Common use of Exercise Steps Clause in Contracts

Exercise Steps. 2.1 Pursuant to the applicable laws of the PRC, Party A shall have the right to determine the time, manner and number of exercises for the Purchase Option. 2.2 Exercise steps to purchase equities: 2.2.1 During the Exercise Period, Party A may send an exercise notice (“Equity Purchase Exercise Notice”) to Party B to exercise the Equity Purchase Option under this Agreement to purchase all or part of the Object Equities or transfer all or part of the Object Equities to a Designee, provided that the laws of the PRC permits at that time. 2.2.2 Upon receipt of the Equity Purchase Notice pursuant to Subsection 2.2.1 above or earlier if requested by Party A, Party B shall immediately: (a) enter into an Equity Transfer Agreement in the format reasonably requested by Party A or its Designees with such modifications as are required by the laws of the PRC; (c) revise the Articles of Association of Party C together with Party A and/or its Designee to ensure that Party A or its Designee may own the Equities of Party C; (d) cause Party C to promptly convene a shareholder’s meeting to pass the resolutions to approve the equity transfer pursuant to the exercise of the Equity Purchase Option and any requested amendment to the Articles of Association of Party C; (e) together with Party A and/or its Designee and other shareholders of Party C at that time, handle all necessary approval and examination, registration and filing procedures required by the laws of the PRC within thirty (30) business days as of the date of receipt of the Equity Purchase Exercise Notice by Party B or an earlier time agreed upon by the parties; and (f) execute all other requisite contracts, agreements or documents, obtain all requisite approvals and consents of the government, conduct all necessary actions to transfer the valid ownership, without any Security Interest, of the Object Equities to Party A and/or its Designee, and cause Party A and/or its Designee to be the registered owner of the Object Equities. 2.3 Exercise steps to purchase assets: 2.3.1 During the Exercise Period, Party A may send an exercise notice (“Assets Purchase Exercise Notice”) to Party C to exercise the Assets Purchase Option under this Agreement, to purchase all or part of the Object Assets owned by Party C or transfer all or part of the Object Assets to a Designee, provided that the laws of the PRC permits at that time. 2.3.2 Once Party C receives the Assets Purchase Exercise Notice pursuant to Subsection 2.3.1 above or earlier if requested by Party A, Party C shall immediately: (a) enter into an Assets Transfer Agreement in the in the format reasonably requested by Party A or its Designees with such modifications as are required by the laws of the PRC; (b) convene a shareholder’s meeting to pass the resolution to approve the exercise of the Assets Purchase Option; and (c) together with Party B and all other shareholders of Party C at that time execute all other requisite contracts, agreements or documents, obtain all requisite approvals and consents of the government, conduct all necessary actions to transfer the valid ownership, without any security interest, of the Object Assets to Party A and/or it Designee, and cause Party A and/or its Designee to be the registered owner of the Object Assets (if necessary). 2.4 Before Party A obtains the Object Equities or the Object Assets by means of exercising either the Equity Purchase Option or the Assets Purchase Option, Party B and/or Party C shall entrust Party A to manage Party C pursuant to the Management Entrustment Agreement entered into by and between Party A and Party C on the same day as this Agreement.

