Common use of Share Pledge Agreement Clause in Contracts

Share Pledge Agreement. Subject to the acceptance of relevant foreign exchange reporting, the Sellers shall enter into a share pledge agreement (the “Share Pledge Agreement”) with the Purchaser in the form set forth under Exhibit 5.1(10), whereby the Sellers shall pledge the Sale Shares in favor of the Purchaser as the pledgee to secure the performance of the Sellers’ obligations under this Agreement. The Sellers shall promptly proceed with the relevant foreign exchange reporting after the execution of this Agreement, and the Share Pledge Agreement shall be executed immediately after the acceptance of such reporting; provided, however, the Share Pledge Agreement shall in any event be executed no later than seven (7) Business Days from the Effective Date, which period may be extended upon mutual agreement of the Parties.

Share Pledge Agreement. Subject to the acceptance of relevant foreign exchange reporting, the Sellers Seller shall enter into a share pledge agreement (the “Share Pledge Agreement”) with the Purchaser in the form set forth under Exhibit 5.1(10), whereby the Sellers Seller shall pledge the Sale Shares in favor of the Purchaser as the pledgee to secure the performance of the Sellers’ Seller’s obligations under this Agreement. The Sellers Seller shall promptly proceed with the relevant foreign exchange reporting after the execution of this Agreement, and the Share Pledge Agreement shall be executed immediately after the acceptance of such reporting; provided, however, the Share Pledge Agreement shall in any event be executed no later than seven (7) Business Days from the Effective Date, which period may be extended upon mutual agreement of the Parties.