Common use of Target Assets Clause in Contracts

Target Assets. 2.1 The Company hereby agrees and irrevocably, unconditionally and exclusively grants the WFOE an option to require the Company to transfer any and all of the assets of the Company (“Target Assets”) to the WFOE or the Designee, in whole or in part, subject to the WFOE’s specific requirements (“Assets Transfer Option”), in the following circumstances: 2.1.1 The WFOE and/or the Designee are permitted to own lawfully all or part of the Target Assets under the PRC laws and regulations; or 2.1.2 Any other circumstances deemed as appropriate or necessary by the WFOE in its sole discretion. 2.2 The Shareholder(s) hereby agree(s) the Company to grant this option. 2.3 The WFOE shall have the right to exercise its purchase right in whole or in part and to acquire the Target Assets in whole or in part without any limit at any time and from time to time. 2.4 The WFOE may designate any third party to acquire the Target Equity in whole or in part and the Company and the Shareholder(s) shall not refuse and shall transfer the Target Assets in whole or in part to such Designee as requested by the WFOE. 2.5 Prior to the transfer of the Target Assets to the WFOE or the Designee according to this Agreement, the Company and the Shareholder(s) shall not transfer the Target Assets without the WFOE’s prior written consent.

Target Assets. 2.1 The Company hereby agrees and irrevocably, unconditionally and exclusively grants the WFOE an option to require the Company to transfer any and all of the assets of the Company (“Target Assets”) to the WFOE or the Designee, in whole or in part, subject to the WFOE’s specific requirements (“Assets Transfer Option”), in the following circumstances: 2.1.1 The WFOE and/or the Designee are permitted to own lawfully all or part of the Target Assets under the PRC laws and regulations; or 2.1.2 Any other circumstances deemed as appropriate or necessary by the WFOE in its sole discretion. 2.2 The Shareholder(s) Shareholders hereby agree(s) agrees the Company to grant this option. 2.3 The WFOE shall have the right to exercise its purchase right in whole or in part and to acquire the Target Assets in whole or in part without any limit at any time and from time to time. 2.4 The WFOE may designate any third party to acquire the Target Equity in whole or in part and the Company and the Shareholder(s) Shareholders shall not refuse and shall transfer the Target Assets in whole or in part to such Designee as requested by the WFOE. 2.5 Prior to the transfer of the Target Assets to the WFOE or the Designee according to this Agreement, the Company and the Shareholder(s) Shareholders shall not transfer the Target Assets without the WFOE’s prior written consent.