Common use of Pledge Clause in Contracts

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 The Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that the Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, the Pledgee is entitled to receive dividends distributed on the Equity Interest. The Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of the Pledgee. Dividends received by the Pledgor on Equity Interest after the deduction of individual income tax paid by the Pledgor shall be, as required by the Pledgee, (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make making any other payment; or (2) unconditionally donated to the Pledgee or any other person designated by the Pledgee to the extent permitted under the applicable PRC laws. 2.3 The Pledgor may subscribe for a capital increase in Party C only with prior written consent of the Pledgee. Any equity interest obtained by the Pledgor as a result of the Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to the Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to the Pledgee or any other person designated by the Pledgee to the extent permitted under the applicable PRC laws.

Pledge. 2.1 The Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that the Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, unless prohibited by the applicable laws and regulations, the Pledgee is entitled to receive dividends distributed on the Equity Interest. Without the prior written consent of the Pledgee, the Pledgor may shall not receive dividends distributed on the Equity Interest only with prior written consent of PledgeeInterest. Dividends received by the Pledgor on Equity Interest after the deduction of individual income tax paid by the Pledgor shall be, as required by the Pledgee, (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to making any other payment; or (2) to the extent not prohibited by the applicable PRC laws, unconditionally donated to the Pledgee or any other person designated by the Pledgee in the manner permitted by the PRC laws. 2.3 The Pledgor may subscribe for a capital increase in Party C only with prior written consent of the Pledgee. Any additional equity interest obtained by the Pledgor as a result of the Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest, and the Parties shall enter into further equity pledge agreement for this purpose and complete registration of the pledge of such additional equity interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to the Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) to the extent not prohibited by PRC laws, unconditionally donated to the Pledgee or any other person designated by the Pledgee to in the extent manner permitted under by the applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 The Pledgor agrees to pledge all the Equity Interest as security to the Pledgee for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C The Company hereby assents that the Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 The effect of the security under this Agreement shall not be affected in any way due to any modification or change of the Transaction Documents. The security under this Agreement shall remain effective upon the obligations of the Pledgor and the Company under the revised Transaction Documents. If any Transaction Document becomes invalid, revoked or terminated for any reason, the Pledgee shall be entitled to immediately exercise the Pledge in accordance with Section 8 of this Agreement. 2.3 During the term of the Pledge, the Pledgee is entitled to receive dividends distributed on the Equity Interest. The Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of the Pledgee. Dividends In the event that any dividends received by the Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor the Pledgor, such dividends shall be, as required by the Pledgee, (1i) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to making any other payment; or (ii) unconditionally donated to the Pledgee or any other person designated by the Pledgee to the extent permitted under applicable PRC laws. 2.4 The Pledgor may subscribe for capital increase in the Company only with prior written consent of the Pledgee. Any equity interest obtained by the Pledgor as a result of the Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.5 In the event that the Company is required by PRC law to be liquidated or dissolved, any interest distributed to the Pledgor upon the Company’s dissolution or liquidation shall, upon the request of the Pledgee, be (i) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2ii) unconditionally donated to the Pledgee or any other person designated by the Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest under this Agreement as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. by Pledgor and Party C. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term Term of the Pledge, Pledgee is entitled to receive all dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, shall be (1) deposited into an account designate designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.5 The Parties understand and agree that the monetary valuation arising from, relating to or in connection with the Secured Indebtedness shall be a variable and floating valuation until the Settlement Date (as defined below). The Pledgor and the Pledgee may, taking into account the fluctuation in the monetary value of the Secured Indebtedness and the equity interest held by Pledgor, adjust the maximum amount of the Secured Indebtedness based on mutual agreement by amending and supplementing this Agreement, from time to time, prior to the Settlement Date. 2.6 Upon the occurrence of any of the events below (each an “Event of Settlement”), the Secured Indebtedness shall be fixed at a value of the sum of all Secured Indebtedness that are due, outstanding and payable to the Pledgee on or immediately prior to the date of such occurrence (the “Fixed Obligations”): 2.6.1 the Exclusive Business Cooperation Agreement expires or is terminated pursuant to the stipulations thereunder; 2.6.2 the occurrence of an Event of Default pursuant to Section 7 that is not resolved, which results in the Pledgee serving a Notice of Default to the Pledgor pursuant to Section 7.3; 2.6.3 the Pledgee reasonably determines (having made due enquiries) that the Pledgor and/or Party C is insolvent or could potentially be made insolvent; or

