Examples of PRC Entity in a sentence
All Governmental Authorizations required for the ownership of equity interests in each of the PRC Entities by each of its shareholders as set forth in Annex A hereto have been obtained by the relevant shareholders or such PRC Entity and are in full force and effect.
ALTA 3.1 and 3.1-06 Zoning -- Completed Structure This endorsement to the loan or owner's policy is designed for issuance on improved property.
Each of the lease agreements as set forth in Annex D to which any of the PRC Entities is a party is duly executed by and legally binding and enforceable in accordance with their respective terms under PRC Laws and the leasehold interests of relevant PRC Entity are protected by such lease agreements for usage.
It is based on the principle that the Directors and Officers of the Fund owe a fiduciary duty to the Fund's shareholders to conduct their affairs, including their personal transactions, in such a manner as to avoid 1) serving their own interests ahead of the shareholders, 2) taking advantage of their position, and 3) any actual or potential conflicts of interest.
During the year, processing fees for machineries and equipment in the amount of HK$960,000 was charged to one of the PRC Subsidiaries by a PRC Entity indirectly controlled by Mr. Chan.
Each PRC Entity has a valid business license issued by the State Administration for Industry and Commerce or its local branch, and has, since its establishment, carried on its business materially in compliance with the business scope set forth in its business license.
The PRC Entity is not profitable, and Forbes does not report any revenue generated by the Joint Venture as part of its revenues.
The equity interests in each of the PRC Entities are legally and validly owned by the entities in the percentages set forth in Annex A hereto after the name of such PRC Entity.
The ownership structures of the PRC Entity as set forth in the Registration Statement are not in any violation of the applicable PRC Laws.
As used in this Opinion, the expression “to the best of our knowledge after due inquiry” or similar language with reference to matters of fact refers to the current, actual knowledge of the attorneys of this firm who have worked on matters for the Company and the PRC Entity in connection with the Offering and the transactions contemplated thereby.