Common use of The PRC Companies Clause in Contracts

The PRC Companies. The constitutive documents, Contracts and certificates of each PRC Company are valid and have been duly approved or issued (as applicable) by competent PRC Governmental Authorities. The capital and organizational structure of each PRC Company and the business conducted by such PRC Company are in full compliance with relevant PRC Laws in all material respects. All Approvals required under PRC Laws for the due and proper establishment and operation of each PRC Company have been duly obtained from the relevant PRC Governmental Authorities or completed in accordance with the relevant Laws, and are in full force and effect. In respect of Approvals requisite for the conduct of any part of the business of such PRC Company which are subject to periodic renewal, the Company has no reason to believe that such requisite renewals will not be timely granted by the relevant PRC Governmental Authorities. Each PRC Company has been conducting and will conduct its business activities within the permitted scope of business, and has been operating or will operate its business in full compliance in all material respects with all relevant legal requirements and with all requisite Approvals granted by the competent PRC Governmental Authorities. No PRC Company has received any letter or notice from any Governmental Authority notifying revocation of any Approvals issued to it for non-compliance or the need for compliance or remedial actions in respect of the activities carried out directly or indirectly by it.