Pledge. 2.1 The Pledgor hereby agrees to pledge all to the Pledgor the Pledged Equity Interest on terms of this Agreement as security for his performance of the Contract Contractual Obligations and payment repayment of the Secured Indebtedness under this AgreementDebts. Party C The Domestic Company hereby assents agree that the Pledgor pledges may pledge the Pledged Equity Interest to the Pledgee pursuant to in accordance with the terms of this Agreement. 2.2 During the term of Pledge Term, the Pledge, Pledgee is shall be entitled to receive dividends distributed on bonus or dividend generated by the Equity InterestPledged Equity. The Pledgor may not receive dividends distributed on any dividend or bonus without the Equity Interest only with prior written consent of the Pledgee. Dividends received by Pledgor on Equity Interest after After deduction of the individual income tax to be paid by the Pledgor, the dividend or bonus received by the Pledgor shall befor the Pledged Equity shall, as required by at the request of the Pledgee, (1i) be deposited into an in the bank account designated by the Pledgee, being supervised and supervised administrated by Pledgee the Pledgee, and shall be used to secure the Contract Contractual Obligations and pay repay the Secured Indebtedness prior and in preference to make any other paymentDebts first; or (2ii) be unconditionally donated to the Pledgee or any other its designated person designated by Pledgee to the extent permitted under applicable by the PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with Without the Pledgee’s prior written consent of Pledgee. Any equity interest obtained by consent, the Pledgor as a result of Pledgor’s subscription of shall not increase the increased registered capital of the Domestic Company. Any additional contribution amount of the Pledgor to the registered capital of the Domestic Company arising from the Pledgor’s increase of the capital shall also be deemed as Equity Interestthe Pledged Equity. 2.4 In the event that Party C the Domestic Company is required by PRC law to be dissolved or liquidated or dissolvedin accordance with the mandatory provisions of the PRC laws, any interest proceeds lawfully distributed to the Pledgor upon Party C’s after completion of such dissolution or liquidation of the Domestic Company shall, upon at the request of the Pledgee, (i) be (1) deposited into an in the bank account designate designated by the Pledgee, being supervised and supervised administrated by Pledgee the Pledgee, and shall be used to secure the Contract Contractual Obligations and pay repay the Secured Indebtedness prior and in preference to make any other paymentDebts first; or (2ii) be unconditionally donated to the Pledgee or any other its designated person designated by Pledgee to the extent permitted under applicable by the PRC laws.

Pledge. 2.1 The Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that the Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, the Pledgee is entitled to receive dividends distributed on the Equity Interest. Without the prior written consent of the Pledgee, the Pledgor may shall not receive dividends distributed on the Equity Interest only with prior written consent of PledgeeInterest. Dividends received by the Pledgor on Equity Interest after the deduction of individual income tax paid by the Pledgor shall be, as required by the Pledgee, (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make making any other payment; or (2) to the extent not violate the applicable PRC laws, unconditionally donated to the Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC lawsPledgee. 2.3 The Pledgor may subscribe for a capital increase in Party C only with prior written consent of the Pledgee. Any additional equity interest obtained by the Pledgor as a result of the Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to the Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) to the extent not violate PRC laws, unconditionally donated to the Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC lawsPledgee.

