Exercise of Option and Completion. 2.1 Time of Exercise 2.1.1 The Grantor agrees that, to the extent permitted by the laws and regulations of the People’s Republic of China, Party A may exercise all or part of the option hereunder at any time after the signature and effectiveness of this Agreement. 2.1.2 Without limiting Party A’s rights under Article 2.1.1, Party A may exercise all of its option under this Agreement at any time when the laws of the PRC permit Party A to operate the relevant business operated by Party C or to invest in Party C without adopting controlling agreements. 2.1.3 The Grantor agrees that there shall not be any limitation on the number of times for the exercise of the option by Party A, unless it has acquired and holds all of the equity interest in Party C; in the event that Party A has acquired and held all of Party C’s equity interests, this Agreement shall automatically terminate. 2.1.4 The Grantor agrees that Party A may designate a third party as its representative to exercise the option provided that Party A shall notify the Grantor in writing at the time of the exercise of the option.
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