Common use of Stock Transfer, Asset Transfer and Settlement Clause in Contracts

Stock Transfer, Asset Transfer and Settlement. 2.5.1 Every exercise of Options by Party A shall take place within ten (10) workdays after receiving the exercise notice specified in Article 2.4; (a) The Authorizing Parties shall cause Party C to timely hold shareholder meeting, on which the resolution of transferring stocks and/or assets to Party A and/or its designated third party shall be approved; (b) The Authorizing Parties shall sign all necessary contracts, agreements or documents to obtain all necessary government approvals and permissions, and take all necessary actions to transfer the ownership of stocks and/or assets and all other incidental rights that Party A intends to purchase free from any security interests (except the pledges under the Equity Interest Pledge Agreement), and ensure Party A and/or its designated third party become the registered owner of the purchased stocks and/or assets in business registry. The Authorizing Parties shall also deliver Party A and/or its designated third party the latest business license, articles of association, certificate of approval, ownership certificate (if applicable) and other related documents issued by and filed at related competent authorities of China, which shall reflect the changes in Party C’s stock ownership, directors and legal representatives and/or assets (if applicable).