Common use of Scope of Security Clause in Contracts

Scope of Security. The scope of security of the Pledged Shares hereunder covers all obligations or debts of Party B and/or Party C and Party C’s Subordinate Entities arising out of the Principal Contracts, including but not limited to the management and consulting service fees, interests, damages, compensation, costs for realizing the creditors’ rights, and damages and all the other payable incurred by Party A because of breaches by Party B and/or Party C and Party C’s Subordinate Entities, which arise out of the Principal Contracts and shall be paid to Party A by Party B and/or Party C and Party C’s Subordinate Entities. The scope of security hereunder shall be limited to the above creditors’ rights secured. The parties confirm that, in the event that relevant industry and commerce authority requires clarification of the amount of creditors’ rights covered by the scope of security during the process of share pledge registration, only for the purpose of such registration, the parties agree to register the amount of the creditors’ rights hereunder as composed of the principal of XXX 00 million and the amount of all and any default liability and the amount of damages under relevant contracts. The parties further confirm that the clarification of the above clarification for purpose of share pledge registration shall not impair or limit Party A’s rights or interests enjoyed as guarantee in accordance with relevant Principal Contracts and this Agreement.

Scope of Security. The scope of security of the Pledged Shares hereunder covers all obligations or debts of Party B and/or Party C and Party C’s Subordinate Entities arising out of the Principal Contracts, including but not limited to the management and consulting service fees, interests, damages, compensation, costs for realizing the creditors’ rights, and damages and all the other payable incurred by Party A because of breaches by Party B and/or Party C and Party C’s Subordinate Entities, which arise out of the Principal Contracts and shall be paid to Party A by Party B and/or Party C and Party C’s Subordinate Entities. The scope of security hereunder shall be limited to the above creditors’ rights secured. The parties confirm that, in the event that relevant industry and commerce market regulation authority requires clarification of the amount of creditors’ rights covered by the scope of security during the process of share pledge registration, only for the purpose of such registration, the parties agree to register the amount of the creditors’ rights hereunder as composed of the principal of XXX 00 RMB 50 million and the amount of all and any default liability and the amount of damages under relevant contracts. The parties further confirm that the clarification of the above clarification for purpose of share pledge registration shall not impair or limit Party A’s rights or interests enjoyed as guarantee in accordance with relevant Principal Contracts and this Agreement.