Change of Business Form. Whether or not an assignment or transfer of the Franchised Business is involved, Franchisee, whether an individual or otherwise, shall not change its business form, whether to obtain the services of a partner, to merge, consolidate, reorganize, or to accomplish any other change, without the prior written approval of Franchisor.
Change of Business Form. The Company agrees that it will not merge or consolidate with any other corporation or organization, or permit its business activities to be taken over by any other organization, unless and until the succeeding or continuing corporation or other organization shall expressly assume the rights and obligations of the Company herein set forth. The Company further agrees that it will not cease its business activities or terminate its existence, other than as heretofore set forth in this Article, without having made adequate provision for the fulfilling of its obligations. In the event the Company shall violate the terms of this Article, the Employee (or other obligee) shall have a continuing lien on all corporate assets until such default be corrected.
Change of Business Form. The savings bank agrees that it will not merge or consolidate with any other corporation or organization, or permit its business activities to be taken over by any organization, unless and until the succeeding or continuing corporation or other organization shall expressly assume the rights and obligations of the savings bank as herein set forth. The savings bank further agrees that it will not cease doing business activities or terminate its existence other than as heretofore set forth in this Paragraph 10, without having made adequate provision for fulfilling its obligations hereunder. In the event of any default with respect to the provisions of this Paragraph 10, the Employee (or other obligee or obligees) shall have a continuing lien on all the savings bank's assets, including already transferred assets, until such default be corrected.
Change of Business Form. The Corporation agrees that it will not merge or consolidate with any other corporation or organization, or permit its business activities to be taken over by any other organization, unless and until the succeeding or continuing corporation or other organization shall expressly assume the rights and obligations of the Corporation herein set forth. The Corporation further agrees that it will not cease its business activities or terminate its existence, other than as heretofore set for in this Paragraph 7.4, without having made adequate provision for the fulfilling of its obligations hereunder. In the event of any default with respect to the provisions of this Paragraph 7.4, the Employee (or other obligee or obligees) shall have transferred assets, until such default be corrected.
Change of Business Form. The Change of Cold-Rolled Technology from a sino-foreign equity joint venture company to a wholly foreign owned enterprise when the Transferor transfer to the Transferee all of the equity in Cold-Rolled Technology. Equity Transfer: Transferor transfers all the equity to the Transferee, and Transferee becomes the shareholder of Jiangsu Cold-Rolled Technology with legally holding 100% of the equity in Jiangsu Cold-Rolled Technology.
Change of Business Form. The Change of Huaye Steel Strip from a sino-foreign equity joint venture company to a wholly foreign owned enterprise when the Transferors transfer to the Transferee all of the equity in Huaye Steel Strip. Equity Transfer: Transferor transfers all the equity to the Transferee, and Transferee becomes the shareholder of Huaye Steel Strip with legally holding 100% of the equity in Huaye Steel Strip. Transfer Equity: Transferor transfers to Transferee 100% of the equity in Huaye Steel Strip legally held by the Transferor. Price of Transfer: Hong Kong dollar/US dollar/ British pound equivalent to RMB 1.004939 million Yuan. This price is determined by the net capital value verified in Capital Verification Report with the number of 94th Jingyongtuoshu verified on 30th, June 2006 issued by Beijing Yongtuo C.P.A. Co., Ltd. Working days: From Monday to Friday in each week, except for the statutory holidays in People’s Republic of China as well as Hong Kong Special Administrative Region of People’s Republic of China. Transfer Effective Date: The date when the Agreement is executed by Transferor and Transferee and the Agreement is approved by the concerned governmental authority of foreign trade and cooperation. Transfer Completion Date: The date when the Transferee pays off all the transfer price to the Transferors and carries out the registration procedure for the establishment of the new wholly foreign owned enterprise. PRC refers to People’s republic of China, excluding the following areas of People’s republic of China: Hong Kong Special Administrative Region of People’s Republic of China, Marco Special Administrative Region of People’s Republic of China and Taiwan Province for the purpose of the Agreement.
Change of Business Form. The Association agrees that it will not merge or consolidate with any other association, corporation or organization, or permit its business activities to be taken over by any other organization, unless and until the succeeding or continuing association, corporation or other organization shall expressly assume the rights and obligations of the Association herein set forth or the Association makes adequate provision for the fulfilling of its obligations hereunder. The Association further agrees that it will not cease its business activities or terminate its existence, other than as heretofore set forth in this Paragraph 10, without having made adequate provisions for the fulfilling of its obligations hereunder.
