Exhibit 4.47 

 

**Second Amended and Restated Equity Interests Pledge Agreement**

 

This Amended and Restated Equity Interests Pledge Agreement (the “Agreement”) isentered into on the day of December 30, 2004 by and between the following parties: 

 

**Pledgee:**eLongNet Information Technology (Beijing) Co., Ltd. 

**Address:**10 Jiuxianqiao Road, Chaoyang District, Beijing 

**Legal Representative:** Tang Yue 

 

**Pledgor:**Raymond Huang 

**ID No.:**11010819751101971X 

**Address:**Room 2305, Guanzhuang Yangguanghuayuan International Mansion-D, Chaoyang District, Beijing 

 

**WHEREAS:**

 

(1). The Pledgor owns 12.5% of the equity interest in Beijing eLong Information Technology Co., Ltd. (hereinafter “BeijingeLong”). Beijing eLong is a wholly domestic-owned company registered under the People’s Republic of China (hereinafter “China”) laws and regulations and qualified to engage in Internet information service business and operate thewebsite of ***www.elong.com****(*hereinafter “eLongNet”); 

 

(2). The Pledgee and Beijing eLong entered into Exclusive Technical Consulting and Services Agreement on the date of February 1, 2001 and entered into the Supplementary Agreement of Exclusive Technical Consulting and Services Agreement onthe date of August 22,2003 (the Exclusive Technical Consulting and Services Agreement and the relevant Supplementary Agreement hereinafter “**Service Agreement**”). Both parties amend and restate the **Service Agreement**in furtheron July 20, 2004, in which the Pledgee agreed that Pledgee has the exclusive right to provide Beijing Information with technical services relating to its website operations; 

 

(3). The Pledgee and Beijing eLong signed an Amended and Restated Trademark License Agreement (“Trademark License Agreement”) onJuly 20, 2004, the Pledgee agrees that Beijing eLong shall use some trademarks in accordance with the agreement; 

 

(4). The Pledgee and Beijing eLong signed an Amended and Restated Domain Name License Agreement (“Domain Name License Agreement”) on July 20, 2004, the Pledgeeagrees that Beijing eLong shall use some domain names in accordance with the agreement; 

 

(5). The Pledgee, Qu Zhi with former possession of 25% equity interest in Beijing eLong and Beijing eLong signed an Amended and Restated Business Operation Agreement (“Business Operation Agreement”) on July 20, 2004. According tothe agreement, Beijing eLong agrees not to conduct any business probably taking great effect on the capital, debt or right of the Pledgee, without the prior written consent of the Pledgee; 

 

(6) The Pledgee and Beijing eLong signed an Amended and Restated Cooperation Agreement(“Cooperation Agreement”) on July 20, 2004. According to the agreement, Beijing eLong agrees to cooperate with the Pledgee, and make joint efforts to engage the online hotel reservation through *www.elong.com*and the relevantbusiness; 

 

(7) According to the Stock Transfer and Debt Transfer Agreementsigned between Party C, Party D and Qu Zhi on December 30th 2004, the Pledgor is assigned with the 25% equityinterest in Beijing eLong by Qu Zhi and pro rata the entire credit-debt relationship with Beijing eLong incurred from Qu Zhi. 

 

(8) In order to make sure that Beijing eLong performs the obligations of payment for the technical service and softwarelicense of eLongNet’s operation, and performs the obligations related with the Pledgee in “Trademark License Agreement”, “Domain Name License Agreement”, “Business Operation Agreement” and “CooperationAgreement”, the Pledgor inherits the Amended and Restate Equity Interests Pledge Agreement signed with the Pledgee and Qu Zhi, and the Pledgor is willing to pledge all of its equity interest in Beijing eLong to the Pledgee. 

 

Therefore the Pledgee and the Pledgor through mutual negotiations hereby enter into thisAgreement based upon the following terms: 

 

1.*Definitions And Interpretation*

 

Unless otherwise provided in thisAgreement, the following terms shall have the following meanings: 

 

1.1 Pledgemeans the full content of Article 2 hereunder 

 

1.2 Equity Interest means allequity interests in Beijing eLong legally held by the Pledgor. 

 

1.3 Rate ofPledge means the ratio between the value of the pledge under this Agreement and the exclusive technical consulting and service fees under the Technical Service Agreement signed between Beijing eLong and the Pledgee and any supplement thereto.

