Common use of Pledge Period Clause in Contracts

Pledge Period. 3.1 The Pledge Rights shall take effect from the date when the equity pledge hereunder is registered with the competent administration for market regulation, and shall remain effective until (1) all Contractual Obligations have been fulfilled and all Guaranteed Debts have been repaid; or (2) subject to Chinese Laws, the Pledgee and/or its designated person decide to purchase all equity of Party C held by the ▇▇▇▇▇▇▇ in accordance with the Exclusive Option Agreement, the equity of Party C has been lawfully transferred to the Pledgee and/or its designated person, and the Pledgee and its designated person can lawfully engage in Party C’s business. The ▇▇▇▇▇▇▇ and Party C shall: (1) register the Pledge Rights hereunder on the register of shareholders of Party C within 3 working days from the date of this Agreement; and (2) apply for registration of the Pledge Rights hereunder with the competent administration for market regulation within 30 working days from the date of this Agreement. The Parties agree that, in order to handle the procedures for the registration of the equity pledge, the Parties and other shareholders of Party C shall submit this Agreement, or an equity pledge contract executed in the form required by the administration for market regulation of the place where Party C is located which truthfully reflects the pledge information hereunder (the “Pledge Contract for Registration Purpose”), to the competent administration for market regulation. In case of any matter not mentioned in the Pledge Contract for Registration Purpose, this Agreement shall apply. The ▇▇▇▇▇▇▇ and Party C shall submit all necessary documents and complete all necessary procedures in accordance with Chinese Laws and regulations and the requirements of competent administration for market regulation, to ensure that the Pledge Rights are registered as soon as possible after submitting the application. From the effective date of this Agreement, the Original Agreement shall immediately become null and no longer have any effect. 3.2 During the Pledge Period, if the ▇▇▇▇▇▇▇ and/or Party C fail to fulfill their Contractual Obligations or repay the Guaranteed Debts, the Pledgee shall be entitled (but not obligated) to exercise the Pledge Rights in accordance with the provisions of this Agreement.

Pledge Period. 3.1 The Pledge Rights pledge right shall take effect from the date when the pledge of the pledged equity pledge hereunder under this Agreement is registered with by the competent administration relevant administrative department for market regulation, industry and commerce. The validity of the pledge right shall remain effective continue until (1) all Contractual Obligations contractual obligations have been fulfilled and all Guaranteed Debts guaranteed debts have been repaid; or (2) subject to Chinese Laws, the Pledgee and/or its designated person decide to purchase all equity of Party C held by the ▇▇▇▇▇▇▇ in accordance with the Exclusive Option Agreement, the equity of Party C has been lawfully transferred to the Pledgee and/or its designated person, and the Pledgee and its designated person can lawfully engage in Party C’s businesspaid. The ▇▇▇▇▇▇▇ Pledgor and Party C shall: shall (1) register the Pledge Rights hereunder pledge right of this Agreement on the register list of shareholders of Party C within 3 three working days from the date of signing this Agreement; , and (2) apply to the corresponding administrative department for industry and commerce for registration of the Pledge Rights hereunder with the competent administration for market regulation pledge right under this Agreement within 30 working days from the date of signing this Agreement. The Parties agree that, parties jointly confirm that in order to handle the industrial and commercial registration procedures for the registration of the equity pledge, the Parties parties and other shareholders of Party C shall submit this Agreement, Agreement or an equity pledge contract executed (hereinafter referred to as “Industrial and Commercial Registration Pledge Contract”) signed in accordance with the form required by the administration administrative department for market regulation of industry and commerce in the place where Party C is located located, which truthfully truly reflects the pledge information hereunder (the “Pledge Contract for Registration Purpose”)under this Agreement, to the competent administration administrative department for market regulationindustry and commerce. In case of any matter Matters not mentioned agreed in the Industrial and Commercial Registration Pledge Contract for Registration Purpose, this Agreement shall applystill be subject to the Agreement. The ▇▇▇▇▇▇▇ Pledgor and Party C shall submit all necessary documents and complete go through all necessary procedures in accordance with Chinese Laws laws and regulations and the requirements of competent administration relevant administrative departments for market regulation, industry and commerce to ensure that the Pledge Rights are pledge right is registered as soon as possible after submitting the application. From the effective date of this Agreement, the Original Agreement shall immediately become null and no longer have any effect. 3.2 During the Pledge Periodpledge period, if the ▇▇▇▇▇▇▇ Pledgor and/or Party C fail to fulfill their Contractual Obligations perform the contractual obligations or repay pay the Guaranteed Debtsguaranteed debts, the Pledgee shall be entitled (has the right but not obligated) no obligation to exercise the Pledge Rights in accordance with pledge right according to the provisions of this Agreement.

