Company Business. 1.1 The Seller is a limited company duly incorporated under PRC laws and is validly existing, is not subject to any order or claim or resolution passed from the liquidator, and its assets has not been detained, enforced or in the process of enforcement. No indebtedness shall be repaid by the Seller; no one has appointed receiver or administrator in respect of all or part of the business and the assets of the Seller; nor does any order have been made in relation to such appointment. 1.2 The Sell has the power to execute, deliver and perform this Agreement and has carried out necessary activities to authorize such execute, deliver and perform. This Agreement creates the legal, effective and binding obligation to the Seller, and such obligation is enforceable pursuant to this Agreement.
Appears in 8 contracts
Samples: Asset Transfer Agreement (Focus Media Holding LTD), Asset Transfer Agreement (Focus Media Holding LTD), Asset Transfer Agreement (Focus Media Holding LTD)