Pledge. 2.1 The Pledgor hereby agrees to pledge all the Pledged Equity Interest as the security for the performance of the Contract Contractual Obligations and the payment of the Secured Indebtedness under this AgreementLiabilities. Party C hereby assents agrees that the Pledgor pledges the Pledged Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term Term of the Pledge, the Pledgee is entitled to receive dividends distributed on the Pledged Equity Interest. Pledgor The Pledgee may receive dividends distributed on the Pledged Equity Interest only with prior written consent of Pledgeethe Pledgor. Dividends received by the Pledgor on the Pledged Equity Interest after deduction of individual income tax paid by the Pledgor shall be, as required by the Pledgee, (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Contractual Obligations and pay the Secured Indebtedness prior and in preference to make any other paymentLiabilities with priority; or (2) unconditionally donated granted to the Pledgee or any other person designated by the Pledgee to the extent permitted under not in violation of the applicable PRC lawsLaws. 2.3 Pledgor The Pledgee may subscribe for increase the capital increase in of Party C only with prior written consent of Pledgeethe Pledgor. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription The increased capital contribution amount of the increased Pledgor in the registered capital of the Company as a result of such capital increase of the Company shall also be deemed as a part of the Pledged Equity Interest. The Parties shall enter into a supplementary pledge agreement therefor and complete registration of the increased capital contribution. 2.4 In the event that If Party C is required by PRC law to be dissolved or liquidated or dissolvedin accordance with the mandatory provisions of the laws of the PRC, any interest distributed to Pledgor upon after Party C’s C completes dissolution or liquidation shallprocedures in accordance with law, upon any interests distributed to the request of Pledgor by Party C in accordance with law shall be, as requested by the Pledgee, be (1) deposited into an account designate and supervised designated by the Pledgee, placed under the custody of the Pledgee and used to secure provide security for the Contract Contractual Obligations and pay payment of the Secured Indebtedness prior and in preference to make any other paymentLiabilities with priority; or (2) unconditionally donated granted to the Pledgee or any other person designated by Pledgee the Pledgee’s designee subject to the extent permitted under applicable PRC lawslaws of the PRC.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 The effect of the security under this Agreement shall not be affected in any way due to any modification or change of the Transaction Documents. The security under this Agreement shall remain effective upon the obligations of the Pledgor and Party C under the revised Transaction Documents. If any Transaction Document becomes invalid, revoked or terminated for any reason, the Pledgee shall be entitled to immediately exercise the Pledge in accordance with Article 8 of this Agreement. 2.3 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make making any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 2.4 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 2.5 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor hereby agrees to pledge all to the Pledgee the Equity Interest pursuant to this Agreement as security the guarantee for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. by Pledgor and Party C. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity InterestInterest during the term of Pledge. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s the subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. Pledgor and Party C shall complete the Company registration in accordance with Section 3.1 of this Agreement. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolveddissolved in accordance with the mandatory provisions of PRC laws, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shallshall be, upon the request of the Pledgee, be (1) deposited into an account designate designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor agrees Pledgors agree to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor Pledgors may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s Pledgor ‘s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor agrees Pledgors agree to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor Pledgors may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor agrees to As collateral for the repayment of the Secured Debt, the Pledgors hereby pledge all the Equity Interest as security for performance of Pledged Equities to the Contract Obligations Pledgee, and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges permits the Equity Interest Pledgors to pledge the Pledged Equities to the Pledgee pursuant to in accordance with the terms and conditions of this Agreement. 2.2 During The Pledgors undertake that they will be responsible for entering the term equity pledge arrangements hereunder into the register of members of Party C. 2.3 The Pledgors may increase their capital contribution to Party C, subject to the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of the Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital The increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of Party C by way of additional capital contribution by the Company Pledgors shall also be deemed included into the Pledged Equity. The Pledgors undertake to enter into Party C’s register of members the pledge of the additional capital contribution under Clause 2.3 hereof, and apply to the competent registration authority (as Equity Interestdefined below) to register such pledge within ten (10) working days after such increase in capital contribution is effected. 2.4 In During the event that Party C is required Term of Pledge, the Pledgee shall have the right to receive the proceeds from the pledge equity (including but not limited to any dividends or profits therefrom). The Pledgors may share the dividends or dividends from the Pledged Equity, subject to the Pledgee’s prior written consent. The dividends or profits distributed by PRC law to the Pledgor for the Pledged Equity shall be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon deposited into the request designated account of the Pledgee, be (1) deposited into an account designate and supervised by the Pledgee and shall be first used to secure the Contract Obligations and pay repay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC lawsDebt.

