Uni Wall APS Holdings Berhad entered into a joint venture agreement and a subscription and shareholders' agreement with NS Corp. for the collaboration in a joint venture company, NS Aero City Sdn Bhd to carry out property development projects on the development lands. The Agreements shall be deemed terminated upon occurrence of any of the following events: (i) the expiry of the Agreements, being a period of 15 years from the date of the respective Agreements, with an automatic extension of the JVA for another 5 years thereafter; (ii) the termination of the Agreements by mutual written consent of the Parties; (iii) the winding-up of NS Aero City; (iv) all shares being held by one party; (v) the Agreements being terminated or deemed terminated in accordance with its terms for any reason whatsoever; or (vi) NS Aero City undertakes an initial public offering or the sale by all shareholders (on a proportionate basis) of a majority of the shares of NS Aero City by mutual agreement of the Parties. The Parties may also at any time mutually agree to terminate the Agreements as of a date certain to be established by the Parties. In the evant that the Agreements are terminated upon voluntary basis, the following shall applies: (i) save and except for the Development Lands, the ownership of all moveable assets held by NS Aero City shall be transferred to Uni Wall and the ownership of all immoveable assets held by NS Aero City shall be transferred to NS Corp; and (ii) the Development Lands shall be disposed to NS Corp. in consideration of 25% discount from the actual purchase price of the Development Lands paid by Uni Wall, which shall be payable by NS Corp. to Uni Wall on its sole discretion without any limitation of time. The Proposed Joint Venture will enable an official collaboration between Uni Wall and NS Corp. to ensure a state-led private sector-driven development envisioned to be a world class metropolis that delivers economic impact to the state of Negeri Sembilan.