Document:

Exhibit 10.6

 

TRADEMARK LICENSE CONTRACT

 

Between

 

天华阳光控股有限公司

Sky Solar Holdings Co., Ltd.

(as Licensor)

 

and

 

Sky Power Holdings Ltd.

(as Licensee)

 

Dated September 6, 2013

 

 

TABLE OF CONTENTS

 

	
 
    	
 
    	
Page
    
	
 
    	
 
    	
 
    
	
ARTICLE 1   - GENERAL PROVISIONS
    	
3
    
	
 
    	
 
    	
 
    
	
ARTICLE 2   - DEFINITIONS
    	
3
    
	
 
    	
 
    	
 
    
	
ARTICLE 3   - CONTENTS AND SCOPE   OF LICENSE
    	
4
    
	
 
    	
 
    	
 
    
	
3.1
    	
LICENSE
    	
4
    
	
 
    	
 
    	
 
    
	
3.2
    	
CONSIDERATION
    	
4
    
	
 
    	
 
    	
 
    
	
3.3
    	
RETAINED RIGHTS
    	
4
    
	
 
    	
 
    	
 
    
	
ARTICLE 4   - COVENANTS OF THE PARTIES
    	
4
    
	
 
    	
 
    	
 
    
	
4.1
    	
USE BY LICENSEE
    	
4
    
	
 
    	
 
    	
 
    
	
4.2
    	
NO IMPAIRMENT
    	
4
    
	
 
    	
 
    	
 
    
	
4.3
    	
TRADEMARK REGISTRATION
    	
5
    
	
 
    	
 
    	
 
    
	
4.4
    	
RECORDATION OF CONTRACT
    	
5
    
	
 
    	
 
    	
 
    
	
ARTICLE 5   - REPRESENTATIONS; DEFENSE; THIRD PERSON INFRINGEMENT
    	
5
    
	
 
    	
 
    	
 
    
	
5.1
    	
REPRESENTATIONS
    	
5
    
	
 
    	
 
    	
 
    
	
5.2
    	
DEFENSE AGAINST INFRINGEMENT   CLAIMS
    	
5
    
	
 
    	
 
    	
 
    
	
5.3
    	
THIRD PERSON INFRINGEMENT
    	
5
    
	
 
    	
 
    	
 
    
	
ARTICLE 6   - COMPLIANCE
    	
6
    
	
 
    	
 
    	
 
    
	
ARTICLE 7   - CONFIDENTIALITY
    	
6
    
	
 
    	
 
    	
 
    
	
7.1
    	
CONFIDENTIALITY
    	
6
    
	
 
    	
 
    	
 
    
	
7.2
    	
EXCEPTIONS
    	
6
    
	
 
    	
 
    	
 
    
	
7.3
    	
MEASURES OF PROTECTION
    	
6
    
	
 
    	
 
    	
 
    
	
7.4
    	
BREACH
    	
7
    
	
 
    	
 
    	
 
    
	
7.5
    	
SURVIVAL
    	
7
    
	
 
    	
 
    	
 
    
	
ARTICLE 8   - TERM, TERMINATION, BREACH
    	
7
    
	
 
    	
 
    	
 
    
	
8.1
    	
EFFECTIVE DATE
    	
7
    
	
 
    	
 
    	
 
    
	
8.2
    	
TERM
    	
7
    
	
 
    	
 
    	
 
    
	
8.3
    	
TERMINATION
    	
7
    

 

 

	
8.4
    	
UPON EXPIRATION OR   TERMINATION
    	
7
    
	
 
    	
 
    	
 
    
	
8.5
    	
CONTINUING OBLIGATIONS UPON   EXPIRATION OR TERMINATION
    	
7
    
	
 
    	
 
    	
 
    
	
8.6
    	
BREACH
    	
8
    
	
 
    	
 
    	
 
    
	
ARTICLE 9   - GOVERNING LAW
    	
8
    
	
 
    	
 
    	
 
    
	
ARTICLE 10   - DISPUTE RESOLUTION
    	
8
    
	
 
    	
 
    	
 
    
	
10.1
    	
CONSULTATION
    	
8
    
	
 
    	
 
    	
 
    
	
10.2
    	
ARBITRATION
    	
8
    
	
 
    	
 
    	
 
    
	
ARTICLE 11   - MISCELLANEOUS
    	
9
    
	
 
    	
 
    	
 
    
	
11.1
    	
NO AGENCY/PARTNERSHIP
    	
9
    
	
 
    	
 
    	
 
    
	
11.2
    	
COSTS AND EXPENSES
    	
9
    
	
 
    	
 
    	
 
    
	
11.3
    	
AMENDMENT
    	
9
    
	
 
    	
 
    	
 
    
	
11.4
    	
WAIVER
    	
9
    
	
 
    	
 
    	
 
    
	
11.5
    	
ASSIGNMENT AND TRANSFER
    	
9
    
	
 
    	
 
    	
 
    
	
11.6
    	
SUB-LICENSING
    	
9
    
	
 
    	
 
    	
 
    
	
11.7
    	
NOTICES
    	
9
    
	
 
    	
 
    	
 
    
	
11.8
    	
HEADINGS
    	
10
    
	
 
    	
 
    	
 
    
	
11.9
    	
SEVERABILITY
    	
10
    
	
 
    	
 
    	
 
    
	
11.10
    	
ENTIRE AGREEMENT
    	
10
    
	
 
    	
 
    	
 
    
	
11.11
    	
BINDING EFFECT
    	
10
    
	
 
    	
 
    	
 
    
	
Schedule A
    	
 
    	
 
    

 

 

TRADEMARK LICENSE CONTRACT

 

ARTICLE 1 - GENERAL PROVISIONS

 

This TRADEMARK LICENSE CONTRACT, dated as of this day of September 6, 2013, is made by and between天华阳光控股限公司 (Sky Solar Holdings Co., Ltd.) (the “Licensor”), a corporation organized and existing under the laws of the Cayman Islands, and Sky Power Holdings Ltd. (the “Licensee”), a corporation organized and existing under the laws of the Cayman Islands.

 

WHEREAS, Licensor is willing to grant to Licensee, and Licensee is willing to obtain from Licensor, such a license on the terms and subject to the conditions hereof.