Pledge. 2.1 Pledgor The Pledgors hereby agrees to pledge all the Equity Interest as security for the performance of the Contract Contractual Obligations and payment repayment of the Secured Indebtedness under pursuant to this Agreement. Party C hereby assents agrees that Pledgor the Pledgors pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 The effect of the security under this Agreement shall not be affected in any way due to any modification or change of the Transaction Documents. The security under this Agreement shall remain effective upon the obligations of the Pledgors and Party C under the revised Transaction Documents. If any Transaction Document becomes invalid, revoked or terminated for any reason, the Pledgee shall be entitled to immediately exercise the Pledge in accordance with Article 8 of this Agreement. 2.3 During the term of the Pledge, the Pledgee is entitled to receive bonus or dividends distributed on the Equity Interest. Pledgor The Pledgors may receive dividends or bonus distributed on the Equity Interest only with prior written consent of the Pledgee. Dividends or bonuses received by Pledgor Pledgors on Equity Interest after deduction of individual income tax paid by Pledgor the Pledgors shall be, as required by the Pledgee, (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Contractual Obligations and pay repay the Secured Indebtedness prior and in preference to make making any other payment; or (2) unconditionally donated to the Pledgee or any other person designated by the Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor 2.4 The Pledgors may subscribe for capital increase in Party C only with prior written consent of the Pledgee. Any equity interest obtained The amount of capital contributed by Pledgor the Pledgors in the company’s registered capital as a result of Pledgor’s the Pledgors’ subscription of the increased registered capital of the Company company shall also be deemed as Equity Interest. After completion of the capital increase, the Pledgors shall cooperate with the Pledgee in a timely manner on the Equity Interest registration for the increased capital contribution. 2.4 2.5 In the event that Party C is required by the mandatory provisions in the PRC law to be liquidated or dissolved, any interest distributed to Pledgor the Pledgors upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate designated and supervised by the Pledgee and used to secure the Contract Contractual Obligations and pay repay the Secured Indebtedness prior and in preference to make making any other payment; or (2) unconditionally donated to the Pledgee or any other person designated by the Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 The Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that the Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, the Pledgee is entitled to receive dividends distributed on the Equity Interest. The Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of the Pledgee. Dividends received by the Pledgor on Equity Interest after the deduction of individual income tax paid by the Pledgor shall be, as required by the Pledgee, (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make making any other payment; or (2) unconditionally donated to the Pledgee or any other person designated by the Pledgee to the extent permitted under the applicable PRC laws. 2.3 The Pledgor may subscribe for a capital increase in Party C only with prior written consent of the Pledgee. Any equity interest obtained by the Pledgor as a result of the Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 The Pledgor hereby agrees to pledge all the Pledged Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness Debts under this Agreement. Party C hereby assents agrees that the Pledgor pledges the Pledged Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term Term of the Pledge, the Pledgee is entitled to receive dividends distributed on the Pledged Equity Interest. Without the prior written consent of the Pledgee, the Pledgor may shall not receive dividends distributed on the Pledged Equity Interest only with prior written consent of PledgeeInterest. Dividends received by the Pledgor on the Pledged Equity Interest after the deduction of individual income tax paid by the Pledgor shall be, as required by the Pledgee, (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness Debts prior and in preference to make making any other payment; or (2) to the extent not prohibited by the applicable PRC laws, unconditionally donated to the Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC lawsPledgee. 2.3 The Pledgor may subscribe for a capital increase in Party C only with prior written consent of the Pledgee. Any additional equity interest obtained by the Pledgor as a result of the Pledgor’s subscription of the increased registered capital of the Company Party C shall also be deemed as Pledged Equity Interest, and the Parties shall enter into further equity pledge agreement for this purpose and complete registration of the pledge of such additional equity interest. 2.4 In the event that Party C is required by the PRC law to be liquidated or dissolved, any interest distributed to the Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness Debts prior and in preference to make any other payment; or (2) to the extent not prohibited by the PRC laws, unconditionally donated to the Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC lawsPledgee.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 The effect of the security under this Agreement shall not be affected in any way due to any modification or change of the Transaction Documents. The security under this Agreement shall remain effective upon the obligations of the Pledgor and Party C under the revised Transaction Documents. If any Transaction Document becomes invalid, revoked or terminated for any reason, the Pledgee shall be entitled to immediately exercise the Pledge in accordance with Article 8 of this Agreement. 2.3 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make making any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 2.4 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. All Parties shall enter into the equity pledge agreement on such Equity Interest and register such Equity Interest with the relevant AIC (as defined below). 