Ambow definition
Examples of Ambow in a sentence
Each of Pledgors hereby agrees to sign a power of attorney (“Attorney-in-fact”) on the even date herewith, appointing Beijing Ambow Shengying Education Technology Co., Ltd.
The Parties agree that, to the fullest extent permitted by the Chinese laws, in connection with the transfer of any or all Equity in Ambow Sihua to Party A and/or any third party designated by Party A, Party A shall have the right to offset the debt Party B owes to Party A against the transfer price for such Equity, and Party A and any third party designated by Party A shall not be required to make any cash payment to Party B separately.
If the Equity in Ambow Sihua is required to be valuated under relevant Chinese laws, or there are any other provisions for the transfer price for such Equity, then such transfer price shall be the lowest price permitted under relevant Chinese laws.
The Pledge will be established at the time when the Pledge is registered with the administrative authorities for industry and commerce in the place where Ambow Sihua is registered.
The Parties also acknowledge that, upon execution of this Agreement, the Parties will not raise any question or objection to the effectiveness of this Agreement because of failure to register the Pledge with the administrative authorities for industry and commerce in the place where Ambow Sihua is registered.
At any time and for any reason fail to own, directly or indirectly, at least 100% of both the economic and voting interests in Beijing Ambow and at least 87.23% of both the economic and voting interests in Ambow Yuhua.
Pledgor, Pledgee and Ambow Sihua shall promptly register the Pledge with the administrative authorities for industry and commerce upon execution of this Agreement.
Party A and/or any third party designated by Party A shall become the lawful holder of the Equity in Ambow Sihua, and shall have the right to obtain all shareholders’ rights according to its shareholding ratio.
Save for Beijing Ambow, Ambow Yuhua or any Subsidiary which is wholly owned or any form of arrangements, agreements or transactions with the VIEs or any of their Subsidiaries existing on the Effective Date, directly or indirectly, by both the Borrower and any of the Co-Borrowers, enter into any form of arrangements, agreements or transactions with the VIEs or any of their Subsidiaries whereby the income, revenue or profits of the VIEs or any of their Subsidiaries are, or might be, shared with any Person.
To the fullest extent permitted by the Chinese laws, the transfer price of the Equity in Ambow Sihua (or any part thereof) shall be equal to the Party B’s initial contribution to the registered capital of Ambow Sihua in exchange for such Equity in Ambow Sihua (or any part thereof) (“Contribution to Registered Capital”).