Common use of The Pledge Clause in Contracts

The Pledge. 2.1 The Pledgor hereby agrees to pledge to the Pledgee the Pledged Equity Interest that the Pledgor legally owns and has right to dispose of, as security for the repayment of the Secured Indebtedness and the full performance of the Contract Obligations. Party C hereby agrees for the Pledgor to so pledge the Pledged Equity Interest to the Pledgee in accordance with the terms hereof. 2.2 During the Term of Pledge, the Pledgee is entitled to receive any dividends or distributions in respect of the Pledged Equity Interest. With the prior written consent of the Pledgee, the Pledgor may collect such dividends or distributions in respect of the Pledged Equity Interest. Any dividends or distributions received by the Pledgee in respect of the Pledged Equity Interest shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by PRC laws, be unconditionally transferred to the Pledgee or any person designated by the Pledgee without consideration. 2.3 The Pledgor may not increase capital of Party C except with prior written consent of the Pledgee. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall equally become part of the Pledged Equity Interest. 2.4 In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under custody of the Pledgee, and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by PRC laws, be transferred to the Pledgee or any person designated by the Pledgee without consideration.

The Pledge. 2.1 2.1. The Pledgor Pledgors hereby agrees agree to pledge to the Pledgee the Pledged Equity Interest that the Pledgor legally owns and has right to dispose of, in accordance with this Agreement as security for the performance of the Contractual Obligations and the repayment of the Secured Indebtedness and the full performance of the Contract ObligationsIndebtedness. Party C hereby agrees for the Pledgor Pledgors to so pledge the Pledged Equity Interest to the Pledgee in accordance with the terms hereofthis Agreement. 2.2 2.2. During the Term of Pledge, the Pledgee is entitled to receive any dividends or distributions in respect of the Pledged Equity Interest. With the prior written consent of the Pledgee, the Pledgor Pledgors may collect such dividends or distributions in respect of the Pledged Equity Interest. Any dividends or distributions received by the Pledgee in respect of the Pledged Equity Interest after deduction of income tax paid by Pledgors shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, be used as security for the Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be unconditionally donated to the Pledgee or any person designated by the Pledgee. 2.3. With the prior written consent of the Pledgee, the Pledgors may subscribe for increased capital in Party C. Any increase in the capital contributed by the Pledgors to the registered capital of Party C as a result of any capital increase shall also be deemed as the Pledged Equity Interest. 2.4. In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the lawful completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgors shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, and be first applied towards full satisfaction of used as security for the Secured Indebtedness; or (2) to the extent permitted by PRC laws, be unconditionally transferred to the Pledgee or any person designated by the Pledgee without consideration. 2.3 The Pledgor may not increase capital of Party C except with prior written consent of the Pledgee. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall equally become part of the Pledged Equity Interest. 2.4 In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under custody of the Pledgee, Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be transferred unconditionally donated to the Pledgee or any person designated by the Pledgee without considerationPledgee.

The Pledge. 2.1 2.1. The Pledgor hereby agrees to pledge to the Pledgee the Pledged Equity Interest that the Pledgor legally owns and has right to dispose of, in accordance with this Agreement as security for the performance of the Contractual Obligations and the repayment of the Secured Indebtedness and the full performance of the Contract ObligationsIndebtedness. Party C hereby agrees for the Pledgor to so pledge the Pledged Equity Interest to the Pledgee in accordance with the terms hereofthis Agreement. 2.2 2.2. During the Term of Pledge, the Pledgee is entitled to receive any dividends or distributions in respect of the Pledged Equity Interest. With the prior written consent of the Pledgee, the Pledgor may collect such dividends or distributions in respect of the Pledged Equity Interest. Any dividends or distributions received by the Pledgee in respect of the Pledged Equity Interest after deduction of income tax paid by Pledgor shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, be used as security for the Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be unconditionally donated to the Pledgee or any person designated by the Pledgee. 2.3. With the prior written consent of the Pledgee, the Pledgor may subscribe for increased capital in Party C. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall also be deemed as the Pledged Equity Interest. 2.4. In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the lawful completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, and be first applied towards full satisfaction of used as security for the Secured Indebtedness; or (2) to the extent permitted by PRC laws, be unconditionally transferred to the Pledgee or any person designated by the Pledgee without consideration. 2.3 The Pledgor may not increase capital of Party C except with prior written consent of the Pledgee. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall equally become part of the Pledged Equity Interest. 2.4 In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under custody of the Pledgee, Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be transferred unconditionally donated to the Pledgee or any person designated by the Pledgee without considerationPledgee.

