Common use of Grant of Purchase Right Clause in Contracts

Grant of Purchase Right. Party B hereby irrevocably grants Party A the exclusive right to purchase or designate one or more persons (the “Specified Person”) to purchase all or any portion of the Equity Interest from Party B, subject to compliance with legal restrictions under applicable PRC laws (the “Purchase Right”). Party B shall not sell or transfer all or any portion of the Equity Interest to any party other than Party A and/or the Specified Person. Party C hereby acknowledges that Party B may grant the Purchase Right to Party A, and the other shareholders of Party C have already agreed to waive any rights to acquire the Equity Interest of Party C from Party B and such shareholders have executed the Announcement Letter to waive their pre-emptive rights (attached as Appendices). As used in this Agreement, the term “person” refers to an individual, corporation, joint enterprise, partnership, enterprise, trust or non-corporation organization.

Grant of Purchase Right. 1.1 Party B hereby irrevocably grants Party A the exclusive right to purchase or designate one or more persons (the “Specified Person”) to purchase all or any portion of the Equity Interest from Party B, subject to compliance with legal restrictions under applicable PRC laws (the “Purchase Right”). Party B shall not sell or transfer all or any portion of the Equity Interest to any party other than Party A and/or the Specified Person. Party C hereby acknowledges that Party B may grant the Purchase Right to Party A, and the other shareholders of Party C have already agreed to waive any rights to acquire the Equity Interest of Party C from Party B and such shareholders have executed the Announcement Letter to waive their pre-emptive rights (attached as Appendices). As used in this Agreement, the term “person” refers to an individual, corporation, joint enterprise, partnership, enterprise, trust or non-corporation organization.