Exercise Steps. 2.1 Pursuant to the applicable laws of the PRC, Party A shall have the right to determine the time, manner and number of exercises purchases for the Purchase Option. 2.2 Exercise steps to purchase equities: 2.2.1 During the Exercise Period, Party A may send an exercise notice (“Equity Purchase Exercise Notice”) to Party B to exercise the Equity Purchase Option under this Agreement to purchase all or part of the Object Equities or transfer all or part of the Object Equities to a Designee, provided that the laws of the PRC permits at that time. 2.2.2 Upon receipt of the Equity Purchase Notice pursuant to Subsection 2.2.1 above or earlier if requested by Party A, Party B shall immediately: (a) obtain the waiver concerning the first refusal of other shareholders of Party C at that time on the purchase of such equities; (b) enter into an Equity Transfer Agreement in the format reasonably requested by attached as Annex 1 hereto with Party A or and/or its Designees with such modifications as are required by Designee according the laws requirements of the PRCEquity Purchase Exercise Notice; (c) revise the Articles of Association of Party C together with Party A and/or its Designee to ensure that Party A or its Designee may own the Equities and other shareholders of Party CC at that time pursuant to the Equity Transfer Agreement; (d) cause Party C to promptly convene a shareholder’s meeting to pass the resolutions to approve the equity transfer pursuant to the exercise of the Equity Purchase Option and any requested the amendment to the Articles of Association of Party C; (e) together with Party A and/or its Designee and other shareholders of Party C at that time, handle all necessary approval and examination, registration and filing procedures required by the laws of the PRC within thirty (30) business days as of the date of receipt of the Equity Purchase Exercise Notice by Party B or an earlier time agreed upon by the parties; and (f) execute all other requisite contracts, agreements or documents, obtain all requisite approvals and consents of the government, conduct all necessary actions to transfer the valid ownership, without any Security Interest, of the Object Equities to Party A and/or its Designee, and cause Party A and/or its Designee to be the registered owner of the Object Equities. 2.3 Exercise steps to purchase assets: 2.3.1 During the Exercise Period, Party A may send an exercise notice (“Assets Purchase Exercise Notice”) to Party C to exercise the Assets Purchase Option under this Agreement, to purchase all or part of the Object Assets owned by Party C or transfer all or part of the Object Assets to a Designee, provided that the laws of the PRC permits at that time. 2.3.2 Once Party C receives the Assets Purchase Exercise Notice pursuant to Subsection 2.3.1 above or earlier if requested by Party A, Party C shall immediately: (a) enter into an Assets Transfer Agreement in the format attached as Annex 2 hereto and any other necessary agreements with Party A and/or its Designee according to the requirements set forth in the format reasonably requested by Party A or its Designees with such modifications as are required by the laws of the PRCAssets Purchase Exercise Notice; (b) convene a shareholder’s 's meeting to pass the resolution to approve the exercise of the Assets Purchase Option; and (c) together with Party B and all other the shareholders of Party C at that time execute all other requisite contracts, agreements or documents, obtain all requisite approvals and consents of the government, conduct all necessary actions to transfer the valid ownership, without any security interest, of the Object Assets to Party A and/or it Designee, and cause Party A and/or its Designee to be the registered owner of the Object Assets (if necessary). 2.4 Before Party A obtains the Object Equities or the Object Assets by means of exercising either the Equity Purchase Option or the Assets Purchase Option, Party B and/or Party C shall entrust Party A to manage Party C pursuant to the Management Entrustment Agreement entered into by and between Party A and Party C on the same day as this Agreement.

Exercise Steps. 2.1 Pursuant to the applicable laws of the PRCP.R.C., Party A shall have the right to determine the time, manner and number of exercises purchases for the Purchase Option. 2.2 Exercise steps to purchase equities: 2.2.1 During the Exercise Period, Party A may send an exercise notice (“Equity Purchase Exercise Notice”) to Party B to exercise the Equity Purchase Option under this Agreement to purchase all or part of the Object Equities or transfer all or part of the Object Equities to a Designee, provided that the laws of the PRC P.R.C. permits at that time. 2.2.2 Upon receipt of the Equity Purchase Notice pursuant to Subsection 2.2.1 above above,or earlier if requested by Party A, Party party B shall immediately: (a) obtain the waiver concerning the first refusalof other shareholders of Party C at that time on the purchase of such equities; (b) enter into an Equity Transfer Agreement in the format reasonably requested by attached as Annex 1 hereto with Party A or and/or its Designees with such modifications as are required by Designee according the laws requirements of the PRCEquity Purchase Exercise Notice; (c) revise the Articles of Association of Party C together with Party A and/or its Designee to ensure that Party A or its Designee may own the Equities and other shareholders of Party CC at that time pursuant to the Equity Transfer Agreement; (d) cause Party C to promptly convene a shareholder’s meeting to pass