Common use of Pledge Right Clause in Contracts

Pledge Right. 2.1 The Pledgor hereby agrees to pledge the pledged equity to the Pledgee as a guarantee for the performance of the contractual obligations and repayment of the guaranteed debts in accordance with the Agreement. Party C hereby agrees that the Pledgor will pledge the pledged equity to the Pledgee in accordance with the agreement. 2.2 During the pledge period, the Pledgee has the right to receive dividends or bonuses generated from the pledged equity. The Pledgor may receive dividends or bonuses for the pledged equity only with the prior written consent of the Pledgee. After deducting the personal income tax paid by the Pledgor, the dividends or bonuses distributed by the Pledgor due to the pledged equity shall be (1) deposited into the designated account of the Pledgee, subject to the supervision of the Pledgee, and used for the guarantee contract and the first repayment of the guaranteed debts according to the requirements of the Pledgee; or (2) on the premise of not violating Chinese laws, such bonuses and dividends will be unconditionally presented to the Pledgee or the person designated by the Pledgee. 2.3 The Pledgor may increase the capital of Party C only with the prior written consent of the Pledgee. The capital contribution increased by the Pledgor in the registered capital of Party C due to the capital increase of Party C also belongs to pledged equity. 2.4 If Party C is required to dissolve or liquidate according to the mandatory provisions of Chinese laws, any benefits distributed to the Pledgor from Party C according to law after Party C completes the dissolution or liquidation procedures according to law shall be (1) deposited into the designated account of the Pledgee, subject to the supervision of the Pledgee, and used for the guarantee contract and the first repayment of the guaranteed debts according to the requirements of the Pledgee; or (2) on the premise of not violating Chinese laws, such bonuses and dividends will be unconditionally presented to the Pledgee or the person designated by the Pledgee.

Pledge Right. 2.1 The Pledgor hereby agrees to pledge the pledged equity Pledged Equity to the Pledgee in accordance with the provisions of the Agreement as a guarantee security for the performance of the contractual obligations Contractual Obligations and the repayment of the guaranteed debts in accordance with the AgreementSecured Debts. Party C hereby agrees that the Pledgor will pledge the pledged equity Pledged Equity to the Pledgee in accordance with the agreementprovisions of the Agreement. 2.2 During The valid of the pledge periodguarantee under the Agreement will not be affected by any modification or change of the Transaction Documents, and the guarantee under the Agreement is still valid for the obligations of the Pledgor and Party C under the revised Transaction Documents. If any Transaction Document becomes invalid, revoked or terminated for any reason, the Pledgee has shall have the right to forthwith exercise the Pledge Right in accordance with the provisions of Article 8 of the Agreement. ​ 2.3 During the Pledge Period, the Pledgee shall have the right to receive the bonuses or dividends or bonuses generated from by the pledged equityPledged Equity. The Pledgor may receive dividends or bonuses for the pledged equity only Only with the prior written consent of the Pledgee, can the Pledgor receive dividends or bonuses for the Pledged Equity. After deducting The dividends or bonuses received by the Pledgor due to the Pledged Equity, net of the personal income tax paid by the Pledgor, the dividends or bonuses distributed by the Pledgor due shall be, according to the pledged equity shall be requirements of the Pledgee, (1) deposited into in the account designated account by the Pledgee and used as security for the Contractual Obligations and repayment of the PledgeeSecured Debts, subject to the supervision of the Pledgee, and used for the guarantee contract and the first repayment of the guaranteed debts according to the requirements of the Pledgee; or (2) on the premise of not violating Chinese laws, such bonuses and dividends will be unconditionally presented donated to the Pledgee or the person designated by the Pledgee.Pledgee unconditionally under the premise of not violating Chinese laws. ​ 2.3 The Pledgor may increase the capital of Party C only 2.4 Only with the prior written consent of the Pledgee. The capital contribution increased by , can the Pledgor in increase ​ ​ the registered capital of Party C C. The increased contribution of the Pledgor to the company’s registered capital due to the capital increase of Party C the company also belongs to pledged equity.the Pledged Equity. After the capital increase is completed, the Pledgor shall promptly cooperate with the Pledgee to go through the procedures of the equity pledge registration for the increased capital contribution. ​ 2.4 2.5 If Party C it is required to dissolve or liquidate according to Party C in accordance with the mandatory provisions of Chinese laws, any benefits legally distributed to the Pledgor from after the completion of the dissolution and liquidation procedures of Party C C, shall be, according to law after Party C completes the dissolution or liquidation procedures according to law shall be requirements of the Pledgee, (1) deposited into in the account designated account by the Pledgee and used as security for the Contractual Obligations and repayment of the PledgeeSecured Debts, subject to the supervision of the Pledgee, and used for the guarantee contract and the first repayment of the guaranteed debts according to the requirements of the Pledgee; or (2) on the premise of not violating Chinese laws, such bonuses and dividends will be unconditionally presented donated to the Pledgee or the person designated by the Pledgee.Pledgee unconditionally under the premise of not violating Chinese laws. ​

