Common use of Representations, Warranties and Commitments Clause in Contracts

Representations, Warranties and Commitments. 8.1. Each Party to this Agreement makes the following representations, warranties and commitments to the other Party: 8.1.1. It has full rights and authorization, including but not limited to approvals, consents or licenses from relevant governmental departments, as well as the internal authorizations of the company, to enter into this Agreement; 8.1.2. This Agreement shall become binding and enforceable upon it after it comes into effect by the means stipulated in the Agreement; and 8.1.3. No terms of the Agreement are in violation of its bylaws or PRC laws and regulations. 8.2. Party A makes the following additional representations, warranties and commitments to Party B: 8.2.1. The Entrusted Assets are legally obtained and can be legally invested according to laws, regulations and relevant requirements of the insurance regulatory authorities and other regulatory authorities; 8.2.2. The Investment Guidelines and Fund Transfer Instructions to be submitted to Party B in accordance with the Agreement comply with laws, regulations and provisions and with the requirements of the insurance regulatory authorities and other authorities; and 8.2.3. It shall bear any losses in regard to the Entrusted Assets or other funds of Party A arising from the credit risks, including but not limited to liquidation risk, of the relevant banks where it opens any account, including Special Accounts and the Settlement Account. 8.3. Party B makes the following additional representations, warranties and commitments that during the term of this Agreement, it will not: 8.3.1. misappropriate or seize the Entrusted Assets or the investment yields; or 8.3.2. conduct investment services in violation of the Investment Guidelines or the scope regarding the use of insurance funds as permitted by laws, regulations and the insurance regulatory authority.