The Pledge. 2.1 The Pledgor xxxxxxx hereby agrees to pledge to the Pledgee the Pledged Equity Interest that to the Pledgor legally owns pledgee in accordance with this Agreement as a guarantee for the performance of contractual obligations and has right to dispose of, as security for the repayment of the Secured Indebtedness and the full performance of the Contract Obligationssecured debts. Party C hereby agrees for that the Pledgor to so shall pledge the Pledged Equity Interest to the Pledgee pledgee in accordance with the terms hereof.provisions of this Agreement 2.2 During the Term term of Pledgepledge, unless prohibited by applicable laws and regulations, the Pledgee is entitled has the right to receive any dividends or distributions in respect dividends from the Pledged Equity. Without the prior written consent of the Pledgee, the Xxxxxxx shall not receive dividends or dividends on the pledged shares. Dividends or dividends received by the Pledgor due to the Pledged Equity Interest. shall be deposited in the pledgee ’s designated account according to the pledgee ’s requirements after deducting the personal income tax paid by the pledgee (1) due to the obligation of the guarantee contract and the first payment of the Guaranteed debt; or (2) within the scope not prohibited by PRC law, such dividends and dividends are unconditionally presented to the Pledgee or the person designated by the Pledgee in a manner permitted by PRC law 2.3 With the prior written consent of the Pledgee, the Pledgor may collect such dividends or distributions increase capital to Party C. The Pledgee’s increased capital in respect of the company, and the increased capital contribution in the company’s registered capital also belongs to the Pledged Equity Interest. Any dividends Equity, the Parties should sign a further pledge agreement for this, and pledge registration for the increased investment. 2.4 If Party C is disbanded or distributions received liquidated in accordance with the mandatory provisions of PRC law, and after Party C completes the dissolution or liquidation procedures according to law, any benefits allocated by the Pledgee Pledgor from Party C according to law shall be deposited in respect of accordance with the Pledged Equity Interest shall, upon the Pledgeepledgee ’s request, requirements (1) be deposited into a bank account designated supervised by the Pledgee, be placed under and used to guarantee Contract Obligations and first pay off the custody of the Pledgee, and be first applied towards full satisfaction of the Secured Indebtednesssecured debt; or (2) to the extent permitted not prohibited by PRC lawslaw, be unconditionally transferred gifted to the Pledgee or any person designated by the Pledgee without consideration. 2.3 The Pledgor may not increase capital of Party C except with prior written consent of the Pledgee. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall equally become part of the Pledged Equity Interest. 2.4 In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under custody of the Pledgee, and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent manner permitted by PRC laws, be transferred to the Pledgee or any person designated by the Pledgee without considerationlaw.

The Pledge. 2.1 2.1. The Pledgor Pledgors hereby agrees agree to pledge to the Pledgee the Pledged Equity Interest that the Pledgor legally owns and has right to dispose of, in accordance with this Agreement as security for the performance of the Contractual Obligations and the repayment of the Secured Indebtedness and the full performance of the Contract ObligationsIndebtedness. Party C hereby agrees for the Pledgor Pledgors to so pledge the Pledged Equity Interest to the Pledgee in accordance with the terms hereofthis Agreement. 2.2 2.2. During the Term of Pledge, the Pledgee is entitled to receive any dividends or distributions in respect of the Pledged Equity Interest. With the prior written consent of the Pledgee, the Pledgor Pledgors may collect such dividends or distributions in respect of the Pledged Equity Interest. Any dividends or distributions received by the Pledgee in respect of the Pledged Equity Interest after deduction of income tax paid by Pledgors shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, be used as security for the Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be unconditionally donated to the Pledgee or any person designated by the Pledgee. 2.3. With the prior written consent of the Pledgee, the Pledgors may subscribe for capital increase in Party C. Any increase in the capital contributed by the Pledgors to the registered capital of Party C as a result of any capital increase shall also be deemed as the Pledged Equity Interest. 2.4. In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the lawful completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgors by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, and be first applied towards full satisfaction of used as security for the Secured Indebtedness; or (2) to the extent permitted by PRC laws, be unconditionally transferred to the Pledgee or any person designated by the Pledgee without consideration. 2.3 The Pledgor may not increase capital of Party C except with prior written consent of the Pledgee. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall equally become part of the Pledged Equity Interest. 2.4 In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under custody of the Pledgee, Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be transferred unconditionally donated to the Pledgee or any person designated by the Pledgee without consideration.

