Common use of Entrustment Period Clause in Contracts

Entrustment Period. 2.1 This Agreement shall come into effect from 1 August 2013 until the day on which Wanchi Technology terminated this Agreement in the written form or all equities in the Target Company held by ZhongJinfu and YunShuiyue have been legally and effectively transferred to Wanchi Technology and/or the Designated Persons (namely, all equities in the Target Company have been registered under the names of Wanchi Technology and/or the Designated Persons as shown in the industrial, and commercial registry) or all assets of the Target Company have been legally and effectively transferred to Wanchi Technology and/or the Designated Persons. 2.2 Neither ZhongJinfu nor YunShuiyue shall transfer the equities held by them (either partially or in full) to any institutes or individuals other than Wanchi Technology, unless such institutes or individuals are designated by Wanchi Technology. Where either of ZhongJinfu and YunShuiyue transfers all equities held by them in the Target Company with the approval of Wanchi Technology and completed the delivery procedures of the equities transfer, such party shall no longer be a party hereto provided that the obligations and commitments of other shareholders of the Target Company hereunder shall not be affected. When ZhongJinfu and YunShuiyue transfer the equities in the Target Company (either partially or in full), they shall make the transferees commit to assume all rights and obligations to be assumed by the transferors hereunder and procure the transferees to replace the transferors or the prerequisite conditions for the transfer by a signing party of this Agreement.