Common use of Creation of Security Clause in Contracts

Creation of Security. (a) Any Security is created or subsists over the shares in the Ultimate Parent; or (b) Except for the VIE Equity Pledges, any Security is created or subsists over the equity interests in the GDS Management Co., GDS Beijing, or GDS Suzhou, in each case in a manner not consistent with provisions of this Agreement.

Creation of Security. (a) Any Security is created or subsists over the shares in the Ultimate Parent; or, (b) Except for the VIE Equity Pledges, any Security is created or subsists over the equity interests in the GDS Management Co.Guarantor, GDS Beijing, the New WFOE or GDS Suzhou, in each case in a manner not consistent with provisions of this Agreement.