Common use of Representative’s Shares Clause in Contracts

Representative’s Shares. The Representative’s Shares have been duly authorized and reserved for issuance and, when issued in accordance with the Company’s Charter and paid for and registered in the Company’s register of members, will be validly issued, fully paid and non-assessable; the Representative’s Shares are not and will not be subject to the preemptive rights of any holders of any security of the Company or similar contractual rights granted by the Company; and all corporate actions required to be taken for the authorization, issuance and sale of the Representative’s Shares have been duly and validly taken. The Class A Ordinary Shares to be issued upon conversion of the Representative’s Shares have been reserved for issuance, and upon such conversion will be duly and validly authorized, validly issued, fully paid and non-assessable, and the holders thereof are not and will not be subject to personal liability by reason of being such holders.