Common use of Interest Transfer Clause in Contracts

Interest Transfer. 6.2.1 Immediately upon receipt of a Conversion Notice (“Conversion Date”), Wanquin and Min shall effect or cause Weilian to effect the transfer of the portion of the Interest designated in the Conversion Notice, either to INTAC directly or to the designee specified by INTAC in the Conversion Notice (each an “Interest Transfer”). 6.2.2 For the avoidance of doubt, upon the completion of the conversion of the Loan and the transfer of all of the Interest of Wanquin, Min and/or Weilian, as applicable, (whether pursuant to this Article 6 or an Event of Default), INTAC shall hold as much of the Interest as is permissible under any published and available laws and regulations of the People’s Republic of China (“PRC”), and the remainder of the Interest (if applicable) shall be held by the designees of INTAC, with Wanquin, Min and/or Weilian no longer holding any part of the Interest. At such time, this Agreement shall be deemed to have terminated, and the obligations of Wanquin and Min hereunder to have been fulfilled (with the exception of those under 2.1.10 and 2.1.11).

Interest Transfer. 6.2.1 Immediately upon receipt of a Conversion Notice (“Conversion Date”), Wanquin Zou and Min Wu shall effect or cause Weilian Chengtai to effect the transfer of the portion of the Interest designated in the Conversion Notice, either to INTAC directly or to the designee specified by INTAC in the Conversion Notice (each an “Interest Transfer”). 6.2.2 For the avoidance of doubt, upon the completion of the conversion of the Loan and the transfer of all of the Interest of WanquinZou, Min Wu and/or WeilianChengtai, as applicable, (whether pursuant to this Article 6 or an Event of Default), INTAC shall hold as much of the Interest as is permissible under any published and available laws and regulations of the People’s Republic of China (“PRC”), and the remainder of the Interest (if applicable) shall be held by the designees of INTAC, with WanquinZou, Min Wu and/or Weilian Chengtai no longer holding any part of the Interest. At such time, this Agreement shall be deemed to have terminated, and the obligations of Wanquin Zou and Min Wu hereunder to have been fulfilled (with the exception of those under 2.1.10 and 2.1.11).