Examples of PRC Operating Companies in a sentence
Pursuant to the Shareholders’ Powers of Attorney executed by the Registered Shareholders and our PRC Operating Entities who are shareholders of our PRC Operating Companies in favor of Tibet Yongsi, each of the Registered Shareholders and the relevant PRC Operating Entities authorized and appointed Tibet Yongsi, as his or its agent to act on his or its behalf to exercise or delegate the exercise of all his or its rights as shareholders of the relevant PRC Operating Companies.
All requested Documents have been provided to us and all factual statements made to us by the Company and the PRC Operating Companies in connection with this legal opinion are true, correct and complete.
The trade and other receivables were due from the PRC Operating Companies, in respect of the trade sales amount receipts due to the Union Grace Group as reduced by the amount of purchases payable to the PRC Operating Companies.
We have advised the Company that (i) the corporate structure of the PRC Subsidiaries, the PRC Operating Companies and Jiayuan Shanghai Center, currently complies with, and immediately after this offering, will comply with, PRC Laws; and (ii) the contractual arrangements among the PRC Subsidiaries, the PRC Operating Companies and their respective shareholders and Jiayuan Shanghai Center are valid and binding on all parties to these arrangements, and do not violate PRC Laws.
The descriptions of the corporate structure and contractual arrangements of the PRC Operating Companies as set forth in the Registration Statement under the captions “Prospectus Summary” and “Corporate History and Structure” are true and accurate in all material respects and nothing has been omitted from such description which would make it misleading in any material respect.
In rendering this opinion, we have examined originals or copies of the due diligence documents provided to us by the Company and the PRC Operating Companies and such other documents, corporate records and certificates issued by the governmental authorities in the PRC (collectively the “Documents”).
SMI guidelines are available at:https://www.acf.hhs.gov/ocs/resource/liheap-im-2020-02-state-median-income-estimates-for-optional-use-fy2020-and-mandatory-use-fy2021?utm_medium=rss.
The corporate structure of the Company (including the ownership structure of the Company and each of the PRC Operating Companies, individually or in the aggregate), is in compliance with the PRC Laws.
Pursuant to the Master Supply Agreement, the PRC Operating Companies agreed to manufacture and supply to the Group the Electric Battery Products in accordance with the requirements of the Group.
These Markets are operated by PRC Operating Companies of the Group on land and properties which are currently leased from the substantial shareholder of the Company, New Amuse.