Common use of Redemption Events Clause in Contracts

Redemption Events. The Company shall give the Preferred Holders a notice of the happening of any of the following circumstances promptly after becoming aware of the same and the Preferred Holders shall be entitled to require redemption in any of the following circumstances (the “Redemption Events”): (a) if the Company fails to initiate, within 24 months from the Series B Closing, the initial public offering of any securities of the Company by entering into one or more public offering agreements with any reputable underwriters in respect of the public offering of any securities of the Company on an internationally recognized securities exchange, including without limitation, the Shanghai Stock Exchange, Shenzhen Stock Exchange, New York Stock Exchange, the Stock Exchange of Hong Kong, Nasdaq Stock Exchange; (b) if the Company fails to consummate, within 36 months from the Series B Closing, a Qualified IPO on an internationally recognized securities exchange, including without limitation, the Shanghai Stock Exchange, Shenzhen Stock Exchange, New York Stock Exchange, the Stock Exchange of Hong Kong, Nasdaq Stock Exchange, or a Trade Sale; (c) if any Founder or any Key Holder commits any fraud, breaches any of his/her non-competition and non-solicitation and/or other fiduciary obligations to the Group Companies; (d) if any of the Control Documents is materially breached or earlier terminated without prior written consent of the Majority Holders which consent shall not be unreasonably withheld or delayed; or (e) if any of the Group Companies, the Founding Shareholders, the Founders, the Key Holder Holdcos or Key Holders commits any material breach of any of the Transaction Documents which has a Material Adverse Effect on the Group Companies as a whole.