Common use of Establishment of the Wholly-Foreign Owned Enterprise Clause in Contracts

Establishment of the Wholly-Foreign Owned Enterprise. The Seller and the Seller's Shareholder undertake that prior to the First Closing Date: (1) cause the Company to establish a wholly-foreign owned enterprise in Beijing (the issuance of the Business License shall be deemed to be the completion of the establishment), in which the Company holds all the equity of interest; (2) such wholly-foreign owned enterprise and Beijing Xxxxxx shall entered into a series of Controlling Agreements in accordance with the form set forth in Exhibit 5.06, which is valid, bind and enforceable.

Establishment of the Wholly-Foreign Owned Enterprise. The Seller and the Seller's ’s Shareholder undertake that prior to the First Purchase Closing Date: (1) cause the Company to establish a wholly-foreign owned enterprise in Beijing (the issuance of the Business License shall be deemed to be the completion of the establishment), in which the Company holds all the equity of interest; (2) such wholly-foreign owned enterprise enterprise, Sanwei Advertisement and Beijing Xxxxxx its shareholders shall entered into a series of Controlling Agreements in accordance with the form set forth in Exhibit 5.06, which is valid, bind binding and enforceable.

Establishment of the Wholly-Foreign Owned Enterprise. The Seller and the Seller's Shareholder undertake that prior to the First Purchase Closing Date: (1) cause the Company to establish a wholly-foreign owned enterprise in Beijing (the issuance of the Business License shall be deemed to be the completion of the establishment), in which the Company holds all the equity of interest; (2) such wholly-foreign owned enterprise enterprise, Sanwei Advertisement and Beijing Xxxxxx its shareholders shall entered into a series of Controlling Agreements in accordance with the form set forth in Exhibit 5.06, which is valid, bind binding and enforceable.