the resolutions to approve the equity transfer pursuant to the exercise of the Equity Purchase Option and any requested the amendment to the Articles of Association of Party C; (e) together with Party A and/or its Designee and other shareholders of Party C at that time, handle all necessary approval and examination, registration and filing procedures required by the laws of the PRC P.R.C. within thirty (30) business days as of the date of receipt of the Equity Purchase Exercise Notice by Noticeby Party B or an earlier time agreed upon by the parties; and (f) execute all other requisite contracts, agreements or documents, obtain all requisite approvals and consents of the government, conduct all necessary actions to transfer the valid ownership, ,without any Security Interest, ,of the Object Equities to Party A and/or its Designee, and cause Party A and/or its Designee to be the registered owner of the Object Equities. 2.3 Exercise steps to purchase assets: 2.3.1 During the Exercise Period, Party A may send an exercise notice (“Assets Purchase Exercise Notice”) to Party C to exercise the Assets Purchase Option under this Agreement, to purchase all or part of the Object Assets owned by Party C or transfer all or part of the Object Assets to a Designee, provided that the laws of the PRC P.R.C. permits at that time. 2.3.2 Once Party C receives the Assets Purchase Exercise Notice pursuant to Subsection 2.3.1 above or aboveor earlier if requested by Party A, Party C shall immediately: (a) enter into an Assets Transfer Agreement in the format attached as Annex 2 hereto and any other necessary agreements with Party A and/or its Designee according to the requirements set forth in the format reasonably requested by Party A or its Designees with such modifications as are required by the laws of the PRCAssets Purchase Exercise Notice; (b) convene a shareholder’s 's meeting to pass the resolution to approve the exercise of the Assets Purchase Option; and (c) together with Party B and all other the shareholders of Party C at that time execute all other requisite contracts, agreements or documents, obtain all requisite approvals and consents of the government, conduct all necessary actions to transfer the valid ownership, without any security interest, of the Object Assets to Party A and/or it Designee, and cause Party A and/or its Designee to be the registered owner of the Object Assets (if necessary);. 2.4 Before Party A obtains the Object Equities or the Object Assets by means of exercising either the Equity Purchase Option or the Assets Purchase Option, Party B and/or Party C shall entrust Party A to manage Party C pursuant to the Management Entrustment Agreement entered into by and between Party A and Party C on the same day as this Agreement.

Exercise Steps. 2.1 Pursuant to the applicable laws of the PRCP.R.C., Party A shall have the right to determine the time, manner and number of exercises purchases for the Purchase Option. 2.2 Exercise steps to purchase equities: 2.2.1 During the Exercise Period, Party A may send an exercise notice (“Equity Purchase Exercise Notice”) to Party B to exercise the Equity Purchase Option under this Agreement to purchase all or part of the Object Equities or transfer all or part of the Object Equities to a Designee, provided that the laws of the PRC P.R.C. permits at that time. 2.2.2 Upon receipt of the Equity Purchase Notice pursuant to Subsection 2.2.1 above above,or earlier if requested by Party A, Party party B shall immediately: (a) obtain the waiver concerning the first refusalof other shareholders of Party C at that time on the purchase of such equities; (b) enter into an Equity Transfer Agreement in the format reasonably requested by attached as Annex 1 hereto with Party A or and/or its Designees with such modifications as are required by Designee according the laws requirements of the PRCEquity Purchase Exercise Notice; (c) revise the Articles of Association of Party C together with Party A and/or its Designee to ensure that Party A or its Designee may own the Equities and other shareholders of Party CC at that time pursuant to the Equity Transfer Agreement; (d) cause Party C to promptly convene a shareholder’s meeting to pass the resolutions to approve the equity transfer pursuant to the exercise of the Equity Purchase Option and any requested the amendment to the Articles of Association of Party C; (e) together with Party A and/or its Designee and other shareholders of Party C at that time, handle all necessary approval and examination, registration and filing procedures required by the laws of the PRC P.R.C. within thirty (30) business days as of the date of receipt of the Equity Purchase Exercise Notice by Noticeby Party B or an earlier time agreed upon by the parties; and (f) execute all other requisite contracts, agreements or documents, obtain all requisite approvals and consents of the government, conduct all necessary actions to transfer the valid ownership, ,without any Security Interest, ,of the Object Equities to Party A and/or its Designee, and cause Party A and/or its Designee to be the registered owner of the Object Equities. 