Currency Conversion and Outbound Investment Approvals. (i) With regards to any funds directly or indirectly invested into Owner JV from the People’s Republic of China in connection with the transactions contemplated herein, all procedures, requirements, filings and approvals shall have been completed to permit and consummate the conversion of Renminbi into US Dollars from an entity located from within the Shanghai Pilot Free Trade Zone and the outbound direct investment by such entity by way of the transfer of the converted US Dollars from the People’s Republic of China to the United States of America (collectively, the “Foreign Investment Approvals”).
Appears in 4 contracts
Samples: Asset Purchase and Contribution Agreement (Hersha Hospitality Trust), Asset Purchase and Contribution Agreement (Hersha Hospitality Trust), Asset Purchase and Contribution Agreement (Hersha Hospitality Trust)
Currency Conversion and Outbound Investment Approvals. (i) With regards to any funds directly or indirectly invested into Owner JV from the People’s Republic of China in connection with the transactions contemplated herein, all procedures, requirements, filings and approvals shall have been completed to permit and consummate the conversion of Renminbi into US Dollars from an entity located from within the Shanghai Pilot Free Trade Zone and the outbound direct investment by such entity by way of 30 the transfer of the converted US Dollars from the People’s Republic of China to the United States of America (collectively, the “Foreign Investment Approvals”).
Appears in 1 contract
Samples: Asset Purchase and Contribution Agreement (Hersha Hospitality Trust)
