Common use of Event of Breach Clause in Contracts

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach any obligations under the Transaction Documents and/or this Agreement; 7.1.2 The Pledgers have serious misstatement or mistake in any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 of this Agreement; 7.1.3 The Pledgers and Party C fail to complete the registration of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly stipulated in Section 6.1.1, the Pledgers transfer or intend to transfer or surrender the Equity Interest or assign the Equity Interest without the Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse to perform their payment obligations under the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers cannot or possibly cannot exercise its rights over the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with Section 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach any obligations under the Transaction Documents and/or this AgreementContract; 7.1.2 The Pledgers have serious misstatement or mistake in any statement or warranty made in Section 5 of this Agreement Contract and/or the Pledgers violate any warranty in Section 5 of this AgreementContract; 7.1.3 The Pledgers and Party C fail to complete the registration of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision of this AgreementContract; 7.1.5 Except otherwise clearly stipulated in Section 6.1.1, the Pledgers transfer or intend to transfer or surrender the Equity Interest or assign the Equity Interest without the Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement Contract enforceable, lawful and valid is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment of governing laws renders this Agreement Contract unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse to perform their payment obligations under the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers cannot or possibly cannot exercise its rights over the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with Section 8 of this AgreementContract.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to pay in full any obligations of the consulting and service fees payable under the Transaction Documents and/or this AgreementExclusive Business Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by Pledgor in Section Article 5 of this Agreement contains material misrepresentations or errors, and/or Pledgor violates any of the Pledgers violate any warranty warranties in Section Article 5 of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to register the Pledge in the shareholders' register of Party C or to complete the Pledge registration of equity pledge with the registration authority stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers and Pledgor or Party C violate breach any provision provisions of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the prior written consent of Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay Any of Pledgor's own loans, guarantees, indemnifications, promises or perform in advance or (ii) fails to repay or perform upon maturity any other debt obligations owed liabilities to any third party such as loan, guarantee, indemnification and promiseor parties (1) become subject to a demand of early repayment or performance due to default on the part of Pledgor; or (2) become due but are not capable of being repaid or performed in a timely manner; 7.1.7 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 The enactment promulgation of governing applicable laws renders this Agreement unlawful illegal or makes the Pledgers unable renders it impossible for Pledgor to continue performing to perform its obligations hereunderunder this Agreement; 7.1.9 The Pledgers’ assets experience negative change Adverse changes in properties owned by Pledgor, which lead Pledgee to the extent believe that affects the Pledgers’ that Pledgor's ability to perform its obligations hereunderunder this Agreement has been affected; 7.1.10 The successor or custodian of Party B’s heirs or custodians C is capable of only partially perform or refuse refuses to perform their the payment obligations under the Transaction DocumentsExclusive Business Cooperation Agreement; 7.1.11 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s 's satisfaction, the Pledgee may issue a Notice of Default to the Pledgers Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C to thereafter and demand that Pledgor immediately perform their pay all outstanding payments due obligations under the Transaction Documents Exclusive Business Cooperation Agreement and all other payments due to Pledgee, and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed as Event of Default: 7.1.1 The Pledgers and/or Party B Pledgor’s any breach to any obligations under the Transaction Documents and/or this Agreement;. 7.1.2 The Pledgers have serious misstatement or mistake in Party C’s any statement or warranty made in Section 5 of this Agreement breach to any obligations under the Transaction Documents and/or the Pledgers violate any warranty in Section 5 of this Agreement;. 7.1.3 The Pledgers and Party C fail to complete the registration of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest equity interest pledged or assign assigns the Equity Interest equity interest pledged without the written consent of Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 7.1.4 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 7.1.5 The enactment promulgation of governing applicable laws renders this Agreement unlawful illegal or makes the Pledgers unable renders it impossible for Pledgor to continue performing its to perform his obligations hereunderunder this Agreement; 7.1.9 The Pledgers’ assets experience negative change 7.1.6 Adverse changes in properties owned by Pledgor, which lead Pledgee to the extent reasonably believe that affects the Pledgers’ that Pledgor’s ability to perform its his obligations hereunderunder this Agreement has been affected; 7.1.10 7.1.7 The successor or custodian of Party B’s heirs or custodians C is capable of only partially perform performing or refuse refuses to perform their the payment obligations under the Transaction Documents;Exclusive Business Cooperation Agreement; and 7.1.11 7.1.8 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances circumstance or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor and Party C shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, satisfaction within twenty (20) days after the Pledgee may delivers a notice to the Pledgor and /or Party C requesting ratification of such Event of Default, Pledgee may, subject to the provisions of Section 8.1, issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgor to immediately perform their due obligations under the Transaction Documents and/or dispose of exercise the Pledge in accordance with the provisions of Section 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed an Event of Default: 7.1.1 The Pledgers and/or Party B breach any obligations C fails to pay the consulting and service fees payable under the Transaction Documents and/or Business Cooperation agreement in full or violates any other obligations of Party C under this Agreement; 7.1.2 The Pledgers have serious misstatement any representations or mistake warranties made by the Pledgor or Party C under this agreement or any of the main agreements that contain misrepresentation or error in any statement respect, and/or that the Pledgor or warranty made in Section 5 Party C contravenes any representations or warranties under this agreement or any of this Agreement and/or the Pledgers violate any warranty in Section 5 of this Agreementmain agreements; 7.1.3 The Pledgers Pledgor and Party C fail failed to complete the registration of the equity pledge with the registration authority in accordance with Section the provisions of section 3.1.; 7.1.4 The Pledgers Pledgor and Party C violate or fail to perform any provision of the obligations under this agreement or any of the main agreements, or fail to comply with any of the provisions of this Agreementagreement or any of the main agreements; 7.1.5 Except otherwise clearly stipulated for expressly provided in Section Article 6.1.1, the Pledgers transfer assignee transfers or intend purports to transfer or surrender waive the Equity Interest pledged equity or assign to transfer the Equity Interest pledged equity interest without the written consent of the Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay the Pledgor’s own loan, guarantee, compensation, commitment or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed other liability to any third party such (1) is required to be paid or performed in advance due to the breach of Agreement by the Pledgor; or (2) has expired but cannot be repaid or performed as loan, guarantee, indemnification and promisescheduled; 7.1.7 Any government approval, license, permit permission or authorization of a government agency that renders makes this Agreement agreement enforceable, lawful and valid effective is withdrawn, terminatedsuspended, invalid invalidated or substantially changedaltered; 7.1.8 The enactment of governing laws renders applicable law makes this Agreement unlawful agreement illegal or makes the Pledgers unable Pledgor incapable to continue performing to perform its obligations hereunderunder this agreement; 7.1.9 The Pledgers’ assets experience negative adverse change in the property owned by the Pledgor, which leads the Pledgee to believe that the extent that affects ability of the Pledgers’ ability Pledgor to perform its fulfil his obligations hereunderunder this agreement has been affected; 7.1.10 the successors or trustees of Party B’s heirs or custodians C may only partially perform or refuse to perform their the payment obligations liability under the Transaction Documents;Business Cooperation Agreement; and 7.1.11 Any other circumstance where situation in which the Pledgers Pledgee cannot or possibly canmay not be able to exercise its rights over the Pledgehis pledge right. 7.2 Upon notice or discovery Party B should immediately notify Party A in writing of the occurrence of any circumstances event under Article 7.1 herein or event any events that may lead to result in the aforementioned circumstances described in Section 7.1, the Pledgers shall immediately notify the Pledgee in writing accordinglyforegoing events upon his knowledge. 7.3 Unless an Event of the Default set forth in this Section under Article 7.1 herein has been successfully resolved remedied to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of Pledgee, at any time when the Event of Default occurs or at any time thereafter, demanding may issue a written notice of default to the Pledgers and/or Party C to Pledgor and require the Pledgor immediately perform their due obligations make full payments of the outstanding service fees under the Transaction Documents and/or dispose of Service Agreement and other payables or foreclose on the Pledge in accordance with Section Article 8 of this Agreementherein.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to fully and timely fulfill any obligations liabilities under the Transaction Documents, including without limitation failure to pay in full any of the payment payable under the Transaction Documents and/or this Agreementor breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement Pledgor or mistake in Party C has committed a material breach of any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 provisions of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to register the Pledge in the shareholders’ register of Party C or fail to complete the registration Registration of equity pledge with the registration authority Pledge stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer or intend to transfer or surrender Pledgor abandons the Equity Interest pledged or assign transfers or purports to transfer the Equity Interest pledged without the written consent of Pledgee’s written consent; 7.1.6 7.1.5 The Pledgers (i) are required to repay successor or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid custodian of Party C is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment capable of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents;; and 7.1.11 Any 7.1.6 Due to causes of the Pledgor or Party C, any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the PledgePledge in accordance with applicable laws. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within twenty (20) working days after the Pledgee delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgor to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to perform any obligations under the Transaction Documents and/or this Exclusive Business Cooperation Agreement, including but not limited to its failure to pay in full any of the consulting and service fees payable under the Exclusive Business Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by Pledgor in Section Article 5 of this Agreement contains material misrepresentations or errors, and/or Pledgor violates any of the Pledgers violate any warranty warranties in Section Article 5 of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to complete the registration of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate substantially breach any provision provisions of this Agreement, or fails to correct such breach within 30 days after being notified by the non-breaching party; 7.1.5 7.1.4 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay 7.1.5 Any of Pledgor’s own loans, guarantees, indemnifications, promises or perform in advance or (ii) fails to repay or perform upon maturity any other debt obligations owed liabilities to any third party such as loan, guarantee, indemnification and promiseor parties (1) become subject to a demand of early repayment or performance due to default on the part of Pledgor; or (2) become due but are not capable of being repaid or performed in a timely manner; 7.1.7 7.1.6 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.7 The promulgation of applicable laws renders this Agreement illegal or renders it impossible for Pledgor to continue to perform its obligations under this Agreement; 7.1.8 The enactment successor or custodian of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians C is capable of only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents;Exclusive Business Cooperation Agreement; and 7.1.11 7.1.9 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C to thereafter and demand that Pledgor immediately perform their pay all outstanding payments due obligations under the Transaction Documents Principal Agreements and all other payments due to Pledgee, and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach A Pledgor makes any obligations materially false or misleading representations or warranties under the Transaction Documents and/or this AgreementSection 5 herein, or breaches any warranties under Section 5 herein; 7.1.2 The Pledgers have serious misstatement or mistake in A Pledgor breaches the covenants under Section 6 herein; 7.1.3 A Pledgor breaches any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 terms and conditions of this Agreement; 7.1.3 7.1.4 Except otherwise stipulated under Section 6.1.1, Pledgor transfers or purports to transfer or abandons the Equity Interest pledged or assigns the Equity Interest pledged without the written consent of Pledgee; 7.1.5 Any loan, guarantee, compensation, commitment or other liabilities which (i) have been requested for the repayment or performance due to the breach of the contract; or (ii) are unable to be repaid or performed on due date, so as to cause the Pledgee to believe that such Pledgor’s ability to perform the obligations herein is adversely affected; 7.1.6 The Pledgers Pledgor is incapable of repaying debt in general; 7.1.7 The enactment of laws and Party C fail to complete regulation cause the registration illegality of equity pledge with this Agreement or failure of the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision continued performance by the Pledgor of the obligation under this Agreement; 7.1.5 Except otherwise clearly stipulated in Section 6.1.17.1.8 Any consent, the Pledgers transfer or intend to transfer or surrender the Equity Interest or assign the Equity Interest without the Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loanpermit, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit approval or authorization that renders for the legality, enforcement or validity of this Agreement enforceablefrom governmental authorities is revoked, lawful and valid is withdrawnsuspended, terminated, invalid void or substantially changed; 7.1.8 The enactment of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder;. 7.1.9 The Pledgers’ assets experience negative occurrence of any adverse change to the extent that affects assets or property of the Pledgers’ Pledgor, which in Pledgee’s determination, may impact the ability of the Pledgor to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse to perform their payment obligations The occurrence of any other circumstances under which the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers canPledgee is not or possibly canmay not able to exercise its rights over hereunder in accordance with the Pledgeapplicable law. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction after the Pledgee delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with the provisions of Section 8 of this Agreement.

Event of Breach. 7.1 8.1 The following circumstances shall be deemed an Event of Default: 7.1.1 The Pledgers and/or Party B breach 8.1.1 [Affiliated Consolidated Entity], of which the equity interests are held by Pledgors, fails to fully and timely fulfill any obligations under liabilities, and the Transaction Documents and/or this Agreementtime of delay exceeds 3 months; 7.1.2 The Pledgers have serious misstatement or mistake in 8.1.2 any statement representation or warranty made by Pledgors in Section 5 Article 6 of this Agreement is of substantial misrepresentation or mistake, and/or the Pledgers Pledgors violate any warranty warranties set forth in Section 5 Article 6; 8.1.3 Pledgors violate promises set forth in Article 7 of this Agreement; 7.1.3 The Pledgers and Party C fail to complete the registration of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision of 8.1.4 (except as permitted by this Agreement; 7.1.5 Except otherwise clearly stipulated in Section 6.1.1), the Pledgers Pledgors transfer or intend purport to transfer or surrender abandon the Equity Interest Pledged Object or assign the Equity Interest any part of it without the written consent of the Pledgee’s written consent; 7.1.6 The Pledgers 8.1.5 any loan, encumbrance, compensation, promise or any other liability of Pledgors themselves to any party: (i1) are is required to repay or perform in advance beforehand due to material breach, or (ii2) fails to repay has been due but cannot be paid or perform upon maturity any debt performed on time, and thus cause substantial influence on Pledgors’ capability of performing the obligations owed to any third party such as loan, guarantee, indemnification and promiseunder this Agreement; 7.1.7 Any government approval8.1.6 Pledgors cannot repay any other substantial liability; 8.1.7 due to enactment of relevant laws, licensethis Agreement becomes illegal, permit or Pledgors cannot proceed to perform obligations under this Agreement; 8.1.8 any consent, permission, approval or authorization that renders of relative governmental authorities which is necessary for legal existence or effectiveness or enforceability of this Agreement enforceableAgreement, lawful and valid is withdrawnrevoked, terminatedsuspended, invalid or substantially changedrevised; 7.1.8 The enactment 8.1.9 in case material changes occur to property owned by Pledgors, thus causing Pledgors’ capability of governing laws renders performing the obligations under this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunderbe substantially influenced; 7.1.9 The Pledgers’ assets experience negative change to 8.1.10 the extent that affects the Pledgers’ ability successor or custodian can only partly perform or refuses to perform its obligations hereunderthe payment liability under the Service Agreement; 7.1.10 Party B’s heirs 8.1.11 Pledgors’ violations of other provisions of this Agreement by act or custodians only partially perform or refuse to perform their payment obligations under the Transaction Documentsomission, which constitute a default; 7.1.11 Any 8.1.12 other circumstance where occasions under which the Pledgers Pledgee cannot or possibly cannot exercise its rights over the Pledgeenforce Pledge pursuant to relative laws. 7.2 8.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1Article 8.1, the Pledgers Pledgors shall immediately notify the Pledgee in writing accordingly. 7.3 8.3 Unless an Event of Default set forth in this Section 7.1 Article 8.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgors in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgors to immediately perform their due obligations pay the unpaid price under the Transaction Documents and/or Service Agreement and other payment due, or dispose of the Pledge in accordance with Section 8 the provisions of this Agreement. 8.4 The terms with respect to default stipulated in this Agreement, shall not prejudice any other right of relief which Parties may enjoy in accordance with current effective laws and regulations of China.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to perform any obligations under the Transaction Documents and/or this Exclusive Business Cooperation Agreement, including but not limited to its failure to pay in full any of the consulting and service fees payable under the Exclusive Business Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by Pledgor in Section Article 5 of this Agreement contains material misrepresentations or errors, and/or Pledgor violates any of the Pledgers violate any warranty warranties in Section Article 5 of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to complete the registration of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate substantially breach any provision provisions of this Agreement, or fails to correct such breach within 30 days after being notified by the non-breaching party; 7.1.5 7.1.4 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent; 7.1.6 7.1.5 The Pledgers (i) are required to repay successor or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid custodian of Party C is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment capable of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents;Exclusive Business Cooperation Agreement; and 7.1.11 7.1.6 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C to thereafter and demand that Pledgor immediately perform their pay all outstanding payments due obligations under the Transaction Documents Principal Agreements and all other payments due to Pledgee, and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to fully and timely fulfill any obligations liabilities under the Transaction Documents and/or this Business Cooperation Agreement, including without limitation failure to pay in full any of the consulting and service fees payable under the Business Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement Pledgor or mistake in Party C has committed a material breach of any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 provisions of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to register the Pledge in the shareholders' register of Party C or fail to complete the registration Registration of equity pledge with the registration authority Pledge stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent;; and 7.1.6 7.1.5 The Pledgers (i) are required to repay successor or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid custodian of Party C is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment capable of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers cannot or possibly cannot exercise its rights over the PledgeBusiness Cooperation Agreement. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to Pledgee's satisfaction within twenty (20) working days after the Pledgee’s satisfactionPledgee delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgor to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to pay in full any obligations of the consulting and service fees payable under the Transaction Documents and/or this AgreementBusiness Cooperation Agreement or causes any loss to Pledgee due to breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by any Pledgor in Section 5 of this Agreement contains material misrepresentations or errors, and/or any Pledgor violates any of the Pledgers violate any warranty warranties in Section 5 of this Agreement; 7.1.3 The Pledgers and Party C fail to complete register the registration Pledge in the shareholders’ register of equity pledge with the registration authority Party C stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers Any Pledgor and Party C violate breach any provision provisions of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer any Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 7.1.7 The enactment promulgation of governing applicable laws renders this Agreement unlawful illegal or makes the Pledgers unable renders it impossible for any Pledgor to continue performing its to perform its/his obligations hereunderunder this Agreement; 7.1.8 Adverse changes in the Equity Interest pledged by any Pledgor, which lead Pledgee to reasonably believe that such Pledgor’s ability to perform its/his obligations under this Agreement has been affected; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability successor or custodian of Party C is capable of only partially performing or refuses to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse to perform their the payment obligations under the Transaction Documents;Business Cooperation Agreement; and 7.1.11 7.1.10 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor who becomes aware of such occurrence shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers defaulting Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C thereafter and demand to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with the provisions of Section 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach A Pledgor makes any obligations materially false or misleading representations or warranties under the Transaction Documents and/or this AgreementSection 5 herein, or breaches any warranties under Section 5 herein; 7.1.2 The Pledgers have serious misstatement or mistake in A Pledgor breaches the covenants under Section 6 herein; 7.1.3 A Pledgor breaches any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 terms and conditions of this Agreement; 7.1.3 7.1.4 Except otherwise stipulated under Section 6.1.1, Pledgor transfers or purports to transfer or abandons the Equity Interest pledged or assigns the Equity Interest pledged without the written consent of Pledgee; 7.1.5 Any loan, guarantee, compensation, commitment or other liabilities which (i) have been requested for the repayment or performance due to the breach of the contract; or (ii) are unable to be repaid or performed on due date, so as to cause the Pledgee to believe that such Pledgor’s ability to perform the obligations herein is adversely affected; 7.1.6 The Pledgers Pledgor is incapable of repaying debt in general; 7.1.7 The enactment of laws and Party C fail to complete regulation cause the registration illegality of equity pledge with this Agreement or failure of the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision continue performance by the Pledgor of the obligation under this Agreement; 7.1.5 Except otherwise clearly stipulated in Section 6.1.17.1.8 Any consent, the Pledgers transfer or intend to transfer or surrender the Equity Interest or assign the Equity Interest without the Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loanpermit, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit approval or authorization that renders for the legality, enforcement or validity of this Agreement enforceablefrom governmental authorities is revoked, lawful and valid is withdrawnsuspended, terminated, invalid void or substantially changed; 7.1.8 The enactment of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder;. 7.1.9 The Pledgers’ assets experience negative occurrence of any adverse change to the extent that affects assets or property of the Pledgers’ Pledgor, which in Pledgee’s determination, may impact the ability of the Pledgor to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse to perform their payment obligations The occurrence of any other circumstances under which the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers canPledgee is not or possibly canmay not able to exercise its rights over hereunder in accordance with the Pledgeapplicable law. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction after the Pledgee delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with the provisions of Section 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed as Event of Default: 7.1.1 The Pledgers and/or Party B Pledgor’s any breach to any obligations under the Transaction Documents and/or this Agreement;. 7.1.2 The Pledgers have serious misstatement or mistake in Party C’s any statement or warranty made in Section 5 of this Agreement breach to any obligations under the Transaction Documents and/or the Pledgers violate any warranty in Section 5 of this Agreement;. 7.1.3 The Pledgers and Party C fail to complete the registration of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest equity interest pledged or assign assigns the Equity Interest equity interest pledged without the written consent of Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 7.1.4 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 7.1.5 The enactment promulgation of governing applicable laws renders this Agreement unlawful illegal or makes the Pledgers unable renders it impossible for Pledgor to continue performing to perform its obligations hereunderunder this Agreement; 7.1.9 The Pledgers’ assets experience negative change 7.1.6 Adverse changes in properties owned by Pledgor, which lead Pledgee to the extent reasonably believe that affects the Pledgers’ that Pledgor’s ability to perform its obligations hereunderunder this Agreement has been affected; 7.1.10 7.1.7 The successor or custodian of Party B’s heirs or custodians C is capable of only partially perform performing or refuse refuses to perform their the payment obligations under the Transaction Documents;Business Cooperation Agreement; and 7.1.11 7.1.8 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances circumstance or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor and Party C shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, satisfaction within twenty (20) days after the Pledgee may and /or Party C delivers a notice to the Pledgor requesting ratification of such Event of Default, Pledgee may, subject to the provisions of Section 8.1, issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgor to immediately perform their due obligations under the Transaction Documents and/or dispose of exercise the Pledge in accordance with the provisions of Section 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed as Event of Default: 7.1.1 The Pledgers and/or Party B Pledgor’s any breach to any obligations under the Transaction Documents and/or this Agreement;. 7.1.2 The Pledgers have serious misstatement or mistake in Party C’s any statement or warranty made in Section 5 of this Agreement breach to any obligations under the Transaction Documents and/or the Pledgers violate any warranty in Section 5 of this Agreement;. 7.1.3 The Pledgers and Party C fail to complete the registration of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest equity interest pledged or assign assigns the Equity Interest equity interest pledged without the written consent of Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 7.1.4 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 7.1.5 The enactment promulgation of governing applicable laws renders this Agreement unlawful illegal or makes the Pledgers unable renders it impossible for Pledgor to continue performing to perform its obligations hereunderunder this Agreement; 7.1.9 The Pledgers’ assets experience negative change 7.1.6 Adverse changes in properties owned by Pledgor, which lead Pledgee to the extent reasonably believe that affects the Pledgers’ that Pledgor’s ability to perform its obligations hereunderunder this Agreement has been affected; 7.1.10 7.1.7 The successor or custodian of Party B’s heirs or custodians C is capable of only partially perform performing or refuse refuses to perform their the payment obligations under the Transaction Documents;Exclusive Business Cooperation Agreement; and 7.1.11 7.1.8 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances circumstance or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor and Party C shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, satisfaction within twenty (20) days after the Pledgee may delivers a notice to the Pledgor and /or Party C requesting ratification of such Event of Default, Pledgee may, subject to the provisions of Section 8.1, issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgor to immediately perform their due obligations under the Transaction Documents and/or dispose of exercise the Pledge in accordance with the provisions of Section 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to pay in full any obligations of the consulting and service fees payable under the Transaction Documents and/or this AgreementBusiness Cooperation Agreement or causes any loss to Pledgee due to breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by any Pledgor in Section 5 of this Agreement contains material misrepresentations or errors, and/or any Pledgor violates any of the Pledgers violate any warranty warranties in Section 5 of this Agreement; 7.1.3 The Pledgers and Party C fail to complete register the registration Pledge in the shareholders’ register of equity pledge with the registration authority Party C stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers Any Pledgor and Party C violate breach any provision provisions of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer any Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 7.1.7 The enactment promulgation of governing applicable laws renders this Agreement unlawful illegal or makes the Pledgers unable renders it impossible for any Pledgor to continue performing its to perform his obligations hereunderunder this Agreement; 7.1.8 Adverse changes in the Equity Interest pledged by any Pledgor, which lead Pledgee to reasonably believe that such Pledgor’s ability to perform his obligations under this Agreement has been affected; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability successor or custodian of Party C is capable of only partially performing or refuses to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse to perform their the payment obligations under the Transaction Documents;Business Cooperation Agreement; and 7.1.11 7.1.10 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor who becomes aware of such occurrence shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers defaulting Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C thereafter and demand to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with the provisions of Section 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party D fails to fully and timely fulfill any liabilities under the Business Cooperation Agreement or the Framework Agreement, including without limitation failure to pay in full any of the consulting and service fees payable under the Business Cooperation Agreement, or breaches any other obligations of Party D thereunder; or Party B breach fails to fully and timely fulfill any obligations liabilities under the Transaction Documents and/or this Loan Agreement, including without limitation failure to repay in full any of the loan or the accrued interest repayable under the Loan Agreement, or breaches any other obligations of Party B thereunder; 7.1.2 The Pledgers have serious misstatement Pledgors or mistake in Party D has committed a material breach of any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 provisions of this Agreement; 7.1.3 The Pledgers Pledgors and Party C D fail to register the Pledge in the shareholders’ register of Party D or fail to complete the registration Registration of equity pledge with the registration authority Pledge stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers Pledgors transfer or intend purport to transfer or surrender abandon the Equity Interest pledged or assign the Equity Interest pledged without the written consent of Pledgee’s written consent;; and 7.1.6 7.1.5 The Pledgers (i) are required to repay successor or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid custodian of Party D is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment capable of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform performing or refuse to perform their the payment obligations under the Transaction Documents; 7.1.11 Any other circumstance where Business Cooperation Agreement, or the Pledgers cannot successor or possibly cannot exercise its rights over custodian of Party B is capable of only partially performing or refuse to perform the Pledgerepayment obligations under the Loan Agreement. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgors shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within twenty (20) working days after Pledgee delivers a notice to Pledgors requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgors in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgors to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The Any of the following circumstances shall be deemed an Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to pay in full any obligations of the consulting and service fees payable under the Transaction Documents and/or this AgreementBusiness Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by Pledgor in Section Article 5 of this Agreement contains material misrepresentations or errors, and/or the Pledgers Pledgors violate any warranty of the warranties in Section Article 5 of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to complete the registration of equity pledge the Pledge with the registration authority Registration Authority in accordance with Section Article 3.1.; 7.1.4 The Pledgers Pledgor and Party C violate breach any provision provisions of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers Pledgors transfer or intend purport to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent; 7.1.6 The Pledgers Any of Pledgors’ own loans, guarantees, indemnifications, promises or other debt liabilities to any third party or parties (i) are required become subject to repay a demand of early repayment or perform in advance performance due to default on the part of Pledgors; or (ii) fails to repay become due but can not be repaid or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promiseperformed in a timely manner; 7.1.7 Any government approval, license, permit or authorization of government authorities that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 The enactment promulgation of governing applicable laws renders this Agreement unlawful illegal or makes the Pledgers unable renders it impossible for Pledgors to continue performing its to perform their obligations hereunderunder this Agreement; 7.1.9 The Pledgers’ assets experience negative change Adverse changes in properties owned by Pledgors, which lead Pledgee to the extent believe that affects the Pledgersthat Pledgors’ ability to perform its obligations hereunderunder this Agreement has been affected; 7.1.10 The successor or custodian of Party B’s heirs or custodians C is capable of only partially perform performing or refuse refuses to perform their the payment obligations under the Transaction Documents;Business Cooperation Agreement; and 7.1.11 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgors shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers Pledgors in writing upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C to thereafter and demand that Pledgors immediately perform their pay all outstanding payments due obligations under the Transaction Documents Business Cooperation Agreement, and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B Pledgor’s any breach to any obligations under the Transaction Documents and/or this Agreement. 7.1.2 Party C’s any breach to any obligations under the Transaction Documents and/or this Agreement. 7.1.3 Any of Pledgor’s own loans, guarantees, indemnifications, promises or other debt liabilities exceeding RMB300,000 to any third party or parties (1) becoming subject to a demand of early repayment or performance due to the default of Pledgor; or (2) becoming due but are not capable of being repaid or performed in a timely manner, which lead Pledgee to reasonably believe that that Pledgor’s ability to perform its obligations under this Agreement has been affected; 7.1.2 The Pledgers have serious misstatement or mistake in any statement or warranty made in Section 5 of 7.1.4 Xxxxxxx’s unable to pay his debt exceeding RMB300,000 that cause Pledgee to reasonably believe that the Pledgor’s ability to perform its obligations under this Agreement and/or has been affected; 7.1.5 The applicable laws rendering this Agreement illegal or rendering the Pledgers violate any warranty in Section 5 of Pledgor not to continue to perform its obligations under this Agreement; 7.1.3 The Pledgers and Party C fail to complete the registration of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly stipulated in Section 6.1.1, the Pledgers transfer or intend to transfer or surrender the Equity Interest or assign the Equity Interest without the Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders of government agencies to legalize or give effective to this Agreement enforceableAgreement, lawful and valid is being withdrawn, terminated, invalid invalidated or substantially changedsubstantively revised; 7.1.8 The enactment of governing laws renders this Agreement unlawful or makes the Pledgers unable 7.1.7 Any material adverse changes to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change Pledgor’s properties, which cause Pledgee to the extent reasonably believe that affects the Pledgers’ Pledgor’s ability to perform its obligations hereunderunder the Agreement has been adversely affected; 7.1.10 7.1.8 Party BC’s heirs successor or custodians only custodian partially perform performing or refuse refusing to perform their the payment obligations obligation under the Transaction Documents;Exclusive Business Cooperation Agreement; and 7.1.11 Any other circumstance where 7.1.9 The applicable laws prohibiting the Pledgers cannot or possibly cannot Pledgor’s exercise its rights over the Pledgeof Pledge under this Agreement. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor and Party C shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within twenty (20) days after the Pledgee and /or Party C delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgor to immediately perform their due obligations under the Transaction Documents and/or dispose of exercise the Pledge in accordance with the provisions of Section 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed as the Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to fully and timely fulfill any obligations liabilities under the Transaction Documents and/or this Business Cooperation Agreement, including without limitation failure to pay in full any of the consulting and service fees payable under the Business Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by the Pledgor in Section Article 5 of this Agreement contains material misrepresentations or errors, and/or the Pledgers violate Pledgor violates any warranty of the warranties in Section Article 5 of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to register the Pledge in the shareholders’ register of Party C or fail to complete the registration Registration of equity pledge with the registration authority Pledge stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers and Pledgor or Party C violate breach any provision provisions of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of the Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay successor or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid custodian of Party C is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment capable of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents;Business Cooperation Agreement; and 7.1.11 Any 7.1.7 Due to causes of the Pledgor or Party C, any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the PledgePledge in accordance with applicable laws. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter, demanding thereafter and demand that the Pledgers and/or Party C to Pledgor immediately perform their fulfill its obligations and pay all outstanding payments due obligations under the Transaction Documents Business Cooperation Agreement and all other payments due to the Pledgee, and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party D fails to fully and timely fulfill any liabilities under the Business Cooperation Agreement, including without limitation failure to pay in full any of the consulting and service fees payable under the Business Cooperation Agreement, or breaches any other obligations of Party D thereunder; or Party B breach or Party C fails to fully and timely fulfill any obligations liabilities under the Transaction Documents and/or this AgreementLoan Agreements, including without limitation failure to repay in full any of the loan or the accrued interest repayable under the Loan Agreements, or breaches any other obligations of Party B or Party C thereunder; 7.1.2 The Pledgers have serious misstatement Pledgors or mistake in Party D has committed a material breach of any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 provisions of this Agreement; 7.1.3 The Pledgers Pledgors and Party C D fail to register the Pledge in the shareholders’ register of Party D or fail to complete the registration Registration of equity pledge with the registration authority Pledge stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers Pledgors transfer or intend purport to transfer or surrender abandon the Equity Interest pledged or assign the Equity Interest pledged without the written consent of Pledgee’s written consent;; and 7.1.6 7.1.5 The Pledgers (i) are required to repay successor or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid custodian of Party D is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment capable of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform performing or refuse to perform their the payment obligations under the Transaction Documents; 7.1.11 Any other circumstance where Business Cooperation Agreement, or the Pledgers cannot successor or possibly cannot exercise its rights over custodian of Party B or Party C is capable of only partially performing or refuse to perform the Pledgerepayment obligations under the Loan Agreement. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Xxxxxxxx shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within twenty (20) working days after Pledgee delivers a notice to Pledgors requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgors in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgors to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B Pledgor’s any breach to any obligations under the Transaction Documents and/or this Agreement. 7.1.2 Party C’s any breach to any obligations under the Transaction Documents and/or this Agreement. 7.1.3 Any of Pledgor’s own loans, guarantees, indemnifications, promises or other debt liabilities exceeding RMB 300,000 to any third party or parties (1) becoming subject to a demand of early repayment or performance due to the default of Pledgor; or (2) becoming due but are not capable of being repaid or performed in a timely manner, which lead Pledgee to reasonably believe that that Pledgor’s ability to perform its obligations under this Agreement has been affected; 7.1.2 The Pledgers have serious misstatement or mistake in any statement or warranty made in Section 5 of 7.1.4 Pledgor’s unable to pay his debt exceeding RMB 300,000 that cause Pledgee to reasonably believe that the Pledgor’s ability to perform its obligations under this Agreement and/or has been affected; 7.1.5 The applicable laws rendering this Agreement illegal or rendering the Pledgers violate any warranty in Section 5 of Pledgor not to continue to perform its obligations under this Agreement; 7.1.3 The Pledgers and Party C fail to complete the registration of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly stipulated in Section 6.1.1, the Pledgers transfer or intend to transfer or surrender the Equity Interest or assign the Equity Interest without the Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders of government agencies to legalize or give effective to this Agreement enforceableAgreement, lawful and valid is being withdrawn, terminated, invalid invalidated or substantially changedsubstantively revised; 7.1.8 The enactment of governing laws renders this Agreement unlawful or makes the Pledgers unable 7.1.7 Any material adverse changes to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change Pledgor’s properties, which cause Pledgee to the extent reasonably believe that affects the Pledgers’ Pledgor’s ability to perform its obligations hereunderunder the Agreement has been adversely affected; 7.1.10 7.1.8 Party BC’s heirs successor or custodians only custodian partially perform performing or refuse refusing to perform their the payment obligations obligation under the Transaction Documents;Exclusive Business Cooperation Agreement; and 7.1.11 Any other circumstance where 7.1.9 The applicable laws prohibiting the Pledgers cannot or possibly cannot Pledgor’s exercise its rights over the Pledgeof Pledge under this Agreement. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor and Party C shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within twenty (20) days after the Pledgee and /or Party C delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgor to immediately perform their due obligations under the Transaction Documents and/or dispose of exercise the Pledge in accordance with the provisions of Section 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to fully and timely fulfill any obligations liabilities under the Transaction Documents and/or this Business Cooperation Agreement, including without limitation failure to pay in full any of the consulting and service fees payable under the Business Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by Pledgor in Section Article 5 of this Agreement contains material misrepresentations or errors, and/or Pledgor violates any of the Pledgers violate any warranty warranties in Section Article 5 of this Agreement; 7.1.3 The Pledgers and Pledgor or Party C fail to complete the registration has committed a material breach of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision provisions of this Agreement; 7.1.5 7.1.4 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent;; and 7.1.5 The successor or custodian of Party C is capable of only partially perform or refuses to perform the payment obligations under the Business Cooperation Agreement. 7.1.6 The Pledgers (i) are required to repay Any of Pledgor’s own loans, guarantees, indemnifications, promises or perform in advance or (ii) fails to repay or perform upon maturity any other debt obligations owed liabilities to any third party such as loan, guarantee, indemnification and promise;or parties (1) become subject to a demand of early repayment or performance due to default on the part of the Pledgor; or (2) become due but are not capable of being repaid or performed in a timely manner. 7.1.7 Any government approvalAdverse changes in properties owned by the Pledgor, license, permit or authorization which lead the Pledgee to believe that renders this Agreement enforceable, lawful and valid is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ Pledgor’s ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse to perform their payment obligations under the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers cannot or possibly cannot exercise its rights over the Pledgethis Agreement has been substantially affected. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within twenty (20) days after the Pledgee delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgor to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach F fails to fully and timely fulfill any obligations liabilities under the Transaction Documents and/or this Business Cooperation Agreement or the Framework Agreement, including without limitation failure to pay in full any of the consulting and service fees payable under the Business Cooperation Agreement or breaches any other obligations of Party F thereunder; 7.1.2 The Pledgers have serious misstatement Pledgors or mistake in Party F has committed a material breach of any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 provisions of this Agreement; 7.1.3 The Pledgers Pledgors and Party C F fail to register the Pledge in the shareholders’ register of Party F or fail to complete the registration Registration of equity pledge with the registration authority Pledge stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers Pledgors transfer or intend purport to transfer or surrender abandon the Equity Interest pledged or assign the Equity Interest pledged without the written consent of Pledgee’s written consent;; and 7.1.6 7.1.5 The Pledgers (i) are required to repay successor or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid custodian of Party F is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment capable of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform performing or refuse to perform their the payment obligations under the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers cannot or possibly cannot exercise its rights over the PledgeBusiness Cooperation Agreement. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgors shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within twenty (20) working days after Pledgee delivers a notice to Pledgors requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgors in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgors to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to pay in full any obligations of the consulting and service fees payable under the Transaction Documents and/or this AgreementBusiness Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by Pledgor in Section Article 5 of this Agreement contains material misrepresentations or errors, and/or Pledgor violates any of the Pledgers violate any warranty warranties in Section Article 5 of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to complete register the registration Pledge in the shareholders’ register of equity pledge with the registration authority Party C stipulated in accordance with Section 3.1.Section; 7.1.4 The Pledgers and Pledgor or Party C violate breach any provision provisions of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay Any of Pledgor’s own loans, guarantees, indemnifications, promises or perform in advance or (ii) fails to repay or perform upon maturity any other debt obligations owed liabilities to any third party such as loan, guarantee, indemnification and promiseor parties (1) become subject to a demand of early repayment or performance due to default on the part of Pledgor; or (2) become due but are not capable of being repaid or performed in a timely manner; 7.1.7 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 The enactment promulgation of governing applicable laws renders this Agreement unlawful illegal or makes the Pledgers unable renders it impossible for Pledgor to continue performing to perform its obligations hereunderunder this Agreement; 7.1.9 The Pledgers’ assets experience negative change Adverse changes in properties owned by Pledgor, which lead Pledgee to the extent believe that affects the Pledgers’ that Pledgor’s ability to perform its obligations hereunderunder this Agreement has been affected; 7.1.10 The successor or custodian of Party B’s heirs or custodians C is capable of only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents;Business Cooperation Agreement; and 7.1.11 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C to thereafter and demand that Pledgor immediately perform their pay all outstanding payments due obligations under the Transaction Documents Business Cooperation Agreement and all other payments due to Pledgee, and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 6.1 The following circumstances shall be deemed Event of Default: 7.1.1 6.1.1 The Pledgers and/or Pledgor or Party B breach C violates its representations, warranties or promises under this Agreement (including making inaccurate, incomplete or inaccurate representations), or fails to perform any of its obligations under this Agreement on time. 6.1.2 The Pledgor or Party C violates its representations, warranties or promises under the related transaction documents (including making inaccurate, incomplete or inaccurate representations), or fails to perform any of its obligations under the Transaction Documents and/or related transaction documents on time. 6.1.3 The promulgation of applicable laws renders this Agreement illegal or renders it impossible for Pledgor to continue to perform its obligations under this Agreement; 7.1.2 The Pledgers have serious misstatement or mistake in any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 of this Agreement; 7.1.3 The Pledgers and Party C fail to complete the registration of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly stipulated in Section 6.1.1, the Pledgers transfer or intend to transfer or surrender the Equity Interest or assign the Equity Interest without the Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 6.1.4 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 The enactment 6.1.5 Adverse changes in properties owned by Pledgor (decrease of governing laws renders this Agreement unlawful asset value or makes the Pledgers unable increase of liabilities), which lead Pledgee to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent believe that affects the Pledgers’ Pledgor’s ability to perform its obligations hereunderunder this Agreement has been affected; 7.1.10 6.1.6 Any changes in shareholders of Pledgor and/or Party B’s heirs or custodians only partially perform or refuse to perform their payment obligations under C without the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers cannot or possibly cannot exercise its rights over the Pledgeprior written consent of Pledgee. 7.2 6.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.16.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 6.3 Unless an Event of Default set forth in this Section 7.1 6.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within 20 days (or such later date may be fixed by the parties) after the Pledgee sent notice to the Pledgor requiring an amendment to such defaults, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding thereafter and demand the Pledgers and/or Party C right to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with Section 8 the provisions of Article 7 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to fully and timely fulfill any obligations liabilities under the Transaction Documents and/or this AgreementControl Agreements, including without limitation failure to pay in full any of the consulting and service fees payable under the Control Agreements or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement Pledgor or mistake in Party C has committed a material breach of any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 provisions of this Agreement; 7.1.3 The Pledgers and Party C fail Except for the performance of the Equity Option Agreement, Pledgor transfers or purports to complete transfer or abandons the registration Equity Interest pledged or assigns the Equity Interest pledged without the written consent of equity pledge with the registration authority in accordance with Section 3.1.Pledgee; and 7.1.4 The Pledgers and successor or custodian of Party C violate any provision is capable of this Agreement;only partially performing or refusing to perform the payment obligations under the Control Agreements. 7.1.5 Except otherwise clearly stipulated in Section 6.1.1, the Pledgers transfer or intend to transfer or surrender the Equity Interest or assign the Equity Interest without the Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity occurrence of any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative adverse change to the extent that affects assets or property of the Pledgers’ Pledgor, which in Pledgee’s determination, may impact the ability of the Pledgor to perform its obligations hereunder;. 7.1.10 Party B’s heirs or custodians only partially perform or refuse to perform their payment obligations 7.1.6 The occurrence of any other circumstances under which the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers canPledgee is not or possibly canmay not able to exercise its rights over hereunder in accordance with the Pledgeapplicable law. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to Pledgee's satisfaction within twenty (20) days after the Pledgee’s satisfactionPledgee delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with the provisions of Section 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B Pledgor’s any breach to any obligations under the Transaction Documents and/or this Agreement. 7.1.2 Party C’s any breach to any obligations under the Transaction Documents and/or this Agreement. 7.1.3 Any of Pledgor’s own loans, guarantees, indemnifications, promises or other debt liabilities exceeding RMB 300,000 to any third party or parties (1) becoming subject to a demand of early repayment or performance due to the default of Pledgor; or (2) becoming due but are not capable of being repaid or performed in a timely manner, which lead Pledgee to reasonably believe that that Pledgor’s ability to perform its obligations under this Agreement has been affected; 7.1.2 The Pledgers have serious misstatement or mistake in any statement or warranty made in Section 5 of 7.1.4 Pledgor’s unable to pay his debt exceeding RMB 300,000 that cause Pledgee to reasonably believe that the Pledgor’s ability to perform its obligations under this Agreement and/or has been affected; 7.1.5 The applicable laws rendering this Agreement illegal or `rendering the Pledgers violate any warranty in Section 5 of Pledgor not to continue to perform its obligations under this Agreement; 7.1.3 The Pledgers and Party C fail to complete the registration of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly stipulated in Section 6.1.1, the Pledgers transfer or intend to transfer or surrender the Equity Interest or assign the Equity Interest without the Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders of government agencies to legalize or give effective to this Agreement enforceableAgreement, lawful and valid is being withdrawn, terminated, invalid invalidated or substantially changedsubstantively revised; 7.1.8 The enactment of governing laws renders this Agreement unlawful or makes the Pledgers unable 7.1.7 Any material adverse changes to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change Pledgor’s properties, which cause Pledgee to the extent reasonably believe that affects the Pledgers’ Pledgor’s ability to perform its obligations hereunderunder the Agreement has been adversely affected; 7.1.10 7.1.8 Party BC’s heirs successor or custodians only custodian partially perform performing or refuse refusing to perform their the payment obligations obligation under the Transaction Documents;Exclusive Business Cooperation Agreement; and 7.1.11 Any other circumstance where 7.1.9 The applicable laws prohibiting the Pledgers cannot or possibly cannot Pledgor’s exercise its rights over the Pledgeof Pledge under this Agreement. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor and Party C shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within twenty (20) days after the Pledgee and /or Party C delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgor to immediately perform their due obligations under the Transaction Documents and/or dispose of exercise the Pledge in accordance with the provisions of Section 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to pay in full any obligations of the consulting and service fees and license fees payable under the Transaction Documents and/or this AgreementPrincipal Agreements or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by Pledgor in Section Article 5 of this Agreement contains material misrepresentations or errors, and/or Pledgor violates any of the Pledgers violate any warranty warranties in Section Article 5 of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to complete register the registration Pledge in the shareholders’ register of equity pledge with the registration authority Party C stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers Pledgor and Party C violate breach any provision provisions of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay Any of Pledgor’s own loans, guarantees, indemnifications, promises or perform in advance or (ii) fails to repay or perform upon maturity any other debt obligations owed liabilities to any third party such as loan, guarantee, indemnification and promiseor parties (1) become subject to a demand of early repayment or performance due to default on the part of Pledgor; or (2) become due but are not capable of being repaid or performed in a timely manner; 7.1.7 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 The enactment promulgation of governing applicable laws renders this Agreement unlawful illegal or makes the Pledgers unable renders it impossible for Pledgor to continue performing to perform its obligations hereunderunder this Agreement; 7.1.9 The Pledgers’ assets experience negative change Adverse changes in properties owned by Pledgor, which lead Pledgee to the extent believe that affects the Pledgers’ that Pledgor’s ability to perform its obligations hereunderunder this Agreement has been affected; 7.1.10 The successor or custodian of Party B’s heirs or custodians C is capable of only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents;Principal Agreements; and 7.1.11 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C to thereafter and demand that Pledgor immediately perform their pay all outstanding payments due obligations under the Transaction Documents Principal Agreements and all other payments due to Pledgee, and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to fully and timely fulfill any obligations liabilities under the Transaction Documents and/or this AgreementControl Agreements, including without limitation failure to pay in full any of the consulting and service fees payable under the Control Agreements or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement Pledgor or mistake in Party C has committed a material breach of any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 provisions of this Agreement; 7.1.3 The Pledgers and Party C fail Except for the performance of the Share Disposal Agreement, Pledgor transfers or purports to complete transfer or abandons the registration Equity Interest pledged or assigns the Equity Interest pledged without the written consent of equity pledge with the registration authority in accordance with Section 3.1.Pledgee; and 7.1.4 The Pledgers and successor or custodian of Party C violate any provision is capable of this Agreement;only partially performing or refusing to perform the payment obligations under the Control Agreements. 7.1.5 Except otherwise clearly stipulated in Section 6.1.1, the Pledgers transfer or intend to transfer or surrender the Equity Interest or assign the Equity Interest without the Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity occurrence of any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative adverse change to the extent that affects assets or property of the Pledgers’ Pledgor, which in Pledgee’s determination, may impact the ability of the Pledgor to perform its obligations hereunder;. 7.1.10 Party B’s heirs or custodians only partially perform or refuse to perform their payment obligations 7.1.6 The occurrence of any other circumstances under which the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers canPledgee is not or possibly canmay not able to exercise its rights over hereunder in accordance with the Pledgeapplicable law. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within twenty (20) days after the Pledgee delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with the provisions of Section 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or (1) Party B breach C fails to fully and timely fulfill any obligations liabilities under the Transaction Documents and/or this AgreementControl Agreements, including without limitation failure to pay in full any of the consulting and service fees payable under the Control Agreements or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement (2) Pledgor or mistake in Party C has committed a material breach of any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 provisions of this Agreement; 7.1.3 The Pledgers and Party C fail to complete (3) Except for the registration performance of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision of this Equity Option Agreement; 7.1.5 Except otherwise clearly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent;; and 7.1.6 (4) The Pledgers successor or custodian of Party C is capable of only partially performing or refusing to perform the payment obligations under the Control Agreements. (i5) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity The occurrence of any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative adverse change to the extent that affects assets or property of the Pledgers’ Pledgor, which in Pledgee’s determination, may impact the ability of the Pledgor to perform its obligations hereunder;. 7.1.10 Party B’s heirs or custodians only partially perform or refuse to perform their payment obligations (6) The occurrence of any other circumstances under which the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers canPledgee is not or possibly canmay not able to exercise its rights over hereunder in accordance with the Pledgeapplicable law. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within twenty (20) days after the Pledgee delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with the provisions of Section 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to pay in full any obligations of the consulting and service fees payable under the Transaction Documents and/or this AgreementBusiness Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by Pledgor in Section Article 5 of this Agreement contains material misrepresentations or errors, and/or Pledgor violates any of the Pledgers violate any warranty warranties in Section Article 5 of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to complete register the registration Pledge in the shareholders' register of equity pledge with the registration authority Party C stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers and Pledgor or Party C violate breaches any provision provisions of this Agreement;; Each person of Pledgor shall bear the joint and several liabilities as to the obligations of other persons of Pledgor thereunder. 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay Any of Pledgor's own loans, guarantees, indemnifications, promises or perform in advance or (ii) fails to repay or perform upon maturity any other debt obligations owed liabilities to any third party such as loan, guarantee, indemnification and promiseor parties (1) become subject to a demand of early repayment or performance due to default on the part of Pledgor; or (2) become due but are not capable of being repaid or performed in a timely manner; 7.1.7 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 The enactment promulgation of governing applicable laws renders this Agreement unlawful illegal or makes the Pledgers unable renders it impossible for Pledgor to continue performing to perform its obligations hereunderunder this Agreement; 7.1.9 The Pledgers’ assets experience negative change Adverse changes in properties owned by Pledgor, which lead Pledgee to the extent believe that affects the Pledgers’ that Pledgor's ability to perform its obligations hereunderunder this Agreement has been affected; 7.1.10 The successor or custodian of Party B’s heirs or custodians C is capable of only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents;Business Cooperation Agreement; and 7.1.11 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s 's satisfaction, the Pledgee may issue a Notice of Default to the Pledgers Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C to thereafter and demand that Pledgor immediately perform their pay all outstanding payments due obligations under the Transaction Documents Business Cooperation Agreement and all other payments due to Pledgee, and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to pay in full any obligations of the consulting and service fees payable under the Transaction Documents and/or this AgreementBusiness Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by Pledgor in Section Article 5 of this Agreement contains material misrepresentations or errors, and/or Pledgor violates any of the Pledgers violate any warranty warranties in Section Article 5 of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to complete register the registration Pledge in the shareholders’ register of equity pledge with the registration authority Party C stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers Pledgor and Party C violate breach any provision provisions of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay Any of Pledgor’s own loans, guarantees, indemnifications, promises or perform in advance or (ii) fails to repay or perform upon maturity any other debt obligations owed liabilities to any third party such as loan, guarantee, indemnification and promiseor parties (1) become subject to a demand of early repayment or performance due to default on the part of Pledgor; or (2) become due but are not capable of being repaid or performed in a timely manner; 7.1.7 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 The enactment promulgation of governing applicable laws renders this Agreement unlawful illegal or makes the Pledgers unable renders it impossible for Pledgor to continue performing to perform its obligations hereunderunder this Agreement; 7.1.9 The Pledgers’ assets experience negative change Adverse changes in properties owned by Pledgor, which lead Pledgee to the extent believe that affects the Pledgers’ Pledgor’s ability to perform its obligations hereunderunder this Agreement has been affected; 7.1.10 The successor or custodian of Party B’s heirs or custodians C is capable of only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents;Business Cooperation Agreement; and 7.1.11 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C to thereafter and demand that Pledgor immediately perform their pay all outstanding payments due obligations under the Transaction Documents Business Cooperation Agreement and all other payments due to Pledgee, and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to fully and timely fulfill any obligations liabilities under the Transaction Documents and/or this Business Cooperation Agreement, including without limitation failure to pay in full any of the consulting and service fees payable under the Business Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement Pledgor or mistake in Party C has committed a material breach of any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 provisions of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to register the Pledge in the shareholders’ register of Party C or fail to complete the registration Registration of equity pledge with the registration authority Pledge stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent;; and 7.1.6 7.1.5 The Pledgers (i) are required to repay successor or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid custodian of Party C is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment capable of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers cannot or possibly cannot exercise its rights over the PledgeBusiness Cooperation Agreement. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within twenty (20) working days after the Pledgee delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgor to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed as the Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to fully and timely fulfill any obligations liabilities under the Transaction Documents and/or this Business Cooperation Agreement, including without limitation failure to pay in full any of the consulting and service fees payable under the Business Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by the Pledgor in Section Article 5 of this Agreement contains material misrepresentations or errors, and/or the Pledgers violate Pledgor violates any warranty of the warranties in Section Article 5 of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to register the Pledge in the shareholders’ register of Party C or fail to complete the registration Registration of equity pledge with the registration authority Pledge stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers and Pledgor or Party C violate breach any provision provisions of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of the Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay successor or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid custodian of Party C is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment capable of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents;Business Cooperation Agreement; and 7.1.11 Any 7.1.7 Due to causes of the Pledgor or Party C, any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the PledgePledge in accordance with applicable laws. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter, demanding thereafter and demand that the Pledgers and/or Party C to Pledgor immediately perform their fulfill its obligations and pay all outstanding payments due obligations under the Transaction Documents Business Cooperation Agreement and all other payments due to the Pledgee, and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to fully and timely fulfill any obligations liabilities under the Transaction Documents and/or this Business Cooperation Agreement, including without limitation failure to pay in full any of the consulting and service fees payable under the Business Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers Pledgors or Party C have serious misstatement or mistake in committed a material breach of any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 provisions of this Agreement; 7.1.3 The Pledgers Pledgors and Party C fail to register the Pledge in the shareholders’ register of Party C, or fail to complete the registration Registration of equity pledge with the registration authority Pledge stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers Pledgors transfer or intend purport to transfer or surrender abandons the Equity Interest pledged, or assign the Equity Interest pledged without the written consent of Pledgee’s written consent;; and 7.1.6 7.1.5 The Pledgers (i) are required to repay successor or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid custodian of Party C is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment capable of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers cannot or possibly cannot exercise its rights over the PledgeBusiness Cooperation Agreement. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgors shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within twenty (20) working days after the Pledgee delivers a notice to Pledgors requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgors in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgors to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to fully and timely fulfill any obligations liabilities under the Transaction Documents and/or this Business Cooperation Agreement, including without limitation failure to pay in full any of the consulting and service fees payable under the Business Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement Pledgor or mistake in Party C has committed a material breach of any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 provisions of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to register the Pledge in the shareholders’ register of Party C or fail to complete the registration Registration of equity pledge with the registration authority Pledge stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent;; and 7.1.6 7.1.5 The Pledgers (i) are required to repay successor or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid custodian of Party C is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment capable of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers cannot or possibly cannot exercise its rights over the PledgeBusiness Cooperation Agreement. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within twenty (20) days after the Pledgee delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgor to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 6.1 The following circumstances shall be deemed Event of Default: 7.1.1 6.1.1 The Pledgers and/or Pledgor or Party B breach C violates its representations, warranties or promises under this Agreement (including making inaccurate, incomplete or inaccurate representations), or fails to perform any of its obligations under this Agreement on time. 6.1.2 The Pledgor or Party C violates its representations, warranties or promises under the related transaction documents (including making inaccurate, incomplete or inaccurate representations), or fails to perform any of its obligations under the Transaction Documents and/or related transaction documents on time. 6.1.3 The promulgation of applicable laws renders this Agreement illegal or renders it impossible for Pledgor to continue to perform its obligations under this Agreement; 7.1.2 The Pledgers have serious misstatement or mistake in any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 of this Agreement; 7.1.3 The Pledgers and Party C fail to complete the registration of equity pledge with the registration authority in accordance with Section 3.1. 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly stipulated in Section 6.1.1, the Pledgers transfer or intend to transfer or surrender the Equity Interest or assign the Equity Interest without the Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 6.1.4 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 The enactment 6.1.5 Adverse changes in properties owned by Pledgor (decrease of governing laws renders this Agreement unlawful asset value or makes the Pledgers unable increase of liabilities), which lead Pledgee to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent believe that affects the Pledgers’ Pledgor's ability to perform its obligations hereunderunder this Agreement has been affected; 7.1.10 6.1.6 Any changes in shareholders of Pledgor and/or Party B’s heirs or custodians only partially perform or refuse to perform their payment obligations under C without the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers cannot or possibly cannot exercise its rights over the Pledgeprior written consent of Pledgee. 7.2 6.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.16.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 6.3 Unless an Event of Default set forth in this Section 7.1 6.1 has been successfully resolved to Pledgee's satisfaction within 20 days (or such later date may be fixed by the Pledgee’s satisfactionparties) after the Pledgee sent notice to the Pledgor requiring an amendment to such defaults, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgor in writing at any time thereafter, demanding thereafter and demand the Pledgers and/or Party C right to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with Section 8 the provisions of Article 7 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach G fails to fully and timely fulfill any obligations liabilities under the Transaction Documents and/or this Business Cooperation Agreement, including without limitation failure to pay in full any of the consulting and service fees payable under the Business Cooperation Agreement or breaches any other obligations of Party G thereunder; 7.1.2 The Pledgers have serious misstatement Pledgors or mistake in Party G has committed a material breach of any statement or warranty made in Section 5 of this Agreement and/or the Pledgers violate any warranty in Section 5 provisions of this Agreement; 7.1.3 The Pledgers Pledgors and Party C G fail to register the Pledge in the shareholders’ register of Party G or fail to complete the registration Registration of equity pledge with the registration authority Pledge stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers and Party C violate any provision of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers Pledgors transfer or intend purport to transfer or surrender abandon the Equity Interest pledged or assign the Equity Interest pledged without the written consent of Pledgee’s written consent;; and 7.1.6 7.1.5 The Pledgers (i) are required to repay successor or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization that renders this Agreement enforceable, lawful and valid custodian of Party G is withdrawn, terminated, invalid or substantially changed; 7.1.8 The enactment capable of governing laws renders this Agreement unlawful or makes the Pledgers unable to continue performing its obligations hereunder; 7.1.9 The Pledgers’ assets experience negative change to the extent that affects the Pledgers’ ability to perform its obligations hereunder; 7.1.10 Party B’s heirs or custodians only partially perform performing or refuse to perform their the payment obligations under the Transaction Documents; 7.1.11 Any other circumstance where the Pledgers cannot or possibly cannot exercise its rights over the PledgeBusiness Cooperation Agreement. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgors shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfactionsatisfaction within twenty (20) working days after Pledgee delivers a notice to Pledgors requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgers upon the occurrence of the Event of Default or Pledgors in writing at any time thereafter, demanding the Pledgers and/or Party C Pledgors to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to pay in full any obligations of the consulting and service fees payable under the Transaction Documents and/or this AgreementNew Business Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by Pledgor in Section Article 5 of this Agreement contains material misrepresentations or errors, and/or Pledgor violates any of the Pledgers violate any warranty warranties in Section Article 5 of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to complete register the registration Pledge in the shareholders’ register of equity pledge with the registration authority Party C stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers and Pledgor or Party C violate breach any provision provisions of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent;; Strictly Confidential 7.1.6 The Pledgers (i) are required to repay Any of Pledgor’s own loans, guarantees, indemnifications, promises or perform in advance or (ii) fails to repay or perform upon maturity any other debt obligations owed liabilities to any third party such as loan, guarantee, indemnification and promiseor parties (1) become subject to a demand of early repayment or performance due to default on the part of Pledgor; or (2) become due but are not capable of being repaid or performed in a timely manner; 7.1.7 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 The enactment promulgation of governing applicable laws renders this Agreement unlawful illegal or makes the Pledgers unable renders it impossible for Pledgor to continue performing to perform its obligations hereunderunder this Agreement; 7.1.9 The Pledgers’ assets experience negative change Adverse changes in properties owned by Pledgor, which lead Pledgee to the extent believe that affects the Pledgers’ that Pledgor’s ability to perform its obligations hereunderunder this Agreement has been affected; 7.1.10 The successor or custodian of Party B’s heirs or custodians C is capable of only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents;New Business Cooperation Agreement; and 7.1.11 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C to thereafter and demand that Pledgor immediately perform their pay all outstanding payments due obligations under the Transaction Documents New Business Cooperation Agreement and all other payments due to Pledgee, and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to pay in full any obligations of the consulting and service fees payable under the Transaction Documents and/or this AgreementBusiness Cooperation Agreement or causes any loss to Pledgee due to breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by Pledgor in Section 5 of this Agreement contains material misrepresentations or errors, and/or Pledgor violates any of the Pledgers violate any warranty warranties in Section 5 of this Agreement; 7.1.3 The Pledgers and Party C fail to complete register the registration Pledge in the shareholders’ register of equity pledge with the registration authority Party C stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers Pledgor and Party C violate breach any provision provisions of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay or perform in advance or (ii) fails to repay or perform upon maturity any debt obligations owed to any third party such as loan, guarantee, indemnification and promise; 7.1.7 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 7.1.7 The enactment promulgation of governing applicable laws renders this Agreement unlawful illegal or makes the Pledgers unable renders it impossible for Pledgor to continue performing to perform its obligations hereunderunder this Agreement; 7.1.9 The Pledgers’ assets experience negative change 7.1.8 Adverse changes in the Equity Interest pledged by Pledgor, which lead Pledgee to the extent reasonably believe that affects the Pledgers’ Pledgor’s ability to perform its obligations hereunderunder this Agreement has been affected; 7.1.10 7.1.9 The successor or custodian of Party B’s heirs or custodians C is capable of only partially perform performing or refuse refuses to perform their the payment obligations under the Transaction Documents;Business Cooperation Agreement; and 7.1.11 7.1.10 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers defaulting Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C thereafter and demand to immediately perform their due obligations under the Transaction Documents and/or dispose of the Pledge in accordance with the provisions of Section 8 of this Agreement.

Event of Breach. 7.1 The following circumstances shall be deemed Event of Default: 7.1.1 The Pledgers and/or Party B breach C fails to pay in full any obligations of the consulting and service fees payable under the Transaction Documents and/or this AgreementBusiness Cooperation Agreement or breaches any other obligations of Party C thereunder; 7.1.2 The Pledgers have serious misstatement or mistake in any statement Any representation or warranty made by Pledgor in Section Article 5 of this Agreement contains material misrepresentations or errors, and/or Pledgor violates any of the Pledgers violate any warranty warranties in Section Article 5 of this Agreement; 7.1.3 The Pledgers Pledgor and Party C fail to complete register the registration Pledge in the shareholders’ register of equity pledge with the registration authority Party C stipulated in accordance with Section 3.1.; 7.1.4 The Pledgers Pledgor and Party C violate breach any provision provisions of this Agreement; 7.1.5 Except otherwise clearly as expressly stipulated in Section 6.1.1, the Pledgers transfer Pledgor transfers or intend purports to transfer or surrender abandons the Equity Interest pledged or assign assigns the Equity Interest pledged without the written consent of Pledgee’s written consent; 7.1.6 The Pledgers (i) are required to repay Any of Pledgor’s own loans, guarantees, indemnifications, promises or perform in advance or (ii) fails to repay or perform upon maturity any other debt obligations owed liabilities to any third party such as loan, guarantee, indemnification and promiseor parties (1) become subject to a demand of early repayment or performance due to default on the part of Pledgor; or (2) become due but are not capable of being repaid or performed in a timely manner; 7.1.7 Any government approval, license, permit or authorization of government agencies that renders makes this Agreement enforceable, lawful legal and valid effective is withdrawn, terminated, invalid invalidated or substantially substantively changed; 7.1.8 The enactment promulgation of governing applicable laws renders this Agreement unlawful illegal or makes the Pledgers unable renders it impossible for Pledgor to continue performing to perform its obligations hereunderunder this Agreement; 7.1.9 The Pledgers’ assets experience negative change Adverse changes in properties owned by Pledgor, which lead Pledgee to the extent believe that affects the Pledgers’ that Pledgor’s ability to perform its obligations hereunderunder this Agreement has been affected; 7.1.10 The successor or custodian of Party B’s heirs or custodians C is capable of only partially perform or refuse refuses to perform their the payment obligations under the Transaction Documents;Business Cooperation Agreement; and 7.1.11 Any other circumstance circumstances occur where the Pledgers cannot Pledgee is or possibly cannot may become unable to exercise its rights over right with respect to the Pledge. 7.2 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, the Pledgers Pledgor shall immediately notify the Pledgee in writing accordingly. 7.3 Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to the Pledgee’s satisfaction, the Pledgee may issue a Notice of Default to the Pledgers Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter, demanding the Pledgers and/or Party C to thereafter and demand that Pledgor immediately perform their pay all outstanding payments due obligations under the Transaction Documents Business Cooperation Agreement and all other payments due to Pledgee, and/or dispose of the Pledge in accordance with Section the provisions of Article 8 of this Agreement.