Common use of Exercise of Pledge Clause in Contracts

Exercise of Pledge. 8.1 在控制协议所述的咨询服务费等费用未全部偿付前，未经质权人书面同意，出质人不得转让其拥有的丙方股权。 Prior to the full payment of the consulting and service fees described in the Control Agreements, without the Pledgee's written consent, Pledgor shall not assign the Equity Interest in Party C. 8.2 在质权人行使其质押权利时，质权人可以向出质人发出书面通知。 Pledgee may issue a written notice to Pledgor when exercising the Pledge. 8.3 受限于第 7.3 条的规定，质权人可在按第 7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益。 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 7.3. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.4 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利。 In the event of default, Pledgee is entitled to dispose of the Equity Interest in accordance with applicable PRC laws. Only to the extent permitted under applicable PRC laws, Pledgee has no obligation to account to Pledgor for proceeds of disposition of the Equity Interest, and Pledgor hereby waives any rights it may have to demand any such accounting from Pledgee. 8.5 质权人依照本合同处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权。 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

Exercise of Pledge. 8.1 在控制协议所述的咨询服务费等费用未全部偿付前，未经质权人书面同意，出质人不得转让其拥有的丙方股权。 Prior to the full payment of the consulting and service fees described in the Control Agreements, without the Pledgee's ’s written consent, Pledgor shall not assign the Equity Interest in Party C. 8.2 在质权人行使其质押权利时，质权人可以向出质人发出书面通知。 Pledgee may issue a written notice to Pledgor when exercising the Pledge. 8.3 受限于第 7.3 条的规定，质权人可在按第 7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时， 出质人即不再拥有任何与股权有关的权利和利益。 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 7.3. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.4 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质 押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利。 In the event of default, Pledgee is entitled to dispose of the Equity Interest in accordance with applicable PRC laws. Only to the extent permitted under applicable PRC laws, Pledgee has no obligation to account to Pledgor for proceeds of disposition of the Equity Interest, and Pledgor hereby waives any rights it may have to demand any such accounting from Pledgee. 8.5 质权人依照本合同处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权质权人依照本协议处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权。 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

Exercise of Pledge. 8.1 在控制协议所述的咨询服务费等费用未全部偿付前，未经质权人书面同意，出质人不得转让其拥有的丙方股权在业务合作协议所述的咨询服务费等费用未全部偿还前，未经质权人书面同意，出质人不得转让本质权和其拥有的丙方股权。 Prior to the full payment of the consulting and service fees described in the Control AgreementsBusiness Cooperation Agreement, without the Pledgee's written consent, Pledgor shall not assign the Pledge or the Equity Interest in Party C. 8.2 在质权人行使其质押权利时，质权人可以向出质人发出书面通知在质权人行使其质押权利时，质权人可以向出质人发出书面违约通知。 Pledgee may issue a written notice Notice of Default to Pledgor when exercising the Pledge. 8.3 受限于第 7.3 条的规定，质权人可在按第 7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益受限于第7.3条的规定，质权人可在按第7.2条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益。 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 7.37.2. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.4 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。仅在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利；同样，出质人对质权人在该质押股权处置后的亏空也不承担任何义务。 In the event of default, Pledgee is entitled to dispose of the Equity Interest pledged in accordance with applicable PRC laws. Only to the extent permitted under applicable PRC laws, Pledgee has no obligation to account to Pledgor for proceeds of disposition of the Equity Interest, and Pledgor hereby waives any rights it may have to demand any such accounting from Pledgee; Likewise, in such circumstance Pledgor shall have no obligation to Pledgee for any deficiency remaining after such disposition of the Equity Interest pledged. 8.5 质权人依照本合同处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权质权人依照本协议处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权。 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

