Common use of Before Party Clause in Contracts

Before Party. A (or any third party designated by Party A) acquires 100% equity or interest of Party C by exercising the option, unless with prior written consent of Party A (or any third party designated by Party A), Party C may not: (a) sell, transfer, pledge or otherwise dispose any asset, business or income, or allow creation of any other security interest thereon, except during ordinary or routine course of business or having been disclosed to and received express prior written consent from Party A; (b) conclude any transaction which may have material adverse effect on its assets, liabilities, operations, equity interest or other legitimate rights, except during ordinary or routine course of business or having been disclosed to and received express prior written consent from Party A; (c) distribute any dividend or bonus to its shareholders; (d) incur, assume, provide security for or permit existence of any debt, except for (i) any debt incurred during ordinary or routine course of business and not from borrowing; or (ii) any debt which has been disclosed to and received express prior written consent from Party A; (e) execute any material contract, except during ordinary or routine course of business (for purposes of this paragraph, a contract with a value exceeding RMB 50,000 shall be deemed as a material contract); (f) increase or decrease the registered capital of Party C at any shareholders meeting or otherwise change the structure of its registered capital; (g) make any supplement, change or amendment to the articles of association of Party C; or (h) merge or form alliance with, acquire or invest in any person.