2.3 Exercise steps to purchase assets: 2.3.1 During the Exercise Period, Party A may send an exercise notice (“Assets Purchase Exercise Notice”) to Party C to exercise the Assets Purchase Option under this Agreement, to purchase all or part of the Object Assets owned by Party C or transfer all or part of the Object Assets to a Designee, provided that the laws of the PRC P.R.C. permits at that time. 2.3.2 Once Party C receives the Assets Purchase Exercise Notice pursuant to Subsection 2.3.1 above or aboveor earlier if requested by Party A, Party C shall immediately: (a) enter into an Assets Transfer Agreement in the format attached as Annex 2 hereto and any other necessary agreements with Party A and/or its Designee according to the requirements set forth in the format reasonably requested by Party A or its Designees with such modifications as are required by the laws of the PRCAssets Purchase Exercise Notice; (b) convene a shareholder’s 's meeting to pass the resolution to approve the exercise of the Assets Purchase Option; and (c) together with Party B and all other the shareholders of Party C at that time execute all other requisite contracts, agreements or documents, obtain all requisite approvals and consents of the government, conduct all necessary actions to transfer the valid ownership, without any security interest, of the Object Assets to Party A and/or it Designee, and cause Party A and/or its Designee to be the registered owner of the Object Assets (if necessary). 2.4 Before Party A obtains the Object Equities or the Object Assets by means of exercising either the Equity Purchase Option or the Assets Purchase Option, Party B and/or Party C shall entrust Party A to manage Party C pursuant to the Management Entrustment Agreement entered into by and between Party A and Party C on the same day as this Agreement.

Exercise Steps. 2.1 Pursuant to the applicable laws of the PRCP.R.C., Party A shall have the right to determine the time, manner and number of exercises purchases for the Purchase Option. 2.2 Exercise steps to purchase equities: 2.2.1 During the Exercise Period, Party A may send an exercise notice (“Equity Purchase Exercise Notice”) to Party B to exercise the Equity Purchase Option under this Agreement to purchase all or part of the Object Equities or transfer all or part of the Object Equities to a Designee, provided that the laws of the PRC P.R.C. permits at that time. 2.2.2 Upon receipt of the Equity Purchase Notice pursuant to Subsection 2.2.1 above above,or earlier if requested by Party A, Party party B shall immediately: (a) obtain the waiver concerning the first refusalof other shareholders of Party C at that time on the purchase of such equities; (b) enter into an Equity Transfer Agreement in the format reasonably requested by attached as Annex 1 hereto with Party A or and/or its Designees with such modifications as are required by Designee according the laws requirements of the PRCEquity Purchase Exercise Notice; (c) revise the Articles of Association of Party C together with Party A and/or its Designee to ensure that Party A or its Designee may own the Equities and other shareholders of Party CC at that time pursuant to the Equity Transfer Agreement; (d) cause Party C to promptly convene a shareholder’s meeting to pass the resolutions to approve the equity transfer pursuant to the exercise of the Equity Purchase Option and any requested the amendment to the Articles of Association of Party C; (e) together with Party A and/or its Designee and other shareholders of Party C at that time, handle all necessary approval and examination, registration and filing procedures required by the laws of the PRC P.R.C. within thirty (30) business days as of the date of receipt of the Equity Purchase Exercise Notice by Noticeby Party B or an earlier time agreed upon by the parties; and (f) execute all other requisite contracts, agreements or documents, obtain all requisite approvals and consents of the government, conduct all necessary actions to transfer the valid ownership, ,without any Security Interest, ,of the Object Equities to Party A and/or its Designee, and cause Party A and/or its Designee to be the registered owner of the Object Equities. 2.3 Exercise steps to purchase assets: 2.3.1 During the Exercise Period, Party A may send an exercise notice (“Assets Purchase Exercise Notice”) to Party C to exercise the Assets Purchase Option under this Agreement, to purchase all or part of the Object Assets owned by Party C or transfer all or part of the Object Assets to a Designee, provided that the laws of the PRC P.R.C. permits at that time. 2.3.2 Once Party C receives the Assets Purchase Exercise Notice pursuant to Subsection 2.3.1 above or aboveor earlier if requested by Party A, Party C shall immediately: (a) enter into an Assets Transfer Agreement in the format attached as Annex 2 hereto and any other necessary agreements with Party A and/or its Designee according to the requirements set forth in the format reasonably requested by Party A or its Designees with such modifications as are required by the laws of the PRCAssets Purchase Exercise Notice; (b) convene a shareholder’s 's meeting to pass the resolution to approve the exercise of the Assets Purchase Option; and (c) together with Party B and all other the shareholders of Party C at that time execute all other requisite contracts, agreements or documents, obtain all requisite approvals and consents of the government, conduct all necessary actions to transfer the valid ownership, without any security interest, of the Object Assets to Party A and/or it Designee, and cause Party A and/or its Designee to be the registered owner of the Object Assets (if Assets（if necessary)）. 2.4 Before Party A obtains the Object Equities or the Object Assets by means of exercising either the Equity Purchase Option or the Assets Purchase Option, Party B and/or Party C shall entrust Party A to manage Party C pursuant to the Management Entrustment Agreement entered into by and between Party A and Party C on the same day as this Agreement.