Pledge Period. 3.1 The Pledge Rights shall take effect from the date when on which the equity Equity pledge hereunder is registered with the competent administration for market regulation, regulation (the “Registration Authority”) where Party C is located. The validity period of the Pledge Rights (the “Pledge Period”) shall be from the said effective date until: (a) the last Secured Debt and shall remain effective until (1) all Contractual Obligations secured by the Pledge Rights have been fulfilled fully repaid and all Guaranteed Debts have been repaidfulfilled; or (2b) subject to Chinese Laws, the Pledgee and/or its designated person decide decides to purchase all equity of Party C C’s Equity held by the ▇▇▇▇▇▇▇ Pledgor in accordance with the Exclusive Option AgreementAgreement to the extent permitted by the Chinese Laws, the equity and all of Party C C’s Equity has been lawfully legally transferred to the Pledgee and/or its designated personparty, and the Pledgee and its subsidiaries and branches can lawfully engage in the business of Party C; or (c) the Pledgee decides to purchase all of Party C’s assets in accordance with the Exclusive Option Agreement to the extent permitted by the Chinese Laws, and all of Party C’s assets have been legally transferred to the Pledgee and/or its designated person party, and the Pledgee and its subsidiaries and branches can use the said assets to lawfully engage in Party C’s business. The ▇▇▇▇▇▇▇ ; or (d) the Pledgee unilaterally requests termination of this Agreement (the Pledgee’s right to terminate this Agreement is not subject to any restrictive conditions and is only applicable to the Pledgee, and neither the Pledgor nor Party C shall: (1) register has the Pledge Rights hereunder on the register of shareholders of Party C within 3 working days from the date of right to unilaterally terminate this Agreement); and or (2e) apply for registration of the Pledge Rights hereunder with the competent administration for market regulation within 30 working days from the date of this Agreement. The Parties agree that, in order to handle the procedures for the registration of the equity pledge, the Parties and other shareholders of Party C shall submit this Agreement, or an equity pledge contract executed in the form required by the administration for market regulation of the place where Party C is located which truthfully reflects the pledge information hereunder (the “Pledge Contract for Registration Purpose”), to the competent administration for market regulation. In case of any matter not mentioned in the Pledge Contract for Registration Purpose, this Agreement shall apply. The ▇▇▇▇▇▇▇ and Party C shall submit all necessary documents and complete all necessary procedures it should be terminated in accordance with applicable Chinese Laws and regulations and the requirements of competent administration for market regulation, to ensure that the Pledge Rights are registered as soon as possible after submitting the application. From the effective date of this Agreement, the Original Agreement shall immediately become null and no longer have any effectregulations. 3.2 During the Pledge Period, if the ▇▇▇▇▇▇▇ Party B and/or Party C fail to fulfill their Contractual Obligations or repay their Secured Debts (including but not limited to failing to pay the Guaranteed Debtsexclusive consulting or service fees according to the Business Cooperation Agreement or failing to fulfill other provisions of any Transaction Agreement), the Pledgee shall be entitled (but not be obligated) to exercise dispose of the Pledge Rights in accordance with the provisions of this Agreement.hereof. ​

Pledge Period. 3.1 The 1. This Contract shall come into force as of the date of its execution, and the Pledge Rights Right hereunder shall take effect from become effective as of the date when the equity pledge hereunder same is registered with the competent administration for market regulation, and shall remain effective until (1) all Contractual Obligations have been fulfilled and all Guaranteed Debts have been repaid; or (2) subject to Chinese Laws, the Pledgee and/or its designated person decide to purchase all equity of Party C held by the ▇▇▇▇▇▇▇ recorded in accordance with the Exclusive Option Agreement, the equity of Party C has been lawfully transferred to the Pledgee and/or its designated person, and the Pledgee and its designated person can lawfully engage in Party C’s business. The ▇▇▇▇▇▇▇ and Party C shall: (1) register the Pledge Rights hereunder on the register of shareholders of Party C the Domestic Company (see Annex III) and the equity pledge registration with the Beijing Municipal Administration for Market Regulation is completed and shall be valid for the same period as the Service Agreement. Both the Pledgors and the Domestic Company shall (A) register the Pledge Right hereunder in the register of shareholders of the Domestic Company within 3 working business days from the date of this Agreement; hereof, and (2B) apply for registration of the Pledge Rights hereunder with to the competent administration for market regulation for the registration of the Pledge Right hereunder within 30 working business days from the date of this Agreementhereof. The Parties agree jointly acknowledge that, in order to handle go through the business registration procedures for the registration of the equity pledge, the Parties and other shareholders of Party C they shall submit to the competent administration for market regulation this Agreement, Contract or an equity pledge contract (hereinafter referred to as the “Pledge Contract for Business Registration”) which is executed in the form required by the local administration for market regulation of related to the place where Party C is located Domestic Company and which truthfully truly reflects the pledge information hereunder (about the “Pledge Contract for Registration Purpose”), to the competent administration for market regulationRight hereunder. In case of any matter Matters not mentioned provided in the Pledge Contract for Business Registration Purpose, this Agreement shall applystill be subject to the provisions hereof. The ▇▇▇▇▇▇▇ Pledgors and Party C shall submit all necessary documents and complete all necessary procedures the Domestic Company shall, in accordance with Chinese Laws the PRC laws and regulations and the requirements of competent the relevant administration for market regulation, submit all necessary documents and go through all necessary procedures to ensure that the Pledge Rights are Right can be registered as soon as possible after submitting the submission of the application. From the effective date of this Agreement, the Original Agreement shall immediately become null and no longer have any effect. 3.2 2. During the Pledge Periodpledge process, if the ▇▇▇▇▇▇▇ and/or Party C fail Domestic Company fails to fulfill their Contractual Obligations or repay pay the Guaranteed Debtstechnology development, the Pledgee shall be entitled (but not obligated) to exercise the Pledge Rights consulting and service fees in accordance with the provisions of the Service Agreement, the Pledgee shall have the right to dispose of the Pledge Right in accordance with this AgreementContract and the relevant PRC laws and regulations.