Common use of SAFE Compliance Clause in Contracts

SAFE Compliance. All SAFE Rules and Regulations have been fully complied with and all requisite Approvals required under the SAFE Rules and Regulations in relation thereto, in each case relating to the direct or indirect holding of Equity Securities in the Company and HK Subsidiary have been duly and lawfully obtained and are in full force and effect, and there exist no grounds on which any such Approval may be cancelled or revoked or any PRC Company or its legal representative may be subject to liability or penalties for misrepresentations or failures to disclose information to the issuing SAFE. Each Person who beneficially owns any Equity Securities of the Company and HK Subsidiary and is required to comply with the SAFE Rules and Regulations has registered with SAFE with respect to their direct or indirect holdings of Equity Securities in the Company and HK Subsidiary in accordance with the SAFE Rules and Regulations. Such Person has not received any oral or written inquiries, notifications, orders or any other forms of correspondence from SAFE with respect to any actual or alleged non-compliance with the SAFE Rules and Regulations.