Exercise of Pledge. 8.1 在控制协议所述的咨询服务费等费用未全部偿付前，未经质权人书面同意，出质人不得转让其拥有的丙方股权。 Prior to the full payment of the consulting and service fees described in the Control Agreements, without the Pledgee's ’s written consent, Pledgor shall not assign the Equity Interest in Party C. 8.2 在质权人行使其质押权利时，质权人可以向出质人发出书面通知。 Pledgee may issue a written notice to Pledgor when exercising the Pledge. 8.3 受限于第 7.3 条的规定，质权人可在按第 7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益条发出违约通知之后的 任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益。 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 7.3. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.4 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质 押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置 所得的权利。 In the event of default, Pledgee is entitled to dispose of the Equity Interest in accordance with applicable PRC laws. Only to the extent permitted under applicable PRC laws, Pledgee has no obligation to account to Pledgor for proceeds of disposition of the Equity Interest, and Pledgor hereby waives any rights it may have to demand any such accounting from Pledgee. 8.5 质权人依照本合同处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权质权人依照本协议处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权。 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

Exercise of Pledge. 8.1 在控制协议所述的咨询服务费等费用未全部偿付前，未经质权人书面同意，出质人不得转让其拥有的丙方股权。 Prior to the full payment of the consulting and service fees described in the Control Agreements, without the Pledgee's written consent, Pledgor shall not assign the Equity Interest in Party C. 8.2 在质权人行使其质押权利时，质权人可以向出质人发出书面通知。 Pledgee may issue a written notice to Pledgor when exercising the Pledge. 8.3 受限于第 7.3 条的规定，质权人可在按第 7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益受限于第7.3条的规定，质权人可在按第7.3条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益。 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 7.3. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.4 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利。 In the event of default, Pledgee is entitled to dispose of the Equity Interest in accordance with applicable PRC laws. Only to the extent permitted under applicable PRC laws, Pledgee has no obligation to account to Pledgor for proceeds of disposition of the Equity Interest, and Pledgor hereby waives any rights it may have to demand any such accounting from Pledgee. 8.5 质权人依照本合同处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权。 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

Exercise of Pledge. 8.1 在控制协议所述的咨询服务费等费用未全部偿付前，未经质权人书面同意，出质人不得转让其拥有的丙方股权。 Prior to the full payment of the consulting and service fees described in the Control Agreements, without the Pledgee's written consent, Pledgor shall not assign the Equity Interest in Party C. 8.2 在质权人行使其质押权利时，质权人可以向出质人发出书面通知4.1 在质权人行使其质押权利时，质权人可以向出质人发出书面违约通知。 Pledgee may issue a written notice of default to Pledgor Pledgors when exercising the Pledge. 8.3 受限于第 7.3 条的规定，质权人可在按第 7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益4.2 质权人可在发出违约通知的同时或在发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益。 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce Pledge at the Pledge time when, or at any time after after, the issuance of the Notice notice of Default in accordance with Section 7.3default. Once When Pledgee elects decides to enforce exercise the right of Pledge, Pledgor Pledgors shall cease immediately be clear of any right and interest related to be entitled to any rights or interests associated with the Equity Interestsuch equity interests. 8.4 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利4.3 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权，仅在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利。同样，出质人对质权人在该质押股权处置后的亏空也不承担任何义务。 In the event case default occurs, pursuant to related laws of defaultChina, Pledgee is entitled to dispose of the Equity Interest Pledged Object in accordance with applicable PRC laws. Only legal procedures, subject to the extent permitted under applicable PRC lawscriteria allowed by the laws of China, Pledgee has no shall not give the earnings from disposure of the Pledged Object to Pledgors; Pledgors hereby waive any possible right to require any earnings from disposure by Pledgee. As well, Plegdors shall not undertake any obligation to account to Pledgor Pledgee for proceeds the shortfall after the disposure of disposition of the Equity Interest, and Pledgor hereby waives any rights it may have to demand any such accounting from PledgeePledged Object. 8.5 质权人依照本合同处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权4.4 质权人依照本合同处分质权时，出质人和丁方应予以必要的协助，以使质权人实现其质权。 When Pledgors and Party D shall offer necessary assistance when Pledgee disposes of the is exercising Pledge in accordance with pursuant to this Agreement, Pledgor and Party C shall provide necessary assistance thus to enable Pledgee to enforce facilitate exercising the Pledge in accordance with this Agreementby Pledgee.