 

NOW, THEREFORE, in consideration of the premises and mutual agreements and covenants set forth herein, the Parties hereby agree as follows:

 

ARTICLE 2 - DEFINITIONS

 

As used in this Contract, the following terms shall have the following meanings:

 

2.1                     “Affiliate” means, with respect to any specified Person, any other Person that directly, or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such specified Person; “control” (including the terms “controlled by” and “under common control with”) in this definition means the possession, directly or indirectly, of the power to direct or cause the direction of the affairs or management of a Person, whether through the ownership of 50% or more voting stocks, appointment of directors or by contract;

 

2.2                     “Confidential Information” has the meaning set forth in Article 7.1;

 

2.3                     “Contract” means this Trademark License Contract between Licensor and Licensee, as the same may be amended or supplemented from time to time;

 

2.4                     “Group” means Licensee and its subsidiaries;

 

2.5                     “License” has the meaning set forth in Article 3.1;

 

2.6                     “Licensee” has the meaning set forth in Article 1;

 

2.7       “Licensed Trademarks” means the words, marks and logos that Licensee is licensed by Licensor to use hereunder, as more specifically set forth in Schedule A;

 

2.8                     “Licensor” has the meaning set forth in Article 1;

 

2.9                     “Notice” has the meaning set forth in Article 11.7;

 

2.10              “Party” means Licensor or Licensee;

 

2.11              “Parties” means collectively Licensor and Licensee;

 

2.12              “Person” means any individual, partnership, firm, corporation, association, trust, unincorporated organization or other entity or institution;

 

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2.13              “subsidiary” has the meaning ascribed to it in section 2 of the Companies Ordinance (Chapter 32 of the Laws of Hong Kong); and

 

2.14              “Term” has the meaning set forth in Article 8.2.

 

ARTICLE 3 - CONTENTS AND SCOPE OF LICENSE

 

3.1                     License

 

On the terms and subject to the conditions hereof, Licensor hereby grants to Licensee non-exclusive right and license, at the Consideration set out in Article 3.2 below, to use the Licensed Trademarks in the jurisdiction(s) where the respective Licensed Trademarks were registered as set out in Schedule A for its lawful business activities during the Term hereof, specifically, in or on Licensee’s corporate name, trade name, logo, symbol, letterhead, envelopes, brochures, printed materials and on such promotional souvenirs and Licensee’s products as well as packages thereof (the “License”).

 

3.2                     Consideration

 

The annual consideration (the “Consideration”) of the License shall be US$1 and shall be paid by Licensee to Licensor on an annual basis starting from October 1, 2013.

 

3.3                     Retained Rights

 

Licensee shall have no right to continue to use any of the Licensed Trademarks upon any termination of this Contract for whatever reason, and all rights licensed to Licensee hereunder shall automatically revert to Licensor upon such termination.

 

ARTICLE 4 - COVENANTS OF THE PARTIES

 

4.1                     Use by Licensee

 

During the Term hereof, Licensee shall only use the Licensed Trademarks for the benefit and purpose contemplated hereby and only in such a manner as to preserve and enhance the image, reputation and goodwill of the Licensed Trademarks as well as of the Parties, in each case in accordance with the terms and conditions hereof.

 

4.2                     No Impairment

 

(a)                       Licensee shall not arbitrarily modify the texts, graphics or a combination thereof of the Licensed Trademarks or any time do, or cause or suffer to be done, any other act or thing which may impair or dilute the image, value, reputation or goodwill of the Licensed Trademarks or the effectiveness thereof as trade names, trademarks or service marks.

 

(b)                       Licensor has the right to monitor Licensee’s quality of goods on which the Licensed Trademarks are used (including a right to inspect production and production condition) and Licensee shall guarantee the quality of such goods.

 

(c)                        Licensee shall state its company name and place of origin of goods on which the Licensed Trademarks are used.

 

4

 

4.3                     Trademark Registration

 

Unless the Licensed Trademarks have been registered in the relevant jurisdictions set forth in Schedule A, Licensor undertakes to apply for the registration of the Licensed Trademarks at its own cost, and shall maintain the registrations of the Licensed Trademarks throughout the Term hereof.

 

4.4                     Recordation of Contract

 

Upon registration of the Licensed Trademarks or, if the Licensed Trademarks have been duly registered, as soon as is practicable after the date of this Contract, Licensor shall record this Contract with the relevant regulatory authority or trademark office.  Upon written request by Licensor, Licensee shall assist Licensor in effecting the recordation of this Contract, including, but not limited to, executing and making available to Licensor any and all relevant documents, instruments or materials.

 

ARTICLE 5 - REPRESENTATIONS; DEFENSE; THIRD PERSON INFRINGEMENT

 

5.1                     Representations

 

(a)                       Licensor represents to Licensee that it is the legitimate owner of the Licensed Trademarks and has the legal right to grant to Licensee the right to use the Licensed Trademarks in accordance with the terms and conditions hereof.

 

(b)                       Licensor represents that Licensee shall be entitled to all economic benefits, directly or indirectly, arising out of the usage by Licensee of the Licensed Trademarks.

 

5.2                     Defense Against Infringement Claims

 

Licensor and Licensee shall each take various necessary and reasonable actions with a view to avoiding infringement of other Person’s intellectual property rights as a result of Licensee’s use of the Licensed Trademarks in accordance with this Contract.  To the extent possible, Licensor agrees to defend Licensee from and against third Person trademark infringement claims arising from Licensee’s use of the Licensed Trademarks in accordance herewith (the “Infringement Claims”) or direct the defense of the Infringement Claims by Licensee, subject to the following:

 

(a)                       upon the occurrence of any Infringement Claims, Licensee shall give Licensor immediate written notice thereof and afford Licensor the opportunity to defend the same, at its own expense, through counsel of its own choice, and shall not challenge the ownership right of Licensor in and to the Licensed Trademarks causing damage to Licensor’s rights with respect to the Licensed Trademarks; and

 

(b)                       Licensee shall cooperate with and assist Licensor in the defense of the Infringement Claims, including, among other things, furnishing relevant evidence and testimony necessary or helpful in such defense, or defend against such claims at the direction of Licensor, in each case at Licensee’s own expense.

 

5.3                     Third Person Infringement

 

Licensee shall immediately notify Licensor of any possible infringement of Licensor’s rights in and to the Licensed Trademarks which comes to Licensee’s attention.  With respect to any such infringement relating to any products of Licensee, Licensee shall use its best efforts to assist and cooperate fully with Licensor in investigating, stopping, pursuing and prosecuting any infringers of the Licensed Trademarks by all administrative and/or judicial means available (including, but not limited to, participating in Licensor’s prosecution).  If the lawsuit or the administrative action, as the case may

 

5

 

be, is successful, the award shall first be used to reimburse Licensee for its expenses incurred in the lawsuit or the administrative action, and the remainder shall belong to Licensor.

