Common use of Target Equity Interest Clause in Contracts

Target Equity Interest. 1.1 The Shareholder(s) agree(s) and irrevocably, unconditionally and exclusively grants the WFOE an option to require such Shareholder to transfer any and all of the equity interest of the Company held by such Shareholder (“Target Equity”) to the WFOE or a third party designated by the WFOE (“Designee”), in whole or in part, subject to the WFOE’s specific requirements (“Equity Transfer Option”) in the following circumstances: 1.1.1 The WFOE and/or the Designee are permitted to own lawfully all or part of the Target Equity under the PRC laws and regulations; or 1.1.2 Any other circumstances deemed as appropriate or necessary by the WFOE in its sole discretion. 1.2 The Company hereby agrees the Shareholder(s) to grant this option to the WFOE. 1.3 The WFOE shall have the right to exercise its purchase right in whole or in part and to acquire the Target Equity in whole or in part without any limit at any time and from time to time. 1.4 The WFOE may designate any third party to acquire the Target Equity in whole or in part and the Shareholder(s) shall not refuse and shall transfer the Target Equity in whole or in part to such Designee as requested by the WFOE. 1.5 Prior to the transfer of the Target Equity to the WFOE or the Designee according to this Agreement, the Shareholder(s) shall not transfer any Target Equity without the WFOE’s prior written consent.

Target Equity Interest. 1.1 The Shareholder(s) agree(s) Shareholders agrees and irrevocably, unconditionally and exclusively grants the WFOE an option to require such Shareholder to transfer any and all of the equity interest of the Company held by such Shareholder (“Target Equity”) to the WFOE or a third party designated by the WFOE (“Designee”), in whole or in part, subject to the WFOE’s specific requirements (“Equity Transfer Option”) in the following circumstances: 1.1.1 The WFOE and/or the Designee are permitted to own lawfully all or part of the Target Equity under the PRC laws and regulations; or 1.1.2 Any other circumstances deemed as appropriate or necessary by the WFOE in its sole discretion. 1.2 The Company hereby agrees the Shareholder(s) Shareholders to grant this option to the WFOE. 1.3 The WFOE shall have the right to exercise its purchase right in whole or in part and to acquire the Target Equity in whole or in part without any limit at any time and from time to time. 1.4 The WFOE may designate any third party to acquire the Target Equity in whole or in part and the Shareholder(s) Shareholders shall not refuse and shall transfer the Target Equity in whole or in part to such Designee as requested by the WFOE. 1.5 Prior to the transfer of the Target Equity to the WFOE or the Designee according to this Agreement, the Shareholder(s) Shareholders shall not transfer any Target Equity without the WFOE’s prior written consent.