Examples of Cayman Islands Law in a sentence
The Closing Payment Shares, when issued in accordance with this Agreement, will be duly authorized and validly issued, and will be fully paid and nonassessable and not subject to or issued in violation of any purchase option, right of first refusal, preemptive right, subscription right or any similar right under any provision of Cayman Islands Law, the Purchaser’s constitutional documents or any contract to which Purchaser is a party or by which Purchaser is bound.
Each of Warrantors shall have timely obtained from each Governmental Authority all approvals, waivers and consents, if any, necessary for consummation of or in connection with this Agreement and the Transactions contemplated hereby, including such approvals, waivers and consents as may be required under the Cayman Islands Law and PRC Laws.
The Ordinary Shares to be allotted and issued by the Company pursuant to the Documents have been duly authorised, and when allotted and issued by the Company against payment in full pursuant to the Documents, will be validly issued, fully paid and non-assessable (meaning that no further sums are payable to the Company on such shares) and not be subject to any pre-emptive or similar rights under the Cayman Islands Law or the Constitutional Documents.
The Compliance Program shall be amended when and as necessary to reflect and comply with regulations and guidance under the USA PATRIOT Act, the Bermuda Law, the Cayman Islands Law, the BVI Law or any other relevant law or regulation promulgated after the adoption of this Program.
Each of the Xxxxxxx Shareholders hereby irrevocably waives, and agrees not to exercise or assert, any dissenters’ or appraisal rights under Cayman Islands Law and any other similar statute in connection with the Transactions and the Business Combination Agreement.
The Warrants have been duly authorised by all necessary corporate action under Cayman Islands Law (without regard to their validity or enforceability under New York law) on the part of the Company and its board of directors.
All issued and outstanding Purchaser Ordinary Shares are, and all Consideration Shares, when issued, will be, duly authorized, validly issued, fully paid and nonassessable and not subject to or issued in violation of any purchase option, right of first refusal, preemptive right, subscription right or any similar right under any provision of Cayman Islands Law, the Purchaser’s Organizational Documents or any contract to which Purchaser is a party or by which Purchaser is bound.
Thereafter, FTL Cayman will be liquidated under Cayman Islands Law.
On the basis that the contractual subscription price (being not less than the par value) of the Ordinary Shares is fully paid in cash or satisfied by other consideration approved by the Board of Directors of the Company or a duly established Committee thereof, such Ordinary Shares issued or to be issued may properly be credited as fully paid under Cayman Islands Law.
We hereby consent to the filing of this opinion letter as an exhibit to the Registration Statement and to the references to our firm under the headings "Shareholders' Suits" "Enforcement of Civil Liabilities" "Enforceability of Civil Liability under Cayman Islands Law" "Legal Matters" and " Enforceability Of Civil Liabilities Under U.S. Securities Laws" in the prospectus included in the Registration Statement.