PRC WFOE definition

PRC WFOE means the wholly foreign-owned enterprise which will be established by the Purchaser with the help of the Sellers.

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PRC WFOE means a wholly foreign owned enterprise established under the laws of the People’s Republic of China.

PRC WFOE shall have the meaning set forth in the Preamble.

Examples of PRC WFOE in a sentence

• Subject to the laws and regulations of the PRC, WFOE may exercise the exclusive purchase right under the structured contract.

• WFOE Means the PRC WFOE that is 100% indirectly owned by the Cayman Company.

• There are no outstanding powers of attorney executed on 39 behalf of the Company, the PRC WFOE or any Related Entity or comparable delegations of authority outstanding.

• Except for the Company’s ownership of the PRC WFOE and the PRC WFOE’s contractual control of the PRC Co., no Group Company presently owns or controls, directly or indirectly, any interest in any other corporation, partnership, trust, joint venture, association or other entity.

• Except as disclosed in Section 3B.02 of the Disclosure Schedule, none of the Company, the PRC WFOE or any Related Entity has any material liability for Indebtedness in excess of US$50,000 that has not been reflected or disclosed in the Management Accounts for the year ended and as of December 31, 2002.

• Since December 31, 2002, there has not been any change in the Business or Condition of the Company that would result in a Material Adverse Effect and each of the Company, the PRC WFOE and the Related Entities has been conducting its business only in the ordinary course and in a manner consistent with past practice.

• Within fifteen (15) Business Days after the First Closing, the Company shall contribute one hundred percent (100%) of the registered capital of the PRC WFOE (i.e., US$8,000,000).

• The Company, the PRC WFOE and each Related Entity will make available to the Purchaser copies of all Tax Returns that have been filed or are filed prior to the Closing Date.

• Effective as of the Closing Date, the designees of the Purchaser shall have been elected to the Board and the board of directors of the PRC WFOE and each Related Entity and the current directors as requested in writing by the Purchaser of the Company, the PRC WFOE and each Related Entity shall have resigned; provided that a properly constituted board of directors of the Company, the PRC WFOE and each Related Entity shall be in existence at all times.

• All such contributions and payments required to be made by any employees of the Company, the PRC WFOE or any Related Entity with respect to the relevant Benefit Plan have been fully deducted and paid to the relevant Governmental or Regulatory Authorities on or before their due dates, and no such deductions have been challenged or disallowed by any Governmental or Regulatory Authority or any employee of the Company, the PRC WFOE or any Related Entity.

More Definitions of PRC WFOE

PRC WFOE means Couture Accessories Distribution (Shanghai) Limited (or such other name as may be agreed by the parties and approved by the relevant PRC government authority), a wholly foreign-owned enterprise to be established by the PRC Distribution JVC in Shanghai, the PRC pursuant to the PRC Distribution JV Agreement for the establishment, operation and management of a distribution network for the distribution of the Licensed Products in the PRC “Relevant Shareholders” collectively, Cordwalner Bonaventure Inc., A Plus Investment Ltd., Giant Victory Enterprise Co., Ltd., Blue Diamond Investment Corp., Best Trace Limited, Merci Capital Limited, Perfect Epoch Limited, Cassini Inc., Huygens Inc., Enceladus Investment Inc., Xanadu Plus Inc., Atelier One Inc., Atelier Two Inc. and Atelier Three Inc., particulars of each of which are set forth in the section headed “Information on the Relevant Shareholders” above “Shareholder(s)” shareholder(s) of the Company “Stella Fashion” Stella Fashion Group Limited, a company incorporated under the laws of the British Virgin Islands with limited liability and a wholly-owned subsidiary of the Company “Stella Loan Note” the loan note(s) to be issued by Ex-PRC JVC or PRC Distribution JVC to Stella Fashion in respect of the shareholder’s loan to be advanced by ▇▇▇▇▇▇ Fashion under the Ex-PRC JV Agreement or, as the case may be, the PRC Distribution JV Agreement, brief particulars of which are set forth under the paragraph “The capital structure and funding of the JVC Group – (iii) Loan notes” in the section headed “Summary of the Joint Venture Agreements” above

PRC WFOE means Newpalm (China) Information Technology Co., Ltd. [Chinese characters].

PRC WFOE means the wholly foreign-owned enterprise which is directly owned by the Company. (“TimeHeart (Beijing) Network Technology Limited” and Chinese name

PRC WFOE means , a wholly foreign-owned enterprise organized as a limited liability company under the laws of the PRC;