Examples of WFOE II in a sentence
Taxation — People’s Republic of China Enterprise Taxation.” In order for us to pay dividends to our shareholders, we will rely on payments made from Long Yun to WFOE II, pursuant to contractual arrangements between them, and the distribution of such payments to Longyun HK as dividends from our PRC subsidiaries.
Certain payments from our Long Yun to WFOE II are subject to PRC taxes, including business taxes and VAT.
WFOE I and WFOE II shall be collectively referred to as the “WFOEs.”The purpose and design of the VIE Agreements between the WFOEs and HangZhou Longyun, was to consolidate Hangzhou Longyun under the Company by way of common control.
Any purchase price for the Put Equity Interests in excess of the amount of the Preference D&D+ Repurchase Price for such Member of Series D+ Options shall remain entirely at the disposal of the Company indirectly through the the WFOE II or the JV Entity or any other Group Company designated by the Company.
Any such liquidation proceeds or other Distributions in excess of the amount of the Liquidation Payments to Option Holders shall remain entirely at the disposal of the Company indirectly through the the WFOE II or the JV Entity.
There was no change to Long Yun’s capital structure.The Company decided to replace WFOE I with WFOE II in order to take full advantage of certain preferential tax treatments and subsidies granted by the local government of Shangcheng District of Hangzhou, Zhejiang province, where WFOE II was incorporated.On August 3, 2018, WFOE II established Shenzhen Guanpeng International Technology Co., Ltd (“Guanpeng”).
The Depositary may at any time resign as Depositary under the Deposit Agreement by written notice of resignation delivered to the Company, such resignation to be effective upon the earlier of (i) the 90th day after delivery thereof to the Company (whereupon the Depositary shall be entitled to take the actions contemplated in Section 6.2 of the Deposit Agreement), or (ii) the appointment by the Company of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement.
The JV Entity is 100% held by the WFOE II as of the date of this Agreement and immediately prior to the Closing, but as of the date of and immediately after the Closing, the JV Entity is 96.0942% held by the WFOE II, and it has obtained the equity holdings in JV Entity in compliance with applicable Laws.
Any such dividends or Distributions in excess of the amount of the Members of Series D+ Options’ Dividends shall remain entirely at the disposal of the Company indirectly through the WFOE II or the JV Entity.
As of the date of this Agreement and the date of the Closing, the JV Entity is 95.9060% held by the WFOE II, and it has obtained the equity holdings in JV Entity in compliance with applicable Laws.