Common use of Disposal of the Pledged Equity Clause in Contracts

Disposal of the Pledged Equity. 4.1 The Parties hereby agree that, in case of any Breaching Event, the Pledgee shall have the right to exercise, upon giving a written notice to the Pledgors, all of the remedial rights and powers enjoyable by it under PRC Law, Transaction Agreements and the terms hereof, including (but not limited to) being repaid in priority with proceeds from auctions or sale-offs of the Pledged Equity. The Pledgee shall not be liable for any loss as the result of its reasonable exercise of such rights and powers. 4.2 The Pledgee shall have the right to designate in writing its legal counsel or other agents to exercise on its behalf any and all rights and powers set out above, and neither the Pledgors nor the Company shall raise an objection. 4.3 For the reasonable costs incurred to the Pledgee in connection with its exercise of any or all rights and powers set out above, the Pledgee shall have the right to deduct the costs actually incurred from the proceeds acquired from the exercise of the rights and powers. 4.4 The proceeds that the Pledgee acquires from the exercise of its rights and powers shall be used in the priority order as follows:

Disposal of the Pledged Equity. 4.1 The Parties hereby agree that, that in case of any Breaching EventEvent of Default, the Pledgee shall have the right be entitled to exercise, upon giving a written notice to the PledgorsPledgor, all of the remedial its rights and powers enjoyable by it arising under default remedies under the PRC Law, Laws and the terms of the Transaction Agreements and the terms hereofthis Agreement, including (but not limited to) being repaid repayment in priority with proceeds from auctions or sale-offs of the Pledged Equity. The Pledgee shall not be held liable for any loss as the result of resulting from its reasonable exercise of such rights and powers. 4.2 The Pledgee shall have the right is entitled to designate in writing its legal counsel or any other agents agent in writing to exercise on its behalf any and all rights and powers set out above, and neither the Pledgors nor Pledgor or the Company shall not raise an objectionany objection thereto. 4.3 For As for all reasonable fees incurred in the reasonable costs incurred to the Pledgee in connection with its Pledgee’s exercise of any or all of the above rights and powers set out abovepowers, the Pledgee shall have the right is entitled to deduct the costs same as actually incurred from the proceeds acquired from the in its exercise of the such rights and powers. 4.4 The proceeds that acquired by the Pledgee acquires from the in its exercise of its rights and powers shall be used in the priority order as followsfollowing order: