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Real Estate Joint Venture Clauses

This document discusses proposed modifications to existing clauses and addition of new clauses in various agreements. It includes: 1. Modifying the definition of "Gross Sales Revenue" in the CADA and SCP to include any upfront lease premium received for long term lease of developed plots. 2. Adding a new clause in the CADA and SCP to lock in the 50% stake each of Ascendas-Singbridge Pte. Ltd and Sembcorp Development Ltd. in the JVC for 5 years without dilution unless agreed otherwise in writing. 3. Modifying the clause in Annex 4 of the CADA to fix the reserve price for Phase 1 of the project at INR 4.00 Cr

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142 views5 pages

Real Estate Joint Venture Clauses

This document discusses proposed modifications to existing clauses and addition of new clauses in various agreements. It includes: 1. Modifying the definition of "Gross Sales Revenue" in the CADA and SCP to include any upfront lease premium received for long term lease of developed plots. 2. Adding a new clause in the CADA and SCP to lock in the 50% stake each of Ascendas-Singbridge Pte. Ltd and Sembcorp Development Ltd. in the JVC for 5 years without dilution unless agreed otherwise in writing. 3. Modifying the clause in Annex 4 of the CADA to fix the reserve price for Phase 1 of the project at INR 4.00 Cr

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Telugu360
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd

Sr.

No.
3.

Point of discussion
Definition of the term
Gross Sales
Revenue
(Modification to Serial
No. 27 in the
Addendum dated 30
May, 2016)

CADA Clause
number
New Clause to
be added in
CADA & SCP
as applicable

Particulars
Current Text
"Gross Sales Revenue" means the entire undisputed
amount received by ADP from sale of developed
plots of land in accordance with this Agreement
pursuant to the registered Conveyance Deed in
favour of third party (ies).
Proposed Revised Text

4.

5.

Lock-in of Singapore
Consortium
(Addition to Serial No.
27 in the Addendum
dated 30 May, 2016)

New Clause to
be inserted in
CADA (as
Clause 3.3A) &
SCP as
applicable

Inclusion of Phase 1
reserve price
(Modification to Serial
No. 6 in the
Addendum dated 30
May, 2016)

Clause 9.2 (i) of


Annex 4
Business Plan
section
(consequential
changes in SCP,
CADA and SHA

Gross Sales Revenue means the entire undisputed


amount received by ADP from sale of developed
plots of land or any upfront lease premium received
by ADP for long term lease of developed plots, in
favour of third party (ies).
Proposed Clause
Ascendas-Singbridge Pte. Ltd and Sembcorp
Development Ltd. shall each hold a stake of 50%
(and together hold a stake of 100% in the JVC) in the
JVC and shall not dilute their stake in the JVC, up to
5 (five) years from date of execution of this
Agreement, unless otherwise agreed in writing by the
parties.
Current Text:
The reserve price for Phase 1 is fixed at INR ______
Cr./ Acre. The reserve price computation is based
upon the following components.
SC to provide the amount for Phase 1 reserve price.
Proposed Text:
The reserve price for Phase 1 is fixed at INR 4.00
Cr./ Acre. The reserve price computation is based
upon the following components.

SHA:
Sr. No.
1.

Point of
discussion
Shareholding
Rights of
CCDMCL

SHA Clause
number
New Clause 4.6
to be inserted

Particulars
Proposed Text
CCDMCL shall be entitled to exercise all rights as are
available under Applicable Laws to a shareholder holding
less than 50% shareholding including the right of approval
in relation to all matters that are required to be passed vide
a Special Resolution under the provisions of the
Companies Act, 2013 and nothing contained in this
Agreement shall be deemed to prejudice or restrict such
rights of CCDMCL.

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