Common use of Grant and Exercise of Call Option Clause in Contracts

Grant and Exercise of Call Option. 2.1 The Parties agree that Party A has the exclusive option to purchase at any time all or part of the equities of Party C and/or Party D in Party B according to the provisions of this Agreement. This option may be exercised by Party A or the qualified entity designated by Party A. This option is granted to Party A once this Agreement is signed by the Parties and such granting shall not be revoked within the valid term of this Agreement once it is made. 2.2 The call option shall be exercised only when the following conditions are satisfied: the holding by Party A (or by the qualified entity designated by Party A) of Party B’s equity does not violate applicable Chinese laws and regulations. 2.3 In order to exercise call option, Party A shall give a written notice (“Exercise Notice”) to Party C or Party D, which indicates its intention of exercising call option according to the provisions of this Agreement as well as the quantity of the equity to be purchased. 2.4 Within thirty days after receiving the Exercise Notice, Party C and/or Party D, as the case may be, shall sign with Party A or the qualified entity designated by Party A the equity transfer contract consistent with the Exercise Notice, along with the other documents relating to transfer (collectively “Transfer Documents”). 2.5 To the extent permitted by law, when Party A decides to exercise call option, Party B, Party C and Party D shall unconditionally assist Party A in handling all examination, approval, license, registration and filing procedures necessary for the transfer.