Common use of Restricted Cash Clause in Contracts

Restricted Cash. Unless otherwise approved by the Series C Supermajority, the Company shall maintain in its bank account in the Cayman Islands cash in the amount of at least US$20,000,000 (or such lesser amount as may be approved by the Investor Directors) until the earlier of (a) the completion of both (i) the applicable registrations under Circular 37 in accordance with Section 9.10 above such that each direct or indirect shareholder of the Company who is a PRC resident has fully complied with Circular 37 in connection with the transactions contemplated by the Series C Purchase Agreement and any previous shareholding changes of the Company (if applicable), and (ii) the restructuring of Zhongxin Suzhou’s equity interest in InnoLight SZ such that InnoLight SZ becomes a wholly owned subsidiary of InnoLight HK; or (b) June 30, 2015.

Restricted Cash. Unless otherwise approved by the Series C Supermajority, the Company shall maintain in its bank account in the Cayman Islands cash in the amount of at least US$20,000,000 (or such lesser amount as may be approved by the Investor Directors) until the earlier of (a) the completion of both (i) the applicable registrations under Circular 37 75 in accordance with Section 9.10 above such that each direct or indirect shareholder of the Company who is a PRC resident has fully complied with Circular 37 75 in connection with the transactions contemplated by the Series C Purchase Agreement and any previous shareholding changes of the Company (if applicable), and (ii) the restructuring of Zhongxin Suzhou’s equity interest in InnoLight SZ such that InnoLight SZ becomes a wholly owned subsidiary of InnoLight HK; or (b) June 30, 2015.

Restricted Cash. Unless otherwise approved by the Series C Supermajority, the Company shall maintain in its bank account in the Cayman Islands cash in the amount of at least US$20,000,000 (or such lesser amount as may be approved by the Investor Directors) until the earlier of (a) the completion of both (i) the applicable registrations under Circular 37 in accordance with Section 9.10 above such that each direct or indirect shareholder of the Company who is a PRC resident has fully complied with Circular 37 in connection with the transactions contemplated by the Series C Purchase Agreement and any previous shareholding changes of the Company (if applicable), and (ii) the restructuring of Zhongxin Suzhou’s equity interest in InnoLight SZ such that InnoLight SZ becomes a wholly owned subsidiary of InnoLight HK; or (b) June 30, 2015. (16) Section 1.2(c) of Exhibit C to the Agreement shall be amended as follows: