Common use of Grant Right Clause in Contracts

Grant Right. Party B hereby irrevocably grants to Party A or other third party as Party A in its sole discretion deems appropriate (i.e., Party A designated third party) shall have an irrevocable and exclusive right to: a. Party A or its designated third party may purchase all or part of the equity interests held by Party B then in the Company at any time, as long as allowed by the laws and regulations of the PRC. b. Party A shall have the right but shall not be obligated to purchase or designate a third party to purchase all or part of the equity interests held by Party B. c. Before Party A waives the aforesaid exclusive right in writing, Party B shall have no right to transfer its equity interest in the Company to other parties, i.e. Party B shall ensure that no other person shall have the right to purchase the equity interests of the Company except for Party A or its designated third party.