Common use of Compliance with Laws; Orders and Permits Clause in Contracts

Compliance with Laws; Orders and Permits. Each Group Company has been and is in compliance in all material respects with all Laws and Governmental Orders to which such Group Company is subject or by which such Group Company’s assets or properties are bound. Each Group Company owns, holds, possesses or lawfully uses in the operation of its business all Permits that are necessary for it to own or lease its properties and assets and conduct its business as currently conducted and as proposed to be conducted (the “Required Permits”), and all the Required Permits are in full force and effect and no cancellation or suspension of any Required Permit is pending or, to the knowledge of the Company, threatened, except to the extent the failure to own, hold, possess or use the Required Permits would not, individually or in the aggregate, have a Material Adverse Effect. To the knowledge of the Company, any record owner of any Equity Securities of the Company who is a PRC resident under the SAFE Circulars or is otherwise subject to the SAFE Registration Requirements, has fully complied with the SAFE Registration Requirements.

Compliance with Laws; Orders and Permits. Each Group Company has been and is in compliance in all material respects with all Laws and Governmental Orders to which such Group Company is subject or by which such Group Company’s assets or properties are bound. Each Group Company owns, holds, possesses or lawfully uses in the operation of its business all Permits permits that are necessary for it to own or lease its properties and assets and conduct its business as currently conducted and as proposed to be conducted (the “Required Permits”), and all the Required Permits are in full force and effect and no cancellation or suspension of any Required Permit is pending or, to the knowledge Knowledge of the Company, threatened, except to the extent the failure to own, hold, possess or use the Required Permits would not, individually or in the aggregate, have a Material Adverse Effect. To the knowledge Knowledge of the Company, any record owner of any Equity Securities of the Company who is a PRC resident under the SAFE Circulars circulars of the State Administration of Foreign Exchange of the PRC (“SAFE”) or is otherwise subject to the SAFE Registration Requirementsregistration requirements of SAFE, has fully complied with the SAFE Registration such registration Requirements.