 

ARTICLE 6 - COMPLIANCE

 

Licensee shall be solely responsible for complying with all laws, rules and regulations applicable to the manufacture, labeling, government registration, transportation, performance and/or use of any products Licensee produces using any of the Licensed Trademarks in accordance with Article 3.1 above.

 

ARTICLE 7 - CONFIDENTIALITY

 

7.1                     Confidentiality

 

During the Term of this Contract, each Party may disclose to the other Party confidential or proprietary information or other confidential matters (collectively, the “Confidential Information”).  With respect to its Confidential Information disclosed hereunder, each Party shall indicate as such to the extent possible.  Any Party receiving any Confidential Information from the other Party shall:

 

(a)                       maintain the confidentiality of the Confidential Information;

 

(b)                       limit access to the Confidential Information to only those of its officers, directors, and employees as are necessary for the implementation of this Contract;

 

(c)                        not disclose, convey, assign, transfer, license or deliver, directly or indirectly, to any other Person any Confidential Information; and

 

(d)                       not use any of the Confidential Information for any purpose other than for the implementation of this Contract.

 

7.2                     Exceptions

 

The restrictions provided for in Article 7.1 regarding non-disclosure shall not apply to:

 

(a)                       confidential communications between Licensor and Licensee and any members of their corporate groups in which they hold controlling interests (i.e. interests of 30% or more in the relevant company’s share capital), professional advisors or bankers that are under an equivalent obligation of confidentiality for the purpose of implementing this Contract;

 

(b)                       disclosure required to be made by applicable law or regulatory requirements (including the requirements of an international stock exchange);

 

(c)                        information which has become public knowledge through no fault of either Party; and

 

(d)                       any information which was disclosed to the receiving Party in good faith by a third Person who is not subject to any obligation of confidentiality.

 

7.3                     Measures of Protection

 

Each of the Parties shall advise its directors, officers and employees having access to any Confidential Information of the existence and the requirements of Article 7.1 and formulate rules and regulations to cause its directors, officers and employees and the directors, officers and employees of its Affiliates to comply with the confidentiality obligations set forth in Article 7.1.  The Parties shall sign a confidentiality agreement with each of its directors, officers and employees who may have access to

 

6

 

any Confidential Information.

 

7.4                     Breach

 

If, without the prior written consent of the Party providing the Confidential Information, any Party discloses or permits or suffers to be disclosed any Confidential Information to any unauthorized third Person, such Party shall be in breach of this Contract and shall indemnify and hold the other Party harmless in accordance with Article 8.6(b) of this Contract, and the Party providing the Confidential Information shall have the right to terminate this Contract.

 

7.5                     Survival

 

The obligations of the Parties under this Article shall survive the expiration or any termination of this Contract for an additional period of six (6) years (unless the Parties agree in writing to a longer period) and shall continue to be binding during such additional period on the Parties and their respective successors and permitted assigns.

 

ARTICLE 8 - TERM, TERMINATION, BREACH

 

8.1                     Effective Date

 

Upon execution hereof by the duly authorized representatives of the Parties, this Contract shall become effective as of the date of this Contract.

 

8.2                     Term

 

This Contract, unless earlier terminated pursuant to the terms and conditions hereof, shall continue in full force and effect for a period consistent with the validity period of the trademark registrations of the Licensed Trademarks (as renewed, as applicable) (the “Term”).

 

8.3                     Termination

 

This Contract may be terminated by mutual written agreement of both Parties but may not be unilaterally terminated by Licensor.

 

8.4                     Upon Expiration or Termination

 

If this Contract expires or terminates for any reason in accordance herewith, Licensee shall (a) immediately cease using the Licensed Trademarks, (b) within fifteen (15) business days of the Licensor’s notice after the expiration or termination, return to Licensor or destroy, at Licensor’s option and at Licensee’s expense, any physical embodiments of the Licensed Trademarks, including, but not limited to, letterhead, envelopes, brochures, promotional information, printed materials and product packages (if any), and (c) shall not use at any time on any products or otherwise any word or term in any language, any symbol or label which may be deemed similar to any of the Licensed Trademarks.

 

8.5                     Continuing Obligations Upon Expiration or Termination

 

Upon expiration or termination of this Contract, neither Party shall have any further obligation to the other hereunder, but the expiration or termination shall not excuse either Party from (a) liabilities for a breach of this Contract, (b) obligations provided in Article 7, (c) obligations which by their terms are to be performed after the expiration or termination of this Contract and/or (d) any obligations or liabilities arising prior to or in connection with the expiration or termination.

 

7

 

8.6                     Breach

 

(a)                       A Party shall be in breach of this Contract if it fails to perform fully, or suspends its performance of, any of its material obligations under this Contract.  In the event of a breach of this Contract by either Party, and if such Party fails to correct such breach within thirty (30) days of its receipt of a written notice thereof from the other Party, the other Party shall have the right to terminate this Contract.

 

(b)                       If the non-breaching Party suffers any cost, liability or loss in connection with a breach of this Contract, the Party in breach shall indemnify and hold the non-breaching Party harmless in respect of any such cost, liability or loss incurred by the non-breaching Party, including, without limitation, interest paid or lost as a result of such breach, and reasonable attorneys’ fees and expenses.

 

ARTICLE 9 - GOVERNING LAW

 

The formation of this Contract, its validity, interpretation, execution and settlement of any disputes arising hereunder shall be governed by and constructed in accordance with the laws of the PRC.

 

ARTICLE 10 - DISPUTE RESOLUTION

 

10.1              Consultation

 

If a dispute arises from or in connection with this Contract, the Parties shall attempt in the first instance to resolve such dispute amicably through friendly consultation between the Parties.  The claiming Party shall promptly notify the other Party in a dated notice that a dispute has arisen and describe the nature of the dispute.

 

10.2              Arbitration

 

(a)                       If no settlement can be reached through such consultation within thirty (30) days after the date of such notice of dispute referred to in Article 10.1 above, the dispute shall be submitted to the Beijing Arbitration Committee in the PRC for arbitration.

 

(b)                       The arbitral award shall be final and binding upon the Parties and enforceable by any court having jurisdiction for this purpose.

 

(c)                        The Parties shall use their best efforts to effect the prompt execution of any such award and shall render whatever assistance as may be necessary to this end.  The arbitral award shall be enforced by any court of competent jurisdiction, if necessary.

 

(d)                       The losing Party shall be responsible for the costs of arbitration, including the fees of the arbitrators, the expenses of the arbitration proceedings and all costs and expenses of enforcement of any arbitral award.  The arbitration tribunal shall take reasonable attorneys’ fees and expenses into consideration in rendering any arbitral award in respect of such fees and expenses.

