Commitment of Founders. Each of the Founders covenants and agrees that until the date of the Qualified Public Offering, the Company will, and the Founders shall procure the Company to, perform and observe, the following covenants and provisions, and will cause each Group Company to perform and observe the following covenants and provisions that are applicable to such member: (a) to take all steps promptly to obtain and maintain all necessary patent, trademark, copyright and software registrations, in the Company’s reasonable commercial judgment with advice of counsel, in all relevant jurisdictions, for the protection of the intellectual property rights of the Group; (b) to: (i) keep proper books of record and account, in which full and correct entries shall be made of all transactions, the assets and properties and businesses of the Group in accordance with IFRS or U.S. GAAP, and (ii) establish, maintain and administer an effective system of financial and accounting controls satisfactory to the Investors; and (c) to institute and keep in place such arrangements as are reasonably satisfactory to the Investors such that the Company (i) will at all times control the operations of the PRC Subsidiary and the Domcos, and (ii) will at all times be permitted to properly consolidate the financial results for the PRC Subsidiary and the Domcos in the consolidated financial statements for the Company prepared under IFRS or U.S. GAAP.
Appears in 4 contracts
Samples: Shareholder Agreement, Shareholder Agreement (111, Inc.), Shareholder Agreement (111, Inc.)
