Bulletin No. 7. From and after the Closing, the Company shall indemnify and hold harmless, on an after-tax basis, each Company Shareholder forthwith on demand from and against all Transfer Taxes (as defined in the Business Combination Agreement) and penalties or interests thereon pursuant to Bulletin No. 7 asserted by a Governmental Authority in the People’s Republic of China and all reasonable costs and expenses incurred by such Company Shareholder, in each case, arising or resulting from or in connection with the transactions contemplated under the Business Combination Agreement. “Bulletin No. 7” shall mean Bulletin No. 7 issued by the State Taxation Administration of the People’s Republic of China on February 3, 2015, titled “Bulletin on Certain Questions relating to the Enterprise Income Tax of Indirect Transfers of Assets by Non-Resident Enterprises (关于非居民企业间接转让财产企业所得税若干问题的公告)”, and any amendment, implementing rules, or official interpretation thereof or any replacement, successor or alternative legislation having the same subject matter thereof. The indemnification obligations provided herein shall terminate upon the expiration of forty-eight (48) months after the Closing.