2.4 2.5 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor Xxxxxxx agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of PledgorXxxxxxx’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.. ​ 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law or upon the written consent by Party A to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this AgreementAgreement the amount of equity pledge is RMB2000. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this AgreementAgreement to secure Party C’s debt in the amount of RMB2000. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor Pxxxxxx agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of PledgorPxxxxxx’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, shall be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, shall be (1) deposited into an account designate designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 The Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that the Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, the Pledgee is entitled to receive dividends distributed on the Equity Interest. The Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of the Pledgee. Dividends received by the Pledgor on Equity Interest after the deduction of individual income tax paid by the Pledgor shall be, as required by the Pledgee, (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make making any other payment; or (2) unconditionally donated to the Pledgee or any other person designated by the Pledgee to the extent permitted under the applicable PRC laws. 2.3 The Pledgor may subscribe for a capital increase in Party C only with prior written consent of the Pledgee. Any equity interest obtained by the Pledgor as a result of the Pledgor’s subscription of the increased registered capital of the Company Party C shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to the Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to the Pledgee or any other person designated by the Pledgee to the extent permitted under the applicable PRC laws.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C The Company hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C the Company only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest, and for this purpose, the Parties shall conduct the pledge modification registration of the Equity Interest or the pledge establishment registration of the increased equity interest under relevant laws and regulations. 2.4 In the event that Party C the Company is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party Cthe Company’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this AgreementAgreement to secure Party C’s debt in the amount of RMB19,998,000. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and Pledgeeand used to secure the securethe Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase capitalincrease in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. The Parties shallenter into a further pledge agreement and complete registration of the increased equity interest. 2.4 In the event that Party C is required isrequired by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate designated and supervised by Pledgee and used to secure the securethe Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledge Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, be as required by Pledgee, Pledgee (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, dissolved any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, shall upon the request of the Pledgee, Pledgee be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 The Pledgor hereby agrees to pledge all to the Pledgor the Pledged Equity Interest on terms of this Agreement as security for her performance of the Contract Contractual Obligations and payment repayment of the Secured Indebtedness under this AgreementDebts. Party C The Domestic Company hereby assents agree that the Pledgor pledges may pledge the Pledged Equity Interest to the Pledgee pursuant to in accordance with the terms of this Agreement. 2.2 During the term of Pledge Term, the Pledge, Pledgee is shall be entitled to receive dividends distributed on bonus or dividend generated by the Equity InterestPledged Equity. The Pledgor may not receive dividends distributed on any dividend or bonus without the Equity Interest only with prior written consent of the Pledgee. Dividends received by Pledgor on Equity Interest after After deduction of the individual income tax to be paid by the Pledgor, the dividend or bonus received by the Pledgor shall befor the Pledged Equity shall, as required by at the request of the Pledgee, (1i) be deposited into an in the bank account designated by the Pledgee, being supervised and supervised administrated by Pledgee the Pledgee, and shall be used to secure the Contract Contractual Obligations and pay repay the Secured Indebtedness prior and in preference to make any other paymentDebts first; or (2ii) be unconditionally donated to the Pledgee or any other its designated person designated by Pledgee to the extent permitted under applicable by the PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with Without the Pledgee’s prior written consent of Pledgee. Any equity interest obtained by consent, the Pledgor as a result of Pledgor’s subscription of shall not increase the increased registered capital of the Domestic Company. Any additional contribution amount of the Pledgor to the registered capital of the Domestic Company arising from the Pledgor’s increase of the capital shall also be deemed as Equity Interestthe Pledged Equity. 2.4 In the event that Party C the Domestic Company is required by PRC law to be dissolved or liquidated or dissolvedin accordance with the mandatory provisions of the PRC laws, any interest proceeds lawfully distributed to the Pledgor upon Party C’s after completion of such dissolution or liquidation of the Domestic Company shall, upon at the request of the Pledgee, (i) be (1) deposited into an in the bank account designate designated by the Pledgee, being supervised and supervised administrated by Pledgee the Pledgee, and shall be used to secure the Contract Contractual Obligations and pay repay the Secured Indebtedness prior and in preference to make any other paymentDebts first; or (2ii) be unconditionally donated to the Pledgee or any other its designated person designated by Pledgee to the extent permitted under applicable by the PRC laws.