The Pledge. 2.1 2.1. The Pledgor Pledgors hereby agrees agree to pledge to the Pledgee the Pledged Equity Interest that the Pledgor legally owns and has right to dispose of, Share of Property in accordance with this Agreement as security for the performance of the Contractual Obligations and the repayment of the Secured Indebtedness and the full performance of the Contract ObligationsIndebtedness. Party C hereby agrees for the Pledgor Pledgors to so pledge the Pledged Equity Interest Share of Property to the Pledgee in accordance with the terms hereofthis Agreement. 2.2 2.2. During the Term of Pledge, the Pledgee is entitled to receive any dividends or distributions in respect of the Pledged Equity InterestShare of Property. With the prior written consent of the Pledgee, the Pledgor Pledgors may collect such dividends or distributions in respect of the Pledged Equity InterestShare of Property. Any dividends or distributions received by the Pledgee in respect of the Pledged Equity Interest Share of Property after deduction of income tax paid by Pledgors shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, be used as security for the Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be unconditionally donated to the Pledgee or any person designated by the Pledgee. 2.3. With the prior written consent of the Pledgee, the Pledgors may subscribe for increased capital in Party C. Any increase in the capital contributed by the Pledgors to the registered capital of Party C as a result of any capital increase shall also be deemed as the Pledged Share of Property. 2.4. In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the lawful completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgors shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, and be first applied towards full satisfaction of used as security for the Secured Indebtedness; or (2) to the extent permitted by PRC laws, be unconditionally transferred to the Pledgee or any person designated by the Pledgee without consideration. 2.3 The Pledgor may not increase capital of Party C except with prior written consent of the Pledgee. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall equally become part of the Pledged Equity Interest. 2.4 In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under custody of the Pledgee, Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be transferred unconditionally donated to the Pledgee or any person designated by the Pledgee without considerationPledgee.

The Pledge. 2.1 The Pledgor Each of the Pledgors hereby agrees to pledge pledges all the Equity Interest he/she holds in the Domestic Enterprise to the Pledgee the Pledged Equity Interest that the Pledgor legally owns and has right to dispose of, as a security for the performance of Contractual Obligations and repayment of the Secured Indebtedness and (the full performance “Pledge”). Pursuant thereto, the Pledgee shall have priority in receiving repayments from the proceeds from the auction or sale of the Contract ObligationsEquity Interest. Party C hereby agrees for the Pledgor to so pledge the Pledged The Equity Interest so pledged shall hereinafter be referred to as the Pledgee in accordance with the terms hereof“Pledged Collateral”. 2.2 During the Term of Pledgeterm hereof, the Pledgee is entitled to receive shall not be liable in whatsoever manner for any dividends or distributions diminution in respect value of the Pledged Equity Interest. With Collateral and the prior written consent Pledgors shall have no right to seek any form of recourse or bring any claims against the Pledgee in connection therewith, except where such diminution arises out of any willful conduct or gross negligence of the Pledgee. 2.3 Without prejudice to above Article 2.2, if the Pledged Collateral is likely to suffer such a manifest value diminution as may impair the rights of the Pledgee, the Pledgor Pledgee may collect such dividends at any time auction or distributions in respect sell the Pledged Collateral on behalf of the Pledged Equity Interest. Any dividends Pledgors and may, as agreed with the Pledgors, apply the proceeds from such auction or distributions received by the Pledgee in respect of the Pledged Equity Interest shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, and be first applied sale towards early full satisfaction repayment of the Secured Indebtedness; , or deposit (2) to entirely at the extent permitted by PRC laws, be unconditionally transferred to the Pledgee or any person designated by the Pledgee without consideration. 2.3 The Pledgor may not increase capital of Party C except with prior written consent cost of the Pledgee. ) such proceeds with a notary organ of the place where the Pledgee is domiciled. 2.4 Any capital increase in the capital contributed by the Pledgor Pledgors to the registered capital of Party C Domestic Enterprise as a result of any capital increase shall equally become part of the Pledged Equity Interest. 2.4 In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under custody of the Pledgee, and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to Collateral. To the extent permitted by PRC laws, Pledgors shall register the pledge for increased capital with administration for industry and commerce as soon as practicable upon the completion of the capital increase. Domestic Enterprise undertakes to cooperate with Pledgors to complete above registration for increased capital contemplated in this article. 2.5 The Pledgors undertake to waive any right to receive dividend distribution in respect of the Pledged Equity during the term of the Pledge, except with prior written consent of the Pledgee . 2.6 Subject to Article 2.5 and to the extent not violating the PRC laws, any dividend or distribution received by the Pledgors in respect of the Pledged Collateral, or any asset interest distribution received by the Pledgors shall be transferred fully reimbursed to the Pledgee or any person and deposited into the account designated by the Pledgee, which shall be under the supervision of the Pledgee without considerationand used for the payment of Secured Indebtedness in the first priority.

The Pledge. 2.1 2.1. The Pledgor Pledgors hereby agrees agree to pledge to the Pledgee the Pledged Equity Interest that the Pledgor legally owns and has right to dispose of, in accordance with this Agreement as security for the performance of the Contractual Obligations and the repayment of the Secured Indebtedness and the full performance of the Contract ObligationsIndebtedness. Party C hereby agrees for the Pledgor Pledgors to so pledge the Pledged Equity Interest to the Pledgee in accordance with the terms hereofthis Agreement. 2.2 2.2. During the Term of Pledge, the Pledgee is entitled to receive any dividends or distributions in respect of the Pledged Equity Interest. With the prior written consent of the Pledgee, the Pledgor Pledgors may collect such dividends or distributions in respect of the Pledged Equity Interest. Any dividends or distributions received by the Pledgee in respect of the Pledged Equity Interest after deduction of income tax paid by Pledgors shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, be used as security for the Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be unconditionally donated to the Pledgee or any person designated by the Pledgee. 2.3. With the prior written consent of the Pledgee, the Pledgors may subscribe for capital increase in Party C. Any increase in the capital contributed by the Pledgors to the registered capital of Party C as a result of any capital increase shall also be deemed as the Pledged Equity Interest. 2.4. In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the lawful completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgors by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, and be first applied towards full satisfaction of used as security for the Secured Indebtedness; or (2) to the extent permitted by PRC laws, be unconditionally transferred to the Pledgee or any person designated by the Pledgee without consideration. 2.3 The Pledgor may not increase capital of Party C except with prior written consent of the Pledgee. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall equally become part of the Pledged Equity Interest. 2.4 In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under custody of the Pledgee, Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be transferred unconditionally donated to the Pledgee or any person designated by the Pledgee without considerationPledgee.

