Capital Verification Clause Samples
The Capital Verification clause establishes the requirement for confirming the amount and legitimacy of capital contributed by parties, typically in a business or investment context. This clause outlines the process by which parties must provide evidence or documentation proving that the stated capital has been fully paid and is available for use, such as through bank statements or auditor certifications. Its core function is to ensure transparency and accuracy regarding financial contributions, thereby reducing the risk of disputes or misrepresentation about the capital base.
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Capital Verification. The Parties’ contributions to the Joint Venture Company’s registered capital shall be verified by a Chinese registered accounting firm engaged by the Board of Directors and the accounting firm shall issue a capital verification report to the Joint Venture Company within sixty (60) days from the date of the contribution. Within thirty (30) days from receipt of the capital verification report, the Joint Venture Company shall issue an investment certificate to such Party in the form prescribed by applicable Chinese regulations, signed by the Chairman of the Board of Directors and chopped with the Joint Venture Company’s chop, and a copy shall be submitted to the Examination and Approval Authority for the record. The General Manager shall maintain a file of all capital verification reports and copies of all investment certificates that have been issued to the Parties.
Capital Verification. Within ten (10) business days of the payment in full by Regal Life of the Contribution Amount to the Company pursuant to Section 5.2 above, the Company shall appoint a Chinese certified public accountant to verify such Contribution Amount paid and to issue a capital verification report.
Capital Verification. A qualified accountant registered in the PRC and selected by a Supermajority of the Board shall be engaged by the Joint Venture to verify the capital contribution by AoLunTe and provide a capital verification report accordingly.
Capital Verification. The Company shall engage a qualified accounting firm to conduct capital verification on the paid-in capital of Party A and Party B, and submit capital verification report to Party A and Party B.
Capital Verification. Immediately after the first installment of capital contributions is paid, the General Partner shall engage a qualified accounting firm to verify the capitals paid by the Partners and issue the capital verification report to the Partnership.
Capital Verification. 4.4.1 After the investment has been contributed by the Parties, a Chinese registered accountant agreed by the Parties and invited by the Joint Venture shall verify it and provide a certificate of verification. (…)
Capital Verification. (a) For a period of ninety (90)days following the Closing Date, Reinsurer and its Representatives shall have the right, upon reasonable prior notice and during normal business hours, to inspect the relevant books and records of the Company and conduct reasonable verification procedures (the “Capital Verification”) solely to confirm the Company’s capital position and compliance with the Class B(iii) Requirements as of the Effective Time (after giving effect to the Pre-Closing Dividend and the Transaction). The Company shall provide reasonable cooperation to Reinsurer in connection with the Capital Verification.
Capital Verification. After both Parties have paid their contributions to the Company under Article 10, the certified public accountants firm registered in China shall verify capital contributions from both Parties and issue a capital verification report.
Capital Verification. Report After the Investor pays the increase capital, the Company shall engage certified accountant to conduct the capital verification and issue the capital verification report.
Capital Verification. After Closing, the Company shall engage a qualified accounting firm to verify the capital of the Company within ten (10) Business Days upon the Payment Date set out in Section 2.3(a) and the Retainer Payment Date (if any) set out in Section 2.3(b), respectively, and prepare a capital verification report setting forth that Investor’s Increased Capital has been paid in full and/or that Existing Shareholders’ subscribed capital for current period has been paid up, and deliver to Investors the original of such capital verification report.