Common use of Granting Clause in Contracts

Granting. The Parties hereto agree that, on the date of execution of the Agreement, Party A has the exclusive option to purchase, at the lowest price permitted by the laws of the People’s Republic of China when the option is exercised, by Party A or a third party designated by Party A at any time, all or part of the equity held by Party B in the Company now and in the future, subject to the conditions agreed in the Agreement. Party A will be granted with the option after the Agreement has been executed by the Parties, and the option, once granted, will be irrevocable within the term of the Agreement.