Common use of Ways of Exercise Clause in Contracts

Ways of Exercise. 3.1 Subject to the terms and conditions of this Agreement, as permitted by the PRC laws, the WFOE has absolute discretion to determine specific time, method and number of times of exercise. 3.2 Subject to the terms and conditions of this Agreement, the WFOE has the right to require acceptance of assignment of all or part of the equity from the Existing Shareholders at any time, either by itself or through other entities or individuals designated by it, according to the then PRC laws. 3.3 At each time of exercise, the WFOE has the right to arbitrarily designate the amount of equity that the Existing Shareholders should assign to the WFOE and/or other entities or individuals designated by it during relevant exercise. The Existing Shareholders shall assign the assignment equity to the WFOE and/or other entities or individuals designated by it as per the amount required by the WFOE. The WFOE and/or other entities or individuals designated by it shall pay the corresponding assignment price to the Existing Shareholders assigning the assignment equity for the assignment equity assigned during each exercise. 3.4 During each exercise, the WFOE may accept the assignment equity by itself, or may designate any third party to accept the assignment of all or part of the assignment equity. 3.5 After the WFOE decides to exercise its right each time, it shall issue a notice of Purchase Option exercise to the Existing Shareholders (hereinafter referred to as the “exercise notice”. The format of the exercise notice is set out in Appendix II to this Agreement). Upon receipt of the exercise notice, the Existing Shareholders shall immediately assign the assignment equity in whole to the WFOE and/or other entities or individuals designated by it at one time in a manner set out in Article 3.3 of this Agreement in accordance with the exercise notice.

Ways of Exercise. 3.1 Subject to the terms and conditions of this Agreement, as permitted by the PRC laws, the WFOE has absolute discretion to determine the assignee, equity percentage, quantity of assets, specific time, method and number of times of exercise. 3.2 Subject to the terms and conditions of this Agreement, the WFOE has the right to require acceptance of assignment of all or part of the equity option equity/assets of the Company from the Existing Shareholders at any time, either by itself or through other entities or individuals designated by it, according to the then PRC laws. 3.3 At each time of exercise, the WFOE has the right to arbitrarily designate the amount of equity option equity/assets of the Company that the Existing Shareholders Shareholders/the Company should assign to the WFOE and/or other entities or individuals designated by it during relevant exercise. The Existing Shareholders Shareholders/the Company shall assign the assignment equity option equity/assets of the Company to the WFOE and/or other entities or individuals designated by it as per the amount required by the WFOE. The WFOE and/or other entities or individuals designated by it shall pay the corresponding assignment price to the Existing Shareholders assigning Shareholders/the assignment equity Company for the assignment equity option equity/assets of the Company assigned during each exercise. 3.4 During each exercise, the WFOE may accept the assignment equity of the option equity/assets of the Company by itself, or may designate any third party to accept the assignment of all or part of the assignment option equity/assets of the Company. 3.5 After the WFOE decides to exercise its right each time, it shall issue a notice of Purchase Option exercise to the Existing Shareholders Shareholders/the Company (hereinafter referred to as the “exercise notice”. The format of the exercise notice is set out in Appendix II to this Agreement). Upon receipt of the exercise notice, the Existing Shareholders Shareholders/the Company shall immediately assign the assignment equity option equity/assets of the Company in whole to the WFOE and/or other entities or individuals designated by it at one time in a manner set out in Article 3.3 of this Agreement in accordance with the exercise notice.