Common use of SECURED DEBTS Clause in Contracts

SECURED DEBTS. The Pledgor and the Target Company agree that the pledge of shares under Clause 2 hereof (“Pledge of Shares”) shall be completed to secure all obligations and debts assumed by the obligor to the Lender/Pledgee under Finance Documents (whether actual or threatened, and whether incurred by the obligor individually or jointly with others, or otherwise), including, without limitation, the principal, interest, compound interest and default interest, liquidated damages, costs and expenses incurred for realization of the claims under Finance Documents, and costs and expenses incurred for retention and maintenance of the pledge/collateral (collectively, the “Secured Debts”). Interest, default interest and compound interest shall be calculated according to the Facility Agreement untill the debts are discharged in full. Costs and expenses incurred for realization of the claims under Finance Documents include, without limitation, taxes applicable to transfer of the pledge/collateral, announcement fee, fee for service of process, expert’s fee, attorney’s fee, arbitration cost, legal cost, travel cost, evaluation cost, auction cost, property preservation cost, and specific performance cost. Non-RMB currency shall be converted into RMB at the RMB middle exchange rate published by the People’s Bank of China on the business day prior to the actual date when the specific transaction occurs.