Letter of Intent
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LETTER OF INTENT
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3. Definitive Agreements
Subject to satisfactory due diligence and agreement on the restructuring plan, within 45 days after the signing of this LOI, the Parties agree to sign and, where necessary, cause their affiliated persons to sign, a number of agreements for the Transaction (Definitive Agreements), including without limitation: cooperative framework agreement, Exclusive Service Agreement, and Exclusive Advertising Agency Agreement. The Parties shall set forth specific provisions regarding the restructuring plan in the cooperative framework agreement.
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6. Non-Competition
6.1 After the completion of the Transaction, Party A shall not, through its shareholders and affiliated companies, without first obtaining the written approval of Party B, operate any business or undertake any cooperation with any third parties that are identical or similar to the Transaction.
6.2 Each Party shall minimize any existing or potential conflicts of interest during the Transaction and shall disclose the existence or awareness of any such conflict to the other Party.
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