Method of Cooperation. Upon the execution of this Agreement, XRF shall establish a wholly owned subsidiary in China to serve as a project company for the cooperation (hereinafter referred to as the "Project Company") to engage in the loan assistance business. OET shall secure credit line funding from licensed financial institutions in China that are qualified to issue loans to the Project Company. The Project Company shall, with the assistance of OET, continuously develop new products and services, assist XRF to complete its business transformation, improve XRF's consolidated revenues and cash flow and create value for the shareholders of XRF. To help incentivize OET to achieve these goals, XRF shall issue to OET a Warrant for the 1 / 11 purchase of an aggregate of up to 66,402,480 Class A ordinary shares of XRF upon the achievement of certain EBITA milestones by the Project Company (hereinafter referred to as “Shares”), which will be exercisable upon the achievement of certain milestones described therein, a form of which is attached hereto as Annex A (hereinafter referred to as the “Warrant”).
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Method of Cooperation. Upon the execution of this Agreement, XRF shall establish a wholly owned subsidiary in China to serve as a project company for the cooperation (hereinafter referred to as the "Project Company") to engage in the loan assistance business. OET shall secure credit line funding from licensed financial institutions in China that are qualified to issue loans to the Project Company. The Project Company shall, with the assistance of OET, continuously develop new products and services, assist XRF to complete its business transformation, improve XRF's consolidated revenues and cash flow and create value for the shareholders of XRF. To help incentivize OET to achieve these goals, XRF shall issue to OET a Warrant for the 1 / 11 purchase of an aggregate of up to 66,402,480 Class A ordinary shares of XRF upon the achievement of certain EBITA milestones by the Project Company (hereinafter referred to as “Shares”), which will be exercisable upon the achievement of certain milestones described therein, a form of which is attached hereto as Annex A (hereinafter referred to as the “Warrant”).
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