Common use of Steps for Exercise of the Equity Interest Purchase Option Clause in Contracts

Steps for Exercise of the Equity Interest Purchase Option. Subject to the provisions of the laws and regulations of China, Party A may exercise the Equity Interest Purchase Option by issuing a written notice to Party B (the “Equity Interest Purchase Option Notice”), specifying:(a) Party A’s or the Designee(s)’ decision to exercise the Equity Interest Purchase Option; (b) the respective portion of equity interests to be purchased by Party A or the Designee from Party B (the “Optioned Interests”); and (c) the date for purchasing the Optioned Interests or the date for the transfer of the Optioned Interests. If Party A and/or other foreign-invested or foreign entities designated by Party A are permitted to directly hold part or all of Party C’s equity interests and engage in foreign investment restriction/prohibition business through Party C under the laws and regulations of PRC, Party A shall issue the Equity Interest Purchase Option Notice as soon as practicable. The proportion of Party C’s equity interests that the Designee(s) purchase(s) from Party B shall not be less than the maximum limit of Party C’s equity interests permitted under PRC laws to be held by Party A and/or other foreign-invested or foreign entities designated by Party A.