Examples of PRC Governmental Authority in a sentence
As soon as practicable after the Closing, the Company, the Principals, Jifen, and the WFOE shall cause the equity pledge made by each of the equity holders of Jifen in favor of the WFOE to be registered with the competent PRC Governmental Authority, provided, however, that such equity pledge registration will not adversely affect the Group Companies’ application for, acquisition or maintenance of the material permits and licenses required under applicable Laws for the operation of the Business.
The obligations set forth in this Section 4.01(c) shall not apply with respect to the PRC Approvals, except that the Purchaser shall regularly update the Company and keep the Company informed on a reasonably timely basis as to the status and timing of all notifications and other substantive submissions to any PRC Governmental Authority and the expected timing of the PRC Approvals.
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.
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Each PRC Acquired Company has obtained the necessary environmental protection approval from the requisite PRC Governmental Authority in respect of any of such PRC Acquired Company's operations and activities, except where the failure to obtain such approvals would not have a Material Adverse Effect.
In addition, upon the occurrence of any of the foregoing events, the number of outstanding Awards and the number and kind of Shares subject to any outstanding Award under any outstanding Award may be equitably adjusted in the sole discretion of the Company in order to preserve the benefits or potential benefits intended to be made available to Independent Directors granted Awards.
The Company has obtained the necessary environmental protection approval from the requisite PRC Governmental Authority in respect of the PRC operations and activities of the Company, except where the failure to obtain such approvals would not have a Material Adverse Effect.
Each Onshore Company is not in receipt of any letter or notice from any relevant PRC Governmental Authority notifying revocation of any licenses issued to it for non-compliance or the need for compliance or remedial actions in respect of the activities carried out by it.
All licensees are expected to adhere to the Central Bank’s licensing and prudential requirements and ongoing supervisory programmes and required regulatory reporting, and are subject to periodic on-site examinations.
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.