Common use of PARTY B HEREBY WARRANTS THAT Clause in Contracts

PARTY B HEREBY WARRANTS THAT. 9.1 It is an enterprise duly established and lawfully existing in accordance with the laws of China with the status of enterprise legal person and the full capacity of civil disposition to execute and perform this Contract; 9.2 It executes and performs this Contract with proper authorization from its board of directors or any other authority; 9.3 All the documents, information and instruments it has provided concerning itself, the guarantor, the mortgagor (the pledgor) and the security (the collateral) are true, accurate, complete and valid, and do not contain any material mistakes with reference to the facts or omit any material facts; 9.4 At the time of signing of this Contract, there is no litigation, arbitration or criminal or administrative penalty which has material adverse effects on Party B or its major assets, nor the occurrence of such litigation, arbitration or criminal or administrative penalty is expected during performance of this Contract, and Party B shall forthwith notify Party A of any occurrence of such litigation, arbitration or criminal or administrative penalty; 9.5 It will keep its operations in full compliance with the national laws and regulations, conduct business within the business scope prescribed in its Business License for Enterprise Legal Person, and keep the registration of enterprise (legal person) in force by going through the annual examination formalities; 9.6 It will maintain or improve its current operation and management, and ensure that its existing assets remain stable or appreciate in value; it will not waive its claim for the matured liabilities and dispose of its existing major assets for no consideration or in other improper manners; 9.7 At the time of signing of this Contract, there occurs no material event which will affect Party B's performance of its obligations hereunder.