Common use of 2Steps for Exercise Clause in Contracts

2Steps for Exercise. Subject to the provisions of the laws and regulations of the PRC, the Foreign-invested Enterprise may exercise the Equity Interest Purchase Option by issuing a written notice to the Existing Shareholders (the “Equity Interest Purchase Notice”), specifying: (a) the Foreign-invested Enterprise’s or the Designee’s decision to exercise the Equity Interest Purchase Option; (b) the portion of equity interests to be purchased by the Foreign-invested Enterprise or the Designee from the Existing Shareholders (the “Purchased Equity Interests”); and (c) the date for purchase/transfer of the Purchased Equity Interests.