Exercise of Pledge. 8.1 在控制协议所述的咨询服务费等费用未全部偿付前，未经质权人书面同意，出质人不得转让其拥有的丙方股权在业务合作协议所述的咨询服务费等费用未全部偿还前，未经质权人书面同意，出质人不得转让本质权和其拥有的丙方股权。 Prior to the full payment of the consulting and service fees described in the Control AgreementsBusiness Cooperation Agreement, without the Pledgee's written consent, Pledgor shall not assign the Pledge or the Equity Interest in Party C. 8.2 在质权人行使其质押权利时，质权人可以向出质人发出书面通知在质押权人行使其质押权利时，质押权人可以向质押人发出书面违约通知。 Pledgee may issue a written notice Notice of Default to Pledgor when exercising the Pledge. 8.3 受限于第 7.3 条的规定，质权人可在按第 7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益受限于第7.3条的规定，质权人可在按第7.2条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益。 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 7.37.2. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.4 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。仅在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利；同样，出质人对质权人在该质押股权处置后的亏空也不承担任何义务。 In the event of default, Pledgee is entitled to dispose of the Equity Interest pledged in accordance with applicable PRC laws. Only to the extent permitted under applicable PRC laws, Pledgee has no obligation to account to Pledgor for proceeds of disposition of the Equity Interest, and Pledgor hereby waives any rights it may have to demand any such accounting from Pledgee; Likewise, in such circumstance Pledgor shall have no obligation to Pledgee for any deficiency remaining after such disposition of the Equity Interest pledged. 8.5 质权人依照本合同处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权。 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

Exercise of Pledge. 8.1 在控制协议所述的咨询服务费等费用未全部偿付前，未经质权人书面同意，出质人不得转让其拥有的丙方股权在业务合作协议所述的咨询服务费等费用未全部偿还前，未经质权人书面同意，出质人不得转让本质权和其拥有的丙方股权。 Prior to the full payment of the consulting and service fees described in the Control AgreementsBusiness Cooperation Agreement, without the Pledgee's written consent, Pledgor shall not assign the Pledge or the Equity Interest in Party C. 8.2 在质权人行使其质押权利时，质权人可以向出质人发出书面通知在质权人行使其质押权利时，质权人可以向出质人发出书面违约通知。 Pledgee may issue a written notice Notice of Default to Pledgor when exercising the Pledge. 8.3 受限于第 7.3 条的规定，质权人可在按第 7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益受限于第7.3条的规定，质权人可在按第7.2条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益。 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 7.37.2. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.4 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。仅在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利；同样，出质人对质权人在该质押股权处置后的亏空也不承担任何义务。 秘密文件 Strictly Confidential In the event of default, Pledgee is entitled to dispose of the Equity Interest pledged in accordance with applicable PRC laws. Only to the extent permitted under applicable PRC laws, Pledgee has no obligation to account to Pledgor for proceeds of disposition of the Equity Interest, and Pledgor hereby waives any rights it may have to demand any such accounting from Pledgee; Likewise, in such circumstance Pledgor shall have no obligation to Pledgee for any deficiency remaining after such disposition of the Equity Interest pledged. 8.5 质权人依照本合同处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权质权人依照本协议处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权。 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

Exercise of Pledge. 8.1 在控制协议所述的咨询服务费等费用未全部偿付前，未经质权人书面同意，出质人不得转让其拥有的丙方股权。 Prior to the full payment of the consulting and service fees described in the Control Agreements, without the Pledgee's written consent, Pledgor shall not assign the Equity Interest in Party C. 8.2 在质权人行使其质押权利时，质权人可以向出质人发出书面通知。 Pledgee may issue a written notice to Pledgor when exercising the Pledge. 8.3 受限于第 7.3 条的规定，质权人可在按第 7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益。 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 7.3. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.4 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利。 In the event of default, Pledgee is entitled to dispose of the Equity Interest in accordance with applicable PRC laws. Only to the extent permitted under applicable PRC laws, Pledgee has no obligation to account to Pledgor for proceeds of disposition of the Equity Interest, and Pledgor hereby waives any rights it may have to demand any such accounting from Pledgee. 8.5 质权人依照本合同处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权。 When Pledgee Xxxxxxx disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

