文稿a-集裝箱運輸

11DecemberCHINASHIPCONTAINERLINES(中海集裝箱運輸()COSCOCONTAINERLINES()(中遠集運()forthesaleandpurchaseofsharesCHINASHIPCONTAINERLINES()CO.,(中海集裝箱運輸() SALEAND CONDITIONSTO PRE-CLOSING REPRESENTATIONS,WARRANTIESAND LIMITATIONSON COSTSAND FURTHER WITHOTHERAGREEMENTS WHOLE WAIVERS,RIGHTSAND THIRDPARTYENFORCEMENT ERNINGLAWAND SCHEDULE DETAILSOFTHESCHEDULE CLOSING SCHEDULE SCHEDULE DEFINITIONSAND THISAGREEMENT(theAgreement)ismadeon11December2015CHINA CONTAINERLINES()CO.,LIMITED(海集裝箱運輸()),acompanyincorporatedunderthelawsofHongKong,whoseregisteredofficeisat31/F,Tower2,,CommerceCentre,51KwaiCheongRoad,KwaiChung,NewTerritories,(CSHKortheSeller);COSCOCONTAINERLINES()CO.,LIMITED(中遠集運（港）),acompanyincorporatedunderthelawsofHongKongwhoseregisteredofficeisatRoom4808,48/F,COSCOTower,183Queen’sRoadCentral,(thePurchaser).(eachaParty,andcollectivelytheCHINASHIPCONTAINERLINES )AGENCYLIMITED(中海集裝箱運輸（） )(the )isacompanyincorporatedunderthelawsof,withitsregisteredaddressat31/F,TowerCommerceCentre,51KwaiCheongRoad,KwaiChung,NewTerritories,.Asofthedatehereof,thesharecapitaloftheconsistsof10,000,000ordinaryTheSelleristhelegalandbeneficialownerof10,000,000sharesinthe(theSaleShares),representing100%ofthesharecapitalofthe.TheSellerintendstoselltothePurchaser,andthePurchaserintendstopurchasefromtheSeller,theSaleShares.THEPARTIESAGREEASSALEANDTheSellershallsell,andthePurchasershallpurchase,theSaleSharesfreefromThirdPartyRightswitheffectfromClosingandwithallrightsattachingtothemincludingtherighttoreceivealldistributionsanddividendsdeclared,paidormadeinrespectoftheSaleSharesafterClosing.TheSellerhastherighttotransfer,orprocurethetransferof,thelegalandbeneficialtitletotheSaleSharestothePurchaser.ThesaleandpurchaseoftheSaleSharesshallbeonthetermssetoutinthisThepricefortheSaleSharesshallbeanamountofRMB35,670,600(the(minusPre-ClosingDividend,ifany)whichshallbepayablebythePurchaseronThePricewasdeterminedbasedonthevaluationoftheattheValuationDateandshallbepayableintheequivalentUS$amountbasedontheexchangerateannouncedbythePeople’sBankofChinaontheValuationDate.TheSellermay,onadatethatisatleast10BusinessDayspriortotheClosingDate,subjecttoapplicablelaw,procurethetodeclareandpayadividendofanamountnogreaterthantheamountofitsretainedearningsasat30September2015(the“Pre-ClosingDividend),providedthat(i)thePre-ClosingDividendmustonlybemadeoncebythe;(ii)theSellermustnotifythePurchaserofthedeclarationofthePre-ClosingDividendonthedayonwhichthePre-ClosingDividendisdeclared;(iii)thePre-ClosingDividendshallonlybepaidfromcashheldbytheasat30September2015;and(iv)thePre-ClosingDividendshallnotbefundedbytheproceedsfromanyfinancialindebtednessincurredafter30September2015.ThePartiesagreethat,accordingtothevaluationreportissuedbyChinaTongChengAppraisalCo.,.on11December2015,thevaluationofthe100%equityinterestintheasattheValuationDateisRMB35,670,600.If,afterthefilingofthevaluationreportwiththerelevantstate-ownedassetssupervisionandadministrationauthoritiesortheirauthorizedbodies,thereisanychangeoradjustmenttothevaluation,thePartiesagreetonegotiateingoodfaithtoagreeonadjustmentstotheconsiderationpayablebythePurchaserfortheSaleSharesatClosingandanyotherconsequentialamendmentstotheprovisionsofthisAgreementthatmaybenecessaryinrelationtosuchchangeoradjustmenttothevaluation.CONDITIONSTOClosingshallbeconditionaltheConditionsspecifiedinClause3.2(theSellerConditions)havingbeenfulfilledbytheSellerorwaivedinaccordancewiththisAgreement;andtheConditionsspecifiedinClause3.3(thePurchaserConditions)havingbeenfulfilledbythePurchaserorwaivedinaccordancewiththisAgreement.TheSellerConditionsareasresolutionsoftheshareholdersofCSCLshallhavebeenpassedapprovingtheProposedTransactionsinaccordancewithShanghaiListingRulesandHongKongListingRules;theCSCLAssetRestructuringhavingreceivedallnecessaryfilings,approvalsandconsents,andnopartoftheCSCLAssetRestructuringhavingbeenterminatedorsimilareventhavingoccurred;representationsandwarranties:eachofthePurchaserWarrantiesshallbetrueandaccurateinmaterialrespectsasofthedatehereofandasattheClosingDate;ThePurchaserConditionsareasresolutionsoftheshareholdersofChinaCOSCOhavingbeenpassedapprovingtheProposedTransactionsinaccordancewithShanghaiListingRulesandHongKongListingRules;theCOSCOAssetRestructuringhavingreceivedallnecessaryfilings,approvalsandconsents,andnopartoftheCOSCOAssetRestructuringhavingbeenterminatedorsimilareventhavingoccurred;saveasdisclosedtothePurchaser,nomaterialadversechangetothe’sbusiness,operations,assetsandliabilitiessinceValuationDate;representationsandwarranties:eachoftheSellerWarrantiesshallbetrueandaccurateinmaterialrespectsasofthedatehereofandasattheClosingDate;theSellerhavingperformedorcompliedwith,inallmaterialrespects,allofitsundertakingsandobligationsunderClause4requiredtobeperformedorcompliedwithpriortoClosing.TheSellershall,atitsowncost,useallreasonableeffortstoensurethattheConditionssetoutinClauses3.2(a),3.2(b),3.3(c)to(e)arefulfilledassoonaspossibleafterthedateofthisAgreement,andshallnotifythePurchaserpromptly ingawarethatanysuchConditionhasbeenfulfilledandprovidethePurchaserwithevidenceofsuchfulfilmentassoonaspossible.ThePurchasershall,atitsowncost,useallreasonableeffortstoensurethattheConditionssetoutinClauses3.2(c),3.3(a)and3.3(b)arefulfilledassoonaspossibleafterthedateofthisAgreement,andshallnotifytheSellerpromptlyupon awarethatanyPurchaserConditionhasbeenfulfilledandprovidetheSellerwithevidenceofsuchfulfilmentassoonaspossible.ThePurchasershallbeentitled,initsabsolutediscretion,bywrittennoticetotheSeller,towaiveanyofthePurchaserConditionseitherinwholeorinpart(exceptforconditions3.2(a)and(b)),andtheSellershallbeentitled,initsabsolutediscretion,bywrittennoticetothePurchaser,towaiveanyoftheSellerConditionseitherinwholeorinpart(exceptforconditions3.3(a)and(b)).TheBusinessDayonorbywhichallConditionshavebeenfulfilled(orwaivedinaccordancewithClauses3.1and3.6)istheUnconditionalDate.IftheUnconditionalDatehasnotoccurredonorbefore31December2016(theLongStopDate)(orsuchlaterdateasthePartiesmayagreeinwriting),thisAgreementshallautomaticallyterminate(otherthaninrespectoftheSurvivingProvisions).Insuchevent,neitherParty(noranyofitsAffiliates)shallhaveanyclaimunderthisAgreementofanynaturewhatsoeveragainsttheotherParty(oranyofitsAffiliates)exceptinrespectofanyrightsandliabilitieswhichhaveaccruedbeforeterminationorunderanyoftheSurvivingProvisions.PRE-CLOSINGPendingClosing,theSeller(totheextentlawfullypermittedandthatthedirectorsof