Examples of IPA China in a sentence
As promptly as possible, Shareholder shall obtain approval by the relevant government authorities for the transfer of 100% of the equity interests of IPA China to IPA BVI.
Xxxx Xxxxxxxx will be the Chief Executive Officer of Acquirer upon the First Closing, and of IPA BVI and IPA China upon the Second Closing; Xxxxxxx Xxxx will be the Chief Financial Officer, Treasurer and Secretary of Acquirer upon the First Closing, and of IPA BVI and IPA China upon the Second Closing.
Shareholder shall manage and control the operations of IPA China and IPA BVI through the Second Closing.
Xxxx Xxxxxxxx will be the initial Chief Executive Officer of IPA BVI and IPA China, effective as of the Second Closing.
Each of the representations and warranties contained in Sections 3 and 4 shall be true and correct on and as of the Second Closing Date and, to the extent not true or correct, represent a reduction in the value of IPA China, IPA BVI or the Grass Assignment for which Shareholder has declined to promptly reimburse Acquirer.
Licensor shall deliver to IPA China an assignment to IPA China of the Grass License, duly executed by Licensor (the “Grass Assignment”).
IPA China is a wholly owned foreign entity duly organized and existing under the laws of the PRC and is in good standing under such laws.
The parties hereby acknowledge and agree that Licensor has executed the Grass License and has delivered the executed Grass License to IPA China.
As of the First Closing, neither Target is a Passive Foreign Investment Company (“PFIC”) within the meaning of Section 1297 of the United States Internal Revenue Code of 1986, as amended, and IPA China does not reasonably expect to become a PFIC in the future.
After obtaining such funds from IPA BVI or IPA China, Acquirer shall deliver the loan proceeds within ten (10) days after receipt of any such written request.