Exercise of Pledge. 8.1 在控制协议所述的咨询服务费等费用未全部偿付前，未经质权人书面同意，出质人不得转让其拥有的丙方股权在业务合作协议所述的咨询服务费等费用未全部偿还前，未经质权人书面同意，出质人不得转让本质权和其拥有的丙方股权。 Prior to the full payment of the consulting and service fees described in the Control AgreementsBusiness Cooperation Agreement, without the Pledgee's written consent, Pledgor shall not assign the Pledge or the Equity Interest in Party C. 8.2 在质权人行使其质押权利时，质权人可以向出质人发出书面通知在质权人行使其质押权利时，质权人可以向出质人发出书面违约通知。 Pledgee may issue a written notice Notice of Default to Pledgor when exercising the Pledge. 8.3 受限于第 7.3 条的规定，质权人可在按第 7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益受限于第7.3条的规定，质权人可在按第8.2条发出违约通知的同时或在发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益。 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at the time when, or at any time after after, the issuance of the Notice of Default in accordance with Section 7.38.2. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.4 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。仅在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利；同样，出质人对质权人在该质押股权处置后的亏空也不承担任何义务。 In the event of default, Pledgee is entitled to dispose of the Equity Interest pledged in accordance with applicable PRC laws. Only to the extent permitted under applicable PRC laws, Pledgee has no obligation to account to Pledgor for proceeds of disposition of the Equity Interest, and Pledgor hereby waives any rights it may have to demand any such accounting from Pledgee.; Likewise, in such circumstance Pledgor shall have no obligation to Pledgee for any deficiency remaining after such disposition of the Equity Interest pledged. 秘密文件 Strictly Confidential 8.5 质权人依照本合同处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权质权人依照本协议处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权。 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

Exercise of Pledge. 8.1 在控制协议所述的咨询服务费等费用未全部偿付前，未经质权人书面同意，出质人不得转让其拥有的丙方股权。 Prior to the full payment of the consulting and service fees described in the Control Agreements, without the Pledgee's written consent, Pledgor shall not assign the Equity Interest in Party C. 8.2 在质权人行使其质押权利时，质权人可以向出质人发出书面通知在质权方行使其质押权利时，质权方可以向出质方发出书面违约通知。 Pledgee may issue a written notice Notice of Default to Pledgor when exercising the Pledge. 8.3 受限于第 7.3 条的规定，质权人可在按第 7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益8.2 受限于第7.3条的规定，质权方可在按第8.1条发出违约通知之后的任何时间里对质权行使处分的权利。质权方决定行使处分质权的权利时，出质方即不再拥有任何与质押股权有关的权利和利益。 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 7.38.1. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.4 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利8.3 质权方有权在根据第8.1条发出违约通知后，行使其根据中国法律、交易文件及本协议条款而享有的全部违约救济权利，包括（但不限于）以质押股权折价或以拍卖、变卖质押股权所得的价款以优先受偿。质权方对其合理行使该等权利和权力造成的任何损失不负责任。 In the event After Pledgee issues a Notice of defaultDefault Pledgee in accordance with Section 8.1, Pledgee is entitled may exercise any remedy measure under applicable PRC laws, the Transaction Documents and this Agreement, including but not limited to dispose being compensated in priority by the conversion of the Equity Pledge or from the proceeds from auction or sale of the Equity Interest. The Pledgee shall have no liability for any loss incurred by its due exercise of such rights and powers. 8.4 质权方行使质权获得的款项，应优先支付因处分质押股权而应缴的税费和向质权方履行合同义务及偿还担保债务。扣除上述款项后如有余款，质权方应将余款交还出质方或根据有关法律、法规对该款项享有权利的其他人或者向出质方所在地公证机关提存（由此所生之任何费用全部由出质方承担）；在中国法律允许的情况下，出质方应将上述款项无条件地赠予质权方或质权方指定的人。 The proceeds from exercise of the Pledge by Pledgee shall be used to pay for tax and expenses incurred by disposing of the Equity Interest and performing Contract Obligations and to pay the Secured Indebtedness prior and in accordance preference to any other payment. After the payment of the aforementioned amounts, the remaining balance shall be returned to Pledgor or any other person who has rights to such balance under applicable laws or be deposited to the local notary public office where Pledgor resides, with applicable PRC lawsall expense incurred being borne by Pledgor. Only to To the extent permitted under applicable PRC laws, Pledgor shall unconditionally give the aforementioned proceeds to Pledgee has no obligation to account to Pledgor for proceeds of disposition of the Equity Interest, and Pledgor hereby waives or any rights it may have to demand any such accounting from other person designated by Pledgee. 8.5 质权人依照本合同处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权质权方有权选择同时或先后行使其享有的任何违约救济，质权方在行使本协议项下的以质押股权折价或拍卖、变卖质押股权所得款项优先受偿的权利前，无须先行使其他违约救济。 Pledgee has the right to exercise any remedial measure available simultaneously or in any order. Pledgee may exercise the right to be compensated from the Equity Pledge in priority to the conversion of the Equity Pledge or from the proceeds from auction or sale of the Equity Interest under this Agreement, without exercising any other remedy measure first. 8.6 质权方有权以书面方式指定其律师或其他代理人行使其质权，出质方或丙方对此均不得提出异议。 Pledgee is entitled to designate an attorney or other representatives to exercise the Pledge on its behalf and Pledgor and Party C shall not raise any objection to such exercise. 8.7 质权方依照本协议处分质权时，出质方和丙方应予以必要的协助，以使质权方实现其质权。 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

Exercise of Pledge. 8.1 在控制协议所述的咨询服务费等费用未全部偿付前，未经质权人书面同意，出质人不得转让其拥有的丙方股权。 Prior to the full payment of the consulting and service fees described in the Control Agreements, without the Pledgee's written consent, Pledgor shall not assign the Equity Interest in Party C. 8.2 在质权人行使其质押权利时，质权人可以向出质人发出书面通知在质权人行使其质押权利时，质权人应向出质人发出书面违约通知。 Pledgee may shall issue a written notice Notice of Default to Pledgor when exercising it exercises the Pledge. 8.3 8.2 受限于第 7.3 条的规定，质权人可在按第 7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益8.1 条发出违约通知之后的任何时间里对质权行使处分的权利。 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 7.3. Once 8.1. 8.3 质权人有权在根据第 8.1 条发出违约通知后，行使其根据中国法律、交易文件及本协议条款而享有的全部违约救济权利，包括但不限于以质押股权折价或以拍卖、变卖质押股权所得的价款以优先受偿。质权人对其合理行使该等权利和权力造成的任何损失不负责任。 After Pledgee elects issues a Notice of Default to enforce Pledgor in accordance with Section 8.1, Pledgee may exercise any remedy measure under applicable PRC laws, the PledgeTransaction Documents and this Agreement, Pledgor shall cease including but not limited to be entitled to any rights being paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or interests associated with from the proceeds from auction or sale of the Equity Interest.The Pledgee shall not be liable for any loss incurred by its dueexercise of such rights and powers. 8.4 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利质权人行使质权获得的款项，应优先支付因处分质押股权而应缴的税款和费用以及和向质权人履行合同义务及偿还担保债务。扣除上述款项后如有余款，质权人应将余款交还出质人或根据有关法律、法规对该款项享有权利的其他人或者向出质人所在地公证机关提存，由此所生之任何费用全部由出质人承担；在中国法律允许的情况下，出质人应将上述款项无条件地赠予质权人或质权人指定的人。 In The proceeds from exercise of the event Pledge by Pledgee shall be used to pay for tax and expenses incurredas result of default, Pledgee is entitled to dispose of disposing the Equity Interest and to perform Contract Obligations and pay the Secured Indebtedness to the Pledgee prior and in accordance preference to any other payment. After the payment of the aforementioned amounts, the remaining balance shall be returned to Pledgor or any other person who have rights to such balance under applicable laws or be deposited to the local notary public office where Pledgor resides, with applicable PRC lawsall expense incurred being borne by Pledgor. Only to To the extent permitted under applicable PRC laws, Pledgor shall unconditionally donatethe aforementioned proceeds to Pledgee has no obligation to account to Pledgor for proceeds of disposition of the Equity Interest, and Pledgor hereby waives or any rights it may have to demand any such accounting from other person designated by Pledgee. 8.5 质权人依照本合同处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权质权人有权选择同时或先后行使其享有的任何违约救济，质权人在行使本协议项下的以质押股权折价或拍卖、变卖质押股权所得款项优先受偿的权利前，无须先行使其他违约救济。 Pledgee mayexercise any remedy measure available simultaneously or in any order. Pledgee may exercise the right to being paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from auction or sale of the Equity Interest under this Agreement,without exercising any other remedy measure first. 8.6 质权人有权以书面方式指定其律师或其他代理人行使其质权，出质人或丙方对此均不得提出异议。 Pledgee is entitled to designate an attorney or other representatives to exercise the Pledge on its behalf, and Pledgor or Party C shall not raise any objection to such exercise. 8.7 质权人依照本协议处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权。 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

