Common use of Increase of Subsidiaries of Party B Clause in Contracts

Increase of Subsidiaries of Party B. If, at any time after the effective date of this agreement, any new Subsidiaries of Party B are added, Party B and Party C shall cause such new Subsidiary to sign confirmation letter of which the format and contents of Right and Obligation Assumption Letter listed in Appendix III or other legal documents permitted or required by the PRC laws to make such new subsidiary to enjoy and undertake all the rights and obligations under this Agreement as those of Subsidiaries of Party B hereunder. As of the date of signature of such Right and Obligation Assumption Letter or other legal documents, the new subsidiary should be deemed as one party to this Agreement. Other Parties of the Agreement hereby agree with such arrangements.

Appears in 2 contracts

Samples: Exclusive Management Service and Business Cooperation Agreement (17 Education & Technology Group Inc.), Exclusive Management Service and Business Cooperation Agreement (17 Education & Technology Group Inc.)

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Increase of Subsidiaries of Party B. If, If Subsidiaries of Party B increase at any time after the effective date effectiveness of this agreement, any new Subsidiaries of Party B are addedAgreement, Party B and Party C shall cause such new Subsidiary subsidiary to sign confirmation letter of which the format and contents of Right and Obligation Assumption Letter listed in Appendix III or other legal documents permitted or required by the PRC laws to make such new subsidiary to enjoy and undertake all the rights and obligations under this Agreement as those of Subsidiaries of Party B hereunder. As of the date of signature execution of such Right and Obligation Assumption Letter or other legal documents, the new subsidiary should be deemed as one a party to this Agreement. Other Parties of the Agreement hereby agree with such arrangements.

Appears in 2 contracts

Samples: Exclusive Management Service and Business Cooperation Agreement (Bright Scholar Education Holdings LTD), Exclusive Management Service and Business Cooperation Agreement (Bright Scholar Education Holdings LTD)

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Increase of Subsidiaries of Party B. If, If Subsidiaries of Party B increased at any time after the effective date effectiveness of this agreement, any new Subsidiaries of Party B are addedAgreement, Party B and Party C shall cause such new Subsidiary subsidiary to sign confirmation letter of which the format and contents of Right and Obligation Assumption Letter listed in Appendix III or other legal documents permitted or required by the PRC laws to make such new subsidiary to enjoy and undertake all the rights and obligations under this Agreement as those of Subsidiaries of Party B hereunder. As of the date of signature of such Right and Obligation Assumption Letter or other legal documents, the new subsidiary should be deemed as one party to this Agreement. Other Parties of the Agreement hereby agree with such arrangements.

Appears in 1 contract

Samples: Exclusive Business Cooperation Agreement (TAL Education Group)

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