Common use of Effectiveness and Termination Clause in Contracts

Effectiveness and Termination. 7.1 This Agreement is concluded upon its execution and takes effect on the date hereof. 7.2 The Parties agree and confirm that this Agreement shall be terminated when the Parties has completed to perform their obligation under this Agreement; the Parties further agree and confirm that Party B shall be deemed the completion of performing their obligations under this agreement only if the following requirements are met: (1) Party B has transferred all equity interests of Domestic Company to Party A and/or its designated person; and, (2) Party B has repaid the total amount caused from the equity interest transferring according to this Agreement or the proceeds stipulated by Purchase Agreement to Party A. 7.3 Party B cannot terminate or revoke unilaterally this Agreement unless (1) Party A commits the gross negligence, fraud or other material illegal action; or

Effectiveness and Termination. 7.1 This Agreement is concluded upon its execution and takes effect on the date hereof. 7.2 The Parties agree and confirm that the this Agreement shall be terminated when the Parties has completed to perform their obligation under this Agreement; the Parties further agree and confirm that Party B shall be deemed the completion of performing their obligations under this agreement only if the following requirements are met: (1) Party B has transferred all equity interests of Domestic Company Gamease to Party A and/or its designated person; and, (2) Party B has repaid the total amount caused from the equity interest transferring according to this Agreement or the proceeds stipulated by Purchase Agreement to Party A. 7.3 Party B cannot terminate or revoke unilaterally this Agreement unless (1) Party A commits the gross negligence, fraud or other material illegal action; or

Effectiveness and Termination. 7.1 This Agreement is concluded upon its execution and takes effect on the date hereof. 7.2 The Parties agree and confirm that the this Agreement shall be terminated when the Parties has completed to perform their obligation under this Agreement; the Parties further agree and confirm that Party B shall be deemed the completion of performing their obligations under this agreement only if the following requirements are met: (1) Party B has transferred all equity interests of Domestic Company Gamespace to Party A and/or its designated person; and, (2) Party B has repaid the total amount caused from the equity interest transferring according to this Agreement or the proceeds stipulated by Purchase Agreement to Party A. 7.3 Party B cannot terminate or revoke unilaterally this Agreement unless (1) Party A commits the gross negligence, fraud or other material illegal action; or