Common use of Steps for Exercise Clause in Contracts

Steps for Exercise. Party A’s exercise of the Assets Purchase Option shall be subject to the compliance with the provisions of the PRC laws and regulations. In exercising the Assets Purchase Option, Party A shall issue a written notice (the “Assets Purchase Notice”) to Party B, specifying (a) Party A’s decision to exercise the Assets Purchase Option; (b) the Assets to be purchased by Party A from Party B (the “Purchased Assets”); and (c) the date of purchase/transfer of the Assets.