Common use of Grant of Transfer Option Clause in Contracts

Grant of Transfer Option. 2.1. The Existing Shareholders, severally and jointly, irrevocably and without any additional conditions, agree to grant H▇▇ ▇▇▇▇ with a Transfer Option, under which H▇▇ ▇▇▇▇ shall have the right to require the Existing Shareholders to transfer the Option Equity to H▇▇ ▇▇▇▇ or its designated entity or individual according to this Agreement and as permitted by the PRC Law. H▇▇ ▇▇▇▇ agrees to accept such Transfer Option.