willnotbreachtheirownfiduciaryduties)shalluseallreasonableeffortstomakesurethat,thebusinessofthebeconductedintheordinarycourseofbusiness.TheSellershallusereasonableeffortstopreservethestructuralintegrityoftheandmaintainitsmaterialexistingrelationshipswithcustomers,rs,creditors,businesspartnersandothershavingbusinesscontactswiththemsothatontheClosingDatetheirbusinesscontinuitywillnotbedamaged.Withoutlimitingtheabove,theSellershallprocurethatthecomplieswiththeremainingprovisionsofthisclause4.Nodividendorotherdistributionshallbedeclared,paidormadebythewithoutpriorwrittenconsentofthePurchaser,exceptforthePre-ClosingDividend.NoamendmentsshallbemadetoanyConstitutional softhewithoutthepriorwrittenconsentofthePurchaser.Theshallnotgrantanyconsentorwaiverinrelationtoanymatters(howeverdescribed)pursuanttoanyshareholders’agreement,jointventureagreementorarticlesorassociationthatareapplicabletothewithoutpriorwrittenconsentofthePurchaser.Theshallnotenterintoanycontract(whetherinrelationtoadisposal,acquisitionorotherwise)orcommitmentwithavalueexceedingUS$5,000,000withoutpriorwrittenconsentofthePurchaser.TheshallnotincreasetheemolumentsofanyemployeeotherthaninaccordancewiththenormalpracticeofthewithoutpriorwrittenconsentoftheTheshallnottransferorsurrenderanyassetto,orassume,indemnifyorincuranyliability,forthebenefitoftheSelleroranymemberoftheSellerGroupwithoutpriorwrittenconsentofthePurchaser.Theshallnotpassanydirectors’resolutionoranyshareholders’resolutioninrelationtoanywinding-upofthewithoutpriorwrittenconsentoftheTheshallnotcreate,allotorissueanyshares,loancapital,securitiesconvertibleintosharesoftheoranyoptionorrighttosubscribeinrespectofanysharesofthe,loancapitalorshareoptionorsubscriptionrightrelatedwithsecuritiesconvertibleintosharesofthewithoutpriorwrittenconsentoftheExcept(a)theProposedTransactionsor(b)withthepriorwrittenconsentofthePurchaseror(c)intheordinaryandusualcourseofbusinessorinconsistencywithpastpractices,theSellershallnotenterintoanytransactionortakeanyactionormeasurethatwillcauseanychangeinoranyuncertaintyabouttheassets,business,liabilitiesorotherimportantaspectofthethatwillcauseamaterialadverseimpactontheperformanceofthisAgreement.ClosingshalltakeplaceataplacetobedeterminedbythePartiesonthe30thBusinessDayaftertheUnconditionalDate(oratsuchotherplaceandtimeasthePartiesmaymutuallyAtClosing,eachoftheSellerandthePurchasershalldeliverorperform(orensurethatthereisdeliveredorperformed)allthoses,itemsandactionsrespectivelylistedinrelationtothatPartyoranyofitsAffiliates(asthecasemaybe)inSchedule2.IftheSeller(ontheonehand)orthePurchaser(ontheother)failstocomplywithanymaterialobligationinSchedule2,thentheotherPartyshallbeentitled(inadditiontoandwithoutprejudicetootherrightsandremediesavailable)bywrittennoticetothePartyindefaultonthedateClosingwouldotherwisehavetakenplace,to:requireClosingtotakeplacesofaraspracticablehavingregardtothedefaultswhichhaveoccurred;notifythepartyindefaultofanewdateforClosing(beingnotmorethan10BusinessDaysaftertheoriginaldateforClosing)inwhichcasetheprovisionsofthisClause5(otherthanthisClause5.3)andSchedule2shallapplytoClosingassodeferredbutonthebasisthatsuchdeferralmayonlyoccuronce;orterminatethisAgreement(otherthantheSurvivingIfthisAgreementissoterminated,neitherPartynoranyofitsAffiliatesshallhaveanyclaimunderthisAgreementofanynatureagainsttheotherPartyoritsAffiliates(exceptinrespectofanyrightsandliabilitieswhichhaveaccruedbeforeterminationorunderanyoftheSurvivingProvisions).ForthepurposesofthisClause5.3,amaterialobligationis(i)inrespectoftheSeller,thoseobligationssetoutinparagraphs1(a)to(c)and1(f)to(g)ofPartAofSchedule2,and(ii)inrespectofthePurchaser,thoseobligationssetoutinparagraphs2(a)and(c)ofPartBofSchedule2.IftheSeller(ontheonehand)orthePurchaser(ontheother)complieswithallitsmaterialobligationsinSchedule2,butfailstocomplywithanyobligationinSchedule2thatisnotamaterialobligation,thentheotherPartyshallberequiredtoproceedtoClosingand,totheextentthatanysuchobligationisnotcompliedwithatClosing,thedefaultingPartyshall(withoutaffectinganyotherrightsandremediesavailabletotheotherParty)useitsreasonableendeavourstoensurethatsuchobligationisfulfilledassoonaspracticablefollowingClosing.IfinaccordancewithClause5.3(b),ClosingisdeferredandatsuchdeferredClosingaPartyfailstocomplywithitsmaterialobligationsinSchedule2,thenon-defaultingPartyshallhavetherighttoterminatethisAgreementbywrittennoticetotheotherParty,inwhicheventneitherPartynoranyofitsAffiliatesshallhaveanyclaimunderthisAgreementofanynatureagainsttheotherPartyoritsAffiliates(exceptinrespectofanyrightsandliabilitieswhichhaveaccruedbeforeterminationorunderanyoftheSurvivingProvisions).REPRESENTATIONS,WARRANTIESANDTheSellerrepresents,warrantsandundertakestothePurchaserinthetermsoftheWarrantiesassetoutinPartAofSchedule3andacknowledgesthatthePurchaserhasenteredintothisAgreementinrelianceupontheSellerWarranties.EachoftheSellerWarrantiesissubjecttotheinformationalreadydisclosedtothePurchaserandshallbequalifiedandlimitedaccordingly.ThePurchaserrepresent,warrantandundertaketotheSellerintermsoftheWarrantiesassetoutinPartBofSchedule3andacknowledgesthattheSellerhasenteredintothisAgreementinrelianceuponthePurchaserWarranties.EachoftheWarrantiesshallbeconstruedasaseparateWarrantyand(saveasexpresslyprovidedtothecontrary)shallnotbelimitedorrestrictedbyreferencetoorinferencefromthetermsofanyotherWarrantyoranyothertermofthisAgreement.TheWarrantiesshallbedeemedtoberepeatedimmediaybeforeClosingwithreferencetothefactsandcircumstancesthenexisting.TheSellerundertakestonotifythePurchaserinwritingpromptlyifit esawareofanycircumstancearisingafterthedateofthisAgreementwhichwouldcauseanyoftheSellerWarrantiessetoutinPartAofSchedule3(iftheWarrantieswererepeatedwithreferencetothefactsandcircumstancesthenexisting)to untrueorinaccurateormisleadinginanyrespectwhichismaterialtothefinancialcondition,tradingpositionorprospectsofthe.ThenetprofitornetlossoftheduringInterimPeriod(basedontheauditedaccountsasattheClosingAuditDatepreparedwithin60BusinessDaysfromClosingDateoftheorasotherwisedeterminedbytheSellerandthePurchaseraccordingtothedisclosedfinancialreportormanagementaccountsofthe)shallbebornebytheSeller.TheamountofnetprofitoftheduringtheInterimPeriod(ifany)shallbepaidincashbythePurchasertotheSeller.TheamountofnetlossoftheduringtheInterimPeriod(ifany),shallbepaidincashbytheSellertothePurchaser,respectively.EachPartyundertakesthatitshallpayincashtotheotherParty(eachan)bywayofindemnityondemandinthecaseofabreachofanyoftheWarranties,asumequaltotheaggregateof(i)theamountwhich,ifreceivedbytheIndemnified,wouldbenecessarytoputthatIndemnifiedintothefinancialpositionwhichwouldhaveexistedhadtherebeennobreachoftheWarrantyinquestion;and(ii)allCostssufferedorincurredbytheIndemnified,directlyorindirectly,asaresultoforinconnectionwithsuchbreachofWarranty.LIMITATIONSONTimeLimit:TomakeaclaimunderorinconnectionwiththisAgreement(includingundertheIndemnity)(aClaim),aPartyshallissueawrittennoticetotheotherPartyrespectofanyTaxClaims,withinsevenyearsoftheClosingDate,whichshallincludedetailsthenavailableofthemattergivingrisetosuchTaxClaim;andinrespectofanyotherClaims,withinoneyearoftheClosingDate,whichshallincludedetailsthenavailableofthemattergivingrisetosuchClaim.MinimumAmountofClaim:ExceptforaClaimunderorinconnectionwithaTaxClaim(inwhichcase,shallnotbelimitedbythisClause8.2),onlywhentheamountofliabilitiesunderaclaim(forthepurposeshereof,severalclaimsresultingfromanymatters,facts,eventsorcircumstancesconcerningthesameorsimilarsubjectmattermaybeaggregatedandconstituteonesingleclaim)exceeds5%ofthePricemayaPartymakesuchclaimagainsttheotherPartyinaccordancewithClause7,inwhichcasethePartymakingsuchclaimcanclaimforthewholeamountratherthanthemereportionexceeding5%ofthePrice.ForanyclaiminrelationtoanybreachoftheSellerWarranties,ifthefact,matter,eventorcircumstancegivingrisetosuchclaimhasbeenexpresslyandspecificallyincludedinthecalculationoftheamountofaprovision(Provision)intheAccountsandsuchProvisionissufficienttocovertheamountpayablebytheSellerinrespectofsuchclaim,therelevantSellershallnotbeliableforsuchclaim.SubjecttoClause8.5,theaggregateamountoftheliabilityofaPartyforallClaimsshallnotexceed100%ofthePrice.NoneofthelimitationscontainedinClause8.1shallapplytoanybreachofanyWarrantywhich(orthedelayindiscoveryofwhich)istheconsequenceoffraud,dishonest,deliberateorrecklessmisstatement,concealmentorothersimilarconductbyanyParty.AnypaymenttobemadepursuanttothisAgreementbythePurchasershallbemadetothedesignatedbankaccountsoftheSeller.PaymentsunderClause9.1shallbeinimmediayavailablefundsbyelectronictransferontheduedateforpayment.Receiptoftheamountdueshallbeaneffectivedischargeoftherelevantpaymentobligation.IfanysumdueforpaymentinaccordancewiththisAgreementisnotpaidontheduedateforpayment,theindefaultshallpayDefaultInterestonthatsumfrom,butexcluding,theduedateto,andincluding,thedateofactualpaymentcalculatedonadailybasis.EachPartyshall(andshallensurethateachofitsRepresentativesshall)useitsbestendeavourstomaintain InformationinconfidenceandnotdiscloseInformationtoany except:(i)asthisClause10permits;or(ii)astheotherPartiesapproveinwriting.Clause10.1shallnotpreventdisclosurebyaPartyoranyofitsRepresentativestotheextentitcandemonstratethat:disclosureisrequiredbyLaworbyanystockexchangeoranyregulatory,ernmentalorantitrustbodyhavingapplicablejurisdiction(providedthat,ifreasonablypracticable,thedisclosingPartyshallinformtheotherPartyofitsintentiontodisclosesuchinformationandtakeintoaccountthereasonablecommentsoftheotherParty);disclosureisofInformationwhichwaslawfullyinthepossessionofthatPartyoranyofitsRepresentatives(ineithercaseasevidencedbywrittenrecords)withoutanyobligationofsecrecybeforeitsbeingreceivedorheldbythatPartyoranyofitsdisclosureisofInformationwhichhaspreviously