exv10w7






Exhibit 10.7




Share Pledge Agreement




     This Share Pledge Agreement (this “Agreement”) has been executed by and among the
following Parties on this ___ day of ______, in Beijing:



	 	 	 

	Party A:

	 	Beijing Bitauto Internet Information Company (hereinafter
“Pledgee”)
	 
	 	 
	Address:

	 	Beijing New Century Hotel Office Building 6 Flr, No.6 Beijing
Capital Stadium Road South, Haidian District, Beijing, P.R.
China 100044
	 
	 	 
	Party B:

	 	[a shareholder of our PRC SPEs] (hereinafter “Pledgor”)
	ID Number:

	 	
	 
	 	 
	Party C:

	 	[one of our PRC SPEs]
	Address:

	 	






     In this Agreement, each of Pledgee, Pledgor and Party C shall be referred to as a “Party”
respectively, and they shall be collectively referred to as the “Parties”.



     Whereas,




	 	1.	 	Pledgor is the citizens of the People’s Republic of China (“China”), and holds 80%
of the equity interest in Party C. Party C is a limited liability company registered in
Beijing, China engaging in e-commerce and internet content provision business. Party C
intends to acknowledge the respective rights and obligations of Pledgor and Pledgee under
this Agreement, and to provide any necessary assistance in registering the Pledge;
	 
	 	2.	 	Pledgee is a Wholly Foreign Owned Enterprise registered in Beijing, China. Pledgee
and Party C have executed an Exclusive Business Cooperation Agreement on _________;
	 
	 	3.	 	To ensure that Pledgee collects all payments due by Party C, including without
limitation the consulting and service fees regularly from Party C, Pledgor hereby pledges
all of the equity interest he holds in Party C as security for Party C’s payment of the
consulting and service fees under the Exclusive Business Cooperation Agreement.





     To perform the provisions of the Business Cooperation Agreement, the Parties have mutually
agreed to execute this Agreement upon the following terms.



1. Definitions





Unless otherwise provided herein, the terms below shall have the following meanings:




	 	1.1	 	Pledge: shall refer to the security interest granted by Pledgor to Pledgee




1









 






	 	 	 	pursuant to Article 2 of this Agreement, i.e., the right of Pledgee to be compensated on
a preferential basis with the conversion, auction or sales price of the Equity Interest.
	 
	 	1.2	 	Equity Interest: shall refer to all of the equity interest lawfully now held and
hereafter acquired by Pledgor in Party C.
	 
	 	1.3	 	Term of Pledge: shall refer to the term set forth in Section 3 of this Agreement.
	 
	 	1.4	 	Business Cooperation Agreement: shall refer to the Exclusive Business Cooperation
Agreement executed by and between Pledgee and Party C, partially owned by Pledgor on
_________.
	 
	 	1.5	 	Event of Default: shall refer to any of the circumstances set forth in Article 7 of
this Agreement.
	 
	 	1.6	 	Notice of Default: shall refer to the notice issued by Pledgee in accordance with
this Agreement declaring an Event of Default.





2. The Pledge





As collateral security for the prompt and complete payment and performance when due (whether
at stated maturity, by acceleration or otherwise) of any or all the payments due by Party C,
including without limitation the consulting and services fees payable to the Pledgee under the
Business Cooperation Agreement, Pledgor hereby pledges to Pledgee a first security interest in
all of Pledgor’s right, title and interest, whether now owned or hereafter acquired by
Pledgor, in the Equity Interest of Party C.



3. Term of Pledge





	 	3.1	 	The Pledge shall become effective as of the date when the pledge of the Equity
Interest is registered in the shareholders’ register of Party C. The Pledge shall be
continuously valid until all payments due under the Business Cooperation Agreement have
been fulfilled by Party C. The Parties agree that Pledgor and Party C shall register the
Pledge in the shareholders’ register of Party C within 3 business days following the
execution of this Agreement.
	 
