Operations of the PRC Companies. To the extent permitted by the PRC laws and commercially reasonable and practical, the Domestic Company shall take all reasonably necessary steps to promptly assign and transfer to the WFOE (pursuant to the Control Documents or otherwise) substantially all of its revenues, earnings and other values and benefits generated from its business operations. The Domestic Company shall, to the extent permitted by applicable law, operate its business at the direction of its board of directors and its shareholders (who have assigned their voting rights to the WFOE). The WFOE shall take all reasonably necessary steps to ensure that the Domestic Company will have funds available to cover its operating expenses and to timely repay its debts as they become due. The Domestic Company, the WFOE and the shareholders of the Domestic Company shall take all reasonably necessary steps to comply with the Control Documents.
Operations of the PRC Companies. The Domestic Co. shall and the Key Parties and Key Parties’ Holdcos shall procure the Domestic Co. to take all reasonably necessary steps to promptly assign and transfer to the PRC Subsidiary (pursuant to the Restructuring Agreements or otherwise) substantially all of its revenues, earnings and other values and benefits generated from its business operations. The Domestic Co. shall, and the Key Parties and Key Parties’ Holdcos shall procure the Domestic Co., to the extent permitted by applicable law, to operate its business at the direction of its board of directors and its shareholders (who have assigned their voting rights to the PRC Subsidiary). The PRC Subsidiary shall and the Key Parties and Key Parties’ Holdcos shall procure the PRC Subsidiary to take all reasonably necessary steps to ensure that the Domestic Co. will have funds available to cover its operating expenses and to timely repay its debts as they become due.
Operations of the PRC Companies. To the extent permitted by the PRC Laws, the Domestic Company, Zhangda and Zhangshi shall take all reasonably necessary steps to promptly assign and transfer to the WFOE (pursuant to the Control Documents, Zhangda Control Document, Zhangshi Control Documents or otherwise) substantially all of its revenues, earnings and other values and benefits generated from its business operations. The Domestic Company, Zhangda and Zhangshi shall each, to the extent permitted by applicable Law, operate its business at the direction of its board of directors and its shareholders (who have assigned their voting rights to the WFOE). The WFOE shall take all reasonably necessary steps to ensure that the Domestic Company, Zhangda and Zhangshi will have funds available to cover its operating expenses and timely repay its debts as they become due.
