Common use of Time of Transfer Clause in Contracts

Time of Transfer. 3.1 The transfer of any part or all of the Equity Interest hereunder shall be effected at a time determined by Newegg at its sole discretion by delivering to the Shareholder(s) a written notice, substantially in the form as set forth on Exhibit B attached hereto (the “Exercise Notice”). To the extent permitted under PRC law, Newegg may request at any time that the Shareholder(s) transfer any part or all of the Equity Interest to Newegg and/or its designee(s). 3.2 Upon the Shareholders’ receipt of such Exercise Notice, the Equity Interest shall be transferred pursuant to the terms thereof, and the proposed equity transfer agreement and power of attorney (substantially in the form as set forth in Exhibit C and Exhibit D attached hereto respectively) to be entered into separately between the Parties. In addition, at the direction of Newegg, the Shareholder(s) shall also (and hereby agree to) promptly execute all relevant documents necessary to effect such transfer and cooperate with the transferee(s) of any part or all of the Equity Interest to handle all other statutory formalities for and in connection with such transfer.