Common use of Exercising Steps Clause in Contracts

Exercising Steps. Subject to the terms and conditions hereof and to the extent permitted by Chinese laws, Party A shall have an absolute discretion to decide the time, manner and frequency of the exercise of its rights. The exercise of Purchasing Right (equity) by Party A shall be subject to the provisions of Chinese laws and regulations. To exercise its Purchasing Right (equity), Party A shall notify Party B in writing (the “Purchase Notice of Equity”), specifying the following matters: (a) Party A’s decision on the exercise of the Purchasing Right (equity); (b) the equity that Party A intends to purchase from Party B (the “Purchased Equity”); and (c) the date of purchase/transfer of the Purchased Equity. The exercise of Purchasing Right (assets) by Party A shall be subject to the provisions of Chinese laws and regulations. To exercise its Purchasing Right (assets), Party A shall notify Party B in writing (the “Purchase Notice of Assets”), specifying the following matters: (a) Party A’s decision on the exercise of the Purchasing Right (assets); (b) the asset that Party A intends to purchase from Party C (the “Purchased Asset”); and (c) the date of purchase/transfer of the Purchased Asset. Upon the exercise of Purchasing Right (equity) or Purchasing Right (assets) by Party A, it may either acquire the Purchased Equity or the Purchased Asset itself, or designate a Designated Person to acquire all of part thereof.

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