ESOP Adjustment. For the purpose of the transaction contemplated hereunder, and as soon as possible after the date hereof, the Parties shall take all necessary measures that are within their control to permit the increase of the reserved Ordinary Shares for the ESOP from 29,128,936 ordinary shares of a nominal or par value of US$0.0001 each in the Company (representing 582,578,720 Class A Ordinary Shares) to 1,199,576,760 Class A Ordinary Shares, representing 23.83% of all the issued and outstanding shares of the Company immediately upon the completion of such adjustment (on a fully-diluted basis and taking into account such adjustment) immediately prior to the Closing (the “ESOP Adjustment”). Completion of the ESOP Adjustment shall take effect as soon as possible after the date hereof and before the Closing.
Appears in 4 contracts
Samples: Series D Preferred Shares Purchase Agreement, Series D Preferred Shares Purchase Agreement (Pinduoduo Inc.), Series D Preferred Shares Purchase Agreement (Walnut Street Group Holding LTD)
ESOP Adjustment. For the purpose of the transaction contemplated hereunder, and as soon as possible after the date hereof, the Parties Company shall take all necessary measures that are within their control to permit the increase of the reserved Ordinary Shares for the ESOP from 20,664,408 Ordinary Shares to 29,128,936 ordinary shares of a nominal or par value of US$0.0001 each in the Company (representing 582,578,720 Class A Ordinary Shares) to 1,199,576,760 Class A Ordinary Shares, representing 23.8317.2% of all the issued and outstanding shares of the Company immediately upon the completion of such adjustment (on a fully-diluted basis and taking into account of such adjustment) immediately prior to the Closing (the “ESOP Adjustment”). Completion of the ESOP Adjustment shall take effect as soon as possible after the date hereof and before the Closing.
Appears in 3 contracts
Samples: Series C Preferred Shares Purchase Agreement (Pinduoduo Inc.), Series C Preferred Shares Purchase Agreement (Walnut Street Group Holding LTD), Series C Preferred Shares Purchase Agreement (Walnut Street Group Holding LTD)
