Common use of Purchase and Sale of Equity Clause in Contracts

Purchase and Sale of Equity. 1.1 Grant of rights Party B hereby irrevocably grants to Party A an irrevocable exclusive right (the Equity Purchase Right) to purchase from Party B or designate a person or any persons (the Designated Person(s)) to purchase from Party B all or any part of the equity held by Party B (whether there will be any change to Party B’s capital contribution or shareholding percentage in the future) for one or more times at any time, at the price as agreed in Clause 1.3 hereof, by taking the exercise steps as determined at the discretion of Party A, to the extent permitted by the laws of China. Except Party A and the Designated Person(s), no third person may be entitled to the Equity Purchase Right or any rights in relation to Party B’s equity. Party C hereby agrees that Party A will grant the Equity Purchase Right to Party B. Persons as provided for in this Clause and the Contract shall refer to individuals, companies, joint ventures, partnerships, enterprises, trusts or non-company organizations.