Business Practice. 24.1 Both Parties undertake that they shall at any time comply with applicable laws and regulations in the PRC in the process of establishment of the Joint Venture, collaboration with each other, supply of products or the relevant services to the Joint Venture or the Customer. 24.2 Both Parties further undertake that they shall cause the Joint Venture and its Directors, officers or employees, at any time during the Term of this Contract, comply with all the applicable laws and regulations in carrying out the Joint Venture’s business and which are applicable to the Parties (including but not limited to anti-bribery and anti-corruption laws and regulations of the PRC, the United States Foreign Corrupt Practices Act, and PRC and United States export control laws). 24.3 Without limiting the foregoing, both Parties shall ensure that the Joint Venture does not market, distribute, sell or otherwise transfer any of its products or transfer any Intellectual Property to any country or government which is on the restricted list of the US.
Appears in 2 contracts
Sources: Sino Foreign Cooperative Joint Venture Contract, Sino Foreign Cooperative Joint Venture Contract (Aura Systems Inc)