Common use of Share Charge Clause in Contracts

Share Charge. After Signing of VIE Contracts, (i) the applicable Founders Group (the “Chargors”) shall and the Company shall procure the Chargors to timely charge certain shares of the Company then held by the Chargors in the Company representing the shareholding percentage equal to 0.77% of the Company to the Lender to secure the Loan (the “Charged Shares”), (ii) the Chargors and the Lender shall enter into a charge agreement in the form and substance satisfactory to the Lender (the “Charge Agreement”), and (iii) the Chargors shall and the rest Founders Group who are not Chargors shall procure the Chargors to deliver or cause to be delivered to the Lender (w) the original share certificate(s) of the Charged Share(s) (the “Charged Share Certificates”), (x) a signed and undated instrument of transfer (the “Unsigned IOT”) for the Charged Shares to be transferred to the Lender at a nil consideration, (y) a legal opinion issued by the Cayman Islands counsel of the Company addressed to the Lender regarding the validity, legality and enforceability of the Share Charge (as defined below), in the form and substance satisfactory to the Lender, and (z) other documents or evidences as may be reasonably required by the Lender with regard to the perfection of the Share Charge (collectively, the “Share Charge”).