	 	3.2	 	During the Term of Pledge, in the event Party C fails to pay the exclusive
consulting or service fees in accordance with the Business Cooperation Agreement, Pledgee
shall have the right, but not the obligation, to dispose of the Pledge in accordance with
the provisions of this Agreement.





4. Custody of Records for Equity Interest subject to Pledge





	 	4.1	 	During the Term of Pledge set forth in this Agreement, Pledgor shall deliver to
Pledgee’s custody the capital contribution certificate for the Equity Interest and the
shareholders’ register containing the Pledge within




2









 






	 	 	 	one week from the execution of this Agreement. Pledgee shall have custody of such items
during the entire Term of Pledge set forth in this Agreement.
	 
	 	4.2	 	Pledgee shall have the right to collect dividends generated by the Equity Interest
during the Term of Pledge.





5. Representations and Warranties of Pledgor





	 	5.1	 	Pledgor is the sole legal and beneficial owner of the Equity Interest.
	 
	 	5.2	 	Pledgee shall have the right to dispose of and transfer the Equity Interest in
accordance with the provisions set forth in this Agreement.
	 
	 	5.3	 	Except for the Pledge, Pledgor has not placed any security interest or other
encumbrance on the Equity Interest.





6. Covenants and Further Agreements of Pledgor





	 	6.1	 	Pledgor hereby covenants to the Pledgee, that during the term of this Agreement,
Pledgor shall:






	 	6.1.1	 	not transfer the Equity Interest, place or permit the existence of any
security interest or other encumbrance that may affect the Pledgee’s rights and
interests in the Equity Interest, without the prior written consent of Pledgee,
except for the performance of the Exclusive Option Agreement executed by Pledgor,
Pledgee and Party C on _________;
	 
	 	6.1.2	 	comply with the provisions of all laws and regulations applicable to
the pledge of rights, and within 5 days of receipt of any notice, order or
recommendation issued or prepared by relevant competent authorities regarding the
Pledge, shall present the aforementioned notice, order or recommendation to
Pledgee, and shall comply with the aforementioned notice, order or recommendation
or submit objections and representations with respect to the aforementioned matters
upon Pledgee’s reasonable request or upon consent of Pledgee;
	 
	 	6.1.3	 	promptly notify Pledgee of any event or notice received by Pledgor
that may have an impact on Pledgee’s rights to the Equity Interest or any portion
thereof, as well as any event or notice received by Pledgor that may have an impact
on any guarantees and other obligations of Pledgor arising out of this Agreement.






	 	6.2	 	Pledgor agrees that the rights acquired by Pledgee in accordance with this
Agreement with respect to the Pledge shall not be interrupted or harmed by Pledgor or any
heirs or representatives of Pledgor or any other persons through any legal proceedings.
	 
	 	6.3	 	To protect or perfect the security interest granted by this Agreement for




3









 






	 	 	 	payment of the consulting and service fees under the Business Cooperation Agreement,
Pledgor hereby undertakes to execute in good faith and to cause other parties who have
an interest in the Pledge to execute all certificates, agreements, deeds and/or
covenants required by Pledgee. Pledgor also undertakes to perform and to cause other
parties who have an interest in the Pledge to perform actions required by Pledgee, to
facilitate the exercise by Pledgee of its rights and authority granted thereto by this
Agreement, and to enter into all relevant documents regarding ownership of Equity
Interest with Pledgee or designee(s) of Pledgee (natural/legal persons). Pledgor
undertakes to provide Pledgee within a reasonable time with all notices, orders and
decisions regarding the Pledge that are required by Pledgee.
	 
	 	6.4	 	Pledgor hereby undertakes to comply with and perform all guarantees, promises,
agreements, representations and conditions under this Agreement. In the event of failure
or partial performance of its guarantees, promises, agreements, representations and
conditions, Pledgor shall indemnify Pledgee for all losses resulting therefrom.





