Common use of Term of Pledge Clause in Contracts

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 15 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered has been registered’ with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. fulfilled by Party C. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days three (3) months following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Exclusive Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and fulfilled by Party C shall (1) register the Pledge in the shareholders’ register of Party C C. The parties agree that within 3 business days following the execution of this Agreement, Pledgor and (2) Party C shall register the Pledge in the shareholders’ register of Party C, and within 10 business days after the competent AIC has formally begun accepting applications for the registration of equity interest pledge, Pledgor and Party C shall submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreementherein. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible within 20 business days after submission for filingfiling (or such other time period normally required by the relevant AIC). 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have has been fully paid. The Pledgor and Party C the Company shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties Parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C the Company which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. The Pledgor and Party C the Company shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of the Pledge, in the event the Pledgor and/or Party C the Company fails to perform the Contract Obligations or pay Secured Indebtedness, the Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. fulfilled by Party C. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days three (3) months following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties Parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations have been fully performed the Master Exclusive Service Agreement, the Exclusive Option Agreement and all Secured Indebtedness have been fully paidthe Power of Attorney expire or terminate. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C The parties agree that within 3 business days following the execution of this Agreement, Pledgor and (2) Party C shall register the Pledge in the shareholders’ register of Party C, and within 10 business days after the competent AIC has formally begun accepting applications for the registration of equity interest pledge, Pledgor and Party C shall submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreementherein. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible within 20 business days after submission for filingfiling (or such other time period normally required by the relevant AIC). 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 10 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days 3 months following the execution of this Agreement. The parties Parties covenant that for the purpose of registration of the Pledge, the parties Parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties Parties shall be bound by the provisions of this Agreement. Pledgor and Party C The Parties shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event that Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such as of the date when the pledge of the Equity Interest contemplated herein is registered with relevant the local administration for of industry and commerce (the “AICRegistration Authority”). The Term of the Pledge (the “Term of Pledge Authority”) shall remain effective until all Contract end when the Contractual Obligations have been fully performed and all the Secured Indebtedness have been secured by the Pledge are paid or fully paidfulfilled. The Parties agree that, promptly after the execution of this Agreement (but in no event later than 20 days from the execution date of this Agreement), Pledgor and Party A shall submit their application for pledge registration to the Registration Authority in accordance with the Measures on Equity Pledge Registration with the Administration of Industry and Commerce. The Parties also agree that within fifteen (15) days as of the Registration Authority officially commences the acceptance of equity pledge application, Pledgor and Party C shall (1) complete the pledge registration procedure, obtain the pledge registration notice and completely and accurately register the Pledge in of Equity Interest on the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration Pledge Registration Book of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this AgreementRegistration Authority. The parties covenant that Parties jointly acknowledge that, for the purpose of completing equity pledge registration of the Pledgeformalities, the parties hereto and all other shareholders of Party C Parties shall submit to the AIC this Agreement or an equity interest pledge contract which is executed in the form required requested by the AIC at administrative authority for industry and commerce in the location locality of Party C which shall and truly reflect reflects the information of regarding the Pledge hereunder (the “AIC Pledge ContractContract for Industrial and Commercial Registration”)) to the administrative authority for industry and commerce. For This Agreement shall apply to the matters not specified mentioned in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor Contract for Industrial and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filingCommercial Registration. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Contractual Obligations or pay repay the Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 3.1. The Pledge shall become effective on such date when the pledge of the Pledged Equity Interest contemplated herein is has been registered with the relevant administration for industry and commerce (the “AIC”)commerce. The Pledge shall remain effective be continuously valid until all Contract full performance of the Contractual Obligations have been fully performed and all full satisfaction of the Secured Indebtedness have been fully paidIndebtedness. Pledgor The Pledgors and Party C shall shall, (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC relevant administration for industry and commerce for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties Parties covenant that for the purpose of registration of the PledgePledged Equity Interest, the parties hereto Parties and all other shareholders of Party C shall submit to the AIC administration of industry and commerce this Agreement or an equity interest pledge contract agreement in the form required by the AIC at the location administration of industry and commerce of where Party C locates, which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge ContractAgreement”). For matters not specified in the AIC Pledge ContractAgreement, the parties shall be bound by the provisions of this Agreement. Pledgor The Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AICadministration of industry and commerce, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 3.2. During the Term of Pledge, in the event Pledgor the Pledgors and/or Party C fails fail to perform fulfill the Contract Contractual Obligations or pay the Secured Indebtedness, the Pledgee shall have the rightbe entitled to, but not the obligationbe obliged to, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations and Secured Indebtedness have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations Obligation or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 3.1. The Pledge shall become effective on such date when the pledge of the Pledged Equity Interest contemplated herein is has been registered with the relevant administration for industry and commerce (the “AIC”)commerce. The Pledge shall remain effective be continuously valid until all Contract full performance of the Contractual Obligations have been fully performed and all full satisfaction of the Secured Indebtedness have been fully paidIndebtedness. Pledgor The Pledgors and Party C shall shall, (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC relevant administration for industry and commerce for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties Parties covenant that for the purpose of registration of the PledgePledged Equity Interest, the parties hereto Parties and all other shareholders of Party C shall submit to the AIC administration of industry and commerce this Agreement or an equity interest pledge contract agreement in the form required by the AIC administration of industry and commerce at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge ContractAgreement”). For matters not specified in the AIC Pledge ContractAgreement, the parties shall be bound by the provisions of this Agreement. Pledgor The Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AICadministration of industry and commerce, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 3.2. During the Term of Pledge, in the event Pledgor the Pledgors and/or Party C fails fail to perform fulfill the Contract Contractual Obligations or pay the Secured Indebtedness, the Pledgee shall have the rightbe entitled to, but not the obligationbe obliged to, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 15 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor Pledgors and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”)market regulatory authority. The Pledge shall remain effective be continuously valid until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. The Pledge shall be continuously valid until all payments due under the Equity Interest contemplated herein have been fulfilled by Party C. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC relevant market regulatory authority for the registration of the Pledge of the Equity Interest contemplated herein within 30 thirty (30) business days following the execution of this Agreement. The parties Parties covenant that if required by the market regulatory authority, for the purpose of registration of the Pledge, the parties Parties hereto and all other shareholders of Party C shall submit to the AIC relevant market regulatory authority this Agreement or an equity interest pledge contract in the form required by the AIC at the market regulatory authority of location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in Provided, however, that all pledges of the AIC Pledge Contract, the parties Equity Interest shall be bound by subject to the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AICcompetent market regulatory authority, to ensure that the Pledge of the Equity Interest shall be registered with the AIC relevant market regulatory authority as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge , and thereafter shall remain effective be continuously valid until (1) all Contract Obligations have been fully performed fulfilled and all Secured Indebtedness have been fully paid. Pledgor repaid up, or (2) if the Pledgee and/or its designee decides to purchase all the equity interests held by the Pledgors in Party C in accordance with Exclusive Option Agreement to the extent as permitted by PRC laws, the equity interests of Party C have been transferred to the Pledgee and/or its designee in accordance with law and Pledgee and/or its designee have been legally qualified to engage in business of Party C. The Pledgors and Party C shall (1) register the Pledge hereof in the shareholders’ register of Party C within 3 business days following on the execution of this Agreement, date hereof and (2) submit an application the Pledgors shall handle the industrial and commercial registration relating to the AIC for Pledge on the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreementsame day. The parties covenant Parties jointly confirm that for the purpose of registration of registering the PledgePledge with the industrial and commercial administration, the parties hereto and all other shareholders Parties shall, upon request of Party C shall A, submit to the AIC a copy of this Agreement or an equity interest pledge contract agreement executed in the form required by the AIC at the location of local industrial and commercial administration where Party C which shall truly reflect the information of the Pledge hereunder resides (the “AIC Equity Pledge ContractAgreement”)) to the industrial and commercial administration. For matters not specified in the Where there is any inconsistency between AIC Equity Pledge Contract, the parties shall be bound by the provisions of Agreement and this Agreement, this Agreement shall prevail. Pledgor The Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by pursuant to the PRC laws and regulations and the requirements of relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor the Pledgors and/or Party C fails fail to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when take effect upon the pledge completion of registration of the Pledged Equity Interest contemplated herein is registered under this Agreement with relevant competent administration for industry and commerce (the “AIC”)commerce. The Pledge shall remain effective until (1) all Contract Contractual Obligations have been fully performed and all Secured Indebtedness Liabilities have been fully paid. , or (2) the Pledgee and/or the Designee(s) decide to purchase all Pledge Equity Interest held by the Pledgor in Party C under the Exclusive Call Option Agreement, and all Equity Interest in Party C has been lawfully transferred to the Pledgee and/or the Designee(s), and the Pledgee and the Designee(s) can lawfully engage in the business of Party C. The Pledgee and Party C shall (1i) register the Pledge under this Agreement in the shareholders’ register of shareholders of Party C within 3 three (3) business days following from the execution date of this Agreement, and (2ii) submit an application to the AIC apply for the registration of the Pledge of under this Agreement with the Equity Interest contemplated herein competent administration for industry and commerce within 30 thirty (30) business days following from the execution date of this Agreement. The parties covenant that Parties jointly confirm that, for the purpose of registration of the PledgePledge with the competent administration for industry and commerce, the parties hereto Parties and all other shareholders of Party C shall submit to the AIC competent administration for industry and commerce a copy of this Agreement or an equity interest pledge contract agreement made in the form required by the AIC at the location of administration for industry and commerce having jurisdiction over Party C which shall truly reflect and reflecting the information of the Pledge hereunder pledge under this Agreement (hereinafter referred to as the “AIC Industrial and Commercial Registration Pledge Contract”). For matters Matters not specified in provided for under the AIC Industrial and Commercial Registration Pledge Contract, the parties Contract shall be bound by the provisions of subject to this Agreement. The Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, formalities as required by the PRC laws and regulations of the PRC and various requirements of the relevant AIC, administration for industry and commerce to ensure that the Pledge of the Equity Interest shall be is registered with the AIC as soon as possible practicable after the submission for filingof application. 3.2 During the Term of Pledge, in if the event Pledgor and/or Party C fails to perform the Contract Contractual Obligations or pay the Secured IndebtednessLiabilities, the Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce market regulation (the “AICAMR”). The Pledge , and thereafter shall remain effective be continuously valid until all Contract Obligations have been fully performed fulfilled and all Secured Indebtedness have been fully paidrepaid up. Pledgor Pledgors and Party C shall (1) register the Pledge hereof in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for fulfill the registration of the Pledge of the Equity Interest contemplated herein within 30 business days hereof at AMR as soon as possible following the execution of this Agreement. The parties covenant Parties jointly confirm that for the purpose of registration of registering the PledgePledge with the AMR, the parties hereto Parties and all other shareholders of Party C shall shall, submit to the AIC a copy of this Agreement or an equity interest pledge contract agreement executed in the form required by the AIC at the location of local AMR where Party C resides which shall truly reflect the information of the Pledge hereunder (the “AIC AMR Equity Pledge ContractAgreement”)) to the AMR. For matters not specified in the AIC Where there is any inconsistency between AMR Equity Pledge ContractAgreement and this Agreement and Transaction Documents, the parties this Agreement and Transaction Documents shall be bound by the provisions of this Agreementprevail. Pledgor Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by pursuant to the PRC laws and regulations and the requirements of relevant AICAMR, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of the Pledge, in the event Pledgor the Pledgors and/or Party C fails fail to perform the Contract Obligations or pay Secured Indebtedness, the Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered has been registered’ with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paidthe expiring date or early termination date under the Option Agreement. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform breaches the Contract Obligations or pay Secured IndebtednessOption Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 3.1. The Pledge shall become effective on such date when the pledge of the Pledged Equity Interest contemplated herein is has been registered with the relevant administration for industry and commerce (the “AIC”)commerce. The Pledge shall remain effective be continuously valid until all Contract full performance of the Contractual Obligations have been fully performed and all full satisfaction of the Secured Indebtedness have been fully paidIndebtedness. The Pledgor and Party C shall shall, (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC relevant administration for industry and commerce for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties Parties covenant that for the purpose of registration of the PledgePledged Equity Interest, the parties hereto Parties and all other shareholders of Party C shall submit to the AIC administration for industry and commerce this Agreement or an equity interest pledge contract agreement in the form required by the AIC at the location administration for industry and commerce of where Party C locates, which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge ContractAgreement”). For matters not specified in the AIC Pledge ContractAgreement, the parties shall be bound by the provisions of this Agreement. The Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AICadministration for industry and commerce, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 3.2. During the Term of Pledge, in the event the Pledgor and/or Party C fails fail to perform fulfill the Contract Contractual Obligations or pay the Secured Indebtedness, the Pledgee shall have the rightbe entitled to, but not the obligationbe obliged to, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge as of the Equity Interest contemplated herein is registered date of its registration with relevant the local administration for industry and commerce market regulation authority (the “AICRegistration Authority”). ) in the domicile of Party C. The term of the Pledge (the “Term of Pledge”) shall remain effective terminate until all Contract the Agreementual Obligations and the Secured Indebtedness, for which the Pledge provides security, have been fully performed and all Secured Indebtedness have been fully paidor repaid. The parties agree that Pledgor and Party C shall (1) register shall, within the Pledge period required by Pledgee and in the shareholders’ register of Party C within 3 business days following the execution of this Agreementaccordance with relevant applicable laws and regulations, and (2) submit an application for the set-up registration of the pledge of shares to the AIC Registration Authority, correspondingly complete all the formalities for the registration of the Pledge pledge of all shares and obtain the Equity Interest contemplated herein within 30 business days following registration notice issued by the execution Registration Authority. The Registration Authority shall completely and accurately record the pledge of this Agreementshares in the register of pledge of shares. The parties covenant jointly confirm that if necessary for the purpose of registration of the Pledgepledge of shares, the parties Parties hereto and all other shareholders of Party C (if any) shall submit to the AIC Registration Authority this Agreement or an equity interest a share pledge contract agreement executed in the form required by the AIC at Registration Authority in the location domicile of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge ContractAgreement for Registration Purposes”). For matters not specified in the AIC Pledge ContractAgreement for Registration Purposes, the parties Parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that In case of any inconsistency between the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission Agreement for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of Registration Purposes and this Agreement, this Agreement shall prevail.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Transaction Documents have been fully performed and all Secured Indebtedness have been fully paid. fulfilled by Party C. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business three (3) working days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business ten (10) working days following the execution of this Agreement. The parties covenant that for the purpose of registration of the PledgePledge (including re-registration of the Pledge when the percentage of equity interest the Pledgor holds in Party C changes), the parties hereto and all other shareholders of Party C shall submit to the AIC the Equity Interest Pledge Contract as set forth in the Attachment 7 of this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in In case that there is any discrepancy between the AIC Pledge ContractContract and this Agreement, the parties shall be bound by the provisions of this AgreementAgreement shall prevail. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform any of its obligations in accordance with the Contract Obligations or pay Secured IndebtednessTransaction Documents, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such as of the date when the pledge of the Equity Interest contemplated herein it is registered with relevant the local administration for industry and commerce (“Registration Authority”) in the place of Party C. The term of the Pledge (“AICTerm of Pledge”)) shall end when the last batch of Contract Obligation and Secured Obligation secured by the Pledge is fully fulfilled or repaid. The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following Parties agree that, promptly after the execution of this Agreement, Pledgors and Party A shall submit their application for equity pledge registration with the Registration Authority in accordance with the Measures on Equity Pledge Registration with the Administration for Industry and Commerce. The Parties further agree that within fifteen (215) submit an application to days of formal acceptance by the AIC for the registration Registration Authority of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledgeequity pledge application, the parties hereto Pledgors and all other shareholders of Party C shall complete the equity pledge registration and obtain the registration notice issued by the Registration Authority. The Parties acknowledge that in order to complete the equity pledge registration, the Parties shall submit to the AIC this Agreement or an equity interest pledge contract agreement reflecting the Pledge hereunder and signed in the form as required by the AIC local Registration Authority (“Equity Pledge Agreement for Registration”) to the Registration Authority at the location place of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters C. Anything not specified stated in the AIC Equity Pledge Contract, the parties shall Agreement for Registration will be bound governed by the provisions of this Agreement. Pledgor Pledgors and Party C shall submit all such necessary documents and complete all undertake such necessary procedures, procedures as required by the PRC laws and regulations and applicable requirements of the relevant AIC, Registration Authority to ensure that the Pledge of the Equity Interest shall be is registered with the AIC as soon as possible after submission for filingsubmission. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C if Company fails to perform the Contract Obligations or pay repay the Secured IndebtednessObligations as agreed, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations and Secured Indebtedness have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ ' register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations Obligation or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge as of the Equity Interest contemplated herein is registered date of its registration with relevant the local administration for industry and commerce market regulation authority (the “AICRegistration Authority”). ) in the domicile of Party C. The term of the Pledge (the “Term of Pledge”) shall remain effective terminate until all Contract the Agreementual Obligations and the Secured Indebtedness, for which the Pledge provides security, have been fully performed and all Secured Indebtedness have been fully paidor repaid. Pledgor The parties agree that the pledgors and Party C shall (1) register shall, within the Pledge period required by the pledgee and in the shareholders’ register of Party C within 3 business days following the execution of this Agreementaccordance with relevant applicable laws and regulations, and (2) submit an application for the set-up registration of the pledge of shares to the AIC Registration Authority, correspondingly complete all the formalities for the registration of the Pledge pledge of all shares and obtain the Equity Interest contemplated herein within 30 business days following registration notice issued by the execution Registration Authority. The Registration Authority shall completely and accurately record the pledge of this Agreementshares in the register of pledge of shares. The parties covenant jointly confirm that if necessary for the purpose of registration of the Pledgepledge of shares, the parties Parties hereto and all other shareholders of Party C (if any) shall submit to the AIC Registration Authority this Agreement or an equity interest a share pledge contract agreement executed in the form required by the AIC at Registration Authority in the location domicile of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge ContractAgreement for Registration Purposes”). For matters not specified in the AIC Pledge ContractAgreement for Registration Purposes, the parties Parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that In case of any inconsistency between the Pledge of the Equity Interest Agreement for Registration Purposes and this Agreement, this Agreement shall be registered with the AIC as soon as possible after submission for filingprevail. 3.2 During the Term of Pledge, in the event Pledgor Pledgors and/or Party C fails to perform the Contract Agreementual Obligations or pay repay the Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations and Secured Indebtedness have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) deregister the pledge under the Old Agreement, and register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for deregistration of the pledge under the Old Agreement and the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations Obligation or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered has been registered’ with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. fulfilled by Party C. Pledgor and Party C shall (1) register the Pledge in the shareholders’ ' register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 60 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the PledgePledge (including re-registration of the Pledge when the percentage of equity interest the Pledgor holds in Party C), the parties hereto and all other shareholders of Party C shall submit to the AIC the Equity Interest Pledge Contract as set forth in the Attachment 4 of this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce market regulation (the “AICAMR”). The Pledge , and thereafter shall remain effective be continuously valid until all Contract Obligations have been fully performed fulfilled and all Secured Indebtedness have been fully paidrepaid up. The Pledgor and Party C shall (1) register the Pledge hereof in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an the application to the AIC for the registration of the Pledge of hereof at the Equity Interest contemplated herein AMR within 30 business days following the execution of this Agreement. The parties covenant Parties jointly confirm that for the purpose of registration of registering the PledgePledge with the AMR, the parties hereto Parties and all other shareholders of Party C shall shall, submit to the AIC a copy of this Agreement or an equity interest pledge contract agreement executed in the form required by the AIC at the location of local AMR where Party C resides which shall truly reflect the information of the Pledge hereunder (the “AIC AMR Equity Pledge ContractAgreement”)) to the AMR. For matters not specified in the AIC Where there is any inconsistency between AMR Equity Pledge ContractAgreement and this Agreement and Transaction Documents, the parties this Agreement and Transaction Documents shall be bound by the provisions of this Agreementprevail. The Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by pursuant to the PRC laws and regulations and the requirements of relevant AICAMR, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of the Pledge, in the event the Pledgor and/or Party C fails fail to perform the Contract Obligations or pay Secured Indebtedness, the Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. Pledgor fulfilled by Party C. Pledgors and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 15 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations or pay Secured Indebtednessexclusive service fees in accordance with the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce market regulation (the “AICAMR”). The Pledge , and thereafter shall remain effective be continuously valid until all Contract Obligations have been fully performed fulfilled and all Secured Indebtedness have been fully paidrepaid up. Pledgor Pledgors and Party C shall (1) register the Pledge hereof in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for fulfill the registration of the Pledge hereof at AMR as soon as possible following the execution of the Equity Interest contemplated herein within 30 business days this Agreement but shall be no later than one year following the execution of this Agreement. The parties covenant Parties jointly confirm that for the purpose of registration of registering the PledgePledge with the AMR, the parties hereto Parties and all other shareholders of Party C shall shall, submit to the AIC a copy of this Agreement or an equity interest pledge contract agreement executed in the form required by the AIC at the location of local AMR where Party C resides which shall truly reflect the information of the Pledge hereunder (the “AIC AMR Equity Pledge ContractAgreement”)) to the AMR. For matters not specified in the AIC Where there is any inconsistency between AMR Equity Pledge ContractAgreement and this Agreement and Transaction Documents, the parties this Agreement and Transaction Documents shall be bound by the provisions of this Agreementprevail. Pledgor Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by pursuant to the PRC laws and regulations and the requirements of relevant AICAMR, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of the Pledge, in the event Pledgor the Pledgors and/or Party C fails fail to perform the Contract Obligations or pay Secured Indebtedness, the Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry the corresponding industrial and commerce (the “AIC”)commercial administration. The Pledge shall remain effective until all Contract Contractual Obligations have been fully performed and all Secured Indebtedness have has been fully paid. Pledgor The Pledgors and Party C shall (1) register the Pledge of this Agreement in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC corresponding industrial and commercial administration for the registration of the Pledge of the Equity Interest contemplated herein under this Agreement within 30 15 business days following the execution of this Agreement. The parties Parties covenant that for the purpose of registration of the Pledge, the parties Parties hereto and all other shareholders of Party C shall submit to the AIC industrial and commercial administration this Agreement or an a signed equity interest pledge contract in the form required by the AIC industrial and commercial administration at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Industrial And Commercial Administration Pledge Contract”). For matters not specified in the AIC Industrial And Commercial Administration Pledge Contract, the parties Parties shall be bound by the provisions of this Agreement. Pledgor The Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AICindustrial and commercial administration, to ensure that the Pledge registration of the Equity Interest shall Pledge would be registered with the AIC accepted as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor the Pledgors and/or Party C fails fail to perform the Contract Contractual Obligations or pay repay Secured Indebtedness, the Pledgee shall have the rightbe entitled, but not the obligationobligated, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C the Company shall (1) register the Pledge in the shareholders’ register of Party C the Company within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties Parties covenant that for the purpose of registration of the Pledge, the parties hereto and (and/or all other possible shareholders of Party C the Company from time to time in future) shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C the Company which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties Parties shall be bound by the provisions of this Agreement. Pledgor and Party C the Company shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C the Company fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement, the Framework Agreement, the Loan Agreement and the Exclusive Option Agreement have been fully performed and all Secured Indebtedness have been fully paid. Pledgor fulfilled by Party D. Pledgors and Party C D shall (1) register the Pledge in the shareholders’ register of Party C D within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the PledgePledge (including re-registration of the Pledge when the percentage of equity interest the Pledgors hold in Party D), the parties Parties hereto and all other shareholders of Party C shall submit to the AIC the Equity Interest Pledge Contract as set forth in the Attachment 4 of this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C D which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor Pledgors and Party C D shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C D fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement, or Party B fails to repay and loan and the accrued interest in accordance with the Loan Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have has been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties Parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce market regulation (the “AICAMR”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC AMR for the registration of the Pledge of the Equity Interest contemplated herein within 30 15 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC AMR this Agreement or an equity interest pledge contract in the form required by the AIC AMR at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC AMR Pledge Contract”). For matters not specified in the AIC AMR Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AICAMR, to ensure that the Pledge of the Equity Interest shall be registered with the AIC AMR as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have has been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following on the execution of this Agreementdate hereof. The parties covenant that for the purpose of registration of the Pledge, the parties Parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the conflicts between this Agreement and the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor Pledgors and Party C shall (1) register the Pledge in the shareholders’ shareholders register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor Pledgors and/or Party C fails to perform the Contract Obligations or pay Secured IndebtednessIndebtedness in any material aspect, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered ‘with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. The Pledge shall be continuously valid until all payments due under the Business Cooperation Agreement have been fulfilled by Party C. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For ) .For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor Pledgors and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 10 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days 3 months following the execution of this AgreementAgreement or such other time as agreed by the Parties. The parties Parties covenant that for the purpose of registration of the Pledge, the parties Parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties Parties shall be bound by the provisions of this Agreement. Pledgor and Party C The Parties shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event that Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest EquityInterest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until (1) all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. , or (2) to the extent permitted under the PRC law, Pledgee and/or the Designee (s) have decided to purchase all the Equity Interest held by Pledgor in Party C according to the Exclusive Option Agreement, and all Equity Interest in Party C has been lawfully transferred to Pledgee and/or the Designee (s) can lawfully engage in the business of Party C. The Pledge shall be continuously valid until all payments due under the Business CooperationAgreement have been fulfilled by Party C. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of shareholdersof Party C shall submit to the AIC this Agreement or an equity interest equityinterest pledge contract in the form required by the AIC at the location thelocation of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For ) .For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party andParty C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the righttheright, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 3.1. The Pledge shall become effective on such date when the pledge of the Pledged Equity Interest contemplated herein is has been registered with the relevant administration for industry and commerce (the “AIC”)commerce. The Pledge shall remain effective be continuously valid until all Contract (i) full performance of the Contractual Obligations have been fully performed and all full satisfaction of the Secured Indebtedness have been fully paidIndebtedness, or (ii) the date when Warner has received the equity interests of WT2 held by TME HK pursuant to Section 25.9 of the Joint Venture Agreement. The Pledgor and Party C shall OpCo shall, (1) register the Pledge in the shareholders’ register of Party C OpCo within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC relevant administration for industry and commerce for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties Parties covenant that for the purpose of registration of the PledgePledged Equity Interest, the parties hereto Parties and all other shareholders of Party C OpCo shall submit to the AIC administration of industry and commerce this Agreement or an equity interest pledge contract agreement in the form required by the AIC at the location administration of Party C industry and commerce of where OpCo locates, which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge ContractAgreement”). For matters not specified in the AIC Pledge ContractAgreement, the parties shall be bound by the provisions of this Agreement. The Pledgor and Party C OpCo shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AICadministration of industry and commerce, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 3.2. During the Term of Pledge, in the event the Pledgor and/or Party C fails OpCo fail to perform fulfill the Contract Contractual Obligations or pay the Secured Indebtedness, the Pledgee shall have the rightbe entitled to, but not the obligationbe obliged to, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have has been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. term as agreed upon by Party A. The parties covenant that for the purpose of registration of the Pledge, the parties Parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. The Pledge shall be continuously valid until all payments due under the Business Cooperation Agreement have been fulfilled by Party C. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For ) .For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor Pledgors and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have has been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 three (3) business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 ten (10) business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties Parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement, the Loan Agreements and the Exclusive Option Agreement have been fully performed and all Secured Indebtedness have been fully paid. Pledgor fulfilled by Party D. Pledgors and Party C D shall (1) register the Pledge in the shareholders’ register of Party C D within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the PledgePledge (including re-registration of the Pledge when the percentage of equity interest the Pledgors hold in Party D), the parties Parties hereto and all other shareholders of Party C shall submit to the AIC the Equity Interest Pledge Contract as set forth in the Attachment 4 of this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C D which shall truly reflect the information of the Pledge hereunder (the ““ AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor Pledgors and Party C D shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party D fails to pay the exclusive consulting or service fees in accordance with the Business Cooperation Agreement, or Party B or Party C fails to perform repay and loan and the Contract Obligations or pay Secured Indebtednessaccrued interest in accordance with the Loan Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. ​ 