Common use of Option Granted Clause in Contracts

Option Granted. Party B hereby grants to Party A an exclusive option (the “Equity Interest Purchase Option”) to the extent permitted by PRC laws and at the price described in Section 1.3 herein, Party A may designate one or more persons (each, a “Designee”) to purchase the equity interests in Party C then held by Party B (the “Equity Interest”) at any time in part or in whole at Party A’s sole and absolute discretion to the extent permitted by the PRC laws. Party A shall have the right to determine the transfer and acquisition of all or part of the Equity Interest in Party A’s Designee (s), and Party B shall not withhold and shall transfer all or part of the Equity Interest to the Designee (s) as requested by Party A. Except for Party A and the Persons designated by Party A, no other person shall be entitled to the Equity Interest Purchase Option. Party C hereby agrees to the grant by Party B of the Equity Interest Purchase Option to Party A. The “person” as referred to in this Section and this Agreement shall mean individuals, corporations, joint ventures, partners, enterprises, trusts or other non-corporate organizations. Party C hereby irrevocably grants to Party A an irrevocable and exclusive right (the “Asset Purchase Option”, together with the “Equity Interest Purchase Option”, the “Exclusive Purchase Option”) to purchase from Party C, or cause the Designee (s) of Party A to purchase, all or part of the assets of Party C (the “Assets”) at any time during the validity term of this Agreement according to the steps for exercise as determined by Party A in its sole discretion and at the purchase price equal to Section 1.3 hereof.

Option Granted. 1.1.1 Party B and Party C hereby grants to irrevocably grant Party A an irrevocable and exclusive option (the “Equity Interest Purchase Option”) right to the extent permitted by PRC laws and at the price described in Section 1.3 hereinpurchase, Party A may or designate one or more persons (each, a “Designee”) to purchase purchase, in a lump sum or by installments, the equity interests in Party C then D, including any increased equity interests held as a result of the increase of registered capital of Party D in future, held by Party B and Party C (the “Equity InterestInterests”) ), at any time in part or in whole at Party A’s sole and absolute discretion to the extent permitted by the PRC lawslaws and at the price stipulated in Section 1.3 herein (such right being the “Equity Interest Purchase Option”). No person other than Party A shall have or the right to determine the transfer and acquisition of all or part of the Equity Interest in Party A’s Designee (s), and Party B shall not withhold and shall transfer all or part of the Equity Interest to the Designee (sDesignee(s) as requested by Party A. Except for Party A and the Persons designated by Party A, no other person shall be entitled to the Equity Interest Purchase OptionOption or other rights with respect to the Equity Interests. Party C D hereby agrees to the grant by Party B and Party C of the Equity Interest Purchase Option to Party A. Party B and Party C hereby waive any right of first refusal with respect to the Equity Interests granted by Party D’s articles of association and the PRC laws, and irrevocably agree that any shareholder of Party D transfers the Equity Interests to Party A and/or the Designee(s). The term “person” as referred herein shall refer to in this Section and this Agreement shall mean individuals, corporations, joint ventures, partnerspartnerships, enterprises, trusts or other non-corporate organizations. Party C hereby irrevocably grants to Party A an irrevocable and exclusive right (the “Asset Purchase Option”, together with the “Equity Interest Purchase Option”, the “Exclusive Purchase Option”) to purchase from Party C, or cause the Designee (s) of Party A to purchase, all or part of the assets of Party C (the “Assets”) at any time during the validity term of this Agreement according to the steps for exercise as determined by Party A in its sole discretion and at the purchase price equal to Section 1.3 hereof.