Common use of Exercise Steps Clause in Contracts

Exercise Steps. To the extent that the PRC Laws permit the Equity Interest Buyer to hold the equity interests of Party C, Party A may, during the effective period of this Agreement, send Party B a written notice (hereinafter “Equity Interest Call Option Notice”) which shall set forth the following matters: (a) Party A’s decision on exercise of the Equity Interest Call Option; (b) the portion of equity interests to be purchased by Party A and/or its designee from Party B (hereinafter “Optioned Equity Interests”); and (c) the date for purchasing the Optioned Equity Interests. Within sixty (60) days of receipt of the Equity Interest Call Notice, Party B or Party C shall transfer all of the Optioned Equity Interests to the Equity Interest Buyer pursuant to such notice in the manner referred to in paragraph 4 of Article II of this Agreement. At each exercise of the Equity Interest Call Option, the Equity Interest Buyer may decide at its own will the percentages of the Optioned Equity Interests or that it intends to purchase.

Exercise Steps. To the extent that the PRC Laws permit the Equity Interest Buyer to hold the equity interests of Party C, Party A may, during the effective period of this Agreement, send Party B a written notice (hereinafter “Equity Interest Call Option Notice”) which shall set forth the following mattersindicating: (a) Party A’s decision on exercise of the Equity Interest Call Option; (b) the portion of equity interests to be purchased by Party A and/or its designee from Party B (hereinafter “Optioned Equity Interests”); and (c) the date for purchasing the Optioned Equity Interests. Within sixty (60) days of receipt of the Equity Interest Call Notice, Party B or Party C shall transfer all of the Optioned Equity Interests to the Equity Interest Buyer pursuant to such notice in the manner referred to in paragraph 4 of Article II of this Agreement. At each exercise of the Equity Interest Call Option, the Equity Interest Buyer may decide at its own will the percentages of the Optioned Equity Interests or that it intends to purchase.