Common use of THE PLEDGED INTERESTS Clause in Contracts

THE PLEDGED INTERESTS. 2.1 Pledgor hereby pledge all its equity interests in Xuhua Trading to secure performance of all obligations, penalties, damages, costs of exercising the pledged interests and any indebtedness to Pledgee pursuant to the terms of the Transaction Agreement. 2.2 The Pledge Interests hereunder means the rights and interests owned by Pledgee and take the right to request first priority repayment which Pledgor pledge its equity interest to Pledgee as collateral for securing his obligation. 2.3 Unless the Pledgee otherwise consent in writing after the execution of this Agreement, the pledge under this Agreement shall be valid until the obligations have been fully discharged and have been permitted by Pledgee in writing.

THE PLEDGED INTERESTS. 2.1 Pledgor hereby pledge all its equity interests in Xuhua Trading Kaiyuan Logistics to secure performance of all obligations, penalties, damages, costs of exercising the pledged interests and any indebtedness to Pledgee pursuant to the terms of the Transaction Agreement. 2.2 The Pledge Interests hereunder means the rights and interests owned by Pledgee and take the right to request first priority repayment which Pledgor pledge its equity interest to Pledgee as collateral for securing his obligation. 2.3 Unless the Pledgee otherwise consent in writing after the execution of this Agreement, the pledge under this Agreement shall be valid until the obligations have been fully discharged and have been permitted by Pledgee in writing.

THE PLEDGED INTERESTS. 2.1 Pledgor hereby pledge all its equity interests in Xuhua Trading Kaiyuan Auto Trade to secure performance of all obligations, penalties, damages, costs of exercising the pledged interests and any indebtedness to Pledgee pursuant to the terms of the Transaction Agreement. 2.2 The Pledge Interests hereunder means the rights and interests owned by Pledgee and take the right to request first priority repayment which Pledgor pledge its equity interest to Pledgee as collateral for securing his obligation. 2.3 Unless the Pledgee otherwise consent in writing after the execution of this Agreement, the pledge under this Agreement shall be valid until the obligations have been fully discharged and have been permitted by Pledgee in writing.

THE PLEDGED INTERESTS. 2.1 Pledgor hereby pledge all its equity interests in Xuhua Trading 4S Stores to secure performance of all obligations, penalties, damages, costs of exercising the pledged interests and any indebtedness to Pledgee pursuant to the terms of the Transaction Agreement. 2.2 The Pledge Interests hereunder means the rights and interests owned by Pledgee and take the right to request first priority repayment which Pledgor pledge its equity interest to Pledgee as collateral for securing his obligation. 2.3 Unless the Pledgee otherwise consent in writing after the execution of this Agreement, the pledge under this Agreement shall be valid until the obligations have been fully discharged and have been permitted by Pledgee in writing.

THE PLEDGED INTERESTS. 2.1 Pledgor hereby pledge all its equity interests in Xuhua Trading Chuanglian Auto Trade to secure performance of all obligations, penalties, damages, costs of exercising the pledged interests and any indebtedness to Pledgee pursuant to the terms of the Transaction Agreement. 2.2 The Pledge Interests hereunder means the rights and interests owned by Pledgee and take the right to request first priority repayment which Pledgor pledge its equity interest to Pledgee as collateral for securing his obligation. 2.3 Unless the Pledgee otherwise consent in writing after the execution of this Agreement, the pledge under this Agreement shall be valid until the obligations have been fully discharged and have been permitted by Pledgee in writing.