Common use of Consideration for Transfer Clause in Contracts

Consideration for Transfer. 5.1 The consideration for the transfer of any part or all of the Equity Interest by the Shareholder(s) to Newegg and/or its designee(s) shall be payment by Newegg to the Shareholder(s) of the value of the portion of the Equity Interest in question, the purchase price of which shall be the minimum consideration permitted by applicable PRC laws and regulations. 5.2 The method of payment shall be determined by consultation among the Parties and in accordance with applicable PRC law. To the extent permitted by PRC law, one such method shall be the cancellation by Newegg of a corresponding portion of the Indebtedness. 5.3 To the extent permitted by applicable PRC law, the Shareholder(s) shall use any and all proceeds obtained in connection with the transfer of any part or all of the Equity Interest by the Shareholder(s) according to Section 5.1 and Section 5.2 above for the repayment of the Indebtedness.