Common use of Steps for Exercise of the Option Clause in Contracts

Steps for Exercise of the Option. The exercise of the Option by the WFOE shall be subject to the provisions of the PRC laws and regulations. When exercising the Option, the WFOE shall issue a written notice (the “Purchase Notice”) to the Existing Shareholders, specifying: (a) the decision of the WFOE or its Designee(s) on the exercise of the Option; (b) the portion of equity interests to be purchased from the Existing Shareholders by the WFOE (the “Purchased Equities”); and (c) the purchase / transfer date of the Purchased Equities.

Steps for Exercise of the Option. The exercise of the Option by the WFOE shall be subject to the provisions of the PRC laws and regulations. When exercising the Option, the WFOE shall issue a written notice (the “Purchase Notice”) to the Existing ShareholdersShareholder, specifying: (a) the decision of the WFOE or its Designee(s) on the exercise of the Option; (b) the portion of equity interests to be purchased from the Existing Shareholders Shareholder by the WFOE (the “Purchased Equities”); and (c) the purchase / transfer date of the Purchased Equities.