Representations of Party A. Party A represents and warrants to ------------------------------ Party B as follows: 2.3.1 Party A is a duly organized enterprise validly existing under the laws of People's Republic of China; 2.3.2 Party A has full corporate capacity, power and authority and all necessary governmental approvals (other than those referred to in section 7.2.1) to enter into and perform each of its obligations hereunder (including Party A's obligations to arrange for the Company to be granted the Mining License); 2.3.3 the execution and delivery of this Contract and the observance and performance hereof have been duly authorized by all necessary corporate action on the part of Party A; 2.3.4 this Contract has been duly executed and delivered by Party A and constitutes legal, valid and binding obligations enforceable against it; 2.3.5 the execution, delivery and performance by Party A of this Contract does not and will not constitute a default under any material agreement to which it is a party, any governmental regulation, approval or order to which it is subject, or any provision of its incorporation documents; 2.3.6 only government approvals from government authorities stated in article 7.2.1 are required in respect of this contract or the operation of the Company as contemplated hereunder; 2.3.7 the Company shall be required to pay no taxes, duties, royalties, license fees or other payments of any kind except only for those described in section 12.1; 2.3.8 Party A shall deliver to Party B all information concerning diamonds in respect of Mine 701 that is in Party A's possession or control, and such information is accurate and complete; 2.3.9 neither Party A nor any other person that has engaged in the exploration for or the mining of diamonds at Mine 701 has violated or is violating any environmental law or regulation to which such property is subject, and Party A is not aware of any adverse environmental condition on or affecting Mine 701, or of the past or present activities of any person in respect thereof which has caused or is likely to cause or contribute to any adverse environmental condition at Mine 701; and 2.3.10 Party A is the owner of all the Existing Assets, free and clear of all liens, mortgages or other encumbrances of any kind. 2.3.11 As consideration in signing this contract, Party A has acknowledged receipt of U.S. $5,000 from Party B. This $5,000 is payment for 50% of the cost of the Feasibility Study.
Appears in 2 contracts
Samples: Joint Venture Agreement (Pan Asia Mining Corp), Joint Venture Agreement (Pan Asia Mining Corp)
Representations of Party A. Party A represents and warrants to ------------------------------ Party B ---------------------------- as follows:
2.3.1 Party A is a duly organized enterprise validly company validly, existing under the laws of People's Republic of China;
2.3.2 Party A has full corporate capacity, power and authority and all necessary governmental approvals (other than those referred to in section 7.2.1article 7.
2.1) to enter into and perform each of its obligations hereunder (including Party A's obligations to arrange for the Company to be granted the Exploration and Mining License);
2.3.3 the execution and delivery of this Contract and the observance and performance hereof have been duly authorized by all necessary corporate action on the part of Party A;
2.3.4 this Contract has been duly executed and delivered by Party A and constitutes legal, valid and binding obligations enforceable against it;
2.3.5 the execution, delivery and performance by Party A of this Contract does not and will not constitute a default under any material agreement to which it is a party, any governmental regulation, approval or order to which it is subject, or any provision of its incorporation documents;
2.3.6 only government approvals from government authorities stated in article 7.2.1 are required in respect of this contract or the operation of the Company company as contemplated hereunder;
2.3.7 the Company shall be required to pay no taxes, duties, royalties, license fees or other payments of any kind except only for those described in section article 12.1;
2.3.8 upon signing of this Contract, Party A shall deliver to Party B all information concerning diamonds or other precious gems in respect of Mengyin County (other than Mine 701 701) that is in Party A's possession or control, and such information is accurate and complete;; and
2.3.9 neither Party A nor any other person that has engaged in the exploration for or the mining of diamonds at or other precious gems in any property in Mengyin County (other than Mine 701 701) has violated or is violating any environmental law or regulation to which such property is subject, and Party A is not aware of any adverse environmental condition on or affecting Mine 701such property, or of the past or present activities of any person in respect thereof thererof which has caused or is likely to cause or contribute to any adverse environmental condition at Mine 701; and
2.3.10 Party A is the owner of all the Existing Assets, free and clear of all liens, mortgages or other encumbrances of any kindon such property.
2.3.11 As consideration in signing this contract, Party A has acknowledged receipt of U.S. $5,000 from Party B. This $5,000 is payment for 50% of the cost of the Feasibility Study.
Appears in 2 contracts
Samples: Joint Venture Agreement (Pan Asia Mining Corp), Joint Venture Agreement (Pan Asia Mining Corp)
Representations of Party A. Party A represents and warrants to ------------------------------ Party B as follows:
2.3.1 2.3.1. Party A is a duly organized enterprise company validly existing under the laws of People's Republic of Chinachina;
2.3.2 2.3.2. Party A has full corporate capacity, power and authority and all necessary governmental approvals (other than those referred to in section 7.2.1article 7.
2.1) to enter into and perform each of its obligations hereunder (including Party A's obligations to arrange for the Company to be granted the Mining License)hereafter;
2.3.3 2.3.3. the execution and delivery of this Contract and the observance and performance hereof have been duly authorized by all necessary corporate action on the part of Party A;
2.3.4 2.3.4. once signing this Contract, Party A is kept within the bounds of this Contract has been duly executed and delivered by Party A and constitutes legal, valid and binding obligations enforceable against itaccording to relevant laws;
2.3.5 2.3.5. the execution, delivery and performance by Party party A of this Contract does not and will not constitute a default under any material agreement to which it is a party, any governmental regulation, approval or order to which it is subject, or any provision of its incorporation documents;
2.3.6 2.3.6. only government approvals from government authorities stated in article 7.2.1 are required in respect of this contract or the operation of the Company company as contemplated hereunderhereafter;
2.3.7 2.3.7. the Company shall be required to pay no taxes, duties, royalties, license fees or commissions and other payments of any kind except only for those described in section 12.1;
2.3.8 2.3.8. Party A shall deliver to Party B all the accurate information concerning diamonds copper and accompanying precious metals in respect of Mine 701 Zou Ping County that is in Party party A's possession or control, and such information is accurate and complete;
2.3.9 neither 2.3.9. before Party A nor and Party B jointly explore and mine copper and accompanying precious metals, any environmental pollution resulted from exploration and mining the above mineral resources by Party A and any other person that party has engaged in nothing to do with the exploration for or the mining of diamonds at Mine 701 has violated or is violating any environmental law or regulation to which such property is subjectCompany, and Party A is not aware warrants that no such pollution has occurred before the cooperation of any adverse environmental condition on or affecting Mine 701, or of the past or present activities of any person in respect thereof which has caused or is likely to cause or contribute to any adverse environmental condition at Mine 701; andboth parties
2.3.10 2.3.10. Party A is the owner of all the Existing Assets, Assets that are free and clear of all liens, mortgages or other encumbrances of any kind.
2.3.11 As consideration in signing this contract, Party A has acknowledged receipt of U.S. $5,000 from Party B. This $5,000 is payment for 50% of the cost of the Feasibility Study.
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