Common use of Commitment and Guarantee Clause in Contracts

Commitment and Guarantee. 2.1 Party B guarantees that Party B possesses all qualifications necessary for transactions hereunder, whereby it’s entitled to carry out transactions hereunder and such conduct doesn’t violate provisions of laws and regulations of the People’s Republic of China and other regulatory and legal documents with binding effect. 2.2 Party A guarantees that Party A possesses all qualifications necessary for transactions hereunder, whereby it’s entitled to carry out transactions hereunder and such conduct doesn’t violate provisions of laws and regulations of the People’s Republic of China and other regulatory and legal documents with binding effect. 2.3 The Parties undertake that their authorized representatives have been fully authorized to sign this Agreement and execution and performance hereof comply with laws and their articles of association, requiring no approval of or filing with any third party.