Pledge Right. 2.1 The Pledgor Pledgors hereby agrees agree to pledge the pledged equity such shares legally owned and entitled to dispose by pledgors pursuant to the Pledgee agreement as a guarantee for the performance of the contractual to fulfill obligations and repayment of the guaranteed debts in accordance with the Agreementpay pledge liabilities. Party C hereby agrees that the Pledgor will pledgors pledge the pledged equity such shares to the Pledgee in accordance with the agreementpledgee according to provisions hereof. 2.2 During Pledge subject and specific shares’ amount: pledge subject is the following total shares’ equity of Party C held by each pledgors: ▇▇▇▇▇ ▇▇▇▇ holds 97.5% shares of Party C which is 9,750,000 yuan of the registered capital, and pledges all of them; SU Dianli holds 2.5% shares of Party C which is 250,000 yuan of the registered capital, and pledges all of them; 2.3 The pledge effectiveness hereof will not be influenced by any modification or change of transaction files, and the pledge periodeffectiveness hereof will be valid to obligations of pledgors and Party C under the transaction files after the modification. If any transaction file becomes invalid, canceled or relieved out of any reason, pledgee has right to execute pledge right immediately pursuant to term 8 hereof. 2.4 In the period of pledge, pledgee is entitled to acquire dividend or interests on pledge shares. In the condition of prior written consent, pledgors can obtain dividend or interests on pledge shares. After deducted personal income tax, according to requirements of pledgee, the Pledgee has the right to receive dividends dividend or bonuses generated from the pledged equity. The Pledgor may receive dividends or bonuses for the pledged equity only with the prior written consent of the Pledgee. After deducting the personal income tax paid interests on pledge shares by the Pledgor, the dividends or bonuses distributed by the Pledgor due to the pledged equity shall be pledgors should be: (1) deposited into the saved in designated account of the Pledgee, subject to the under supervision of the Pledgee, pledgee and used for the guarantee contract to complete obligations hereof and the first repayment of the guaranteed debts according to the requirements of the Pledgeepay pledge liabilities first; or (2) bestowed to persons designated by pledgee or pledgors without any conditions on the premise of not violating breaking Chinese laws, such bonuses and dividends will be unconditionally presented to the Pledgee or the person designated by the Pledgee. 2.3 The Pledgor may increase 2.5 Under the capital condition of Party C only with the prior written consent from pledgee, pledgors can increase capital to Party C. The amount of the Pledgee. The capital contribution increased by the Pledgor in the registered capital because of Party C due to the pledgors increasing capital increase of Party C also belongs to pledged equitypledge shares. 2.4 2.6 If Party C is required needs to dissolve or liquidate according clear accounts pursuant to the mandatory compulsive provisions of Chinese laws. As pledgee requires, any benefits distributed to the Pledgor profit pledgors obtain from Party C according to under the law after Party C completes the dissolution or liquidation procedures according to law shall clearing of it should be (1) deposited into the saved in a designated account of the Pledgee, subject to the pledgee under its supervision of the Pledgee, and used for the guarantee contract to complete obligations hereof and the first repayment pay liabilities of the guaranteed debts according to the requirements of the Pledgeepledge first; or (2) bestowed to persons designated by pledgee or pledgors without any conditions on the premise of not violating breaking Chinese laws, such bonuses and dividends will be unconditionally presented to the Pledgee or the person designated by the Pledgee.