Common use of Transferred Equity Clause in Contracts

Transferred Equity. 1.1 The Transferor agrees that after the execution of this Agreement and within 45 days after the Transferee paid the first installment payment to the Mutual Management Bank Account it will reach the target of holding 100% equity of the Target Company by purchasing the equity. The Transferor agrees to sell 70% equity interest of the Target Company held by it to the Transferee. 1.2 The Transferee agrees to purchase the 70% equity interest of the Target Company from the Transferor after its holding 100% equity interest of the Target Company. 1.3 After the completion of registration in AIC for this equity transfer of the Transferee will enjoy the shareholder's rights, and undertake obligations and responsibilities of shareholder in accordance with applicable China laws and the provisions of the Articles of Association of the Target Company.

Transferred Equity. 1.1 The Transferor agrees that after the execution of this Agreement and within 45 days after the Transferee paid the first installment payment to the Mutual Management Bank Account it will reach the target of holding 100% equity of the Target Company by purchasing the equity. The Transferor agrees to sell 70% equity interest of the Target Company held by it to the Transferee. 1.2 The Transferee agrees to purchase the 70% equity interest of the Target Company from the Transferor after its holding 100% equity interest of the Target Company. 1.3 After the completion of registration in AIC for this equity transfer of the Transferee will enjoy the shareholder's rights, and undertake obligations and responsibilities of shareholder in accordance with applicable China laws and the provisions of the Articles of Association of the Target Company.