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1、BETWEEN(1)whoseregisteredofficeisat("Sponsor")and(2)TheHongKongUniversityofScienceandTechnologywhoseregisteredofficeisatClearWaterBay,Kowloon,HongKong(“University")1.DefinitionsThefollowingtermsshallhavethefollowingmeanings(whetherusedinthesingularorplural):"ContractParties"SponsorandUniv

2、ersity"thisAgreement"thisagreementforresearchrelatingtothedevelopmentoftogetherwiththeScheduleshereto,asoriginallyexecutedorasitmaybeamendedbyallthepartiesfromtimetotime“HK$"HongKongDollars2.PreambleWHEREAS(i)SponsordesirestosponsoraresearchinaccordancewiththescopeofworkassetoutinSchedule

3、1(StatementofWork)ofthisAgreement(“Research").(ii)Universityhasthefacilities,equipmentandemployeestoprovideresearchservices,andwiththeseresourcesUniversitywishestocarryoutResearchandprovidetheresultsoftheworktoSponsorascontainedinthisAgreement.(iii)TheContractPartieshavedecidedtoconcludet

4、hisAgreementunderwhichUniversitywillperformResearchasdescribedinSchedule1.NOW,THEREFORE,inconsiderationofthemutualcovenantsexpressedinthisAgreement,theContractPartiesagreeasfollows:1.TermandTermination1.1ThisAgreementshallbeginonandisestimatedtobecompletedon.1.2ThisAgreementshallterminate

5、uponwrittennoticebyeitherContractPartytotheotherwithinsixty(60)daysofthedateonwhichanyofthefollowingeventsoccurs:12.theothershallbecomeinsolvent;13.theothershallgointoliquidationwhethercompulsoryorvoluntaryexceptforthepurposeofamalgamationorreconstruction;14.theothershallhaveareceiverappo

6、intedofanyofitsassetsorundertaking,oranydistress,execution,sequestrationorotherprocessshallbeissuedagainstanyofitsproperty.1.3ThisAgreementmayalsobeterminated:1.3.1ForthwithbyUniversityifSponsorfailstopayanysumdueasagreedwithinsixty(60)daysoftheduedatetherefor,andasdescribedinSchedule2(Pr

7、ojectandPayment);1.3.2ForthwithbyeitherpartyiftheothercommitsanymaterialbreachofanytermofthisAgreementandwhich(inthecaseofabreachcapableofbeingremedied)shallnothavebeenremediedwithinsixty(60)daysofawrittenrequesttoremedythesame;333AnyterminationofthisAgreementpursua