Pledge. 2.1 Pledgor Xxxxxxx agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after the deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of PledgorXxxxxxx’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 The Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that the Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, the Pledgee is entitled to receive dividends distributed on the Equity Interest. Without the prior written consent of the Pledgee, the Pledgor may shall not receive dividends distributed on the Equity Interest only with prior written consent of PledgeeInterest. Dividends received by the Pledgor on Equity Interest after the deduction of individual income tax paid by the Pledgor shall be, as required by the Pledgee, (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make making any other payment; or (2) to the extent not violate the applicable PRC laws, unconditionally donated to the Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC lawsPledgee. 2.3 The Pledgor may subscribe for a capital increase in Party C only with prior written consent of the Pledgee. Any additional equity interest obtained by the Pledgor as a result of the Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to the Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) to the extent not prohibited by PRC laws, unconditionally donated to the Pledgee or any other person designated by the Pledgee to in the extent manner permitted under by the applicable PRC laws.

Pledge. 2.1 Pledgor Xxxxxxx agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed ​ on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of PledgorXxxxxxx’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 The Pledgor agrees hereby pledges the Pledged Equity Interests to pledge all the Equity Interest Pledgee as security for its performance of the Contract Contractual Obligations and payment repayment of the Secured Indebtedness under Debts according to this AgreementContract. Party C hereby assents agrees that the Pledgor pledges the Pledged Equity Interest Interests to the Pledgee pursuant according to this AgreementContract. 2.2 During the term of Pledge Term, the Pledge, Pledgee is entitled pledgee has the right to receive dividends distributed on or interests arising from the Pledged Equity InterestInterests, unless prohibited by applicable laws and regulations. The Pledgor may shall not receive dividends distributed on or interests from the Pledged Equity Interest only with Interests without the prior written consent of the Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual After deducting the personal income tax paid by Pledgor the pledgor, according to the pledgee's request, the dividends or interests obtained by the pledgor due to the Pledged Equity Interests shall be, as required by Pledgee, (1) be deposited into an in the designated account designated of the pledgee and supervised by Pledgee the pledge, and shall be used to secure the Contract Contractual Obligations and pay the first settlement of the Secured Indebtedness prior and in preference to make any other paymentDebt; or (2) within the scope not prohibited by the laws of China, such dividends and interests shall be unconditionally donated to Pledgee the pledgee or any other the person designated by Pledgee to the extent pledgee in the manner permitted under applicable PRC lawsby the laws of China. 2.3 The Pledgor only may subscribe for increase the capital increase in of Party C only with the prior written consent of the Pledgee. Any equity interest obtained The amount of capital contributed by Pledgor as a result of Pledgor’s subscription the pledgor in the company's registered capital due to the capital increase of the company is also belongs to Pledged Equity Interests. The parties shall further sign a pledge agreement for such case and file a pledge registration for the increased registered capital of the Company shall also be deemed as Equity Interestcontribution. 2.4 In the event that If Party C is required by PRC law to be dissolved or liquidated in accordance with the mandatory provisions of the laws of China, after Party C has completed the dissolution or dissolvedliquidation procedures legally, any benefit or interest distributed to the Pledgor upon from Party C’s dissolution or liquidation C shall, upon the request of the Pledgee, be (1) be deposited into an in the designated account designate of the pledgee and supervised by Pledgee the pledge, and shall be used to secure the Contract Contractual Obligations and pay the first settlement of the Secured Indebtedness prior and in preference to make any other paymentDebts; or (2) within the scope not prohibited by the laws of China, such dividends and interests shall be unconditionally donated to Pledgee the pledgee or any other the person designated by Pledgee to the extent pledgee in the manner permitted under applicable PRC lawsby the laws of China.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law or upon the written consent by Party A to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. ​ 2.1 The Pledgor hereby agrees to pledge all the Pledged Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness Debts under this Agreement. Party C hereby assents agrees that the Pledgor pledges the Pledged Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term Term of the Pledge, the Pledgee is entitled to receive dividends distributed on the Pledged Equity Interest. Without the prior written consent of the Pledgee, the Pledgor may shall not receive dividends distributed on the Pledged Equity Interest only with prior written consent of PledgeeInterest. Dividends received by the Pledgor on the Pledged Equity Interest after the deduction of individual income tax paid by the Pledgor shall be, as required by the Pledgee, (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness Debts prior and in preference to make making any other payment; or (2) to the extent not prohibited by the applicable PRC laws, unconditionally donated to the Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC lawsPledgee. 2.3 The Pledgor may subscribe for a capital increase in Party C only with prior written consent of the Pledgee. Any additional equity interest obtained by the Pledgor as a result of the Pledgor’s subscription of the increased registered capital of the Company Party C shall also be deemed as Pledged Equity Interest, and the Parties shall enter into further equity pledge agreement for this purpose and complete registration of the pledge of such additional equity interest. 2.4 In the event that Party C is required by the PRC law to be liquidated or dissolved, any interest distributed to the Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness Debts prior and in preference to make any other payment; or (2) to the extent not prohibited by the PRC laws, unconditionally donated to the Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC lawsPledgee.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.. ​ 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest.. ​ 2.4 In the event that Party C is required by PRC law or upon the written consent by Party A to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.. ​

Pledge. ​ ​ 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. ​ 2.2 The effect of the security under this Agreement shall not be affected in any way due to any modification or change of the Transaction Documents. The security under this Agreement shall remain effective upon the obligations of the Pledgor and Party C under the revised Transaction Documents. If any Transaction Document becomes invalid, revoked or terminated for any reason, the Pledgee shall be entitled to immediately exercise the Pledge in accordance with Article 8 of this Agreement. 2.2 2.3 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make making any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.. ​ 2.3 2.4 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest.. All Parties shall enter into the equity pledge agreement on such Equity Interest and register such Equity Interest with the relevant AIC (as defined below). ​ 2.4 2.5 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.. ​

Pledge. ​ 2.1 Pledgor agrees The Pledgors agree to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C The Company hereby assents that Pledgor pledges the Pledgors pledge the Equity Interest to the Pledgee pursuant to this Agreement.. ​ 2.2 During the term Term of the Pledge, unless prohibited by the applicable laws and regulations, the Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may Without the prior written consent of the Pledgee, the Pledgors shall not receive dividends distributed on the Equity Interest only with prior written consent of PledgeeInterest. Dividends received by Pledgor the Pledgors on Equity Interest after the deduction of individual income tax relevant taxes paid by Pledgor the Pledgors shall be, as required by the Pledgee, (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to making any other payment; or (2) to the extent not prohibited by the applicable PRC laws, unconditionally donated to the Pledgee or any other person designated by the Pledgee in the manner permitted by the PRC laws. ​ 2.3 The Pledgors may subscribe for a capital increase in the Company only with prior written consent of the Pledgee. Any additional equity interest obtained by the Pledgors as a result of the Pledgors’ subscription of the increased registered capital of the Company shall also be deemed as Equity Interest, and the Parties shall enter into further equity pledge agreement for this purpose and complete registration of the pledge of such additional equity interest. ​ 2.4 In the event that the Company is required by PRC law to be liquidated or dissolved, any interest distributed to the Pledgors upon the Company’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) to the extent not prohibited by PRC laws, unconditionally donated to the Pledgee or any other person designated by the Pledgee to in the extent manner permitted under by the applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.​ ​ ​ ​

Pledge. ​ 2.1 Pledgor Xxxxxxx agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement.. ​ 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.. ​ 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of PledgorXxxxxxx’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest.. ​ 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.. ​

