Communist Chinese Military Companies. The Company does not constitute a “Communist Chinese Military Company” under Executive Order 13959, issued by former President Xxxxx on November 12, 2020 under the authority of Section 1237 of the National Defense Authorization Act for Fiscal Year 1999.
Communist Chinese Military Companies. Although, prior to the date hereof, the U.S. Department of Defense (“DoD”) placed the Company on a list of entities operating directly or indirectly in the United States and deemed to be “Communist Chinese Military Companies” under Executive Order 13959, issued by former President Xxxxx on November 12, 2020 (“EO 13959”) under the authority of Section 1237 of the National Defense Authorization Act for Fiscal Year 1999 (the “Section 1237 List”), the Company does not believe it constitutes a Communist Chinese Military Company and the Company believes it should be removed from Section 1237 List. The Company is using its reasonable best efforts to obtain the removal of the Company from the Section 1237 List. For the avoidance of doubt, nothing in EO 13959 prohibits the transactions contemplated hereby as of the date hereof and/or the Closing Date (other than transactions on or after March 15, 2021, assuming the Company remains on the Section 1237 List and the U.S. government fails to take any action to delay, modify or amend such related laws, rules and/or regulations with respect thereto).
Communist Chinese Military Companies. Although, prior to the date hereof, the U.S. Department of Defense (“DoD”) placed the Company on a list of entities operating directly or indirectly in the United States and deemed to be “Communist Chinese Military Companies” under Executive Order 13959, issued by former President Xxxxx on November 12, 2020 (“EO 13959”) under the authority of Section 1237 of the National Defense Authorization Act for Fiscal Year 1999 (the “Section 1237 List”), as of the date hereof, the Company has been removed from the Section 1237 List and does not constitute a Communist Chinese Military Company. The Company has no reason to believe that it will be deemed to be a Communist Chinese Military Company in the future.
