Newegg. Newegg hereby warrants that:
Newegg and/or its designee(s) shall have the exclusive and irrevocable right, subject to the terms and conditions of this Agreement and PRC law, to exercise the Option at any time during the term of this Agreement. Newegg shall have the sole discretion to decide whether any part or all of the Equity Interest shall be transferred to Newegg and/or to its designee(s) in accordance PRC law and this Agreement.
Newegg and/or its designee(s) are entitled to exercise the Option in whole or in part and on one or more occasions pursuant to this Agreement.
Newegg has obtained, and shall maintain in full force during the Term of this Agreement, such federal, state and local authorizations as are necessary to operate and to otherwise perform its obligations under the Agreement, and will be in compliance with all applicable laws and regulations governing such performance.
Newegg has the power and authority to enter into this Agreement and to fully perform its obligations hereunder;
