Common use of MFN Clause Clause in Contracts

MFN Clause. The Company undertakes to the Purchaser that in the event any Group Company grants, issues, or provides any investor or any other holders of the Equity Securities of the Group Companies (the “Relevant Person”) any right, interest, benefit, privilege or protection, including but not limited to liquidation preference and redemption rights, more favorable in sequence than those granted, and accruing at such time, to the Purchaser, the Purchaser shall have the right to require that the Company concurrently grants, issues, or provides the rights, interests, benefits, privileges and/or protections in the same sequence to the Purchaser pari passu with such Relevant Person. However, the Purchaser shall not be entitled to the MFN rights under this Section 5.15 if: (i) any future single investor whose investment amount is higher than the Purchaser’s investment; or (ii) no more than two future leading investors whose aggregate investment amount is higher than 1.5 times of the Purchaser’s investment. For the avoidance of doubt, any investor making investment via various entities, which are Controlled by the same Person, shall be deemed as a single investor. Where the Company breaches its undertakings under this Section 5.15 and, therefore, fails to fulfil its obligations under this Section 5.15, the Company shall compensate the Purchaser at an amount equal to the balance between the economic benefit the Purchaser could have obtained, if the Purchaser had been granted the rights, interests, benefits, privileges and/or protections in the same sequence pari passu with such Relevant Person and the economic benefit the Purchaser obtains as the holder of Series F-1 Preferred Shares.