Common use of Pledge of Equity Clause in Contracts

Pledge of Equity. 1.1 In order to guarantee Huashangjie Company, all the shareholders of Huashangjie Company (“Shareholders” )and other related responsible parties to perform all obligations and liabilities under the Onshore Agreements, Party A agrees to pledge the Pledged Equities (as defined in Section 4 herein) under this Agreement to Party B pursuant to the terms and conditions of this Agreement, and Party B agrees to accept the above equity pledge, and have priority right to the proceeds from the conversion, auction, or sale of the Pledged Equities. 1.2 The pledge under this Agreement includes the rights owned by Party B to collect the fees (including legal fees), expenses, interests, losses, liquidated damages and compensations that Huashangjie Company and/or the Shareholders shall pay under the Onshore Agreements, and civil liabilities that Huashangjie Company and/or the Shareholders shall bear in case the Onshore Agreements wholly or partially become null and void due to any reason. 1.3 Unless consent in writing by Party B, after the execution of this Agreement, the pledge under this Agreement will be terminated only when Huashangjie Company and the Shareholders have performed all the obligations and liabilities under the Onshore Agreements and Party B confirms such fulfillment in writing. If Huashangjie Company or the Shareholders have not fully performed all or part of its or their obligations or liabilities under the Onshore Agreements at the expiration of such agreements, Party B will maintain the pledge hereunder up to the date when all such obligations and liabilities are fully performed.

Pledge of Equity. 1.1 In order to guarantee Huashangjie Company, ,all the shareholders of Huashangjie Company (“ShareholdersCompany(“Shareholders” )and other related responsible parties to perform all obligations and liabilities under the Onshore Agreements, Party A agrees to pledge the Pledged Equities (as defined in Section 4 herein) under this Agreement to Party B pursuant to the terms and conditions of this Agreement, and Party B agrees to accept the above equity pledge, and have priority right to the proceeds from the conversion, auction, or sale of the Pledged Equities. 1.2 The pledge under this Agreement includes the rights owned by Party B to collect the fees (including legal fees), expenses, interests, losses, liquidated damages and compensations that Huashangjie Company and/or thatHuashangjie Companyand/or the Shareholders shall pay under the Onshore Agreements, and civil liabilities that Huashangjie Company and/or Companyand/or the Shareholders shall bear in case the Onshore Agreements wholly or partially become null and void due to any reason. 1.3 Unless consent in writing by Party B, after the execution of this Agreement, the pledge under this Agreement will be willbe terminated only when Huashangjie Company and the Shareholders have performed all the obligations and liabilities under the Onshore Agreements and Party B confirms such fulfillment in fulfillmentin writing. .If Huashangjie Company or Companyor the Shareholders have not fully performed all or part of its or their obligations or liabilities under the Onshore Agreements at the expiration of such agreements, Party B will maintain the pledge hereunder up to the date when all such obligations and liabilities are fully performed.

Pledge of Equity. 1.1 In order to guarantee Huashangjie Qianxian Company, ,all the shareholders of Huashangjie Company (“ShareholdersQianxian Company(“Shareholders” )and other related responsible parties to perform all obligations and liabilities under the Onshore Agreements, Party A agrees to pledge the Pledged Equities (as defined in Section 4 herein) under this Agreement to Party B pursuant to the terms and conditions of this Agreement, and Party B agrees to accept the above equity pledge, and have priority right to the proceeds from the conversion, auction, or sale of the Pledged Equities. 1.2 The pledge under this Agreement includes the rights owned by Party B to collect the fees (including legal fees), expenses, interests, losses, liquidated damages and compensations that Huashangjie Company and/or thatQianxian Companyand/or the Shareholders shall pay under the Onshore Agreements, and civil liabilities that Huashangjie Company and/or Qianxian Companyand/or the Shareholders shall bear in case the Onshore Agreements wholly or partially become null and void due to any reason. 1.3 Unless consent in writing by Party B, after the execution of this Agreement, the pledge under this Agreement will be willbe terminated only when Huashangjie Qianxian Company and the Shareholders have performed all the obligations and liabilities under the Onshore Agreements and Party B confirms such fulfillment in fulfillmentin writing. .If Huashangjie Qianxian Company or the Shareholders have not fully performed all or part of its or their obligations or liabilities under the Onshore Agreements at the expiration of such agreements, Party B will maintain the pledge hereunder up to the date when all such obligations and liabilities are fully performed.