Strategic Commitments Clause Samples

Strategic Commitments. (a) The Company shall pursue and implement the establishment of the HK Holdcos and the PRC Subsidiaries as described in Recital B hereto and as contemplated in the Business Plan. (b) Responsibilities of NSP. NSP shall be responsible for the following matters, unless otherwise agreed by the Parties: (i) to assist in setting up the management and operating teams for the JV Companies; (ii) to assist in determining the products to be sold by the PRC Subsidiaries in the PRC, which shall comply with applicable PRC laws and regulations; (iii) to assist the DS Subsidiary in establishing the Direct Selling system for the DS Subsidiary (including bonus system) pursuant to PRC laws and regulations, and the distribution network for the DS Subsidiary; (iv) to assist the JV in preparing the Business Plan, and to assist the JV in an effort to meet not less than 80% of the sales revenue target and net profits target as approved in the Business Plan; and (v) to assist the DS Subsidiary in applying for all Governmental Approvals for the DS Subsidiary to engage in Direct Selling in the PRC and to assist the PRC Subsidiaries to apply for all products registrations with the relevant PRC Governmental Authorities.