Subsidiaries; Group Structure. (a) Except for (i) the HK Co., one hundred percent (100%) of the equity interests of which are owned by the Company, (ii) the WFOE, one hundred percent (100%) of the equity interests of which are owned by the HK Co., and (iii) Domestic Co., eighty six point eighty four percent (86.84%) of the equity interests of which are owned directly by the Founders, none of the Group Companies presently owns or controls, directly or indirectly, any interest in any other corporation, partnership, trust, joint venture, association, or other entity or maintains any offices or branches or subsidiaries. (b) Each of the PRC Companies shall possess all requisite approvals, permits and licenses for the conduct of the Business as currently conducted and proposed to be conducted and for the ownership and operation of its assets and property. (c) Except for the Group Companies and the BVI Companies, and except as set forth in Section 3.02 of the Disclosure Schedule, the Founders do not presently own or control, directly or indirectly, any interest in any other corporation, partnership, trust, joint venture, association, or other entity which engages in business related to design, manufacturing, research and development of electric scooters or electric vehicles.
Appears in 3 contracts
Samples: Additional Series a 3 Preferred Shares Purchase Agreement, Additional Series a 3 Preferred Shares Purchase Agreement (Niu Technologies), Additional Series a 3 Preferred Shares Purchase Agreement (Niu Technologies)
Subsidiaries; Group Structure. (a) Except for (i) the HK Co., one hundred percent (100%) of the equity interests of which are owned by the Company, (ii) the WFOE, one hundred percent (100%) of the equity interests of which are owned by the HK Co., and (iii) Domestic Co., eighty six point eighty four percent (86.84%) of the equity interests of which are owned directly by the Founders, none of the Group Companies presently owns or controls, directly or indirectly, any interest in any other corporation, partnership, trust, joint venture, association, or other entity or maintains any offices or branches or subsidiaries.
(b) Each of the PRC Companies shall possess all requisite approvals, permits and licenses for the conduct of the Business as currently conducted and proposed to be conducted and for the ownership and operation of its assets and property.
(c) Except for the Group Companies and the BVI Companies, and except as set forth in Section 3.02 3.03 of the Disclosure Schedule, the Founders do not presently own or control, directly or indirectly, any interest in any other corporation, partnership, trust, joint venture, association, or other entity which engages in business related to design, manufacturing, research and development of electric scooters or electric vehicles.
Appears in 2 contracts
Samples: Series B Preferred Shares Purchase Agreement (Niu Technologies), Series B Preferred Shares Purchase Agreement (Niu Technologies)