Pledge. ​ 2.1 Pledgor Xxxxxxx agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 . During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.. ​ 2.3 2.2 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of PledgorXxxxxxx’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest.. ​ 2.4 2.3 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.. ​

Pledge. 2.1 Pledgor agrees Pledgors agree to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges Pledgors pledge the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor .Pledgors may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor Pledgors on Equity Interest after deduction of individual income tax all applicable taxes paid by Pledgor Pledgors shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor Pledgors may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor Pledgors as a result of Pledgor’s Pledgors subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor Pledgors upon Party C’s Cs dissolution or liquidation (after deduction of all applicable taxes paid by Pledgors) shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor agrees Pledgors agree to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges Pledgors pledge the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor Pledgors may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor Pledgors on Equity Interest after deduction of individual income tax all applicable taxes paid by Pledgor Pledgors shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor Pledgors may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor Pledgors as a result of Pledgor’s Pledgors subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor Pledgors upon Party C’s Cs dissolution or liquidation (after deduction of all applicable taxes paid by Pledgors) shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor Party B agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor Party B pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor Party B on Equity Interest after deduction of individual income tax paid by Pledgor Party B shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor Party B may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of PledgorParty B’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor Party B upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 The Pledgor agrees to pledge all the Equity Interest as security for Pledgor’s and the Party C’s performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that the Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term Term of the Pledge, the Pledgee is entitled to receive dividends distributed on the Equity Interest. The Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of the Pledgee. Dividends received by the Pledgor on Equity Interest after the deduction of individual income tax paid by the Pledgor shall be, as required by the Pledgee, (1a) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to making any other payment; or (b) unconditionally donated to the Pledgee or any other person designated by the Pledgee to the extent permitted under the applicable PRC laws. 2.3 The Pledgor may subscribe for increased capital of Party C only with prior written consent of the Pledgee. Any equity interest obtained by the Pledgor as a result of the Pledgor’s subscription of the increased registered capital of Party C shall also be deemed as Equity Interest. 2.4 In the event that Party C is required to be liquidated or dissolved by the PRC laws, any interest distributed to the Pledgor upon Party C’s dissolution or liquidation shall be, upon the request of the Pledgee and extent permitted under the applicable PRC laws, (a) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2b) unconditionally donated to the Pledgee or any other person designated by the Pledgee to the extent permitted under applicable PRC lawsthe. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is .is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 The Pledgor hereby agrees to pledge all the Pledged Equity Interest as the security for the performance of the Contract Contractual Obligations and the payment of the Secured Indebtedness under this AgreementLiabilities. Party C hereby assents agrees that the Pledgor pledges the Pledged Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term Term of the Pledge, the Pledgee is entitled to receive dividends distributed on the Pledged Equity Interest. Pledgor The Pledgee may receive dividends distributed on the Pledged Equity Interest only with prior written consent of Pledgeethe Pledgor. Dividends received by the Pledgor on the Pledged Equity Interest after deduction of individual income tax paid by the Pledgor shall be, as required by the Pledgee, (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other paymentLiabilities with priority; or (2) unconditionally donated granted to the Pledgee or any other person designated by the Pledgee to the extent permitted under not in violation of the applicable PRC lawsLaws. 2.3 Pledgor The Pledgee may subscribe for increase the capital increase in of Party C only with prior written consent of Pledgeethe Pledgor. Any equity interest obtained by Pledgor as a result of Pledgor’s subscription The increased capital contribution amount of the increased Pledgor in the registered capital of the Company as a result of such capital increase of the Company shall also be deemed as a part of the Pledged Equity Interest. The Parties shall enter into a supplementary pledge agreement therefor and complete registration of the increased capital contribution. 2.4 In the event that If Party C is required by PRC law to be dissolved or liquidated or dissolvedin accordance with the mandatory provisions of the laws of the PRC, any interest distributed to Pledgor upon after Party C’s C completes dissolution or liquidation shallprocedures in accordance with law, upon any interests distributed to the request of Pledgor by Party C in accordance with law shall be, as requested by the Pledgee, be (1) deposited into an account designate and supervised designated by the Pledgee, placed under the custody of the Pledgee and used to secure provide security for the Contract Contractual Obligations and pay payment of the Secured Indebtedness prior and in preference to make any other paymentLiabilities with priority; or (2) unconditionally donated granted to the Pledgee or any other person designated by Pledgee the Pledgee’s designee subject to the extent permitted under applicable PRC lawslaws of the PRC.

