Common use of Granting Options Clause in Contracts

Granting Options. Each of Party C’s shareholders hereby irrevocably grants Party A an exclusive option that, as of the effective date of this Agreement, Party A or any third party designated by Party A may, subject to Chinese laws, purchase at any time from any of Party C’s shareholders all or part of Party C’s shares held by it currently or in the future at the minimum price permitted by applicable Chinese laws and regulations in exercising the option (the “Share Purchase Option”). Except for Party A and the designated person, no third party shall have the right to purchase Party C’s shares or any other right related to Party C’s shares. Party C hereby agrees that each of Party C’s shareholders grants the Share Purchase Option to Party A. Party C hereby irrevocably grants Party A an exclusive option that, as of the effective date of this Agreement, Party A or any third party designated by Party A may, subject to Chinese laws, purchase at any time from Party C all or part of Party C’s assets held by it currently or in the future at the net book value of the purchased assets; if the minimum price permitted by applicable Chinese laws is higher than the net book value of the purchased assets, the transfer price of the assets shall be the minimum price permitted by Chinese laws (the “Asset Purchase Option”). Except for Party A and the designated person, no third party shall have the right to purchase Party C’s assets or any other right related to Party C’s assets. Party C hereby agrees that Party C grants the Asset Purchase Option to Party A. The foregoing Share Purchase Option and Asset Purchase Option shall be granted to Party A upon execution by the Parties and entry into force of this Agreement, and such options, upon granting, shall be irrevocable or unalterable within the term of this Agreement. The Parties hereby agree that, upon Party A’s exercise of its Share Purchase Option and/or Asset Purchase Option, all the transfer price received by Party B and/or Party C shall be paid to Party A or any other party designated by it free of charge after deducting the relevant taxes and fees.