Statement, Guarantee and Commitment Sample Clauses
Statement, Guarantee and Commitment. Party A and Party B have made the following statements, guarantee and commitments:
1. Party A is a legally founded and validly existing company in accordance with relevant laws of the People’s Republic of China;
2. Party A owns the right of office equipment transferring and has the necessary act capacity.
3. Party B has made fully inspection on the office equipment of Party A and agrees with the transfer according to this Contract;
4. Party B guarantees to be capable of fully paying the transfer price and perform its obligations as regulated in this Contract; Party A and Party B shall arrange relevant person for handling the transfer procedure and the office equipment list shall come into effect only after bearing the signatures of representatives of both parties.
Statement, Guarantee and Commitment. 5.1 One party shall make the following statements and guarantees to the other party:
(1) The party shall be a legal entity incorporated and existing validly in accordance with Laws of China, or resident with complete capacity for civil conduct, and capable to undertake civil liabilities independently.
(2) The party owns legal rights, license and authority to sign and perform this agreement, and this agreement becomes effective and binding upon the party after taking effect.
5.2 The Seller shall make the following statements and guarantees to the Buyer:
(1) The Target Company is a limited liability company incorporated and surviving validly in accordance with relevant laws and regulations, and owning adequate power, authorization and legal rights.
(2) As of the signing date of this agreement, the registered capital of the Target Company is RMB 7.5 Million Yuan and fully paid in. There is no behavior such as false contribution and untrue contribution that the shareholder shall undertake obligations and responsibilities.
(3) The Seller owns legal, valid and complete right of disposal for equity of the target equity, and is not involved in sealing, detention, freezing or holding, or any transfer restriction.
5.3 The Buyer shall make the following statements and guarantees to the Seller:
(1) The Buyer shall pay transfer price of the target equity to the Seller pursuant to terms and conditions hereof;
(2) The transfer price paid by the Buyer to the Seller shall be legally owned or self-raising fund;
5.4 Both parties promise that any statement and guarantee made hereof shall be authentic, accurate and complete from the signing date to the settlement date.
Statement, Guarantee and Commitment