Common use of Disposal of the Pledged Property Clause in Contracts

Disposal of the Pledged Property. 4.1 Pledgors, Target Companies and Pledgee hereby agree that, in case of any Breaching Event, Pledgee shall have the right to exercise, upon giving written notice to Pledgors, all of the remedial rights and powers enjoyable by them under PRC Law, including but not limited to being repayment in priority with proceeds from auctions or sale-offs of the Pledged Property. Pledgee shall not be liable for any loss as the result of their reasonable exercise of such rights and powers. 4.2 Pledgee shall have the right to designate in writing its legal counsel or other agents to exercise on their respective behalf any and all rights and powers set out above, and neither Pledgors nor Target Companies shall not oppose thereto. 4.3 The reasonable costs incurred by Pledgee in connection with their exercise of any and all rights and powers set out above shall be borne by Pledgors, and Pledgee shall have the right to deduct the costs actually incurred from the proceeds that they acquire from the exercise of the rights and powers. 4.4 The proceeds that Pledgee acquire from the exercise of their respective rights and powers shall be used in the priority order as follows:

Disposal of the Pledged Property. 4.1 4.1. The Pledgors, Target Companies Company and Pledgee hereby agree that, in case of any Breaching Eventan Event of Default, 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 them available to it under the PRC Law, the Transaction Agreements and the terms hereof, including but not limited to being repayment in priority with proceeds from auctions without limitation, auctioning or sale-offs of selling off the Pledged PropertyProperty so as to be repaid with first priority. The Pledgee shall not be liable for any loss incurred as the a result of their its reasonable exercise of such rights and powers. 4.2 4.2. The Pledgee shall have the right to designate in writing its legal counsel or any other agents agent to exercise on their respective its behalf any and all rights and powers set out above, and neither none of the Pledgors nor Target Companies shall not oppose or the Company may raise any objection thereto. 4.3 4.3. The reasonable costs incurred by the Pledgee in connection with their its exercise of any and all rights and powers set out above shall be borne by the Pledgors, and the Pledgee shall have the right to deduct an amount equal to the costs actually so incurred from the proceeds received by it from its exercise of such rights. 4.4. The proceeds that they acquire the Pledgee received from the exercise of the its rights and powers. 4.4 The proceeds that Pledgee acquire from the exercise of their respective rights and powers shall be used in the order of priority order as follows: