Common use of Amendment of Memorandum and Articles of Association Clause in Contracts

Amendment of Memorandum and Articles of Association. Following the date hereof, CRIC shall take all necessary action to, with effect as of the Closing, duly execute an amendment to its Memorandum and Articles of Association (or similar organizational documents) to provide, among other things, that (i) any contract or agreement (and any modification or amendment thereto) between or among any CRIC Company, on the one hand, and any Affiliate thereof, on the other hand, with a value exceeding the greater of (A) $10,000,000 and (B) more than 5% of the total revenues of CRIC in the most recent fiscal year for which CRIC’s audited consolidated financial statements are available, be subject to the approval of a majority of the disinterested members of the Board of Directors of CRIC (such process, the “Related Party Transaction Approval Process”) and (ii) any modification or amendment to the Related Party Transaction Approval Process be a matter requiring the approval of not less than three-fourths of the members of the Board of Directors of CRIC.

Appears in 4 contracts

Samples: Share Purchase Agreement (Sina Corp), Share Purchase Agreement (E-House (China) Holdings LTD), Share Purchase Agreement (Sina Corp)

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