VIE Entity definition
Examples of VIE Entity in a sentence
As soon as practicable after the signing of this Agreement, the Company shall, and shall cause WFOE, VIE Entity, the nominee shareholders of VIE Entity (other than the nominee shareholder that is an Affiliate of THL) and the board members and legal representatives of WFOE and VIE Entity to, enter into and obtain (as applicable) all applicable documents set out in Section 6.09 of the Disclosure Schedule in the form and substance to the reasonable satisfaction of THL.
The WFOE is a party to certain variable interest entity contracts with each VIE Entity, and the shareholders thereof (the “VIE Shareholders”), which are set forth on Schedule 4.4(b) (the “VIE Contracts”), pursuant to which the profits of each VIE Entity are paid to the WFOE and each VIE Entity is contractually controlled by the WFOE.
If [VIE Entity] has no sufficient funds to repay its debts, Party B is responsible for paying off these debts on behalf of [VIE Entity]; if [VIE Entity]’s net assets are lower than its registered capital, Party B is responsible for funding the deficit.
Except as contemplated by Schedule 4.09, all Taxes, costs or expenses arising out of or in connection with replacing Sohu Nominee as a nominee shareholder of VIE Entity shall be borne by the party incurring such Taxes, costs or expenses, in accordance with applicable Law.
Each of the Parties shall, and shall ensure that each of its Affiliates and any shareholder of the VIE Entity designated by it, performs its obligations under the Control Documents to the fullest extent, carries out the terms and the intent of the Control Documents and ensures that each Control Document is valid and binding, in full force and effect and enforceable in accordance with its terms.