The Parties agree to require the appointed independent appraisers to submit the formal independent valuation reports setting out the valuation results within 60 days of March 5, 2017 and the Parties agree to exchange the valuation reports within such period. Both Parties must sign an Equity Transfer Agreement (as defined in the MOU) to transfer the Target Equity Interests from the Company to the Purchaser within five working days from the date of exchange of the formal evaluation report.
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