Examples of China NewCo in a sentence
Upon approval of such Registered Capital, the parties shall cause Offshore Newco, directly or through an Additional Entity, to contribute to China Newco the Cash Contribution.
As and to the extent required, as determined by the mutual agreement of parties, Offshore Newco will lend all or a portion of the remainder of the Master Gain Investment to China Newco, provided, however, such amount shall not exceed the approved Loan amount.
Subject to the agreement of both managing directors, each managing director shall have the authority to sign any and all agreements and other documents in connection with Offshore Newco or China Newco, as applicable.
Xxxxx as attorney-in-fact with full power and authority on behalf of Offshore Newco and/or China Newco, as the case may be, to endorse any instruments and execute any such documents as may be necessary to effectuate the foregoing.
The Managing Directors of each of Offshore Newco and China Newco shall prepare an annual line item operating budget for such entity for each fiscal year, prepared at least sixty (60) days prior to the start of each fiscal year, which budget shall set forth, on a monthly basis, all receipts projected for the fiscal year and all expenses, by category, including any capital expenditures, for the fiscal year ("Annual Budget").
To the extent that Offshore Newco, China Newco or an Additional Entity seeks or obtains additional capital in the form of loans from third parties (including financial institutions), none of BT, BTFE or Master Gain shall be required to provide such lender credit enhancements in the form of guaranties or otherwise.
If the parties determine that it would be in the interest of the Venture to acquire or obtain an option to acquire any of such Venture Opportunities prior to the formation of Offshore Newco and/or China Newco, Lior may enter into contracts to acquire such Venture Opportunities or obtain an option to acquire such Venture Opportunities through an entity controlled by him on terms and conditions satisfactory to the parties hereto.
Annex A of the Credit Agreement is hereby amended as of the Seventh Amendment Effective Date by deleting the word “and” before clause (l) in the definition of “Excluded European Subsidiaries” and adding “, (m) China Newco and (n) Singapore Newco until such time as Singapore Newco becomes a European Credit Party under the Credit Agreement” at the end of such clause (l) therein.
It is the intention of the parties hereto, that China Newco be formed as a wholly foreign owned enterprise, commonly referred to in the PRC as a "WFOE".
All bank accounts opened for Offshore Newco, China Newco and/or any Intermediate Entity or Additional Entity, will be with such international banking institutions, as BT shall determine, that, to the extent possible, have operations in the United States as well as in China and in the domiciliary jurisdiction of Offshore Newco.