This excerpt taken from the NCTY 20-F filed Jun 28, 2007.
Article 2 Representations and Warranties of Purchaser
Purchaser represents and warrants to Seller as follows:
2.1 Purchasers Legal Status and Capacity
Purchaser has full and independent status and legal capacity to execute, deliver and perform this Agreement, and to act as an independent party in any legal proceeding. To the best knowledge of Purchaser, up to the execution of this Agreement, he has not been involved in any litigation, arbitration, and other events or situations that may adversely affect in material respects his completion of the transaction and performance of his obligations under this Agreement.
2.2 Authorization and Approval
Purchaser has all requisite powers and rights to execute and deliver this Agreement and all other documents in connection with this Agreement, and all requisite powers and rights to complete the transaction under this Agreement. This Agreement will be legally and properly signed and delivered by Purchaser, and shall constitute effective and binding obligations of Purchaser and be enforceable against Purchaser according to its provisions. All the other documents which are in connection with this transaction and will be executed by Purchaser shall constitute effective and binding obligations of Purchaser after such documents have been duly executed and delivered, and will be enforceable against Purchaser according to the provisions thereof.