Common use of Commitment of the Borrower Clause in Contracts

Commitment of the Borrower. 3.1 As a shareholder of the Borrower’s company, the Borrower irrevocably promises to urge the Borrower’s company to: 3.1.1 Strictly abide by the Exclusive Purchase Option Agreement to which the Borrower Company is a party and the provisions under the Amended and Restated Exclusive Consulting and Services Agreement (hereinafter referred to as the “Exclusive Consulting and Services Agreement”), and refrain from any acts/omissions that may affect the effectiveness and enforceability of the Exclusive Purchase Option Agreement and the Exclusive Consulting and Services Agreement; 3.1.2 At the request of the Lender (or its designated person), sign business cooperation contracts/agreements with the Lender (or its designated person) at any time and ensure the strict performance of such contracts/agreements; 3.1.3 At the request of the Lender, provide the Lender with all information on its operation and financial status; 3.1.4 Notify the Lender immediately of any litigation, arbitration or administrative procedures that may occur or may occur in relation to its assets, business and income; 3.1.5 At the request of the Lender, any person designated by the Lender shall be appointed as a director of the Borrower’s company. 3.2 The Borrower undertakes that during the validity period of the Contract, it shall: 3.2.1 Make the best efforts to enable the Borrower’s company to engage in the main business, and the specific business scope shall be subject to the business license; 3.2.2 Strictly abide by the provisions under this Contract, power of attorney, Amended and Restated Equity Pledge Agreement (hereinafter referred to as “Equity Pledge Agreement”) and the Exclusive Purchase Option Agreement to which it is a party, earnestly perform its obligations under this Contract, power of attorney, Equity Pledge Agreement and Exclusive Purchase Option Agreement, and refrain from any acts/omissions that may affect the effectiveness and enforceability of this Contract, power of attorney, Equity Pledge Agreement and Exclusive Purchase Option Agreement; 3.2.3 Except as provided for in the Equity Pledge Agreement, it shall not sell, transfer, mortgage or otherwise dispose of the legal or beneficial interests of the Borrower’s equity, or allow any other security interests to be set on it; 3.2.4 Urge the shareholders’ meeting and/or the board of directors of the Borrower’s company not to approve the sale, transfer, mortgage or other disposal of the legitimate or beneficial interests of the Borrower’s equity without the prior written consent of the Lender, or to allow any other security interests to be set thereon, except to the Lender or the person designated by the lender; 3.2.5 Urge the shareholders’ meeting and/or the board of directors of the Borrower’s company not to approve the Borrower’s company to merge or combine with anyone, or to purchase or invest in anyone without the prior written consent of the Lender; 3.2.6 Notify the Lender immediately of any lawsuit, arbitration or administrative procedure that may occur or may occur in relation to the Borrower’s equity; 3.2.7 In order to maintain its ownership of the Borrower’s equity, it shall sign all necessary or appropriate documents, take all necessary or appropriate actions and make all necessary or appropriate charges or defend all claims; 3.2.8 Without the prior written consent of the Lender, the Borrower shall not do any act and/or omission that may have any significant impact on the assets, business and responsibilities of the Borrower’s company; 3.2.9 At the request of the Lender, any person designated by the Lender shall be appointed as a director of the Borrower’s company. 3.2.10 Under the premise permitted by Chinese laws, if requested by the Lender at any time, it shall unconditionally and immediately transfer the Borrower’s equity at any time to the Lender or its designated person, and urge other shareholders of the Borrower’s company to give up their preemptive right to the equity transfer mentioned in this paragraph; 3.2.11 Under the premise permitted by Chinese laws, if requested by the Lender at any time, it shall urge other shareholders of the Borrower’s company to transfer unconditionally and immediately all the equity owned by the shareholder in the Borrower’s company to the Lender or its designated person at any time, and the Borrower hereby waives its preemptive right to the equity transfer mentioned in this paragraph; 3.2.12 If the Lender or its designated person purchases the Borrower’s equity from the Borrower in accordance with the provisions of the Exclusive Purchase Option Agreement, the Borrower shall give priority to repay the loan to the Lender with all such purchase price and pay it to the Lender or the person designated by the Lender in such manner as designated by the Lender; And 3.2.13 Without the Lender’s prior written consent, it shall not supplement, change or modify its Articles of Association in any form, increase or decrease its registered capital, or change its share capital structure in any form.