, unless expressly so provided.

  

 

34

 

	
  Letting Notices &
  Entry

  	
   

  	
  11.06

  	
   

  	
   

  	
   

  	
  During the three months
  immediately before the expiration or sooner determination of the said Term of
  tenancy the Tenant shall permit all persons having written authority to enter
  and view the Premises and every part thereof at all reasonable times PROVIDED
  FURTHER that the Landlord shall be at liberty to affix and maintain without
  interference upon any external part of the Premises a notice stating that the
  Premises are to be let and such other information in connection therewith as
  the Landlord shall reasonably require during the aforementioned period of 3
  months.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Service of Notice

  	
   

  	
  11.07

  	
   

  	
   

  	
   

  	
  Any notice required to be
  served on the Tenant shall be sufficiently served if delivered to or
  despatched by registered post or left at the Premises or at the last known
  address of the Tenant. Any notice required to be served on the Landlord shall
  be sufficiently served if delivered or despatched by registered post to its
  registered office from time to time. 
  A notice sent by registered post shall be deemed to be given at the
  time and date of posting.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Gender

  	
   

  	
  11.08

  	
   

  	
   

  	
   

  	
  In this Agreement if the
  context otherwise permits or requires words importing the singular number
  shall include the plural number and vice versa and words importing the
  masculine feminine or neuter gender shall include the other of them and
  references to persons shall include bodies corporate or unincorporate.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Marginal Notes, Headings
  & Index

  	
   

  	
  11.09

  	
   

  	
   

  	
   

  	
  The Marginal Notes
  Headings and index are intended for guidance only and do not form part of
  this Agreement nor shall any of the provisions of this Agreement be construed
  or interpreted by reference thereto or in any way affected or limited
  thereby.

  

 

35

 

	
  Stamp Duty & Costs

  	
   

  	
  11.10

  	
   

  	
   

  	
   

  	
  The legal costs of and
  incidental to the preparation execution and completion of this Agreement
  shall be borne by the Landlord and the Tenant in the manner stipulated in
  Part VIII of the Schedule hereto.  The
  stamp duty and registration fee (if any) on this Agreement shall be borne by
  the parties hereto in equal shares.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Deed of Mutual Covenant
  and Management Agreement

  	
   

  	
  11.11

  	
   

  	
   

  	
   

  	
  The Tenant shall observe
  and comply with and perform all the covenants terms and provisions in the
  Deed of Mutual Covenant or Sub-Deed of Mutual Covenant or Management
  Agreement (if any) relating to the Building so far as they relate to the
  Premises and shall indemnify the Landlord against the breach non-observance
  or non-performance thereof.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  In the event that under
  any such Deed of Mutual Covenant or Sub-Deed of Mutual Covenant or Management
  Agreement the supply of chilled water and/or the operation and/or the
  management of the Building or the right, power or duty thereto shall be
  controlled by or vested in a manager the Tenant shall pay all
  air-conditioning and service charge and all management and maintenance
  charges relating to the Premises as may be payable under such Deed of Mutual
  Covenant or Sub-Deed of Mutual Covenant or Management Agreement.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  No Fine

  	
   

  	
  11.12

  	
   

  	
   

  	
   

  	
  The Tenant acknowledges
  that no fine premium key money construction money or other consideration has
  been paid or will be payable by the Tenant to the Landlord for the grant of
  this tenancy.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exclusion of Warranties

  	
   

  	
  11.13

  	
   

  	
   

  	
   

  	
  This Agreement sets out
  the full the agreement reached between the parties and no other representations
  have been made or warranties given relating to the Building or the Premises.

  

 

36

 

	
  Joint & Several
  Liability

  	
   

  	
  11.14

  	
   

  	
   

  	
   

  	
  Where more than one person
  is included in the expression “the Tenant” all such persons shall be jointly
  and severally liable for the performance and observance of the terms,
  conditions and agreements contained herein and on the part of the Tenant to
  be performed and observed.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Special Conditions

  	
   

  	
  11.15

  	
   

  	
   

  	
   

  	
  The parties hereto further
  agree that they shall respectively be bound by and entitled to the benefit of
  the Special Conditions set out in Part IX of the Schedule hereto.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  AS WITNESS the hands of
  the parties hereto the day and year first above written.

  

 

37

 

THE
SCHEDULE ABOVE REFERRED TO

 

PART
I

 

	
  The Landlord

  	
   

  	
  :

  	
   

  	
  JUGADA COMPANY LIMITED
  whose registered office is situate at 45th Floor, Sun Hung Kai Centre, 30
  Harbour Road, Hong Kong.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  The Tenant

  	
   

  	
  :

  	
   

  	
  VALENCE SEMICONDUCTOR
  DESIGN LIMITED [ILLEGIBLE] whose registered office is situate at Unit 213-5
  & 3, 2nd Floor, Tech Centre, 72 Tat Chee Avenue, Kowloon Tong, Hong Kong.

  

 

PART II

 

The Premises

 

All Those WORKSHOP
NO(S).01-10 on the NINETEENTH FLOOR of APEC PLAZA, No.49 Hoi Yuen Road, Kwun
Tong, Kowloon erected on All That piece or parcel of land registered in the
Land Registry as Kwun Tong Inland Lot No.731 which said Workshop is for the
purpose of identification only more particularly shown on the plan attached hereto
and thereon delineated and coloured Pink.

 

PART III

 

The Term

 

A
term of Three (3) years commencing on the 16th day of November 2003 and
expiring on the 15th day of November 2006.

 

PART IV

 

The Calendar Monthly Rent

 

HONG KONG DOLLARS SIXTY FOUR
THOUSAND FOUR HUNDRED AND SIXTY SEVEN ONLY (HK$64,467.00) payable in advance on
the first day of each and every calendar month clear of all deductions
exclusive of rates, management fee and central chilled water charges.

 

38

 

PART V

 

The Management Fee and the
Central Chilled Water Charges

 

HONG KONG DOLLARS THIRTY
THOUSAND TWO HUNDRED AND FORTY NINE AND CENTS NINETY ONLY (HK$30,249.90) per
calendar month, payable monthly in advance on the first day of each and every
calendar month.

 

PART VI

 

The Deposit

 

HONG KONG DOLLARS TWO
HUNDRED EIGHTY FOUR THOUSAND ONE HUNDRED FIFTY AND CENTS SEVENTY ONLY
(HK$284,150.70) being the equivalent of three (3) calendar months’ rent,
management fee and central chilled water charges.

 

PART VII

 

User

 

Restricted to use for
industrial use under the trading name of “Valence Semiconductor Design Limited”
provided that the Tenant shall obtain all necessary licences and approval
required by any Government Authority in connection with such use and provided
that the Landlord does not warrant that the Premises are fit to be used for
such purpose or any particular purpose.

 

PART VIII

 

Legal Costs

 

The legal costs of and
incidental to the preparation execution and completion of this Agreement shall
be borne by the Landlord and the Tenant in equal shares.

 

39

 

PART IX

Special Conditions

 

1.             Rent
free period

 

Notwithstanding anything to
the contrary contained in this Agreement, the Tenant shall be entitled to
occupy the Premises for the following periods free of rent provided that during
the said rent free period the Tenant shall pay all rates, management fee and
central chilled water charges and other outgoings payable in respect of the
Premises :-

 

(i)            from 16th November 2003 to 15th January 2004 (both dates
inclusive),

 

(ii)           from 16th November 2004 to 15th January 2005 (both dates
inclusive) and

 

(iii)          from 16th November 
2005 to 15th December 2005 (both dates inclusive).

 

2.                                   Notwithstanding anything hereinbefore
contained, it is hereby agreed that the deposit in the sum of HK$284,150.70
required to be paid by the Tenant to the Landlord pursuant to Clause 9.01 of
Section IX and Part IV of the Schedule of this Agreement shall be transferred
from a portion of the existing deposit held by the Landlord from the Tenant
under a Tenancy Agreement of the Premises dated the 18th day of June 2002 (“the
existing Tenancy Agreement”) on the commencement of the term hereby created,
provided always that if for any reason the existing deposit is insufficient to
cover the deposit payable as aforesaid, the shortfall shall be paid by the
Tenant to the Landlord on or before such commencement.  Any surplus of the existing deposit shall be
credited to the Tenant’s rental account.