The Pledge. 2.1 2.1. The Pledgor hereby agrees to pledge to the Pledgee the Pledged Equity Partnership Interest that the Pledgor legally owns and has right to dispose of, in accordance with this Agreement as security for the performance of the Contractual Obligations and the repayment of the Secured Indebtedness and the full performance of the Contract ObligationsIndebtedness. Party C hereby agrees for the Pledgor to so pledge the Pledged Equity Partnership Interest to the Pledgee in accordance with the terms hereofthis Agreement. 2.2 2.2. During the Term of Pledge, the Pledgee is entitled to receive any dividends or profit distributions in respect of the Pledged Equity Partnership Interest. With the prior written consent of the Pledgee, the Pledgor may collect such dividends or profit distributions in respect of the Pledged Equity Partnership Interest. Any dividends or profit distributions received by the Pledgee in respect of the Pledged Equity Partnership Interest after deduction of income tax paid by Pledgor shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, be used as security for the Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be unconditionally donated to the Pledgee or any person designated by the Pledgee. 2.3. With the prior written consent of the Pledgee, the Pledgor may subscribe for increased capital in Party C. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall also be deemed as the Pledged Partnership Interest. 2.4. In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the lawful completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, and be first applied towards full satisfaction of used as security for the Secured Indebtedness; or (2) to the extent permitted by PRC laws, be unconditionally transferred to the Pledgee or any person designated by the Pledgee without consideration. 2.3 The Pledgor may not increase capital of Party C except with prior written consent of the Pledgee. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall equally become part of the Pledged Equity Interest. 2.4 In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under custody of the Pledgee, Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be transferred unconditionally donated to the Pledgee or any person designated by the Pledgee without considerationPledgee.

The Pledge. 2.1 2.1. The Pledgor Pledgors hereby agrees agree to pledge to the Pledgee the Pledged Equity Interest that the Pledgor legally owns and has right to dispose of, in accordance with this Agreement as security for the performance of the Contractual Obligations and the repayment of the Secured Indebtedness and the full performance of the Contract ObligationsIndebtedness. Party C hereby agrees for the Pledgor Pledgors to so pledge the Pledged Equity Interest to the Pledgee in accordance with the terms hereofthis Agreement. 2.2 2.2. During the Term of Pledge, the Pledgee is entitled to receive any dividends or distributions in respect of the Pledged Equity Interest. With the prior written consent of the Pledgee, the Pledgor Pledgors may collect such dividends or distributions in respect of the Pledged Equity Interest. Any dividends or distributions received by the Pledgee in respect of the Pledged Equity Interest after deduction of income tax paid by Pledgors shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, be used as security for the Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be unconditionally donated to the Pledgee or any person designated by the Pledgee. 2.3. With the prior written consent of the Pledgee, the Pledgors may subscribe for increased capital in Party C. Any increase in the capital contributed by the Pledgors to the registered capital of Party C as a result of any capital increase shall also be deemed as the Pledged Equity Interest. 2.4. In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the lawful completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgors shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, and be first applied towards full satisfaction of used as security for the Secured Indebtedness; or (2) to the extent permitted by PRC laws, be unconditionally transferred to the Pledgee or any person designated by the Pledgee without consideration. 2.3 The Pledgor may not increase capital of Party C except with prior written consent of the Pledgee. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall equally become part of the Pledged Equity Interest. 2.4 In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under custody of the Pledgee, Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be transferred unconditionally donated to the Pledgee or any person designated by the Pledgee without considerationPledgee.

The Pledge. 2.1 2.1. The Pledgor hereby agrees to pledge to the Pledgee the Pledged Equity Interest that the Pledgor legally owns and has right to dispose of, in accordance with this Agreement as security for the performance of the Contractual Obligations and the repayment of the Secured Indebtedness and the full performance of the Contract ObligationsIndebtedness. Party C hereby agrees for the Pledgor to so pledge the Pledged Equity Interest to the Pledgee in accordance with the terms hereofthis Agreement. 2.2 2.2. During the Term of Pledge, the Pledgee is entitled to receive any dividends or distributions in respect of the Pledged Equity Interest. With the prior written consent of the Pledgee, the Pledgor may collect such dividends or distributions in respect of the Pledged Equity Interest. Any dividends or distributions received by the Pledgee in respect of the Pledged Equity Interest after deduction of income tax paid by the Pledgor shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, be used as security for the Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be unconditionally donated to the Pledgee or any person designated by the Pledgee. 2.3. With the prior written consent of the Pledgee, the Pledgor may subscribe for increased capital in Party C. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall also be deemed as the Pledged Equity Interest. 2.4. In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the lawful completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, and be first applied towards full satisfaction of used as security for the Secured Indebtedness; or (2) to the extent permitted by PRC laws, be unconditionally transferred to the Pledgee or any person designated by the Pledgee without consideration. 2.3 The Pledgor may not increase capital of Party C except with prior written consent of the Pledgee. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall equally become part of the Pledged Equity Interest. 2.4 In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under custody of the Pledgee, Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be transferred unconditionally donated to the Pledgee or any person designated by the Pledgee without considerationPledgee.