 

8

 

ARTICLE 11 - MISCELLANEOUS

 

11.1              No Agency/Partnership

 

Nothing in this Contract shall be construed so as to constitute either Party hereto the agent or partner of the other.  On no account may a Party create on behalf of the other Party (or hold itself out to a third Person as being able to create) any binding obligation without the prior written consent of the other.

 

11.2              Costs and Expenses

 

Each Party shall bear its own costs (including attorney’s fees) and expenses incurred in the preparation and execution of this Contract.

 

11.3              Amendment

 

Any amendments or modification to this Contract shall be effective only after a written amendment agreement is signed by the Parties, and Licensor shall record such amendment with the registration authorities.

 

11.4              Waiver

 

No delay or failure by either Party hereto to exercise any of its powers, rights or remedies under this Contract shall operate as a waiver of any of them, nor shall any single or partial exercise of any such powers, rights or remedies preclude any other.  Any waiver by any Party of any provisions of this Contract shall not be construed as a waiver of any other provision of this Contract, nor shall such waiver be construed as a waiver of such provision with respect to any other event or circumstances, whether past, present or future.  Further, the remedies provided for in this Contract are cumulative and not exclusive of any provided for by law.

 

11.5              Assignment and Transfer

 

Subject to Article 11.6, neither this Contract nor any of the rights and obligations arising hereunder may be assigned or transferred by either Party and any such purported assignment shall be null and void except that Licensor may assign this Contract and the rights and obligations arising hereunder to any of its Affiliates, provided that such Affiliate shall have the ability to continue to perform this Contract and Licensor shall inform Licensee of such assignment in advance.  Subject to the foregoing, all covenants, agreements, representations and indemnities contained in this Contract shall bind and inure to the benefit of the successors or permitted assigns.  Unless expressly provided by Article 11.6 and operated thereunder, Licensee shall have no right, and shall not attempt, to sub-license, convey or pledge any of the Licensed Trademarks licensed hereunder to any third Person (including its Affiliates).

 

11.6                        Sub-licensing

 

Licensee shall have the right to grant to its Subsidiaries and Affiliates a non-exclusive sub-license of any of its rights under this Contract, provided that (a) Licensee shall ensure that the terms of any non-exclusive sub-license are in writing and are substantially the same as the terms of this Contract (except that the sub-licensee shall not have the right to sub-license its rights) and Licensee shall provide Licensor with a copy of the non-exclusive sub-license on request; and (b) all non-exclusive sub-licenses granted shall terminate automatically on termination or expiry of this Contract.

 

11.7                        Notices

 

Notices and communications between the Parties hereunder (each a “Notice”) shall be in writing and shall be sent by personal delivery, prepaid airmail, prepaid air courier or facsimile to the Parties’

 

9

 

addresses set forth below.  Any Notice given by personal delivery shall be deemed to have been received on the date of receipt; any Notice given by airmail shall be deemed to have been received fifteen (15) days after it is sent; any Notice given by air courier shall be deemed to have been received ten (10) days after it is delivered to an air courier agent; and any Notice given by facsimile shall be deemed received after electronic answerback has been received and twenty-four (24) hours have elapsed at the place of the Party receiving such notice.

 

(a)                       in the case of Licensor to:

 

	
Address:
    	
17F, GIFC II, 1438 Hongqiao Road, Shanghai   200336, China
    
	
Facsimile:
    	
+86-21 61638808
    
	
Attention:
    	
Mr. SU Weili
    

 

(b)                       in the case of Licensee to:

 

	
Address:
    	
17F, GIFC II, 1438 Hongqiao Road, Shanghai   200336, China
    
	
Facsimile:
    	
+86-21 61638808
    
	
Attention:
    	
Mr. Andrew   Wang
    

 

During the Term of this Contract, either Party may change its address from time to time, provided that it shall notify the other Party of such change promptly in writing.

 

11.8                        Headings

 

The headings in this Contract are inserted for the convenience of reference only and shall not constitute part of this Contract or be taken into consideration in the interpretation or construction of this Contract.

 

11.9                        Severability

 

If any term or provision of this Contract shall be held to be invalid or unenforceable in whole or in part under any applicable law, it shall be excluded from this Contract (to the extent of such invalidity or unenforceability only), and all other terms and provisions of this Contract shall continue to be in full force and effect.  Under such circumstances, the Parties shall use their best efforts to implement both the letter and spirit of this Contract and replace the invalid or unenforceable term or provision with a valid and enforceable term or provision that corresponds as far as possible to the spirit and purpose of the invalid or unenforceable term or provision.

 

11.10                 Entire Agreement

 

This Contract, with its Schedule, constitutes the entire agreement between the Parties with respect to the subject matter, and supersedes all previous oral or written agreements, contracts, letters of intent, undertakings and communications between the Parties in respect of the subject matter of this Contract.  The Schedule hereto shall form an integral part of this Contract and shall be construed accordingly.

 

11.11                Binding Effect

 

This Contract shall constitute valid and binding obligations of both Parties, and the Parties shall perform all their respective obligations under this Contract strictly in accordance with the provisions hereof.

 

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IN WITNESS WHEREOF, the Parties have caused this Contract to be executed in three originals by their representatives, duly authorized hereunto, on the date first above written in Shanghai, the PRC.

 

 

	
天华阳光控股有限公司
    	
 
    	
Sky Power Holdings Ltd.
    
	
Sky Solar Holdings   Co., Ltd.
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Weili Su
    	
 
    	
By:
    	
/s/   Amy Zhang
    
	
Name:
    	
Weili Su
    	
 
    	
Name:
    	
Amy   Zhang
    
	
Title:
    	
 
    	
 
    	
Title:
    	
 
    

 

 

SCHEDULE A

 

The Licensed Trademarks

 

South Africa

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4
    	
 
    	
2010/22605
    	
 
    	
October 4, 2020
    
	

    	
 
    	
36
    	
 
    	
2010/22606
    	
 
    	
October 4, 2020
    

 

France

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4, 9, 36, 40, 42
    	
 
    	
103771678
    	
 
    	
October 5, 2020
    

 

Germany

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4, 36
    	
 
    	
60805/2010
    	
 
    	
October 11, 2020
    

 

South Korea

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
11
    	
 
    	
45-0038400
    	
 
    	
February 13, 2022
    

 

Africa

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
36
    	
 
    	
65997
    	
 
    	
May 30, 2021
    
	

    	
 
    	
4
    	
 
    	
65998
    	
 
    	
May 30, 2021
    

 

United Kingdom

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4, 36
    	
 
    	
2561051
    	
 
    	
July 18, 2021
    

 

 

Hong Kong

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4, 36
    	
 
    	
301723266
    	
 
    	
July 18, 2021
    

 

Portugal

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4, 36, 39, 40
    	
 
    	
475813
    	
 
    	
March 2, 2021
    

 

Tunisia

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4, 36
    	
 
    	
2001-36
    	
 
    	
November 29, 2011
    

 

Romania

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4, 36
    	
 
    	
113834
    	
 
    	
October 25, 2020
    

 

Australia

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4, 36
    	
 
    	
1387700
    	
 
    	
October 9, 2020
    

 

Greece

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4, 36
    	
 
    	
154730
    	
 
    	
November 3, 2020
    

 

Bulgaria

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4, 36
    	
 
    	
78921
    	
 
    	
October 15, 2020
    

 

 

Taiwan

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4, 36
    	
 
    	
01462420
    	
 
    	
June 15, 2020
    

 

Switzerland

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4, 36
    	
 
    	
610581
    	
 
    	
October 11, 2020
    

 

Belgium, Luxembourg, Netherlands

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4, 36
    	
 
    	
1212026
    	
 
    	
October 18, 2020
    

 

Japan

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
36, 40
    	
 
    	
5386702
    	
 
    	
January 28, 2021
    

 

Slovakia

 

	
Trademark
    	
 
    	
Class
    	
 
    	
Trademark No.
    	
 
    	
Expiry Date
    
	

    	
 
    	
4, 36
    	
 
    	
230438
    	
 
    	
August 15, 2021Exhibit 10.7

 

Promisor

(as defined in this Deed)

 

and

 

Sky Solar Holdings, Ltd.

 

 

Deed of Non-competition and Right of First Refusal

 

 

 

Table of Contents

 

	
 
    	
 
    	
Page Number
    
	
 
    	
 
    	
 
    
	
1.
    	
Definition
    	
1
    
	
 
    	
 
    	
 
    
	
2.
    	
Conditions   to Effectiveness
    	
3
    
	
 
    	
 
    	
 
    
	
3.
    	
Undertakings   of the Promisor
    	
4
    
	
 
    	
 
    	
 
    
	
4.
    	
Right   of First Refusal
    	
6
    
	
 
    	
 
    	
 
    
	
5.
    	
Exclusions
    	
7
    
	
 
    	
 
    	
 
    
	
6.
    	
Amendment
    	
8
    
	
 
    	
 
    	
 
    
	
7.
    	
Termination
    	
8
    
	
 
    	
 
    	
 
    
	
8.
    	
Severability
    	
8
    
	
 
    	
 
    	
 
    
	
9.
    	
Assignment   and Transfer
    	
8
    
	
 
    	
 
    	
 
    
	
10.
    	
Entire   Agreement
    	
9
    
	
 
    	
 
    	
 
    
	
11.
    	
Indemnification
    	
9
    
	
 
    	
 
    	
 
    
	
12.
    	
Notices
    	
9
    
	
 
    	
 
    	
 
    
	
13.
    	
Effectiveness
    	
10
    
	
 
    	
 
    	
 
    
	
14.
    	
Governing   Law and Dispute Resolution
    	
10
    

 

i

 

Deed of Non-competition

 

This Deed of Non-competition and Right of First Refusal (this “Deed”) is made on this 15th day of September, 2014 by and between:

 

(1)                                 Weili Su (苏维利, “the Founder”); and

 

(2)                                 Sky Solar Holdings, Ltd., a company incorporated under the laws of the Cayman Islands, with its registered address in the Cayman Islands being at Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman, KY1-1111, Cayman Island (the “Listco”).

 

The party set forth in item (1) above shall hereinafter be referred to as the “Promisor.”

The Promisor agrees to make the following undertakings and covenants to the Listco in accordance with the terms and conditions of this Deed.

 

1.                                      Definition

 

1.1                               For purposes of this Deed, unless otherwise required by the context, the following terms shall have the meanings as set forth below:

 

	
“Subsidiary”
    	
 
    	
of an individual or   company, means the fact that such individual or company (i) owns more   than 50% of the voting rights of the Subsidiary, (ii) is a member of, or   has the right to appoint or remove more than 50% of the members of the board   of directors of, the Subsidiary, or (iii) is a member of the Subsidiary,   and solely controls more than 50% of the voting rights of the Subsidiary or   has the right to exert a controlling influence on the Subsidiary pursuant to   an agreement with the other shareholders or members of the Subsidiary;
    
	
 
    	
 
    	
 
    	
 
    
	
“Associate”
    	
 
    	
of an individual   includes (i) his/her spouse, (ii) his/her (or his/her spouse’s)   child or step-child, natural or adopted, under the age of 18 years,   (iii) the trustees, acting in   their capacity as trustees of any trust of which the individual or his/her   immediate family member is a beneficiary or, in the case of a discretionary   trust, is (to his/her knowledge) a discretionary, or (iv) a company in   which such individual or family interests, and/or the trustees described in   Item (iii) above, acting in their capacity as trustees, own equity interests,   whether directly or indirectly, which when aggregated, are sufficient to   enable such individual, the family interests and the trustees described   above, when acting as a whole, to exercise or control an exercise of 30% or   more of the voting rights at a shareholder meeting of such company, or   control a majority of the members of the board of directors and any   Subsidiary of such company;
    
				

 

1

 

	
“PRC” or “China”
    	
 
    	
means the People’s   Republic of China, which for purposes hereof, shall exclude the Hong Kong   Special Administrative Region, the Macau Special Administrative Region and   Taiwan;
    
	
 
    	
 
    	
 
    	
 
    
	
“Hong Kong”
    	
 
    	
means the Hong Kong   Special Administrative Region of the PRC;
    
	
 
    	
 
    	
 
    	
 
    
	
“Prospectus”
    	
 
    	
means the   prospectus prepared by the Listco in connection with the initial public   offering and listing of its shares on the NASDAQ Global Select Market;
    
	
 
    	
 
    	
 
    	
 
    
	
“Non-competition Period”
    	
 
    	
means the period   during which (i) the shares of the Listco are listed and traded on, and   not de-listed from, the NASDAQ Global Select Market, (ii) the Promisor   (or any of his Associates) holds, whether directly or indirectly, the largest   block of equity interests in the Listco, and (iii) no agreement on   termination of this Deed is reached between the parties hereto;
    
	
 
    	
 
    	
 
    	
 
    
	
“ROFR Period”
    	
 
    	
means the period   during which (i) the shares of the Listco are listed and traded on, and   the Listco is not de-listed from, the NASDAQ Global Select Market, and   (ii) no agreement on termination of this Deed is reached between the parties   hereto;
    
	
 
    	
 
    	
 