Exercise of Pledge. 8.1 在控制协议所述的咨询服务费等费用未全部偿付前，未经质权人书面同意，出质人不得转让其拥有的丙方股权在业务合作协议所述的咨询服务费等费用未全部偿还前,未经质权人书面同意,出质人不得转让本质权和其拥有的丙方股权。 Prior to the full payment of the consulting and service fees described in the Control AgreementsBusiness Cooperation Agreement, without the Pledgee's written consent, Pledgor shall not assign the Pledge or the Equity Interest in Party C. 8.2 在质权人行使其质押权利时，质权人可以向出质人发出书面通知在质权人行使其质押权利时,质权人可以向出质人发出书面违约通知。 Pledgee may issue a written notice Notice of Default to Pledgor when exercising the Pledge. 8.3 受限于第 7.3 条的规定，质权人可在按第 7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益受限于第7.3条的规定,质权人可在按第7.2条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时, 出质人即不再拥有任何与股权有关的权利和利益。 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 7.37.2. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.4 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利在违约时,根据中国有关法律的规定,质权人有权按照法定程序处置质押股权。仅在中国法律允许的范围内,对于处置的所得,质权人无需给付出质人;出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利;同样,出质人对质权人在该质押股权处置后的亏空也不承担任何义务。 In the event of default, Pledgee is entitled to dispose of the Equity Interest pledged in accordance with applicable PRC laws. Only to the extent permitted under applicable PRC laws, Pledgee has no obligation to account to Pledgor for proceeds of disposition of the Equity Interest, and Pledgor hereby waives any rights it may have to demand any such accounting from Pledgee; Likewise, in such circumstance Pledgor shall have no obligation to Pledgee for any deficiency remaining after such disposition of the Equity Interest pledged. 8.5 质权人依照本合同处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权质权人依照本协议处分质权时,出质人和丙方应予以必要的协助,以使质权人实现其质权。 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

