Common use of Statements and Guarantees Clause in Contracts

Statements and Guarantees. a) Party A hereby states and guarantees as follows: (1) Party A has all the necessary authorizations to formally and effectively sign and perform the Contract and possess all the necessary powers and capabilities to lease the House to Party B in accordance with applicable laws. (2) Party A’s signing and performance of the Contract shall not constitute a violation of the applicable law or any contract signed by Party A with any third party. (3) Party A guarantees that the House has been built and in good condition in accordance with applicable laws (including but not limited to safety and health related laws and regulations) and has legal ownership over it. b) Party B hereby states and guarantees as follows: (1) Party B has all the necessary authorizations to formally and effectively sign and perform the Contract. (2) Party B has legal business qualification. During the renewal of the Contract, Party B will engage in business activities in accordance with the scope of its business license, and its business activities must comply with the relevant provisions of national laws and regulations. (3) Party B promises not to disclose any information involved in the Contract to any third party, including but not limited to the rental price. If Party B’s behavior leaks any of above mentioned information, Party A reserves the right to retroactively indemnify Party B.

Statements and Guarantees. a) Party A hereby states and guarantees as follows: (1) Party A has all the necessary authorizations to formally and effectively sign and perform the Contract and possess all the necessary powers and capabilities to lease the House to Party B in accordance with applicable laws. (2) Party A’s 's signing and performance of the Contract shall not constitute a violation of the applicable law or any contract signed by Party A with any third party. (3) Party A guarantees that the House has been built and in good condition in accordance with applicable laws (including but not limited to safety and health related laws and regulations) and has legal ownership over it. b) Party B hereby states and guarantees as follows: (1) Party B has all the necessary authorizations to formally and effectively sign and perform the Contract. (2) Party B has legal business qualification. During the renewal of the Contract, Party B will engage in business activities in accordance with the scope of its business license, and its business activities must comply with the relevant provisions of national laws and regulations. (3) Party B promises not to disclose any information involved in the Contract to any third party, including but not limited to the rental price. If Party B’s behavior leaks any of above mentioned information, Party A reserves the right to retroactively indemnify Party B.