Common use of Option Granted Clause in Contracts

Option Granted. 1.1.1 Party B hereby irrevocably and unconditionally grants Party A an irrevocable and exclusive right to purchase, or designate one or more persons (each, a “Designee”) to purchase the equity interests in the OPCO then held by Party B once or at multiple times at any time in part or in whole at Party A’s sole and absolute discretion to the extent permitted by Chinese laws and at the price described in Section 1.3 herein (such right being the “Equity Interest Purchase Option”). Subject to the terms and conditions of this Agreement and to the extent permitted by PRC laws and regulations, Party A shall be entitled to absolute discretion over the time, manner and times to exercise the Option. Except for Party A and the Designee(s), no other person shall be entitled to the Equity Interest Purchase Option or other rights with respect to the equity interests of the OPCO held by Party B. The OPCO hereby agrees to the grant by the Shareholders of the Equity Interest Purchase Option to Party A. The term “person” as used herein shall refer to individuals, corporations, partnerships, partners, enterprises, trusts or non-corporate organizations. 1.1.2 The Shareholders and the OPCO hereby agree and confirm on Party B’s grant of the Equity Interest Purchase Option to Party A in accordance with Clause 1.1.1 of this Agreement and undertake to take all necessary actions to procure Party B to perform all of its obligations under this Agreement, including but not limited to, passing and voting in favour of any shareholders’ or board resolution that is required for Party B to transfer any equity interests of the OPCO to Party A or a Designee or to perform any other obligations under this Agreement. 1.1.3 On the date of the execution of this Agreement, Party B shall deliver to Party A: (a) Two sets of undated duly executed transfer agreement in a form and substance satisfactory to Party A and/or substantially in the form set out in the Appendix hereto; and (b) all other documents as required by and satisfactory to Party A in order to effect a valid transfer of any equity interests purchased under this Agreement.

Option Granted. 1.1.1 Party B hereby irrevocably and unconditionally grants Party A an irrevocable and exclusive right to purchase, or designate one or more persons (each, a “Designee”) to purchase the equity interests in the OPCO then held by Party B once or at multiple times at any time in part or in whole at Party A’s sole and absolute discretion to the extent permitted by Chinese laws and at the price described in Section 1.3 herein (such right being the “Equity Interest Purchase Option”). Subject to the terms and conditions of this Agreement and to the extent permitted by PRC laws and regulations, Party A shall be entitled to absolute discretion over the time, manner and times to exercise the Option. Except for Party A and the Designee(s), no other person shall be entitled to the Equity Interest Purchase Option or other rights with respect to the equity interests of the OPCO held by Party B. The OPCO hereby agrees to the grant by the Direct Shareholders of the Equity Interest Purchase Option to Party A. The term “person” as used herein shall refer to individuals, corporations, partnerships, partners, enterprises, trusts or non-corporate organizations. 1.1.2 The Shareholders and the OPCO hereby agree and confirm on Party B’s grant of the Equity Interest Purchase Option to Party A in accordance with Clause 1.1.1 of this Agreement and undertake to take all necessary actions to procure Party B to perform all of its obligations under this Agreement, including but not limited to, passing and voting in favour of any shareholders’ or board resolution that is required for Party B to transfer any equity interests of the OPCO to Party A or a Designee or to perform any other obligations under this Agreement. 1.1.3 On the date of the execution of this Agreement, Party B shall deliver to Party A: (a) Two sets of undated duly executed transfer agreement in a form and substance satisfactory to Party A and/or substantially in the form set out in the Appendix hereto; and (b) all other documents as required by and satisfactory to Party A in order to effect a valid transfer of any equity interests purchased under this Agreement.

Option Granted. 1.1.1 Party B hereby irrevocably and unconditionally grants Party A an irrevocable and exclusive right to purchase, or designate one or more persons (each, a “Designee”) to purchase the equity interests in the OPCO then held by Party B once or at multiple times at any time in part or in whole at Party A’s sole and absolute discretion to the extent permitted by Chinese laws and at the price described in Section 1.3 herein (such right being the “Equity Interest Purchase Option”). Subject to the terms and conditions of this Agreement and to the extent permitted by PRC laws and regulations, Party A shall be entitled to absolute discretion over the time, manner and times to exercise the Option. Except for Party A and the Designee(s), no other person shall be entitled to the Equity Interest Purchase Option or other rights with respect to the equity interests of the OPCO held by Party B. The OPCO hereby agrees to the grant by the Direct Shareholders of the Equity Interest Purchase Option to Party A. The term “person” as used herein shall refer to individuals, corporations, partnerships, partners, enterprises, trusts or non-corporate organizations. 1.1.2 The Shareholders and the OPCO hereby agree and confirm on Party B’s grant of the Equity Interest Purchase Option to Party A in accordance with Clause 1.1.1 of this Agreement and undertake to take all necessary actions to procure Party B to perform all of its obligations under this Agreement, including but not limited to, passing and voting in favour favor of any shareholders’ or board resolution that is required for Party B to transfer any equity interests of the OPCO to Party A or a Designee or to perform any other obligations under this Agreement. 1.1.3 On the date of the execution of this Agreement, Party B shall deliver to Party A: (ai) Two sets of undated duly executed transfer agreement in a form and substance satisfactory to Party A and/or substantially in the form set out in the Appendix hereto; and (bii) all other documents as required by and satisfactory to Party A in order to effect a valid transfer of any equity interests purchased under this Agreement.