    	
 
    
	
“RMB”
    	
 
    	
means the lawful   currency of China;
    
	
 
    	
 
    	
 
    	
 
    
	
“Restricted Business”
    	
 
    	
means (i) the business of providing PV solutions by the Listco through   (A) solar energy system sale, (B) IPP, (C) O&M,   (D) sales of solar modules (each of the business models of   (A) through (D) as defined in the Prospectus), or (E) any   combination of any of the aforesaid business models, in each case, other than   the China Businesses and the China New Era Overseas Business, and   (ii) any other business from time to time conducted, carried out or   contemplated to be carried out by the Listco or in which the Listco is   engaged or has invested or which the Listco has otherwise publicly announced   its intention to enter into, engage in or invest in (whether as principal or   agent and whether undertaken directly or through any corporation,   partnership, joint venture, or other contractual or other arrangement);
    
	
 
    	
 
    	
 
    	
 
    
	
“China Business” or   “China Businesses” (including all the assets thereof)
    	
 
    	
means (i) 

the equity interests in Beijing Sky Solar   Investment and Management Co., Ltd. (北京天华阳光投资管理有限公司) and its Subsidiaries;  

(ii) any other businesses in China, more than 50% equity interests   in 
    

 

2

 

	
 
    	
 
    	
which are owned by the Promisor from time to time, directly or indirectly, either on its own account   or in conjunction with or on behalf of any natural person or legal person   (whether enterprise or institutional legal person), whether as a shareholder, director, partner, trustee, employee or   otherwise, and whether, and which compete or are   likely to compete, directly or indirectly, with the Restricted Business (if   such Restricted Business is carried out in China); 

for the purpose of items (i) and   (ii) in this paragraph, including all the equity interests in and all   the assets of any company whose businesses comprise   solely of such business(each a “China   Business” and collectively, the “China   Businesses”).
    
	
 
    	
 
    	
 
    	
 
    
	
“China New Era Overseas Business”
    	
 
    	
means any business engaged in by China New Era International Limited (中新国际(香港)有限公司) or its Subsidiaries outside of China on the date of effectiveness of   this Deed;
    
	
 
    	
 
    	
 
    	
 
    
	
“Underwriter”
    	
 
    	
means an   underwriter who enters into an underwriting agreement with the Listco in   connection with the initial public offering and listing of shares of the   Listco on the NASDAQ Global Select Market; and
    
	
 
    	
 
    	
 
    	
 
    
	
“Underwriting Agreement”
    	
 
    	
means an   underwriting agreement for U.S. public offering entered into by and between   the Listco and an Underwriter in connection with the initial public offering   and listing of shares of the Listco on the NASDAQ Global Select Market.
    
	
 
    	
 
    	
 
    	
 
    
	
“control”
    	
 
    	
means the   possession, directly or indirectly, of the power to direct the management or   policies of an entity whether such power is exercised through one or more   intermediary companies or pursuant to an agreement, written or oral, and   whether such power is established through ownership or voting of securities,   or common directors, officers, or stockholders, or voting trusts, holding   trusts, or debt holdings, or contract, or any other direct or indirect means.
    

 

1.2                               Headings inserted in this Deed are for reference only, and shall not constitute a part of this Deed, or limit, modify, amplify or otherwise affect the interpretation of any provision of this Deed.

 

1.3                               Unless otherwise indicated, schedules to this Deed shall constitute a part of this Deed.

 

1.4                               Any law, statute, rule or regulation referred to in this Deed shall mean such law, statute, rule or regulation as amended, developed or reenacted from time to time.

 

3

 

2.                                      Conditions to Effectiveness

 

2.1                               The effectiveness of this Deed shall be subject to the satisfaction of each and all of the following conditions:

 

2.1.1                     the NASDAQ Global Select Market has granted its approval to the listing and trading on the NASDAQ Global Select Market of all the shares proposed to be issued by the Listco;

 

2.1.2                     each and all of the conditions precedent under each Underwriting Agreement have been satisfied or waived by the relevant Underwriter, or each and all of the obligations of each Underwriter under the relevant Underwriting Agreement have become unconditional obligations, and the Underwriting Agreement has been terminated in accordance with the provisions therein or otherwise; and

 

2.1.3                     all the shares proposed to be issued by the Listco become listed and traded on the NASDAQ Global Select Market.

 

2.2                               In the event that any of the conditions set forth in Section 2.1 above fails to be satisfied on or prior to December 31, 2014 or any other date agreed between the parties hereto in accordance with this Deed, this Deed shall terminate forthwith, and neither party hereto shall have any liability to the other.

 

3.                                      Undertakings of the Promisor

 

3.1                               The Promisor hereby irrevocably undertakes and covenants to the Listco and its Subsidiaries that, other than those exclusions described in Article 5 herein below, during the Non-competition Period, the Promisor will not, and will cause his Associates (other than the Listco and his Subsidiaries) not to, directly or indirectly, either on his/her/its own account or in conjunction with or on behalf of any natural person, legal person (whether enterprise or institutional legal person), partnership or organization (including economic and non-economic organizations), in any form, including, without limitation, association, joint venture, cooperation, partnership, contract and lease arrangements, agency, equity and debt arrangements, trust, nomination, employment or otherwise, invest in, participate in, carry out, and/or be engaged in any Restricted Business.

 

3.2                               The Promisor hereby irrevocably undertakes and covenants to the Listco and its Subsidiaries that, subject to Article 5 herein below, during the Non-competition Period, the Promisor will not, and will cause his Associates (other than the Listco and his Subsidiaries) not to, directly or indirectly, in any form, including without limitation to association, joint venture, cooperation, partnership, or equity and debt arrangements, trust, nomination, employment or otherwise, invest in or own any form of interest in any company or enterprise that engages in any Restricted Business.

 

3.3                               The Promisor hereby irrevocably undertakes and covenants to the Listco and its Subsidiaries that, during the Non-competition Period, the Promisor will not, and will cause his Associates (other than the Listco and his Subsidiaries) not to, directly or indirectly engage in any act that would adversely affect the interest of the Listco or any of its Subsidiaries or induce or entice any of the customers and suppliers of the

 

4

 

Listco and/or any of its Subsidiaries to cease conducting business with the Listco and/or any of its Subsidiaries.