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration State Administration for industry and commerce Market Regulation (the “AICSAMR”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC SAMR for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC SAMR this Agreement or an equity interest pledge contract in the form required by the AIC SAMR at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC SAMR Pledge Contract”). For ​ matters not specified in the AIC SAMR Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AICSAMR, to ensure that the Pledge of the Equity Interest shall be registered with the AIC SAMR as soon as possible after submission for filing.. ​ 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 【3】 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 【15】 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement, the Framework Agreement and the Exclusive Option Agreement have been fully performed and all Secured Indebtedness have been fully paid. Pledgor fulfilled by Party F. Pledgors and Party C F shall (1) register the Pledge in the shareholders’ register of Party C F within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the PledgePledge (including re-registration of the Pledge when the percentage of equity interest the Pledgors hold in Party F), the parties Parties hereto and all other shareholders of Party C shall submit to the AIC the Equity Interest Pledge Contract as set forth in the Attachment 4 of this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C F which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor Pledgors and Party C F shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C F fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have has been fully paid. The Pledgor and Party C the Company shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties Parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C the Company which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. The Pledgor and Party C the Company shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 . During the Term of the Pledge, in the event the Pledgor and/or Party C the Company fails to perform the Contract Obligations or pay Secured Indebtedness, the Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. fulfilled by Party C. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration State Administration for industry and commerce Market Regulation (the “AICSAMR”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC SAMR for the registration of the Pledge of the Equity Interest contemplated herein within 30 15 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC SAMR this Agreement or an equity interest pledge contract in the form required by the AIC SAMR at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC SAMR Pledge Contract”). For matters not specified in the AIC SAMR Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AICSAMR, to ensure that the Pledge of the Equity Interest shall be registered with the AIC SAMR as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered has been registered’ with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. fulfilled by Party C. Pledgor and Party C shall (1) register the Pledge in the shareholders’ ' register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days three (3) months following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations and Secured Indebtedness have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) deregister the pledge under the Old Agreement, and register the Pledge in the shareholders’ ' register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for deregistration of the pledge under the Old Agreement and the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing.. 秘密文件 Strictly Confidential 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations Obligation or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when from the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”)Effective Date. The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C the Company shall (1) register the Pledge in the shareholders’ register of Party C the Company within 3 business days following the execution of this Agreement, and (2) if applicable, submit an application to the AIC relevant registration authority (the “Registration Authority”) for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, if applicable, the parties hereto and all other shareholders of Party C the Company shall submit to the AIC Registration Authority this Agreement or an equity interest pledge contract in the form required by the AIC Registration Authority at the location of Party C the Company which shall truly reflect the information of the Pledge hereunder (the “AIC Registration Authority Pledge Contract”). For matters not specified in the AIC Registration Authority Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C the Company shall submit all necessary documents and complete all necessary procedures, as required by the PRC applicable laws and regulations and the relevant AICRegistration Authority, if applicable, to ensure that the Pledge of the Equity Interest shall be registered with the AIC Registration Authority as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C the Company fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for f01 industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. Pledgor fulfilled by Party C. The Pledgors and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 15 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other othe1 shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties Parties shall be bound by the provisions of this Agreement. Pledgor The Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement, the Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered has been registered’ with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. fulfilled by Party C. Pledgor and Party C shall (1) register the Pledge in the shareholders’ ' register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days three (3) months following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered has been registered’ with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. fulfilled by Party C. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the PledgePledge (including re-registration of the Pledge when the percentage of equity interest the Pledgor holds in Party C), the parties hereto and all other shareholders of Party C shall submit to the AIC the Equity Interest Pledge Contract as set forth in the Attachment 4 of this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered has been registered’ with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. Pledgor fulfilled by Party G. Pledgors and Party C G shall (1) register the Pledge in the shareholders’ register of Party C G within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the PledgePledge (including re-registration of the Pledge when the percentage of equity interest the Pledgors hold in Party G), the parties Parties hereto and all other shareholders of Party C shall submit to the AIC the Equity Interest Pledge Contract as set forth in the Attachment 4 of this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C G which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor Pledgors and Party C G shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C G fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Parties hereby acknowledge and agree that, in the event that the Pledge cannot be registered due to the AIC’s suspension of pledge registration formalities, Party C shall, and Pledgor shall cause Party C to, go through the registration formalities within such a period as reasonably requested by Pledgee upon resuming of the pledge registration formalities. 3.2 The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the New Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and fulfilled by Party C shall (1) register the Pledge in the shareholders’ register of Party C C. The parties agree that within 3 business days following the execution of this Agreement, Pledgor and (2) submit an application to Party C shall register the Pledge in the shareholders’ register of Party C, and within 10 business days after the competent AIC has formally begun accepting applications for the registration of equity interest pledge, Pledgor and Party C shall file the Pledge pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that with such AIC for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filingregistration. 3.2 3.3 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the New Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge pledge rights shall become effective come into force upon the date on such date when which the pledge of the Equity Interest contemplated herein pledged equity hereunder is registered with the relevant administration for industry industrial and commerce (the “AIC”)commercial administrative authority, and shall remain valid until all contractual obligations are fulfilled and all guaranteed debts are paid. The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1I) register the Pledge in transactions under this Agreement on the shareholders’ register of shareholders of Party C within 3 business working days following from the execution effective date of this Agreement, and (2II) submit an application apply to the AIC for corresponding industry and commerce administration authorities to record the registration of pledge rights under this Agreement within 5 working days from the Pledge of the Equity Interest contemplated herein within 30 business days following the execution effective date of this AgreementAgreement or within the period otherwise agreed by the Pledgee. The parties covenant that Parties jointly confirm that, to complete the industrial and commercial registration procedures for the purpose of registration of the Pledgeequity pledge, the parties hereto Parties and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract Equity Pledge Contract (hereinafter referred to as the “Pledge Contract for Industrial and Commercial Registration”) signed in the form required by the AIC at the location local administrative department of industry and commerce of Party C and which shall truly reflect reflects the information of the Pledge hereunder (pledge rights under this Agreement to the “AIC Pledge Contract”)administrative authority for industry and commerce. For matters not specified stipulated in the AIC Pledge ContractContract for Industrial and Commercial Registration, the parties stipulations in this Agreement shall be bound by the provisions of this Agreementprevail. The Pledgor and Party C shall submit all necessary documents and complete go through all necessary procedures, as required by the PRC procedures in accordance with Chinese laws and regulations and the requirements of the relevant AIC, administrative authorities for industry and commerce to ensure that the Pledge of the Equity Interest shall be pledge rights are registered with the AIC as soon as possible after submission for filingsubmitting the application. 3.2 During the Term term of Pledgepledge, in if the event Pledgor and/or Party C fails fail(s) to perform the Contract Obligations their contractual obligations or pay Secured Indebtednessthe guaranteed debts, the Pledgee shall have the right, right but not the obligation, obligation to exercise the Pledge pledge rights in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such from date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”)both parties execute this Agreement. The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have has been fully paid. The Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreementtime required by the Pledgee according to the Pledgee’s request, and (2) submit an application to the AIC relevant administration of industry and commerce (the “AIC”) for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreementtime required by the Pledgee according to the Pledgee’s request. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties Parties shall be bound by the provisions of this Agreement. The Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the relevant PRC laws and regulations and the relevant competent AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event that the Pledgor and/or or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, the Pledgee shall have the right, but not the obligation, to exercise enforce the Pledge in accordance with the provisions terms and conditions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered has been registered’ with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Services Agreement have been fully performed fulfilled by Target Company. Pledgors and all Secured Indebtedness have been fully paid. Pledgor and Party C Target Company shall (1) register the Pledge in the shareholders’ register of Party C Target Company within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 ten (10) business days following the execution of this Agreement. The parties Parties covenant that for the purpose of registration of the PledgePledge (including re-registration of the Pledge when the percentage of equity interest a Pledgor holds in Target Company changes), the parties Parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an the equity interest pledge contract as in the form required by the AIC at the location of Party C Target Company which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties Parties shall be bound by the provisions of this Agreement. Pledgor Pledgors and Party C Target Company shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C Target Company fails to perform pay the Contract Obligations or pay Secured Indebtednessexclusive service fees in accordance with the Services Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered has been registered’ with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. fulfilled by Party C. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or and / or Party C fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations obligations due under the Business Cooperation Agreement have been fully performed and fulfilled by Party C or until all Secured Indebtedness obligations due under the Loan Agreement have been fully paidfulfilled by Pledgor (the later of fulfillment of the obligations). Pledgor and Party C shall (1) register the Pledge in the shareholders’ ' register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this AgreementAgreement (the “Registration of Pledge”). The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to pay the exclusive consulting or service fees in accordance with the Business Cooperation Agreement, or in the event Pledgor fails to perform his/her obligations under the Contract Obligations or pay Secured IndebtednessLoan Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days three (3) months following the execution of this Agreement. Failure to complete the registration of the Pledge of the Equity Interest contemplated herein within the aforementioned period due to the reason of AIC shall not be deemed as a breach of contract. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. ​ 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. ​ ​ The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing.. ​ 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.. ​

Term of Pledge. ​ 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations have been fully performed the Master Exclusive Service Agreement, the Exclusive Option Agreement and all Secured Indebtedness have been fully paidthe Power of Attorney expire or terminate. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C The parties agree that within 3 business days following the execution of this Agreement, Pledgor and (2) Party C shall register the Pledge in the shareholders’ register of Party C, and within 10 business days after the competent AIC has formally begun accepting applications for the registration of equity interest pledge, Pledgor and Party C shall submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreementherein. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible within 20 business days after submission for filingfiling (or such other time period normally required by the relevant AIC). 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such as of the date when the pledge of the Equity Interest contemplated herein is registered with relevant the competent administration for of industry and commerce (the “AIC”)commerce. The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Principal Agreements have been fully performed and all Secured Indebtedness have been fully paid. fulfilled by Party C. The Parties agree that Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement; the Parties jointly acknowledge that, and to conduct the share pledge registration formalities (2) submit an application to including the AIC for share pledge modification registration when the registration shareholding percentage of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the PledgePledgor in Party C changes), the parties hereto Parties and all other shareholders of Party C shall submit to the AIC administration of industry and commerce a Share Pledge Agreement which is attached hereto as Exhibit 4 to this Agreement or an equity interest pledge contract Agreement, and is executed in the form required by the AIC administration of industry and commerce at the location of place where Party C is located and which shall truly reflect reflects the information of the Pledge hereunder (the “AIC Pledge Contract”). For pledge under this Agreement, matters not specified provided in the AIC such Share Pledge Contract, the parties Agreement for registration shall be bound by the subject to provisions of this Agreement. Pledgor and Party C shall submit shall, in accordance with all necessary documents and complete all necessary procedures, as required by requirements of the PRC laws and regulations and of the relevant AICcompetent administration of industry and commerce, submit all necessary documents and conduct all necessary formalities to ensure that the Pledge of the Equity Interest shall pledge will be registered with the AIC as soon as possible after submission for filingthe application is submitted (“Share Pledge Registration”). 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations consulting or pay Secured Indebtednessservice fees in accordance with the Exclusive Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. ​ 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to ​ the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing.. ​ 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.. ​

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge ContractContract or any discrepancies with this Agreement, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such as of the date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”)) in accordance with the PRC laws and regulations. The Pledge shall remain effective be continuously valid until all Contract Obligations the obligations and payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. fulfilled by Party C. The parties agree that the Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 three (3) business days following the execution of this Agreement, and (2) within 5 business days after the competent AIC has formally begun accepting applications for the registration of equity interest pledge, Pledgor and Party C shall submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge ContractRegistration of Pledge”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations any of its obligations or pay Secured Indebtednessthe exclusive consulting or service fees in accordance with the Business Cooperation Agreement, the Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations and Secured Indebtedness have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing.. 秘密文件 Strictly Confidential 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations Obligation or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on on. such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ shareholders register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”” ). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall ​ have the right, but not .not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered has been registered’ with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under this agreement have been fully performed and all Secured Indebtedness have been fully paid. fulfilled by Party C. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or and / or Party C fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. ​ 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the ​ parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing.. ​ 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.. ​

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry the corresponding industrial and commerce (the “AIC”)commercial administration. The Pledge shall remain effective until all Contract Contractual Obligations have been fully performed and all Secured Indebtedness have has been fully paid. Pledgor The Pledgors and Party C shall (1) register the Pledge of this Agreement in the shareholders’ register of Party C within 3 business days following the execution effective date of this Agreement, and (2) submit an application to the AIC corresponding industrial and commercial administration for the registration of the Pledge of the Equity Interest contemplated herein under this Agreement within 30 15 business days following the execution of this Agreement. The parties Parties covenant that for the purpose of registration of the Pledge, the parties Parties hereto and all other shareholders of Party C shall submit to the AIC industrial and commercial administration this Agreement or an a signed equity interest pledge contract in the form required by the AIC industrial and commercial administration at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Industrial And Commercial Administration Pledge Contract”). For matters not specified in the AIC Industrial And Commercial Administration Pledge Contract, the parties Parties shall be bound by the provisions of this Agreement. Pledgor The Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AICindustrial and commercial administration, to ensure that the Pledge registration of the Equity Interest shall Pledge would be registered with the AIC accepted as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor the Pledgors and/or Party C fails fail to perform the Contract Contractual Obligations or pay repay Secured Indebtedness, the Pledgee shall have the rightbe entitled, but not the obligationobligated, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such as of the date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”)) in accordance with the PRC laws and regulations. The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and fulfilled by Party C shall (1) register the Pledge in the shareholders’ register of Party C C. The parties agree that within 3 business days following the execution of this Agreement, Pledgor and (2) Party C shall register the Pledge in the shareholders’ register of Party C, and within 5 business days after the competent AIC has formally begun accepting applications for the registration of equity interest pledge, Pledgor and Party C shall submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge ContractRegistration of Pledge”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations any of its obligations or pay Secured Indebtednessthe exclusive consulting or service fees in accordance with the Business Cooperation Agreement, the Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge pledge shall become effective on such take effect from the date when of registration of the pledge of equity interests with the Equity Interest contemplated herein local market supervision and administration department at the place where Party C is registered located (hereinafter referred to as the "Registration Authority"), and such pledge shall be valid (hereinafter referred to as the "Term of Pledge ") from the said effective date until: (a) the last Secured Indebtedness are fully paid and contractual obligations secured by such pledge are fulfilled; or (b) the Pledgee decides to purchase the entire equity interests held by the Pledgors in Party C in accordance with relevant administration for industry the Exclusive Option Agreement, to the extent permitted under the Laws of the PRC, the equity interests in Party C have been legally transferred to the Pledgee and/or its Designee, and commerce the Pledgee and its subsidiaries and branches can legally engage in the business operated by Party C; or (c) the Pledgee decides to purchase all of the assets of Party C under the Exclusive Option Agreement, to the extent s permitted by the Laws of the PRC, all of the assets of Party C have been legally transferred to the Pledgee and/or its designee, and the Pledgee and its subsidiaries and branches can legally engage in the business operated by Party C with the said assets; or (d) the Pledgee unilaterally requests to terminate this Agreement (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed right of the Pledgee to terminate this Agreement is without any restriction and all Secured Indebtedness have been fully paid. Pledgor such right is only enjoyed by the Pledgee, and the Pledgors or Party C shall not have the right to unilaterally terminate this Agreement); or (1e) register it is terminated in accordance with the Pledge in requirements of the shareholders’ register relevant applicable laws and regulations of the PRC. 3.2 In the event that Party B and/or Party C within 3 business days following fail to perform their Contractual Obligations or pay the execution Secured Indebtedness (including payment of this exclusive consulting or service fees under the Technology and Service Cooperation Agreement, and (2) submit an application or otherwise fail to the AIC for the registration perform any of the Pledge of Transaction Agreement) during the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration term of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the dispose of such Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such the date when the pledge registration of the Pledged Equity Interest contemplated herein is registered established or changed with a relevant administration Administration for industry and commerce (the “AIC”)Market Regulation. The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have has been fully paid. The Pledgor and Party C the Domestic Company shall (1) register the Pledge herein in the shareholders’ register of Party C the Domestic Company within 3 three (3) business days following the execution of this Agreement, and (2) submit an application to the AIC relevant Administration for Market Regulation for establishing or changing the registration of the Pledge of the Pledged Equity Interest contemplated herein within 30 thirty (30) business days following the execution of this Agreement. The parties covenant Parties confirm that for the purpose of establishing or changing the registration of the PledgePledge with the relevant Administration for Market Regulation, the parties hereto Parties and all other shareholders of Party C the Domestic Company shall submit to the AIC this Agreement Agreement, or an equity interest pledge contract in the form required by the AIC Administration for Market Regulation at the location of Party C place where the Domestic Company is located (which shall truly reflect the information of the Pledge hereunder hereunder) (the “AIC AMR Pledge Registration Establishing/Changing Contract”), to the competent Administration for Market Regulation. For matters not specified in the AIC AMR Pledge Registration Establishing/Changing Contract, the parties Parties shall be bound by the provisions of this Agreement. The Pledgor and Party C the Domestic Company shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AICcompetent Administration for Market Regulation, to ensure that the Pledge registration of the Equity Interest shall Pledge can be registered with the AIC established or changed as soon as possible after submission for filingof the application. 3.2 During the Term of Pledge, in the event that the Pledgor and/or Party C the Domestic Company fails to perform the Contract Obligations or pay the Secured Indebtedness, the Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered has been registered’ with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. Pledgor fulfilled by Party C. Pledgors and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties Parties covenant that for the purpose of registration of the PledgePledge (including re-registration of the Pledge when the percentage of equity interest a Shareholder holds in Party C changes), the parties Parties hereto and all other shareholders of Party C shall submit to the AIC the Equity Interest Pledge Contract as set forth in the Attachment 4 of this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties Parties shall be bound by the provisions of this Agreement. Pledgor Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. ​ 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have has been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following on the execution effective date of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following on the execution of this Agreementdate hereof. The ​ parties covenant that for the purpose of registration of the Pledge, the parties Parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the conflicts between this Agreement and the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing.. ​ 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge pledge shall become effective on such take effect from the date when of registration of the pledge of equity interests with the Equity Interest contemplated herein local market supervision and administration department at the place where Party C is registered located (hereinafter referred to as the “Registration Authority”), and such pledge shall be valid (hereinafter referred to as the “Term of Pledge “) from the said effective date until: (a) the last Secured Indebtedness are fully paid and contractual obligations secured by such pledge are fulfilled; or (b) the Pledgee decides to purchase the entire equity interests held by the Pledgors in Party C in accordance with relevant administration for industry the Exclusive Option Agreement, to the extent permitted under the Laws of the PRC, the equity interests in Party C have been legally transferred to the Pledgee and/or its Designee, and commerce the Pledgee and its subsidiaries and branches can legally engage in the business operated by Party C; or (c) the Pledgee decides to purchase all of the assets of Party C under the Exclusive Option Agreement, to the extent s permitted by the Laws of the PRC, all of the assets of Party C have been legally transferred to the Pledgee and/or its designee, and the Pledgee and its subsidiaries and branches can legally engage in the business operated by Party C with the said assets; or (d) the Pledgee unilaterally requests to terminate this Agreement (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed right of the Pledgee to terminate this Agreement is without any restriction and all Secured Indebtedness have been fully paid. Pledgor such right is only enjoyed by the Pledgee, and the Pledgors or Party C shall not have the right to unilaterally terminate this Agreement); or (1e) register it is terminated in accordance with the Pledge in requirements of the shareholders’ register relevant applicable laws and regulations of the PRC. 3.2 In the event that Party B and/or Party C within 3 business days following fail to perform their Contractual Obligations or pay the execution Secured Indebtedness (including payment of this exclusive consulting or service fees under the Technology and Service Cooperation Agreement, and (2) submit an application or otherwise fail to the AIC for the registration perform any of the Pledge of Transaction Agreement) during the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration term of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the dispose of such Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “"AIC”"). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement and the loan under the Loan Agreement have been fully performed and all Secured Indebtedness have been fully paidfulfilled or repaid by Party C or its subsidiaries. Pledgor and Party C shall (1) register the Pledge in the shareholders’ ' register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application this Agreement or other form of the Agreement as required by the AIC to the AIC for application of the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions theexecution of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity theEquity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations exclusiveconsulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement or fails to repay the loan under the Loan Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce market regulation (the “AICAMR”). The Pledge , and thereafter shall remain effective be continuously valid until all Contract Obligations have been fully performed fulfilled and all Secured Indebtedness have been fully paidrepaid up. Pledgor Pledgors and Party C shall (1a) register the Pledge hereof in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2b) submit an application to the AIC for fulfill the registration of the Pledge of the Equity Interest contemplated herein within 30 business days hereof at AMR as soon as possible following the execution of this Agreement. The parties covenant Parties jointly confirm that for the purpose of registration of registering the PledgePledge with the AMR, the parties hereto Parties and all other shareholders of Party C shall shall, submit to the AIC a copy of this Agreement or an equity interest pledge contract agreement executed in the form required by the AIC at the location of local AMR where Party C resides which shall truly reflect the information of the Pledge hereunder (the “AIC AMR Equity Pledge ContractAgreement”)) to the AMR. For matters not specified in the AIC Where there is any inconsistency between AMR Equity Pledge ContractAgreement and this Agreement and Transaction Documents, the parties this Agreement and Transaction Documents shall be bound by the provisions of this Agreementprevail. Pledgor Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by pursuant to the PRC laws and regulations and the requirements of relevant AICAMR, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of the Pledge, in the event Pledgor the Pledgors and/or Party C fails fail to perform the Contract Obligations or pay Secured Indebtedness, the Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. ​ 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge ContractContract or any discrepancies with this Agreement, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have has been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution demand of this AgreementPledgee. The parties covenant that for the purpose of registration of the Pledge, the parties Parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.. ​

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant competent administration for industry and commerce (the “AIC”). The Pledge shall remain effective be valid until all Contract Obligations have been Obligation and Secured Indebtedness are fully performed and all Secured Indebtedness have been fully paid. Pledgor Pledgors and Party C D shall (1) register the Pledge in the shareholders’ register of Party C D within 3 business days following the execution of this AgreementAgreement and/or the completion of increase of registered capital of Party D, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. Agreement and/or the completion of increase of registered capital of Party D. The parties Parties mutually covenant that for the purpose of registration of the Pledge, the parties Parties hereto and all other shareholders of Party C D shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C D which shall truly reflect the information of the Pledge hereunder (the hereinafter “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties Parties shall be bound by the provisions of this Agreement. Pledgor Pledgors and Party C D shall submit all necessary documents and complete all necessary procedures, procedures as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filingof application. 3.2 During the Term of Pledge, in the event Pledgor Pledgors and/or Party C D fails to perform the Contract Obligations Obligation or pay off Secured Indebtedness, Pledgee shall have the right, but not the obligation, option to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, Agreement and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, Pledge the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, Contract the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, procedures as required by the PRC laws and regulations and the relevant AIC, AIC to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, Pledge in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Indebtedness Pledgee shall have the right, right but not the obligation, obligation to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor Party B and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor Party B and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor Party B and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. Pledgor fulfilled by Party C. Pledgors and Party C shall (1) register the Pledge in the shareholders’ ' register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 15 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations or pay Secured Indebtednessexclusive service fees in accordance with the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce market regulation (the “AICAMR”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC AMR for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this AgreementAgreement or within the period otherwise agreed by the Pledgee. The parties covenant that for the purpose of registration of the above mentioned Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC AMR this Agreement or an equity interest pledge contract in the form required by the AIC AMR at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC AMR Pledge Contract”). For matters not specified in the AIC AMR Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AICAMR, to ensure that the Pledge of the Equity Interest shall be registered with the AIC AMR as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured IndebtednessIndebtedness in any material aspect, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered has been registered’ with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and fulfilled by Party C shall (1) register the Pledge in the shareholders’ register of Party C C. The parties agree that within 3 business days following the execution of this Agreement, Pledgor and (2) Party C shall register the Pledge in the shareholders’ register of Party C, and within 10 business days after the competent AIC has formally begun accepting applications for the registration of equity interest pledge, Pledgor and Party C shall submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge ContractRegistration of Pledge”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 10 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge pledge rights shall become effective come into force upon the date on such date when which the pledge of the Equity Interest contemplated herein pledged equity hereunder is registered with the relevant administration for industry industrial and commerce (the “AIC”)commercial administrative authority, and shall remain valid until all contractual obligations are fulfilled and all guaranteed debts are paid. The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1I) register the Pledge in transactions under this Agreement on the shareholders’ register of shareholders of Party C within 3 business working days following from the execution effective date of this Agreement, and (2II) submit an application apply to the AIC for corresponding industry and commerce administration authorities to record the registration of pledge rights under this Agreement within 5 working days from the Pledge of the Equity Interest contemplated herein within 30 business days following the execution effective date of this AgreementAgreement or within the period otherwise agreed by the Pledgee. The parties covenant that Parties jointly confirm that, to complete the industrial and commercial registration procedures for the purpose of registration of the Pledgeequity pledge, the parties hereto Parties and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract Equity Pledge Contract (hereinafter referred to as the “Pledge Contract for Industrial and Commercial Registration”) signed in the form required by the AIC at the location local administrative department of industry and commerce of Party C and which shall truly reflect reflects the information of the Pledge hereunder (pledge rights under this Agreement to the “AIC Pledge Contract”)administrative authority for industry and commerce. For matters not specified stipulated in the AIC Pledge ContractContract for Industrial and Commercial Registration, the parties stipulations in this Agreement shall be bound by the provisions of this Agreementprevail. The Pledgor and Party C shall submit all necessary documents and complete go through all necessary procedures, as required by the PRC procedures in accordance with Chinese laws and regulations and the requirements of the relevant AIC, administrative authorities for industry and commerce to ensure that the Pledge of the Equity Interest shall be pledge rights is registered with the AIC as soon as possible after submission for filingsubmitting the application. 3.2 During the Term term of Pledgepledge, in if the event Pledgor and/or Party C fails to perform the Contract Obligations their contractual obligations or pay Secured Indebtednessthe guaranteed debts, the Pledgee shall have the right, right but not the obligation, obligation to exercise the Pledge pledge rights in accordance with the provisions of this Agreement.

Term of Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is has been registered with relevant administration for industry and commerce (the “"AIC”"). The Pledge shall remain effective be continuously valid until all Contract Obligations payments due under the Business Cooperation Agreement and the loan under the Loan Agreement have been fully performed and all Secured Indebtedness have been fully paidfulfilled or repaid by Party C or its subsidiaries. Pledgor and Party C shall (1) 2 <PAGE> register the Pledge in the shareholders’ ' register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application this Agreement or other form of the Agreement as required by the AIC to the AIC for application of the registration of the Pledge of the Equity Interest contemplated herein within 30 10 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform pay the Contract Obligations exclusive consulting or pay Secured Indebtednessservice fees in accordance with the Business Cooperation Agreement or fails to repay the loan under the Loan Agreement, Pledgee shall have the right, but not the obligation, to exercise dispose of the Pledge in accordance with the provisions of this Agreement.