Common use of Representations and Warranties of the Transferee Clause in Contracts

Representations and Warranties of the Transferee. 5.1 The Transferee is a company duly established and validly existing under the PRC laws and regulations. 5.2 All consents, approvals and authorizations necessary for the execution of this Agreement have been duly and lawfully obtained. The performance and execution of this Agreement hereunder by the Transferees in accordance with the provisions of this Agreement does not and will not contravene any documents or contracts binding on the Transferee. 5.3 The Transferee will make the full payment hereunder on time according to the terms and conditions hereunder.