Exercise Steps. 2.1 Pursuant to the applicable laws of the PRCP.R.C., Party A shall have the right to determine the time, manner and number of exercises purchases for the Purchase Option. 2.2 Exercise steps to purchase equities: 2.2.1 During the Exercise Period, Party A may send an exercise notice (“Equity Purchase Exercise Notice”) to Party B to exercise the Equity Purchase Option under this Agreement to purchase all or part of the Object Equities or transfer all or part of the Object Equities to a Designee, provided that the laws of the PRC P.R.C. permits at that time. 2.2.2 Upon receipt of the Equity Purchase Notice pursuant to Subsection 2.2.1 above above, or earlier if requested by Party AA , Party party B shall immediately: (a) obtain the waiver concerning the first refusal of other shareholders of Party C at that time on the purchase of such equities; (b) enter into an Equity Transfer Agreement in the format reasonably requested by attached as Annex 1 hereto with Party A or and/or its Designees with such modifications as are required by Designee according the laws requirements of the PRCEquity Purchase Exercise Notice; (c) revise the Articles of Association of Party C together with Party A and/or its Designee to ensure that Party A or its Designee may own the Equities and other shareholders of Party CC at that time pursuant to the Equity Transfer Agreement; (d) cause Party C to promptly convene a shareholder’s meeting to pass the resolutions to approve the equity transfer pursuant to the exercise of the Equity Purchase Option and any requested the amendment to the Articles of Association of Party C; (e) together with Party A and/or its Designee and other shareholders of Party C at that time, handle all necessary approval and examination, registration and filing procedures required by the laws of the PRC P.R.C. within thirty (30) business days as of the date of receipt of the Equity Purchase Exercise Notice by Party B or an earlier time agreed upon by the parties; and (f) execute all other requisite contracts, agreements or documents, obtain all requisite approvals and consents of the government, conduct all necessary actions to transfer the valid ownership, without any Security Interest, of the Object Equities to Party A and/or its Designee, and cause Party A and/or its Designee to be the registered owner of the Object Equities. 2.3 Exercise steps to purchase assets: 2.3.1 During the Exercise Period, Party A may send an exercise notice (“Assets Purchase Exercise Notice”) to Party C to exercise the Assets Purchase Option under this Agreement, to purchase all or part of the Object Assets owned by Party C or transfer all or part of the Object Assets to a Designee, provided that the laws of the PRC P.R.C. permits at that time. 2.3.2 Once Party C receives the Assets Purchase Exercise Notice pursuant to Subsection 2.3.1 above or earlier if requested by Party A, Party C shall immediately: (a) enter into an Assets Transfer Agreement in the format attached as Annex 2 hereto and any other necessary agreements with Party A and/or its Designee according to the requirements set forth in the format reasonably requested by Party A or its Designees with such modifications as are required by the laws of the PRCAssets Purchase Exercise Notice; (b) convene a shareholder’s 's meeting to pass the resolution to approve the exercise of the Assets Purchase Option; and (c) together with Party B and all other the shareholders of Party C at that time execute all other requisite contracts, agreements or documents, obtain all requisite approvals and consents of the government, conduct all necessary actions to transfer the valid ownership, without any security interest, of the Object Assets to Party A and/or it Designee, and cause Party A and/or its Designee to be the registered owner of the Object Assets (（if necessary)）. 2.4 Before Party A obtains the Object Equities or the Object Assets by means of exercising either the Equity Purchase Option or the Assets Purchase Option, Party B and/or Party C shall entrust Party A to manage Party C pursuant to the Management Entrustment Agreement entered into by and between Party A and Party C on the same day as this Agreement.

