Post-Closing Covenants of the Warrantors. 7.2.1 Each of the Warrantors jointly and severally covenants to the applicable Investor after the Closing Date that the Group Companies shall comply with applicable laws in all material respects. 7.2.2 The Company shall execute an employment agreement with each Key Management Staff, containing confidentiality, non-competition, non-solicitation and invention assignment provisions consistent with market practice as soon as possible but in no event shall be later than one (1) month after the Closing Date. 7.2.3 The Company shall, and the Warrantors shall procure the Company to, take reasonable measures to ensure that its Qualified IPO will not be materially advisedly affected by noncompliance with regulations of stock exchanges and security regulators on horizontal competition or related-party transactions as soon as practical, in particular, the Company shall cause a manufacturing cooperation agreement to be entered into by and between a Group Company and Zhejiang Geely Holding Group Limited (or its designated Affiliate(s)) as soon as practical but no later than two (2) months after the Closing. 7.2.4 The Warrantors shall cause the Fifth Restated Constitution to be duly submitted for filing with the appropriate corporate registration authority(ies) of the Cayman Islands as soon as practicable after the Closing Date, and in any event within thirty (30) Business Days of the Closing Date. 7.2.5 The Company shall, and the Warrantors shall cause the Company to, use the proceeds from the issuance and sale of the Purchased Shares for purposes of business operations, business development, investment in related business, and general working capital needs of the Group Companies or otherwise as approved by the Board or the shareholders (as applicable) in accordance with the Transaction Documents. 7.2.6 The Warrantors shall, on a continuous basis, use their reasonable best efforts to, and to urge their respective direct or indirect owners of their shares or equity interest, of record or beneficial, to duly comply with Circular 37 and other applicable PRC laws, to the extent applicable, with respect to such person’s direct and indirect of record or beneficiary ownership of the shares or equity interest in the Company and each other Group Company.
Appears in 6 contracts
Samples: Series a Preferred Share Purchase Agreement (Lotus Technology Inc.), Series a Preferred Share Purchase Agreement (Lotus Technology Inc.), Series a Preferred Share Purchase Agreement (Lotus Technology Inc.)
