Common use of Further Obligations of the Parties Clause in Contracts

Further Obligations of the Parties. 3.01 In the event that Mr. Wu elects to pay 10% of the Relevant Sum as contemplated in Xxxxxe 2.04(a)(ii), he shall: (a) pay to Huachen 90% of the Relevant Sum (the "BALANCE") on or before the day falling 3 years after the Option Completion Date; and (b) forthwith on the Option Completion Date: (i) mortgage, charge and assign the Relevant Shares to Huachen as a continuing security for the due and punctual payment of Balance pursuant to the terms of this Deed; and (ii) deliver to Huachen, as security for the performance of his payment obligation under Clause 3.01(a), the share certificate(s) for the Relevant Shares. 3.02 Huachen shall, upon receipt of the Balance or any part thereof from Mr. Wu in satisfaction of all or part of his obligations under Xxxxxx 3.01(a), as soon as reasonably practicable and at Mr. Wu's cost, release to Mr. Wu certificate(s) for such number xx Xxxxes as is calculatex xx xccordance with the following formula, which he previously delivered to Huachen pursuant to Clause 3.01(b)(ii) above and which were held by Huachen as security for performance by Mr. Wu of his obligation under Clause 3.01(a):

Further Obligations of the Parties. 3.01 In the event that Mr. Wu Hong elects to pay 10% of the Relevant Sum as contemplated in Xxxxxe Clause 2.04(a)(ii), he shall: (a) pay to Huachen 90% of the Relevant Sum (the "BALANCE") on or before the day falling 3 years after the Option Completion Date; and (b) forthwith on the Option Completion Date: (i) mortgage, charge and assign the Relevant Shares to Huachen as a continuing security for the due and punctual payment of Balance pursuant to the terms of this Deed; and (ii) deliver to Huachen, as security for the performance of his payment obligation under Clause 3.01(a), the share certificate(s) for the Relevant Shares. 3.02 Huachen shall, upon receipt of the Balance or any part thereof from Mr. Wu Hong in satisfaction of all or part of his obligations under Xxxxxx Clause 3.01(a), as soon as reasonably practicable and at Mr. WuHong's cost, release to Mr. Wu Hong certificate(s) for such number xx Xxxxes of Shares as is calculatex xx xccordance calculated in accordance with the following formula, which he previously delivered to Huachen pursuant to Clause 3.01(b)(ii) above and which were held by Huachen as security for performance by Mr. Wu Hong of his obligation under Clause 3.01(a):

Further Obligations of the Parties. 3.01 In the event that Mr. Wu He elects to pay 10% of the Relevant Sum as contemplated in Xxxxxe Clause 2.04(a)(ii), he shall: (a) pay to Huachen 90% of the Relevant Sum (the "BALANCE") on or before the day falling 3 years after the Option Completion Date; and (b) forthwith on the Option Completion Date: (i) mortgage, charge and assign the Relevant Shares to Huachen as a continuing security for the due and punctual payment of Balance pursuant to the terms of this Deed; and (ii) deliver to Huachen, as security for the performance of his payment obligation under Clause 3.01(a), the share certificate(s) for the Relevant Shares. 3.02 Huachen shall, upon receipt of the Balance or any part thereof from Mr. Wu He in satisfaction of all or part of his obligations under Xxxxxx Clause 3.01(a), as soon as reasonably practicable and at Mr. WuHe's cost, release to Mr. Wu He certificate(s) for such number xx Xxxxes of Shares as is calculatex xx xccordance calculated in accordance with the following formula, which he previously delivered to Huachen pursuant to Clause 3.01(b)(ii) above and which were held by Huachen as security for performance by Mr. Wu He of his obligation under Clause 3.01(a):

Further Obligations of the Parties. 3.01 In the event that Mr. Wu Su elects to pay 10% of the Relevant Sum as contemplated in Xxxxxe Clause 2.04(a)(ii), he shall: (a) pay to Huachen 90% of the Relevant Sum (the "BALANCE") on or before the day falling 3 years after the Option Completion Date; and (b) forthwith on the Option Completion Date: (i) mortgage, charge and assign the Relevant Shares to Huachen as a continuing security for the due and punctual payment of Balance pursuant to the terms of this Deed; and (ii) deliver to Huachen, as security for the performance of his payment obligation under Clause 3.01(a), the share certificate(s) for the Relevant Shares. 3.02 Huachen shall, upon receipt of the Balance or any part thereof from Mr. Wu Su in satisfaction of all or part of his obligations under Xxxxxx Clause 3.01(a), as soon as reasonably practicable and at Mr. WuSu's cost, release to Mr. Wu Su certificate(s) for such number xx Xxxxes of Shares as is calculatex xx xccordance calculated in accordance with the following formula, which he previously delivered to Huachen pursuant to Clause 3.01(b)(ii) above and which were held by Huachen as security for performance by Mr. Wu Su of his obligation under Clause 3.01(a):