7. Event of Breach





	 	7.1	 	The following circumstances shall be deemed Event of Default:






	 	7.1.1	 	Party C fails to pay in full any of the consulting and service fees
payable under the Business Cooperation Agreement or breaches any other obligations
of Party C thereunder;
	 
	 	7.1.2	 	Any representation or warranty by Pledgor in Article 5 of this
Agreement contains material misrepresentations or errors, and/or Pledgor violates
any of the warranties in Article 5 of this Agreement;
	 
	 	7.1.3	 	Pledgor and Party C fail to register the Pledge in the shareholders’
register of Party C stipulated in Section 3.1;
	 
	 	7.1.4	 	Pledgor and Party C breach any provisions of this Agreement;
	 
	 	7.1.5	 	Except as expressly stipulated in Section 6.1.1, Pledgor transfers or
purports to transfer or abandons the Equity Interest pledged or assigns the Equity
Interest pledged without the written consent of Pledgee;
	 
	 	7.1.6	 	Any of Pledgor’s own loans, guarantees, indemnifications, promises or
other debt liabilities to any third party or parties (1) become subject to a demand
of early repayment or performance due to default on the part of Pledgor; or (2)
become due but are not capable of being repaid or performed in a timely manner;
	 
	 	7.1.7	 	Any approval, license, permit or authorization of government agencies
that makes this Agreement enforceable, legal and effective is withdrawn,
terminated, invalidated or substantively changed;




4









 






	 	7.1.8	 	The promulgation of applicable laws renders this Agreement illegal or
renders it impossible for Pledgor to continue to perform its obligations under this
Agreement;
	 
	 	7.1.9	 	Adverse changes in properties owned by Pledgor, which lead Pledgee to
believe that that Pledgor’s ability to perform its obligations under this Agreement
has been affected;
	 
	 	7.1.10	 	The successor or custodian of Party C is capable of only partially perform or
refuses to perform the payment obligations under the Business Cooperation
Agreement; and
	 
	 	7.1.11	 	Any other circumstances occur where Pledgee is or may become unable to exercise
its right with respect to the Pledge.






	 	7.2	 	Upon notice or discovery of the occurrence of any circumstances or event that may
lead to the aforementioned circumstances described in Section 7.1, Pledgor shall
immediately notify Pledgee in writing accordingly.
	 
	 	7.3	 	Unless an Event of Default set forth in this Section 7.1 has been successfully
resolved to Pledgee’s satisfaction, Pledgee may issue a Notice of Default to Pledgor in
writing upon the occurrence of the Event of Default or at any time thereafter and demand
that Pledgor immediately pay all outstanding payments due under the Business Cooperation
Agreement and all other payments due to Pledgee, and/or dispose of the Pledge in
accordance with the provisions of Article 8 of this Agreement.





8. Exercise of Pledge





	 	8.1	 	Prior to the full payment of the consulting and service fees described in the
Business Cooperation Agreement, without the Pledgee’s written consent, Pledgor shall not
assign the Pledge or the Equity Interest in Party C.
	 
	 	8.2	 	Pledgee may issue a Notice of Default to Pledgor when exercising the Pledge.
	 
	 	8.3	 	Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce
the Pledge concurrently with the issuance of the Notice of Default in accordance with
Section 7.2 or at any time after the issuance of the Notice of Default. Once Pledgee
elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or
interests associated with the Equity Interest.
	 
	 	8.4	 	In the event of default, Pledgee is entitled to take possession of the Equity
Interest pledged hereunder and to dispose of the Equity Interest pledged, to the extent
permitted and in accordance with applicable laws, without obligation to account to
Pledgor for proceeds of disposition and Pledgor hereby waives any rights it may have to
demand any such accounting from Pledgee. Likewise, in such circumstance Pledgor shall
have no obligation to Pledgee for any deficiency remaining after such disposition of the
Equity




5









 






	 	 	 	Interest pledged.
	 
	 	8.5	 	When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and
Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in
accordance with this Agreement.





9. Assignment





	 	9.1	 	Without Pledgee’s prior written consent, Pledgor shall not have the right to assign
or delegate its rights and obligations under this Agreement.
	 
