Common use of Contracts and Undertakings Clause in Contracts

Contracts and Undertakings. (1) As of the Delivery Date, except for the disclosed information, the Group Company is not a party to any of the following, nor is it under any of the (current or future) legal liability: (i) Any guarantee, indemnity, guarantee relationship or letter of credit other than those in normal business activities; (ii) Any contract or arrangement directly or indirectly restricting the freedom of the Group Company to operate its business anywhere in the world in manners deemed appropriate, or directly or indirectly restricting the ability of the Group Company to transfer all or any part of its business; (iii) Any joint venture contract or arrangement, partnership rights or obligations for the purpose of sharing profits (however, for the avoidance of doubt, does not include arrangements that share fees or operating income on a case-by-case basis) or any other contract or arrangement relating to the involvement of the Group Company in any business together with any other person; (iv) Any contract or arrangement involving matters not falling within the scope of the Group Company’s ordinary business, or business transactions or arrangements constituting a deviation from the usual model of the Group Company; (v) Any contract or arrangement in which any director, supervisor, manager or related party or interested party of the Group Company directly or indirectly have interests, except for employment agreements; (vi) Any contract or arrangement that is not signed in the ordinary course of business and involves expenditure or income of the Group Company of over RMB One Million (RMB1,000,000) within any fiscal year; (vii) Any contract or arrangement with related parties of the Group Company that is not signed in the ordinary course of business and involves payment or income of over RMB One Million (RMB1,000,000); (viii) Any contract or arrangement that the Group Company is unable to terminate by giving a notice three (3) months or less in advance without being subject to any special compensation fees; or (ix) Any contract or arrangement that may be terminated once delivery occurs or the ownership or control of the Group Company changes, or will be subject to material adverse effect because of such changes. (2) As far as it is known to the Founder, the Controlling Shareholder and/or the Company, there is no significant contract to which the Group Company is a party that has been breached, become invalid or has reasons to be terminated, revoked, abolished or refused to be performed, and no such allegations are known, except in the case where the third party of the relevant contracts failed to make payment. (3) The Group Company does not have any tenders or bids or sales or service proposals that are still valid, significant to its business and, if accepted, will likely result in loss.

Contracts and Undertakings. (1) As of the Delivery Datedelivery date, except for the disclosed information, the Group Company is not a party to any of the following, nor is it under any of the (current or future) legal liability: (i) Any guarantee, indemnity, guarantee relationship or letter of credit other than those in normal business activities; (ii) Any contract or arrangement directly or indirectly restricting the freedom of the Group Company to operate its business anywhere in the world in manners deemed appropriate, or directly or indirectly restricting the ability of the Group Company to transfer all or any part of its business; (iii) Any joint venture contract or arrangement, partnership rights or obligations for the purpose of sharing profits (however, for the avoidance of doubt, does not include arrangements that share fees or operating income on a case-by-case basis) or any other contract or arrangement arrangements relating to the involvement of the Group Company in any business together with any other person; (iv) Any contract or arrangement involving matters not falling within the scope of the Group Company’s ordinary business, or business transactions or arrangements constituting a deviation from the usual model of the Group Company; (v) Any contract or arrangement in which any director, supervisor, manager or related party or interested party of the Group Company directly or indirectly have interests, except for employment agreements; (vi) Any contract or arrangement that is not signed in the ordinary course of business and involves expenditure or income of the Group Company of over RMB One Million (RMB1,000,000) RMB1,000,000 within any fiscal year; (vii) Any contract or arrangement with related parties of the Group Company that is not signed in the ordinary course of business and involves payment or income of over RMB One Million (RMB1,000,000); (viii) Any contract or arrangement that the Group Company is unable to terminate by giving a notice three (3) months or less in advance without being subject to any special compensation fees; or (ix) Any contract or arrangement that may be terminated once delivery occurs or the ownership or control of the Group Company changes, or will be subject to material adverse effect because of such changes. (2) As far as it is known to the Founder, the Controlling Shareholder and/or the CompanyCompany are concerned, there is no significant contract to which the Group Company is a party that has been breached, become invalid or has reasons to be terminated, revoked, abolished or refused to be performed, and no such allegations are known, except in the case where the third party of the relevant contracts failed to make payment. (3) The Group Company does not have any tenders or bids or sales or service proposals that are still valid, significant to its business and, if accepted, will likely result in loss.

Contracts and Undertakings. (1) As of the Delivery Date, except for the disclosed information, the Group Company is not a party to any of the following, nor is it under any of the (current or future) legal liability: (i) Any guarantee, indemnity, guarantee relationship or letter of credit other than those in normal business activities; (ii) Any contract or arrangement directly or indirectly restricting the freedom of the Group Company to operate its business anywhere in the world in manners deemed appropriate, or directly or indirectly restricting the ability of the Group Company to transfer all or any part of its business; (iii) Any joint venture contract or arrangement, partnership rights or obligations for the purpose of sharing profits (however, for the avoidance of doubt, does not include arrangements that share fees or operating income on a case-by-case basis) or any other contract or arrangement arrangements relating to the involvement of the Group Company in any business together with any other person; (iv) Any contract or arrangement involving matters not falling within the scope of the Group Company’s ordinary business, or business transactions or arrangements constituting a deviation from the usual model of the Group Company; (v) Any contract or arrangement in which any director, supervisor, manager or related party or interested party of the Group Company directly or indirectly have interests, except for employment agreements; (vi) Any contract or arrangement that is not signed in the ordinary course of business and involves expenditure or income of the Group Company of over RMB One Million (RMB1,000,000) RMB1,000,000 within any fiscal year; (vii) Any contract or arrangement with related parties of the Group Company that is not signed in the ordinary course of business and involves payment or income of over RMB One Million (RMB1,000,000); (viii) Any contract or arrangement that the Group Company is unable to terminate by giving a notice three (3) months or less in advance without being subject to any special compensation fees; or (ix) Any contract or arrangement that may be terminated once delivery occurs or the ownership or control of the Group Company changes, or will be subject to material adverse effect because of such changes. (2) As far as it is known to the Founder, the Controlling Shareholder and/or the CompanyCompany are concerned, there is no significant contract to which the Group Company is a party that has been breached, become invalid or has reasons to be terminated, revoked, abolished or refused to be performed, and no such allegations are known, except in the case where the third party of the relevant contracts failed to make payment. (3) The Group Company does not have any tenders or bids or sales or service proposals that are still valid, significant to its business and, if accepted, will likely result in loss.