Examples of PRC Authority in a sentence
In addition, the Bank’s overseas operations are subject to supplementary PRC tax at tax rate determined by the relevant PRC Authority.
Purchaser shall have the right, but are under no obligation, to make applicable tax filings with a relevant PRC Authority, and Seller and Company Parties shall cooperate in good faith in such Purchaser’s filing and provide all necessary assistance and information of Seller and Company Parties to Purchaser in a timely manner, provided that Purchaser’s failure to so make the filings shall not relieve Seller from any obligation to indemnify, defend and hold harmless Purchaser in this regard.
Each of the PRC Subsidiaries is in compliance with the provisions of all such Approvals, and there is no notice of any modification, suspension, or revocation of any Approvals and we have no reason to believe that any PRC Authority is considering modifying, suspending or revoking any such PRC Approvals.
Closing Date and Closing On the fifth Business Day after the closing condition (i) above has been fulfilled and provided that the closing condition (ii) above has been fulfilled or waived by the Purchaser, the Purchaser and the Vendor shall jointly submit the relevant documentation for the registration of changes in equity interest in and management of Tianjin Tomson to the PRC Authority.
The date on which such submission has been officially accepted by the PRC Authority shall be the date of Closing (the “Closing Date”).
Each Contract is in proper legal form under the PRC Laws for the enforcement thereof against each of the PRC Entities and the Shareholders that is a party to it, in the PRC without further action by any of the PRC Entities or the Shareholders; all required filings and recordings in respect of such Contract with any PRC Authority have been performed to ensure the legality, validity, enforceability or admissibility in evidence of each Contract in the PRC.
THE GUARANTEE The Guarantee Service Agreement The principal terms of the Guarantee Service Agreement are set out as follows: Date : 2 August 2019 Parties : (a) The Company, as guarantor; and (b) Pacific Construction, as warrantee Guarantee : The Company shall provide the Guarantee through the Bank in favour of the PRC Authority for the Guarantee Amount of RMB318,111,892.83 (equivalent to approximately HK$367,334,749.23).
However, the calculation of the outstanding land premium for the Industrial Land was based on the information available to the Company as at the Latest Practicable Date which is subject to the final decision of the PRC Authority.
It was highlighted that the Terms of Reference stated the PRC Authority Members and the BTP lead members, but that the meetings would also be open to other Members and BTP representatives to attend when required.
We are not aware, after due inquiry, of anything that would cause us to believe that any PRC Authority is considering modifying, suspending, revoking or not renewing any such Approvals.