 

3.4                               The Promisor hereby irrevocably represents and undertakes to the Listco and its Subsidiaries that, other than those exclusions described in Article 5 herein below, on the date of effectiveness of this Deed, none of the Promisor or any of his Associates (other than the Listco and its Subsidiaries) engages in any Restricted Business or activities, or owns any direct or indirect interests in any company or enterprise that is or may be in direct competition with the Listco and/or any of its Subsidiaries.  If any business opportunity that falls into the category of the Restricted Business (each an “Opportunity” and collectively the “Opportunities”) is given or offered to the Promisor or any of his Associates (other than the Listco and its Subsidiaries), he is required to, and shall procure his Associates (other than the Listco and its Subsidiaries), to give written notice to the Listco of such Opportunity (the “Opportunity Notice”), and assist the Listco and/or its Subsidiaries to pursue such Opportunity on the terms and conditions which are not less favorable than those obtained by it or on the terms and conditions acceptable to Listco and/or its Subsidiaries.

 

3.5                               The Promisor hereby covenants that it will provide the Listco and/or its Subsidiaries with all information necessary for it and/or them to exercise its and/or their rights hereunder, and any information regarding the Restricted Business, any information obtained by the Promisor in relation to the business proposed to be listed, and any information regarding any Opportunity or activity in which the Promisor intends to participate, to enable the Listco to decide whether to exercise any of its rights under this Deed.  The Promisor further undertakes to make an annual declaration on compliance with its undertaking under this Deed, which shall be contained in the annual reports of the Listco.

 

3.6                               The Promisor hereby covenants that he will, and will cause his Associates to, offer the Listco and/or its Subsidiaries terms that are fair and equal as those offered to his Associates, with respect to any possible transaction between the Promisor or any of his Associates on the one hand and the Listco and/or any of its Subsidiaries on the other hand, unless otherwise specified in the restructuring documents in preparation for the listing of the Listco’s shares.

 

3.7                               None of the undertakings or covenants of the Promisor in relation to the Restricted Business shall restrict the holding by the Promisor or any of his Associates of any shares in, or the exercise by the Promisor or any of his Associates of any shareholder right with respect to, the Listco and/or any of its Subsidiaries.

 

3.8                               The parties hereto may enter into a supplemental deed to make reasonable, appropriate and necessary modifications to the foregoing undertakings and covenants in relation to the Restricted Business so as to protect the interests of the Listco and/or its Subsidiaries.

 

3.9                               The Promisor undertakes and covenants that on the date of execution of this Deed, each of the following representations is true and accurate, and is not breached or misleading in any way:

 

5

 

3.9.1                     the Promisor shall be a natural person who possesses the capacity to perform civil acts under applicable laws, or a legal entity duly established and validly existing;

 

3.9.2                     the Promisor shall possess all the right, power and authority to execute and perform his obligations hereunder, and have obtained or filed any and all the internal corporate consents (including the consents from all the relevant member companies), approvals, registrations, waivers, or notices, if applicable, necessary for his execution of this Deed;

 

3.9.3                     his authorized representative whose signature will be affixed onto this Deed shall have been fully authorized to sign this Deed under an effective power of attorney and relevant resolutions of the board or of the shareholder meeting, if applicable; and

 

3.9.4                     This Deed shall become legally effective and binding upon the Promisor upon being signed by the Promisor or his authorized representative.

 

4.                                      Right of First Refusal

 

4.1                               The Promisor hereby unconditionally and irrevocably grants the Listco a right of first refusal (the “ROFR”) to purchase any China Business.  If at any time during the ROFR Period, the Promisor receives from or otherwise negotiates with a third party an offer to purchase any equity interests in a China Business for which consideration will be actually paid (an “Offer”, for the avoidance of doubt, excluding any offer which results or are likely to result in any transaction that does not involve any change of beneficial ownership  of the Promisor in relation to the China Businesses) and which will result in the Promisor ceasing to have control of any China Business, and the Promisor intends to sell such equity interests in such China Business to such third party, the Promisor shall promptly give written notice to the Listco of such Offer (an “Offer Notice”).  For the avoidance of doubt, if the Promisor receives from or otherwise negotiates with a third party an offer to purchase any equity interests in a China Business for which consideration will be actually paid, as long as the performance of such Offer will not result in the Promisor ceasing to have control of the relevant China Business, the Promisor shall not have the obligation to grant the Listco an ROFR to purchase the equity interests in such China Business.

 

4.2                               An Offer Notice shall set forth the identity of the third party making the Offer, the scope of the China Business covered by the Offer, the amount of the offered price (the “Offer Price”) and the proposed form of payment of the Offer Price, and any other material terms and conditions mentioned in the Offer.

 

4.3                               An Offer Notice, upon being received by the Listco, shall constitute an Offer of the Promisor to sell the relevant China Business to the Listco at the Offer Price, which offer shall remain effective and irrevocable within 30 days of the receipt of such Offer Notice by the Listo (the “Offer Period”).  Prior to the expiration of the Offer Period,

 

6

 

the Listco shall have the right but no obligation to notify the Promisor in writing that it accepts such Offer and will purchase the relevant China Business.

 

4.4                               Upon receipt by the Promisor of the written notice from the Listco indicating its intention to accept the Offer as described in Section 4.3 above, the Promisor shall sell to the Listco, and the Listco shall purchase from the Promisor, the equity interests in the relevant China Business at the Offer Price which shall be payable pursuant to the terms set forth in the Offer Notice.  Where the Offer Price includes any non-cash consideration of which the fair value cannot be agreed upon between the Promisor and the Listco, such fair value shall be determined by an independent valuer jointly engaged by the Listco and the Promisor.  Within 90 days as from the expiration of the Offer Period, the Promisor and the Listco shall make reasonable efforts to take or cause to be taken all actions, to do or cause to be done and cooperate with each other to do all things, necessary, proper or advisable under applicable law, as may be required to consummation the sale of the relevant China Business to the Listco.

 

4.5                               The Promisor and the Listco hereby agree that the term to exercise the ROFR (the “ROFR Exercise Period”) shall be from the date on which this Deed becomes effective to the date of termination of this Deed.  Upon expiration of the ROFR Exercise Period, the ROFR granted by the Promisor and the restrictions imposed thereon shall expire and terminate automatically.

 

5.                                      Exclusions

 

5.1                               The Promisor and his Associates may own shares or any other securities in any company (an “Excluded Company”) that is listed on any legally recognized stock exchange in any relevant jurisdiction, including a stock exchange recognized under the PRC law and engages or participates in any Restricted Business, in case:

 

5.1.1                     As reflected in the most recent audited accounts of the Excluded Company prepared in accordance with the relevant accounting principles (where the Excluded Company has both non-consolidated and consolidated accounts, the consolidated accounts shall prevail), the revenue generated by the business same as or similar to the Restricted Business represents no more than 10% of the total revenue of the Excluded Company, or the net assets involved in such business represent no more than 10% of the total assets of the Excluded Company; or

 

5.1.2                     the aggregate shares held by the Promisor and his Associates as a whole in the Excluded Company represent no more than 5% of the issued capital stock of the Excluded Company; none of the Promisor, any of his Associates, or the Promisor and any of his Associates as a whole has the right to appoint more than 50% of the directors of the board of the Excluded Company; and the Excluded Company has at all times at least another shareholder whose shareholding in the Excluded Company is larger than the aggregate shareholding of the Promisor and his Associates as a whole in the Excluded Company.

