Common use of FPI Clause in Contracts

FPI. The Company is a “foreign private issuer” within the meaning of Rule 405 under the Securities Act. (ccc) PFIC. Based the Company’s current estimates of its gross income, its gross assets, the nature of its business and its current business plan, the Company believes that it is not, as of the date hereof, and will not become, upon the sale of the Offered ADSs as contemplated by this Agreement, a “passive foreign investment company” (as defined in Section 1297 of the Code, and the regulations promulgated thereunder).

FPI. The Company is a “foreign private issuer” within the meaning of Rule 405 under the Securities Act. (cccbbb) PFIC. Based on the Company’s historic operations and current estimates of its gross income, its gross assets, the nature of its business and its current business plan, the Company believes that it is not, as of the date hereof, and will not become, upon the sale of the Offered ADSs as contemplated by this Agreement, a “passive foreign investment company” (as defined in Section 1297 of the Code, and the regulations promulgated thereunder).