 

3.                                       The Landlord reserves its right of free and
uninterrupted passage egress from and ingress to the common services of the
Building in or under above or through the Premises. In particular, but without
affecting the generality of the aforesaid, the Landlord shall have the right to
install, affix, erect or permit to be installed, affixed or erected any aerial,
transmitter or other telecommunication cable wiring or equipment on or above
the false ceiling or otherwise over or under the Premises and the Tenant shall
permit the Landlord or its authorized agent or contractor to enter the Premises
to install affix erect maintain or repair such aerial transmitter cable wiring
or equipment at all reasonable time upon prior appointment and shall not
remove, alter or otherwise cause damage to such aerial transmitter cable wiring
or equipment at the Premises and shall indemnify the Landlord against all
claims demands actions proceeding loss or damages costs and expenses arising
from the breach of this provision by the Tenant.

 

40

 

	
  SIGNED by

  	
  Wong
  Chin Wah

  	
  )

  	
   

  
	
   

  	
   

  	
  )

  	
   

  
	
   

  	
   

  	
  )

  	
  For
  and on behalf of

  
	
   

  	
  )

  	
  JUGADA COMPANY LIMITED

  
	
  for
  and on behalf of Jugada Company

  	
  )

  	
   

  
	
   

  	
  )

  	
  /s/ Wong
  Chin Wah

  	
   

  
	
  Limited
  whose signature is verified by:-

  	
  )

  	
  Authorised Signature(s)

  	
   

  

 

 

	
   

  	
  /s/ Majestic Sin Yeung

  	
   

  
	
   

  	
  Majestic Sin Yeung

  
	
   

  	
  Johnson Stokes & Master

  Solicitor, Hong Kong SAR

  

 

 

	
  SIGNED by

  	
  CHOI
  Yat Ming

  	
  )

  	
   

  
	
   

  	
   

  	
  )

  	
  For
  and on behalf of

  
	
   

  	
   

  	
  )

  	
  VALENCE
  SEMICONDUCTOR DESIGN LIMITED

  
	
   

  	
   

  	
  )

  	
   

  
	
   

  	
   

  	
  )

  	
   

  
	
  for
  and on behalf of the Tenant in the

  	
  )

  	
  /s/ CHOI
  Yat Ming

  	
   

  
	
   

  	
  )

  	
  Authorised Signature(s)

  	
   

  
	
  presence
  of:-

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/
  CHAM Tze Kwong Reivlin

  	
   

  	
   

  	
   

  
	
   

  	
  CHAM
  Tze Kwong Reivlin

  	
   

  	
   

  
	
   

  	
  HKID
  No. E849223(2)

  	
   

  	
   

  
								

 

41

 

	
  RECEIVED
  on or before the day and year first above 

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  
	
  written
  of and from the Tenant the above mentioned

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  
	
  deposit
  of HONG KONG DOLLARS TWO

  	
  )

  	
   

  	
  HK$284,150,70

  	
   

  
	
   

  	
  )

  	
   

  
	
  HUNDRED EIGHTY FOUR THOUSAND ONE

  	
  )

  	
   

  
	
   

  	
  )

  	
  For
  and on behalf of

  
	
  HUNDRED AND FIFTY AND CENTS SEVENTY

  	
  )

  	
  JUGADA
  COMPANY LIMITED

  
	
   

  	
  )

  	
   

  
	
  ONLY (the whole sum of which having been

  	
  )

  	
  /s/ Wong
  Chin Wah

  	
   

  
	
   

  	
  )

  	
  Authorised Signature(s)

  	
   

  
	
  transferred from the previous tenancy agreement as 

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  
	
  aforesaid upon surrender of the previous tenancy 

  	
  )

  	
   

  
	
   

  	
  )

  	
   

  
	
  agreement).

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Signature
  verified by :-

  	
   

  	
   

  
						

 

 

	
   

  	
  /s/ Majestic Sin Yeung

  	
   

  
	
   

  	
  Majestic Sin Yeung

  
	
   

  	
  Johnson Stokes & Master

  Solicitor, Hong Kong SAR

  

 

42

 

APEC PLAZA

 

 

	
   

  	
  [SEAL]

  	
  19th Floor Plan

  	
   

  
	
   

  	
   

  	
   

  	
  (For Identification Only)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00064-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00064-of-00352.parquet"}]]