PRC Governmental Authority means any foreign, federal, national, supranational, state, provincial, special administrative, municipal, local, or other government, governmental, regulatory or administrative authority, agency or commission or any court, tribunal, or judicial or arbitral body of the PRC.
Examples of PRC Governmental Authority in a sentence
Target and its Subsidiaries have complied with all relevant PRC laws and regulations regarding the contribution and payment of their registered share capital, the payment schedules of which have been approved by the relevant PRC Governmental Authority.
All actions by or in respect of or filings with or approval from any Governmental Authority required to permit the Purchaser's consummation of the Closing shall have been taken, made or obtained, including the approval from the PRC Governmental Authority for the overseas investment by the PRC investor of IDG Maximum Financial Limited.
For the avoidance of doubt, the term "Tax Liabilities" shall include any and all liability for PRC Taxes arising from or attributable to the receipt of Merger Consideration or Holdco Shares as described in clause (i) above, including without limitation, any liability for withholding Taxes and any liability associated with any PRC Governmental Authority denying a stepped up basis equal to the amount of the Merger Consideration received by such Shareholder or its Affiliates.
The Pledgor hereby agrees and undertakes to cause the Sponsor to continuously and diligently complete the required approval, registration and recordation procedures with the PRC Governmental Authority as described in the above Section 4(a) and Section 4(b) hereof upon receipt of such notice.
Seller has not received notice of any Proceeding relating to revocation or modification of any such Permit and is not in receipt of any letter or notice from any relevant PRC Governmental Authority notifying it of revocation of any Permits issued to it for non-compliance or the need for compliance or remedial actions in respect of the activities carried out by Seller.