Common use of Transfer of the Transferred Equity Clause in Contracts

Transfer of the Transferred Equity. 1.1 The parties agree that Party A sells the Transferred Equity in LWY to Buyer in accordance with the stipulation of the Articles of Association (“AOA”) of LWY. After completing the assignment, the Seller shall quit LWY, and the Buyer shall own 25% of the equity interest in LWY. 1.2 As the consideration for Seller’s assignment of the Transferred Equity in this Agreement, the parties agree that Buyer shall pay RMB6,000,000 to the Seller within 30 days from the date of this Agreement. 1.3 The name, business scope and registered capital of LWY shall remain unchanged. 1.4 The Seller shall have all the other shareholders of LWY ratify the transfer herein, and cause LWY to submit the relevant documents (including but not limited to, this Agreement and the amended AOA for LWY) for the registration of the equity interest transfer to the competent government authorities within 20 days from the date of this Agreement so as to make Buyer be the shareholder of LWY.