	 	9.2	 	This Agreement shall be binding on Pledgor and its successors and permitted
assigns, and shall be valid with respect to Pledgee and each of its successors and
assigns.
	 
	 	9.3	 	At any time, Pledgee may assign any and all of its rights and obligations under the
Business Cooperation Agreement to its designee(s) (natural/legal persons), in which case
the assigns shall have the rights and obligations of Pledgee under this Agreement, as if
it were the original party to this Agreement. When the Pledgee assigns the rights and
obligations under the Business Cooperation Agreement, upon Pledgee’s request, Pledgor
shall execute relevant agreements or other documents relating to such assignment.
	 
	 	9.4	 	In the event of a change in Pledgee due to an assignment, Pledgor shall, at the
request of Pledgee, execute a new pledge agreement with the new pledgee on the same terms
and conditions as this Agreement.
	 
	 	9.5	 	Pledgor shall strictly abide by the provisions of this Agreement and other
contracts jointly or separately executed by the Parties hereto or any of them, including
the Exclusive Option Agreement and the Power of Attorney granted to Pledgee, perform the
obligations hereunder and thereunder, and refrain from any action/omission that may
affect the effectiveness and enforceability thereof. Any remaining rights of Pledgor with
respect to the Equity Interest pledged hereunder shall not be exercised by Pledgor except
in accordance with the written instructions of Pledgee.





10. Termination





Upon the full payment of the consulting and service fees under the Business Cooperation
Agreement and upon termination of Party C’s obligations under the Business Cooperation
Agreement, this Agreement shall be terminated, and Pledgee shall then cancel or terminate this
Agreement as soon as reasonably practicable.



11. Handling Fees and Other Expenses





All fees and out of pocket expenses relating to this Agreement, including but not limited to
legal costs, costs of production, stamp tax and any other taxes and fees, shall be borne by
Party C. If Law (not defined) requires that Pledgee should bear some related taxes and fees,
Pledgor shall cause Party C to fully repay Pledgee



6









 







the paid taxes and fees.



12. Confidentiality





The Parties acknowledge that any oral or written information exchanged among them with respect
to this Agreement is confidential information. Each Party shall maintain the confidentiality
of all such information, and without obtaining the written consent of other Parties, it shall
not disclose any relevant information to any third parties, except in the following
circumstances: (a) such information is or will be in the public domain (provided that this is
not the result of a public disclosure by the receiving party); (b) information disclosed as
required by applicable laws or rules or regulations of any stock exchange; or (c) information
required to be disclosed by any Party to its legal counsel or financial advisor regarding the
transaction contemplated hereunder, and such legal counsel or financial advisor are also bound
by confidentiality duties similar to the duties in this section. Disclosure of any
confidential information by the staff members or agency hired by any Party shall be deemed
disclosure of such confidential information by such Party, which Party shall be held liable
for breach of this Agreement. This section shall survive the termination of this Agreement for
any reason.



13. Governing Law and Resolution of Disputes





	 	13.1	 	The execution, effectiveness, construction, performance, and the resolution of
disputes hereunder shall be governed by the formally published and publicly available
laws of China. Matters not covered by formally published and publicly available laws of
China shall be governed by international legal principles and practices.
	 
	 	13.2	 	In the event of any dispute with respect to the construction and performance of the
provisions of this Agreement, the Parties shall negotiate in good faith to resolve the
dispute. In the event the Parties fail to reach an agreement on the resolution of such a
dispute within 30 days after any Party’s request for resolution of the dispute through
negotiations, any Party may submit the relevant dispute to the China International
Economic and Trade Arbitration Commission for arbitration, in accordance with its then
effective arbitration rules. The arbitration shall be conducted in Beijing, and the
language used during arbitration shall be Chinese. The arbitration ruling shall be final
and binding on all Parties.
	 