The Pledge. 2.1 2.1. The Pledgor hereby agrees to pledge to the Pledgee the Pledged Equity Interest that the Pledgor legally owns and has right to dispose of, in accordance with this Agreement as security for the performance of the Contractual Obligations and the repayment of the Secured Indebtedness and the full performance of the Contract ObligationsIndebtedness. Party C OpCo hereby agrees for the Pledgor to so pledge the Pledged Equity Interest to the Pledgee in accordance with the terms hereofthis Agreement. 2.2 2.2. During the Term of Pledge, the Pledgee is entitled to receive any dividends or distributions in respect of the Pledged Equity Interest. With the prior written consent of the Pledgee, the Pledgor may collect such dividends or distributions in respect of the Pledged Equity Interest. Any dividends or distributions received by the Pledgee in respect of the Pledged Equity Interest after deduction of income tax paid by Pledgor shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, be used as security for the Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be unconditionally donated to the Pledgee or any person designated by the Pledgee. 2.3. With the prior written consent of the Pledgee, the Pledgor may subscribe for increased capital in OpCo. Any increase in the capital contributed by the Pledgor to the registered capital of OpCo as a result of any capital increase shall also be deemed as the Pledged Equity Interest. 2.4. In the event that OpCo is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the lawful completion of such dissolution or liquidation procedure, any proceeds distributed by OpCo to the Pledgor shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, and be first applied towards full satisfaction of used as security for the Secured Indebtedness; or (2) to the extent permitted by PRC laws, be unconditionally transferred to the Pledgee or any person designated by the Pledgee without consideration. 2.3 The Pledgor may not increase capital of Party C except with prior written consent of the Pledgee. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall equally become part of the Pledged Equity Interest. 2.4 In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under custody of the Pledgee, Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be transferred unconditionally donated to the Pledgee or any person designated by the Pledgee without considerationPledgee.

The Pledge. 2.1 The Pledgor hereby agrees to pledge 2.1. As the guaranty of all obligations performed by Party C and the Pledgors under the Controlling Agreement, including but not limited to the consulting service fee under the Exclusive Business Cooperation Agreement, the loan under the Loan Agreement, the payment obligations of relevant fees resulted from the enforcement of the performance of the contractual obligations of Party C and/or the Pledgors, and other obligations of Party C and the Pledgors under the Controlling Agreement, the Pledgee shall have the pledge right and interests of the Pledged Equity Interest that and shall have the Pledgor legally owns and has right priority of compensation, whether these payments are due, required to dispose of, as security pay in advance or for the repayment of the Secured Indebtedness and the full performance of the Contract Obligations. Party C hereby agrees for the Pledgor to so pledge the Pledged Equity Interest to the Pledgee in accordance with the terms hereofother reasons. 2.2 2.2. During the Term of Pledge, the Pledgee is entitled to receive any dividends or distributions in respect of the Pledged Equity Interest. With the prior written consent of the Pledgee, the Pledgor Pledgors may collect such dividends or distributions in respect of the Pledged Equity Interest. Any dividends or distributions received by the Pledgee in respect of the Pledged Equity Interest after deduction of income tax paid by Pledgors shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, and be first applied towards full satisfaction of used as security for the Secured Indebtednesscontractual obligations; or (2) to the extent permitted by PRC laws, be unconditionally transferred donated to the Pledgee or any person designated by the Pledgee without considerationPledgee. 2.3 The Pledgor may not increase capital of Party C except with prior written consent of the Pledgee2.3. Any increase in the capital contributed by the Pledgor to the registered capital of Party C as a result of any capital increase shall equally become part of the Pledged Equity Interest. 2.4 In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws, upon the lawful completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgor Pledgors by laws shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, and be first applied towards full satisfaction of used as security for the Secured IndebtednessContractual Obligations; or (2) to the extent permitted by PRC laws, be transferred unconditionally donated to the Pledgee or any person designated by the Pledgee without considerationPledgee.