 

7

 

5.2                               Each of the Promisor and his Associates may continue to conduct through China New Era International Limited and its Subsidiaries any China New Era Overseas Business that is already being conducted by him/her/it on the date of effectiveness of this Deed.  The Promisor undertakes that it will no longer participate in any business newly engaged in by China New Era International Limited and its Subsidiaries outside of China after the date of effectiveness of this Deed.

 

5.3                               In the event that the Listco first receives an Offer or is first given an opportunity to invest in, participate in, engage in on its own account, and/or conduct in conjunction with any third party any Restricted Business, and as requested by the Listco, such Offer includes (i) the terms on which the Listco will cooperate with such third party, or (ii) the terms on which the Listo and the Promisor and/or his Associates will jointly conduct the Restricted Business, the Listco has, after review and approval by its independent non-executive directors, refuses to invest in, participate in, engage in on its own account, and/or conduct in conjunction with any third party or the Promisor and his Associates such Restricted Business, the Promisor and/or his Associates shall have the right to conduct such Restricted Business in the way as described above.  In the event that the Listco has decided to invest in, participate in, engage in, and/or conduct such Restricted Business in conjunction with the Promisor and/or any of his Associates, the Promisor and/or any of his Associates may conduct such Restricted in conjunction with the Listco.

 

6.                                      Amendment

 

Without prior written consent of the other party hereto, any amendment to this Deed by either party shall be invalid.

 

7.                                      Termination

 

This Deed shall terminate upon (i) any de-listing of the Listco from the NASDAQ Global Select Market, other than any suspension of trading of the shares of the Listco for any reason, or (ii) the reaching of an agreement between the parties hereto to terminate this Deed, whichever earlier.

 

Notwithstanding the foregoing, the Promisor’s non-competition undertakings and covenants set out in Article 3 herein above shall terminate upon the Promisor’s cessation to be the largest shareholder of the Listco.

 

8.                                      Severability

 

Other than Article 2 hereof, in the event that any term or provision of this Deed is held to be illegal or unenforceable in whole or in part by any law or regulation, such term or provision shall be deemed not a part of this Deed to the extent thereof, and the validity and enforceability of the remaining terms and provisions of this Deed shall not be affected thereby.  Such term or provision may also be enforceable after deletion or modification to the extent of becoming valid or enforceable.

 

8

 

9.                                      Assignment and Transfer

 

This Deed shall be binding upon and enforceable against the parties hereto and their respective successors and permitted assigns.  Without prior written of the other party, neither party hereto may assign any of his/its rights or obligations hereunder.

 

10.                               Entire Agreement

 

This Deed shall constitute the entire understanding and agreement, and supersede any and all the prior agreements, between the parties in respect of the subject matters hereof.

 

11.                               Indemnification

 

The Promisor agrees to indemnify the Listco and/or any of its Subsidiaries against any and all the losses, including without limitation, loss of business, damages and expenses suffered by the Listco and/or any of its Subsidiaries as a result of any breach by the Promisor of any of his undertakings or covenants contained herein or any of the representations of the Promisor contained herein being not true, not correct or misleading.

 

The Listco shall promptly notify the Promisor of any breach of this Deed by the Promisor and/or any of his Associates (other than the Listco and its Subsidiaries) upon its being aware of the same, and the Promisor and/or his relevant Associates shall take immediate actions to correct such breach, including without limitation, within the shortest period reasonably practicable, ceasing the operation of, and transferring to the Listco, or any third party where the Listo has expressly indicated that it will not purchase, the relevant Restricted Business.

 

12.                               Notices

 

12.1                        Any notices or other communications sent or made hereunder shall be in writing and delivered in person or by registered mail (postage prepaid) to the following address or transmitted to the following fax number:

 

(1)                                 If to the Promisor:

Address: Unit 827, 8/F, Ocean Centre

Harbour City, 5 Canton Rd,

TST, Kowloon, Hong Kong

Fax Number: 

Attention: Weili Su

 

(2)                                 If to the Listco:

Sky Solar Holdings, Ltd.

Suite 1604, 9 Queen’s Road

Central, Hong Kong

Fax Number: +852 2107 3199

Attention: Amy (Yi) Zhang

 

12.2                        A notice or any other communication shall be deemed duly given (i) upon confirmation by the fax machine of the sending party that such notice or other communication has been transmitted to the fax machine of the receiving party if delivered by fax; (ii) two working days (referring to a day that is a business day for commercial banks in Hong Kong and China, other than Saturday) after being delivered to the postal service if delivered by mail; or (iii) upon receipt if delivered in person.

 

9

 

13.                               Effectiveness

 

13.1                        This Deed shall be executed in Chinese in two (2) counterparts, with each party hereto to hold one.

 

13.2                        This Deed shall take effect upon being affixed with the appropriate signature and seals.

 

14.                               Governing Law and Dispute Resolution

 

14.1                        All the rights and obligations of each party hereto under this Deed shall be governed by and construed in accordance with the laws of Hong Kong, and each party hereto shall submit him/itself to the non-exclusive jurisdiction of the competent courts in Hong Kong with respect to any and all the disputes or litigations arising from this Deed.

 

14.2                        The Promisor hereby irrevocably appoints Sky Solar (HK) International Co. (address: Unit 827, 8/F, Ocean Centre, Harbour City, 5 Canton Rd, TST, Kowloon, Hong Kong) as his agent to receive the service of any notice, decree, subpoena, writ, judgment or communication, and further agrees that any such legal documents or notices served upon such agent at the current address of such agent shall be deemed duly served upon the Promisor.

 

10

 

	
Executed as a deed   by 
    	
 
    	
)
    
	
/s/ Weili Su
    	
 
    	
)
    
	
 
    	
 
    	
)
    
	
witness: 
    	
/s/ Dave Wallace
    	
 
    	
)
    
	
 
    	
 
    	
 
    
	
Executed as a deed   by 
    	
 
    	
)
    
	
/s/ Amy (Yi) Zhang
    	
 
    	
)
    
	
 
    	
 
    	
)
    
	
witness: 
    	
/s/ Dave Wallace
    	
 
    	
)
    

 

11

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