Compliance with Laws; Consents and Permits. None of the Group Companies is in violation of any applicable statute, rule, regulation, directive, order or restriction of any domestic or foreign government or any instrumentality or agency thereof in respect of the conduct of its business or the ownership of its properties. All consents, licenses, permits, approvals, orders, authorizations or registrations, qualifications, designations, declarations or filings by or with any governmental authority and any third party which are required to be obtained or made by each Group Company and each of the Founders in connection with the consummation of the transactions contemplated hereunder shall have been obtained or made prior to and be effective as of the Initial Closing. Each Group Company has all material franchises, permits, licenses and any similar authority necessary for the conduct of its business as currently conducted and as proposed to be conducted, the absence of which would be reasonably likely to have a Material Adverse Effect. None of the Group Companies is in material default under any of such franchises, permits, licenses or other similar authority. The establishment of the Company and the acquisition of all shares of capital stock of the Company currently issued and outstanding were undertaken in compliance with all relevant rules and regulations of the PRC, and all filings and registrations with the relevant PRC authorities as required in connection with such establishment and acquisition of shares have been duly undertaken and completed.
Appears in 3 contracts
Samples: Series a Preferred Share Purchase Agreement, Series a Preferred Share Purchase Agreement (Trina Solar LTD), Series a Preferred Share Purchase Agreement (Trina Solar LTD)
Compliance with Laws; Consents and Permits. None of the Group Companies is in violation of any applicable statute, rule, regulation, directive, order or restriction of any domestic or foreign government or any instrumentality or agency thereof in all material respects in respect of the conduct of its business or the ownership of its properties. All consents, licenses, permits, approvals, orders, authorizations or registrations, qualifications, designations, declarations or filings by or with any governmental authority and any third party which are required to be obtained or made by each Group Company and each of the Founders Founder in connection with the consummation of the transactions contemplated hereunder shall have been obtained or made prior to and be effective as of the Initial Closing. Based in part on the representations of each of the Investors set forth in Section 4 below, the offer, sale and issuance of the Purchased Shares in conformity with the terms of this Agreement are exempt from the registration and prospectus delivery requirements of the United States Securities Act of 1933, as amended (the “Act”), and each other analogous provision of applicable securities law. Each Group Company has all material franchises, permits, licenses and any similar authority necessary for the conduct of its business as currently conducted and as proposed to be conducted, the absence of which would be reasonably likely to have a Material Adverse Effect. None of the Group Companies is in default in any material default respect under any of such franchises, permits, licenses or other similar authority. The establishment of the Company and the acquisition of all shares of capital stock of the Company currently issued and outstanding were undertaken in compliance with all relevant rules and regulations of the PRC, and all filings and registrations with the relevant PRC authorities as required in connection with such establishment and acquisition of shares have been duly undertaken and completed.
Appears in 2 contracts
Samples: Series a Preferred Share Purchase Agreement (Le Gaga Holdings LTD), Series A1 Preferred Share Purchase Agreement (Le Gaga Holdings LTD)