Exercise Steps. 2.1 Pursuant to the applicable laws of the PRCP.R.C., Party A shall have the right to determine the time, manner and number of exercises purchases for the Purchase Option. 2.2 Exercise steps to purchase equities: 2.2.1 During the Exercise Period, Party A may send an exercise notice (“Equity Purchase Exercise Notice”) to Party B to exercise the Equity Purchase Option under this Agreement to purchase all or part of the Object Equities or transfer all or part of the Object Equities to a Designee, provided that the laws of the PRC P.R.C. permits at that time. 2.2.2 Upon receipt of the Equity Purchase Notice pursuant to Subsection 2.2.1 above above, or earlier if requested by Party AA , Party party B shall immediately: (a) obtain the waiver concerning the first refusal of other shareholders of Party C at that time on the purchase of such equities; (b) enter into an Equity Transfer Agreement in the format reasonably requested by attached as Annex 1 hereto with Party A or and/or its Designees with such modifications as are required by Designee according the laws requirements of the PRCEquity Purchase Exercise Notice; (c) revise the Articles of Association of Party C together with Party A and/or its Designee to ensure that Party A or its Designee may own the Equities and other shareholders of Party CC at that time pursuant to the Equity Transfer Agreement; (d) cause Party C to promptly convene a shareholder’s meeting to pass the resolutions to approve the equity transfer pursuant to the exercise of the Equity Purchase Option and any requested the amendment to the Articles of Association of Party C; (e) together with Party A and/or its Designee and other shareholders of Party C at that time, handle all necessary approval and examination, registration and filing procedures required by the laws of the PRC P.R.C. within thirty (30) business days as of the date of receipt of the Equity Purchase Exercise Notice by Party B or an earlier time agreed upon by the parties; and (f) execute all other requisite contracts, agreements or documents, obtain all requisite approvals and consents of the government, conduct all necessary actions to transfer the valid ownership, without any Security Interest, of the Object Equities to Party A and/or its Designee, and cause Party A and/or its Designee to be the registered owner of the Object Equities. 2.3 Exercise steps to purchase assets: 2.3.1 During the Exercise Period, Party A may send an exercise notice (“Assets Purchase Exercise Notice”) to Party C to exercise the Assets Purchase Option under this Agreement, to purchase all or part of the Object Assets owned by Party C or transfer all or part of the Object Assets to a Designee, provided that the laws of the PRC P.R.C. permits at that time. 2.3.2 Once Party C receives the Assets Purchase Exercise Notice pursuant to Subsection 2.3.1 above or earlier if requested by Party A, Party C shall immediately: (a) enter into an Assets Transfer Agreement in the format attached as Annex 2 hereto and any other necessary agreements with Party A and/or its Designee according to the requirements set forth in the format reasonably requested by Party A or its Designees with such modifications as are required by the laws of the PRCAssets Purchase Exercise Notice; (b) convene a shareholder’s 's meeting to pass the resolution to approve the exercise of the Assets Purchase Option; and (c) together with Party B and all other the shareholders of Party C at that time execute all other requisite contracts, agreements or documents, obtain all requisite approvals and consents of the government, conduct all necessary actions to transfer the valid ownership, without any security interest, of the Object Assets to Party A and/or it Designee, and cause Party A and/or its Designee to be the registered owner of the Object Assets (if necessary). 2.4 Before Party A obtains the Object Equities or the Object Assets by means of exercising either the Equity Purchase Option or the Assets Purchase Option, Party B and/or Party C shall entrust Party A to manage Party C pursuant to the Management Entrustment Agreement entered into by and between Party A and Party C on the same day as this Agreement.