No Licensing Requirement. The entry into, and performance or enforcement of the Underwriting Agreement and the Deposit Agreement in accordance with its respective terms will not subject any of the Underwriters or the Depositary to any requirement to be licensed or otherwise qualified to do business in the PRC, nor will any Underwriter or the Depositary be deemed to be resident, domiciled, carrying on business through an establishment or place in the PRC or in breach of any laws or regulations in the PRC by reason of entry into, performance or enforcement of the Underwriting Agreement and the Deposit Agreement.
No Licensing Requirement. The entry into, and performance or enforcement of the Purchase Agreement, the Indenture, the Registration Rights Agreement, and the Deposit Agreement in accordance with its respective terms will not subject any of the Managers or the Depositary to any requirement to be licensed or otherwise qualified to do business in the PRC, nor will any Managers or the Depositary be deemed to be resident, domiciled, carrying on business through an establishment or place in the PRC or in breach of any laws or regulations in the PRC by reason of entry into, performance or enforcement of the Purchase Agreement and the Deposit Agreement.
No Licensing Requirement. The entry into, and performance or enforcement of the Underwriting Agreement and the Deposit Agreement in accordance with its respective terms will not subject any of the Underwriters or the Depositary to any requirement to be licensed or otherwise qualified to do business in China, nor will any Underwriter or the Depositary be deemed to be resident, domiciled, carrying on business through an establishment or place in China or in breach of any laws or regulations in China by reason of entry into, performance or enforcement of the Underwriting Agreement and the Deposit Agreement.
