The registered capital of each PRC Subsidiary of the Company was timely contributed in accordance (if so required) with its articles of association.
Each of the Company, its non-PRC Subsidiaries and the PRC Subsidiary is a corporation or other entity duly incorporated or otherwise organized, validly existing and in good standing under the laws of its jurisdiction of incorporation or organization (as applicable) and has the requisite corporate power to own, lease and operate its properties and assets and to conduct its business as it is now being conducted.
No PRC Subsidiary is prohibited, directly or indirectly, from making any other distribution on such PRC Subsidiary's equity capital, from repaying to the Company any loans or advances to such the PRC Subsidiary from the Company or any of the Company's Subsidiaries.
Neither the Company, the non-PRC Subsidiaries nor the PRC Subsidiary is in default with respect to any Indebtedness which, individually or in the aggregate, would have a Material Adverse Effect.
To the knowledge of the Company, there are no outstanding orders, judgments, injunctions, awards or decrees of any court, arbitrator or governmental or regulatory body against the Company, the non-PRC Subsidiaries or the PRC Subsidiary or any of their respective executive officers or directors in their capacities as such.
More definitions of PRC Subsidiary
PRC Subsidiary means E-Sun Sky Computer (Shenzhen) Co., Ltd.; and