The JV Clause Samples
The JV. The Parties hereby agree to form the JV under the Laws of Hong Kong pursuant to the terms of this Agreement, and the JV shall be formed as promptly as reasonably practicable following F&F’s and The9’s delivery of written notices pursuant to Section 2.07.
The JV. The Parties shall create a joint venture, which may either be achieved by a definitive cooperation agreement, or by creating a jointly owned new company (“NewCo”), in both cases on equal portions (on a 50-50 basis).
The JV. The Vendor hereby irrevocably covenants and undertakes to XSEL that:
(a) it shall do all things and execute all documents as may be necessary for the transactions contemplated hereunder including but not limited to:
(i) the due establishment of the JV;
(ii) the obtaining of all Consents for the JV to carry on the businesses intended to be carried on by it; and
(iii) the JV’s full operation as a going concern;
(b) all capital contribution required to be made by Sinovision, including the Sinovision JV Contribution, be promptly and fully paid in accordance with all applicable laws and regulations; and
(c) it shall procure that as soon as practicable following the signing of this Agreement, Sinovision shall enter into the SEF Agreementand the SEF Agreement and all documents contemplated under the JV Cooperation Agreement be duly executed by all parties thereto and all necessary Consents, licenses and approvals for the execution and implementation of the JV Cooperation Agreement and SEF Agreement be obtained and validly exist.