Exercise of Pledge. 8.1 在控制协议所述的咨询服务费等费用未全部偿付前，未经质权人书面同意，出质人不得转让其拥有的丙方股权。 Prior to the full payment of the consulting and service fees described in the Control Agreements, without the Pledgee's written consent, Pledgor shall not assign the Equity Interest in Party C. 8.2 在质权人行使其质押权利时，质权人可以向出质人发出书面通知在质权方行使其质押权利时，质权方可以向出质方发出书面违约通知。 Pledgee may issue a written notice Notice of Default to Pledgor when exercising the Pledge. 8.3 受限于第 7.3 条的规定，质权人可在按第 7.3 条发出违约通知之后的任何时间里对质权行使处分的权利。质权人决定行使处分质权的权利时，出质人即不再拥有任何与股权有关的权利和利益8.2 受限于第7.3条的规定，质权方可在按第8.1条发出违约通知之后的任何时间里对质权行使处分的权利。质权方决定行使处分质权的权利时，出质方即不再拥有任何与质押股权有关的权利和利益。 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 7.38.1. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.4 在违约时，根据中国有关法律的规定，质权人有权按照法定程序处置质押股权。在中国法律允许的范围内，对于处置的所得，质权人无需给付出质人；出质人特此放弃其可能有的能向质权人要求任何质押股权处置所得的权利8.3 质权方有权在根据第8.1条发出违约通知后，行使其根据中国法律、交易文件及本协议条款而享有的全部违约救济权利，包括(但不限于)以质押股权折价或以拍卖、变卖质押股权所得的价款以优先受偿。质权方对其合理行使该等权利和权力造成的任何损失不负责任。 In the event After Pledgee issues a Notice of defaultDefault Pledgee in accordance with Section 8.1, Pledgee is entitled may exercise any remedy measure under applicable PRC laws, the Transaction Documents and this Agreement, including but not limited to dispose be compensated in priority by the conversion of the Equity Pledge or from the proceeds from auction or sale of the Equity Interest. The Pledgee shall have no liability for any loss incurred by its duly exercise of such rights and powers. 8.4 质权方行使质权获得的款项，应优先支付因处分质押股权而应缴的税费和向质权方履行合同义务及偿还担保债务。扣除上述款项后如有余款，质权方应将余款交还出质方或根据有关法律、法规对该款项享有权利的其他人或者向出质方所在地公证机关提存(由此所生之任何费用全部由出质方承担)；在中国法律允许的情况下，出质方应将上述款项无条件地赠予质权方或质权方指定的人。 The proceeds from exercise of the Pledge by Pledgee shall be used to pay for tax and expenses incurred by disposing the Equity Interest and perform Contract Obligations and pay the Secured Indebtedness prior and in accordance preference to any other payment. After the payment of the aforementioned amounts, the remaining balance shall be returned to Pledgor or any other person who have rights to such balance under applicable laws or be deposited to the local notary public office where Pledgor resides, with applicable PRC lawsall expense incurred being borne by Pledgor. Only to To the extent permitted under applicable PRC laws, Pledgor shall unconditionally give the aforementioned proceeds to Pledgee has no obligation to account to Pledgor for proceeds of disposition of the Equity Interest, and Pledgor hereby waives or any rights it may have to demand any such accounting from other person designated by Pledgee. 8.5 质权人依照本合同处分质权时，出质人和丙方应予以必要的协助，以使质权人实现其质权质权方有权选择同时或先后行使其享有的任何违约救济，质权方在行使本协议项下的以质押股权折价或拍卖、变卖质押股权所得款项优先受偿的权利前，无须先行使其他违约救济。 Pledgee has the right to exercise any remedy measure available simultaneously or in any order. Pledgee may exercise the right to be compensated from in priority by the conversion of the Equity Pledge or from the proceeds from auction or sale of the Equity Interest under this Agreement, without exercising any other remedy measure first. 8.6 质权方有权以书面方式指定其律师或其他代理人行使其质权，出质方或丁方对此均不得提出异议。 Pledgee is entitled to designate an attorney or other representatives to exercise the Pledge on its behalf and Pledgor and Party D shall not raise any objection to such exercise. 8.7 质权方依照本协议处分质权时，出质方和丁方应予以必要的协助，以使质权方实现其质权。 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C D shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.