	 	13.3	 	Upon the occurrence of any disputes arising from the construction and performance
of this Agreement or during the pending arbitration of any dispute, except for the
matters under dispute, the Parties to this Agreement shall continue to exercise their
respective rights under this Agreement and perform their respective obligations under
this Agreement.





14. Notices





	 	14.1	 	All notices and other communications required or permitted to be given pursuant to
this Agreement shall be delivered personally or sent by




7









 






	 	 	 	registered mail, postage prepaid, by a commercial courier service or by facsimile
transmission to the address of such party set forth below. A confirmation copy of each
notice shall also be sent by E-mail. The dates on which notices shall be deemed to have
been effectively given shall be determined as follows:






	 	14.1.1	 	Notices given by personal delivery, by courier service or by registered mail,
postage prepaid, shall be deemed effectively given on the date of delivery or
refusal at the address specified for notices.
	 
	 	14.1.2	 	Notices given by facsimile transmission shall be deemed effectively given on the
date of successful transmission (as evidenced by an automatically generated
confirmation of transmission).






	 	14.2	 	For the purpose of notices, the addresses of the Parties are as follows:





	 	 	 	 	 

	 

	 	Party A:
	 	Beijing Bitauto Internet Information Company
	 
	 	 	 	 
	 

	 	Address:
	 	Beijing New Century Hotel Office Building 6 Flr, No.6 Beijing Capital Stadium
Road South, Haidian District, Beijing, P.R. China 100044
	 

	 	Attn:
	 	Ye Jing/Li Bin
	 

	 	Phone:
	 	6849 2345
	 

	 	Facsimile:
	 	6849 2726
	 
	 	 	 	 
	 

	 	Party B:
	 	[a shareholder of our PRC SPEs]
	 

	 	Address:
	 	
	 

	 	Tel:
	 	
	 
	 	 	 	 
	 

	 	Party C:
	 	[one of our PRC SPEs]]
	 

	 	Address:
	 	
	 

	 	Attn:
	 	
	 

	 	Phone:
	 	
	 

	 	Facsimile:
	 	







	 	14.3	 	Any Party may at any time change its address for notices by a notice delivered to
the other Parties in accordance with the terms hereof.





15. Severability





In the event that one or several of the provisions of this Contract are found to be invalid,
illegal or unenforceable in any aspect in accordance with any laws or regulations, the
validity, legality or enforceability of the remaining provisions of this Contract shall not be
affected or compromised in any respect. The Parties shall strive in good faith to replace such
invalid, illegal or unenforceable provisions with effective provisions that accomplish to the
greatest extent permitted by law and the intentions of the Parties, and the economic effect of
such effective provisions shall be as close as possible to the economic effect of those
invalid, illegal or unenforceable provisions.



8









 





16. Attachments




     The attachments set forth herein shall be an integral part of this Agreement.



17. Effectiveness





	 	17.1	 	Any amendments, changes and supplements to this Agreement shall be in writing and
shall become effective upon completion of the governmental filing procedures (if
applicable) after the affixation of the signatures or seals of the Parties.
	 
	 	17.2	 	This Agreement is written in Chinese and English in three copies. Pledgor, Pledgee
and Party C shall hold one copy respectively. Each copy of this Agreement shall have
equal validity. In case there is any conflict between the Chinese version and the
English version, the Chinese version shall prevail.





9









 





     IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this
Share Pledge Agreement as of the date first above written.



Party A: Beijing Bitauto Internet Information Company




	 	 	 	 	 

	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:

	 	Legal Representative	 	 
	 
	 	 	 	 
	Party B:

	 	[a shareholder of our PRC SPEs]	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	Party C:

	 	[one of our PRC SPEs]	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 


	 	 
	Title:

	 		 	 






[Signature Page to Share Pledge Agreement — Bitauto IT]









 









 








Attachments:





	1.	 	Shareholders’ register of Beijing Bitauto Information Technology Company Limited;
	 
	2.	 	The Capital Contribution Certificate for Beijing Bitauto Information Technology Company
Limited.;
	 
	3.	 	Exclusive Business Cooperation Agreement