PRC definition
Examples of PRC in a sentence
The choice of the laws of the State of New York as the governing law of this Agreement is a valid choice of law and would be recognized and given effect to in any action brought before a court of competent jurisdiction in the PRC except for those laws (i) which such court considers to be procedural in nature, (ii) which are revenue or penal laws or (iii) the application of which would be inconsistent with public policy, as such term is interpreted under the laws of the PRC.
If the Participant receives Shares upon vesting of a Restricted Stock Unit (“RSU”) Award, due to exchange control laws and regulations in China, if the Participant is a PRC national, the Participant agrees that all such Shares issued to the Participant at vesting of the RSU will be sold on the Participant’s behalf within six (6) months from the date of termination of Employment.
The choice of laws of the State of New York as the governing law of this Agreement will be honored by competent courts in the PRC subject to compliance with relevant civil procedural requirements of the PRC.