IPA China definition
Examples of IPA China in a sentence
IPA China is a wholly owned foreign entity duly organized and existing under the laws of the PRC and is in good standing under such laws.
Shareholder shall manage and control the operations of IPA China and IPA BVI through the Second Closing.
Wang will be Managing Director of Grass Development of IPA China upon the First Closing.
Licensor shall deliver to IPA China an assignment to IPA China of the Grass License, duly executed by Licensor (the “Grass Assignment”).
Shareholder will be President of IPA BVI and IPA China upon the First Closing, and of Acquirer upon the Second Closing.
As of the First Closing, neither Target is a Passive Foreign Investment Company (“PFIC”) within the meaning of Section 1297 of the United States Internal Revenue Code of 1986, as amended, and IPA China does not reasonably expect to become a PFIC in the future.
After obtaining such funds from IPA BVI or IPA China, Acquirer shall deliver the loan proceeds within ten (10) days after receipt of any such written request.
As of the Second Closing IPA China has completed all administrative formalities necessary in order to remit, in Untied States dollars, any dividends declared and payable upon the equity interest of IPA China without the necessity of obtaining any discretionary government authorization in the PRC.
During the 75 day period after the First Closing, Acquirer shall engage an independent auditor acceptable to Shareholder to perform an audit of the financial records of IPA BVI and IPA China in accordance with SEC rules.
Shareholder owns, beneficially and of record, good and marketable title to all the issued and outstanding equity interests of each of IPA BVI and IPA China, free and clear of all security interests, liens, adverse claims, encumbrances, equities, proxies, options or shareholders’ agreements.