Pledge. 2.1 Pledgor Xxxxxxx agrees to pledge all the Equity Interest as security for performance of the Contract Obligations and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 2.2 During the term of the Pledge, Pledgee is entitled to receive dividends distributed on the Equity Interest. Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee. Dividends received by Pledgor on Equity Interest after deduction of individual income tax all applicable taxes paid by Pledgor shall be, as required by Pledgee, (1) deposited into an account designated and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws. 2.3 Pledgor may subscribe for capital increase in Party C only with prior written consent of Pledgee. Any equity interest obtained by Pledgor as a result of PledgorXxxxxxx’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest. 2.4 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to Pledgor upon Party C’s dissolution or liquidation (after deduction of all applicable taxes paid by Pledgor) shall, upon the request of the Pledgee, be (1) deposited into an account designate and supervised by Pledgee and used to secure the Contract Obligations and pay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated to Pledgee or any other person designated by Pledgee to the extent permitted under applicable PRC laws.

Pledge. 2.1 Pledgor agrees to pledge all the Equity Interest as As security for the performance of the Contract Contractual Obligations and payment repayment of the Secured Indebtedness under this Agreement. Indebtedness, the Pledgors hereby pledge and Party C hereby assents agrees that Pledgor pledges the Pledgors pledge in favor of the Pledgee the Equity Interest held by them in Party C pursuant to the Pledgee pursuant to provisions of this Agreement. 2.2 The validity of the security hereunder shall not in any way be affected by any amendment or change to the Transaction Documents. The security hereunder shall remain valid and enforceable for the obligations of the Pledgors and Party C under the Transaction Documents as amended. In the event that any Transaction Documents is invalid, cancelled or rescinded due to any reason, the Pledgee shall have the right to immediately enforce the Pledge in accordance with Article 8 of this Agreement. 2.3 During the term Term of the Pledge, the Pledgee is entitled shall have the right to receive any dividends or bonuses distributed on with respect to the Equity InterestEquity. Pledgor The Pledgors may receive dividends or bonuses distributed on with respect to the Equity Interest only with the prior written consent of the Pledgee. Dividends After deduction of the relevant taxes and fees paid by the Pledgors in accordance with applicable laws, the dividends or bonuses received by Pledgor on the Pledgors with respect to the Equity Interest after deduction of individual income tax paid by Pledgor shall be, as required requested by the Pledgee, (1) deposited into an account designated and supervised by Pledgee and the Pledgee, placed under the supervision of the Pledgee, used to secure the Contract Contractual Obligations and pay repay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated given to the Pledgee or any other person a third party designated by the Pledgee without consideration to the extent permitted under not inconsistent with applicable PRC laws. 2.3 Pledgor 2.4 The Pledgors may subscribe for increase the registered capital increase in of Party C only with the prior written consent of the Pledgee. Any equity interest obtained increase in the capital contribution by Pledgor the Pledgors to the registered capital of Party C as a result of Pledgor’s subscription of the increased registered any capital of the Company increase shall also be deemed as bound by this Agreement. The Parties shall make their best efforts to amend and execute relevant documents and complete the Equity Interestpledge registration formalities. 2.4 2.5 In the event that Party C is required by PRC law to be liquidated or dissolveddissolved in accordance with the mandatory provisions of the PRC laws, any interest benefits lawfully distributed to Pledgor the Pledgors from Party C upon Party C’s dissolution or liquidation shallaccording to the law shall be, upon the request of as requested by the Pledgee, be (1) deposited into an account designate and supervised designated by Pledgee and the Pledgee, placed under the supervision of the Pledgee, used to secure the Contract Contractual Obligations and pay repay the Secured Indebtedness prior and in preference to make any other payment; or (2) unconditionally donated given to the Pledgee or any other person a third party designated by the Pledgee without consideration to the extent permitted under not inconsistent with applicable PRC laws. 2.6 During the term of this Agreement, the Pledgee shall not be liable for any reduction in the value of the Equity, nor shall the Pledgors have the right to claim in any way or make any demand against the Pledgee in respect thereof, unless such reduction results from the intentional misconduct or gross negligence of the Pledgee directly. 2.7 Subject to the provisions of Article 2.6 above, in case of any possibility of obvious reduction in the value of the Equity, which is enough to jeopardize the Pledgee’s rights, the Pledgee may require the Pledgors to provide corresponding security, and may auction or sell the Equity on behalf of the Pledgors at any time, and agree with the Pledgors with respect to the use of the proceeds from such auction or sale as prepayment of the Secured Indebtedness, or the submission of such proceeds to the local notary institution where the Pledgee is domiciled (any fees incurred in relation thereto shall be fully borne by the Pledgors). 2.8 The Pledgee shall enjoy the first ranking security interests in the Equity. Upon the occurrence of any Event of Breach, the Pledgee shall have the right to dispose of the Equity in accordance with the provisions of Article 8 of this Agreement. 2.9 Upon the occurrence of any Event of Breach, the Pledgee shall have the right to dispose of any Equity held by the Pledgors in accordance with the provisions of this Agreement.