epubliclyavailableotherthanthroughthatParty’sactionorfailuretoact(orthatofitsRepresentatives);ordisclosureisrequiredforthepurposeofanyarbitralorjudicialproceedingsarisingoutofthisAgreement.EachPartyundertakesthatit(andeachofitsRepresentatives)shallonlydiscloseInformationaspermittedbythisClause10ifitisreasonablyrequired.IfthisAgreementterminates,eachPartyshallassoonaspracticableonrequestbytheotherParty:returntotherequestingPartyallwrittensandothermaterialsrelatingtothatParty,itsAffiliatesorthisAgreement(includinganyInformation)whichtherequestingParty(oritsRepresentatives)haveprovidedtotheotherParty(oritsRepresentatives)withoutkeeanycopiesthereof;destroyallinformationorother sderivedfromsuchInformation;andsofarasitispracticabletodoso,expungesuchInformationfromanycomputer,wordprocessororotherdevice,providedthatnothinginthisClause10.4shallrequiretheParties(oranyoftheirrespectiveRepresentatives)toreturnordestroyanyInformationwhichtheyarerequiredtoretainunderanyapplicableLaw,ruleorregulation(includingtherulesofaprofessionalNotwithstandingClause10,neithertheSellernorthePurchaser(noranyoftheirrespectiveAffiliates)shallmakeanyannouncementorissueanycommunicationtoshareholdersinconnectionwiththeexistenceorsubjectmatterofthisAgreementwithoutthepriorwrittenapprovaloftheother(suchapprovalnottobeunreasonablywithheldordelayed).TherestrictioninClause11.1shallnotapplytotheextentthattheannouncementorcommunicationtoshareholdersisrequiredbylaw,byanystockexchangeoranyregulatoryorothersupervisorybodyorauthorityofcompetentjurisdiction,whetherornottherequirementhastheforceoflaw.Ifthisexceptionapplies,thePartymakingtheannouncementorissuingthecommunicationtoshareholdersshalluseitsreasonableeffortstoconsultwiththeotherPartyinadvanceastoitsform,contentandthetimingofissue.COSTSANDExceptasotherwiseprovidedinthisAgreement,theSellerandthePurchasershallberesponsibleforitsownCostsandchargesincurredinconnectionwiththeProposedAnystampdutyorothertransfertaxespayableinrespectofthetransferoftheSaleSharesshallbebornebytheSellerandthePurchaserinequalproportion.TheSellershallprovideallinformationrelatingtothe thatthePurchasermayreasonablydemandforthepurposesofsubmissionof sandrelatedinformationtotheStampOfficeoftheInlandRevenueDepartmentofHongKonginrelationtoanyassessmentofstampdutyforthetransferoftheSaleShares.NotwithstandinganyotherprovisioninthisAgreement,theSellershallberesponsibleforpayinganyandallPRCTax(includingwithoutlimitation,anywithholding,value-addedorcapitalgainsTax)inrespectofthesaleandpurchaseoftheSaleSharespursuanttothisAgreement.TheSellerundertakesthatitshallpayincashtothePurchaserbywayofindemnityondemandinthecaseofabreachofClause12.3,asumequaltotheaggregateof(i)theamountwhich,ifreceivedbythePurchaser,wouldbenecessarytoputthePurchaserintothefinancialpositionwhichwouldhaveexistedhadtherebeennobreachofClause12.3;and(ii)allCostssufferedorincurredbythePurchaser,directlyorindirectly,asaresultoforinconnectionwithsuchbreachofClause12.3.Clause8shallnotapplytoClauses12.3and12.4.UnlesstheSellerandthePurchaserspecificallyagreeinwriting,noshallassign,transfer,holdontrustorencumberalloranyofitsrightsunderthisAgreementnorgrant,declare,createordisposeofanyrightorinterestinit.AnypurportedassignmentincontraventionofthisClause13shallbevoid.FURTHERTheSelleragreestoperform(orprocuretheperformanceof)allfurtheractsandthings,andexecuteanddeliver(orprocuretheexecutionanddeliveryof)suchfurthers,asmayberequiredbylaworasthePurchasermayreasonablyrequire,whetheronorafterClosing,toimplementand/orgiveeffecttothisAgreementandtheProposedTransactionsandforthepurposeofvestinginthePurchaserthefullbenefitoftheassets,rightsandbenefitstobetransferredtothePurchaserunderthisAnynoticeinconnectionwiththisAgreementshallbeinwritinginEnglishorChineseanddeliveredbyhand,fax,,registeredpostorcourierusinganinternationallyrecognisedcouriercompany.Anoticeshallbeeffectiveuponreceiptandshallbedeemedtohavebeenreceived:(i)atthetimeofdelivery,ifdeliveredbyhand,registeredpostorcourier;or(ii)atthetimeoftransmissionifdeliveredbyfaxorprovidedthatineithercase,wheredeliveryoccursoutsideWorkingHours,noticeshallbedeemedtohavebeenreceivedatthestartofWorkingHoursonthenextfollowingBusinessDay.WITHOTHERIfthereisanybetweenthetermsofthisAgreementandanyotheragreement,thisAgreementshallprevailunless:(i)suchotheragreementexpresslystatesthatitoverridesthisAgreementintherelevantrespect;and(ii)theSellerandthePurchaserareeitheralsopartiestothatotheragreementorotherwiseexpresslyagreeinwritingthatsuchotheragreementshalloverridethisAgreementinthatrespect.WHOLEThisAgreementsetsoutthewholeagreementbetweenthePartiesinrespectoftheProposedTransactionsandsupersedesanyprioragreement(whetheroralorwritten)relatingtotheProposedTransaction.Itisagreedthat:noPartyshallhaveanyclaimorremedyinrespectofanystatement,representation,warrantyorundertakingmadebyoronbehalfoftheotherParty(oranyofitsConnecteds)inrelationtotheProposedTransactionswhichisnotexpresslysetoutinthisAgreement;anytermsorconditionsimpliedbylawinanyjurisdictioninrelationtotheProposedTransactionsareexcludedtothefullestextentpermittedbylawor,ifincapableofexclusion,anyright,orremediesinrelationtothemareirrevocablywaived;theonlyrightorremedyofaPartyinrelationtoanyprovisionofthisAgreementshallbeforbreachofthisAgreement;andexceptforanyliabilityinrespectofabreachofthisAgreement,noParty(oranyofitsConnecteds)shalloweanydutyofcareorhaveanyliabilityintortorotherwisetotheotherParty(oritsrespectiveConnecteds)inrelationtotheProposedTransaction,providedthatthisclauseshallnotexcludeanyliabilityfor(orremedyinrespectof)fraudorfraudulentmisrepresentation.EachPartyagreestothetermsofthisClause17onitsownbehalfandasagentforeachofitsConnecteds.Forthepurposeofthisclause, smeans(inrelationtoaParty)theofficers,employees,agentsandadvisersofthatpartyoranyofitsAffiliates.WAIVERS,RIGHTSANDExceptasexpresslyprovidedinthisAgreement,nofailureordelaybyanypartyinexercisinganyrightorremedyrelatingtothisAgreementshallaffectoroperateasawaiverorvariationofthatrightorremedyorprecludeitsexerciseatanysubsequenttime.Nosingleorpartialexerciseofanysuchrightorremedyshallprecludeany