 

1.4 Term of Pledge means the period provided for under Article 3.2 hereunder.

 

1.5 Service Agreement means the Exclusive Technical Consulting and ServiceAgreement entered into by and between Beijing eLong and the Pledgee on the date of February 1, 2001 and the Supplementary Agreement of Exclusive Technical Consulting and Service Agreement entered into on the date of August 22, 2003, and the furtheramendment and restatement of the aforesaid agreement on the date of July 20, 2004. 

 

1.6 Event of Default means any event in accordance with Article 7.1 hereunder. 

 

1.7 Notice of Default means the notice of default issued by the Pledgee in accordance with this Agreement. 

 

2. *Assignments And Pledge*

 

2.1 The Pledgor agrees to pledge all its equity interest in Beijing eLong to the Pledgee. Pledge under this Agreement refers to the rights owned by the Pledgee who shallbe entitled to have priority in receiving payment by the evaluation or proceeds from the auction or sale of the equity interests pledged by the Pledgor to the Pledgee. 

 

3. *Rate Of Pledge And Term Of Pledge*

 

3.1 *The rate of Pledge*

 

3.1.1 The rate of pledge shall be 100% 

 

3.2 *The term of Pledge*

 

3.2.1 This Agreement shall take effect as of the date when the equity interests under this Agreement are recorded in the Register of Shareholder of Beijing eLong andregistered with the competent Administration for Industry and Commerce. The term of the Pledge is the same with the term of Service Agreement. 

 

3.2.2 During the period, the Pledgor shall be entitled to dispose the Pledge in accordance with this Agreement in the event that Beijing eLong fails to pay exclusivetechnical Consulting and service fee or software license in accordance with the Service Agreement or fails to perform the obligations of “Trademark License Agreement”, “Domain Name License Agreement”, “Business OperationAgreement “or “Cooperation Agreement”. 

 

4. *Physical Possession Of Documents/Pledge Register*

 

4.1During the term of Pledge under this Agreement, the Pledgor shall deliver the physical possession of the certificate of distribution and the name list of shareholder of Beijing eLong to the Pledgee within one week as of the date of conclusion ofthis Agreement. 

 

4.2 The Pledgee shall be entitled to collect the dividendsfrom the equity interests. 

 

4.3 The pledge in this Agreement shall be record inthe shareholder’s register. 

 

5. *Representation of the Pledgor*

 

5.1 The Pledgor is the legal owner of the equity interests. 

 

5.2 The Pledgor does not pledge or encumber the equity interests to any other person exceptfor the Pledgee. 

 

6. *Warranties and Guarantee of the Pledgor*

 

6.1 During the effective term of this Agreement, the Pledgor covenants to the Pledgeethat the Pledgor shall: 

 

6.1.1 Not transfer or assign the equity interests,create or permit to create any pledges which may have an adverse effect on the rights or benefits of the Pledgee without prior written consent from the Pledgee; unless the two parties have agreed otherwise. 

 

6.1.2 Comply with and implement laws and regulations with respect to the pledge of rights,present to the Pledgee the notices, orders or suggestions with respect to the Pledge issued or made by the competent authority within five days upon receiving such notices, orders or suggestions and comply with such notices, orders or suggestions,or object to the foregoing matters at the reasonable request of the Pledgee or with consent from the Pledgee. 

 

6.1.3 Timely notify the Pledgee of any events or any received notices which may affect the Pledgor’s equity interest or any part of its right, and any events or any received notices which may change thePledgor’s any covenant and obligation under this Agreement or which may affect the Pledgor’s performance of its obligations under this Agreement. 

 

6.2 The Pledgor agrees that the Pledgee’s right of exercising the Pledge obtained from this Agreement shall not be suspended or hampered through legal procedure bythe Pledgor or any successors of the Pledgor or any person authorized by the Pledgor or any other person. 

 

6.3 The Pledgor warrants to the Pledgee that in order to protect or perfect the security over the payment of the technical consulting and service fees under the Service Agreement, the 

 

Pledgor shall execute in good faith and cause other parties who have interests in the pledge to execute all the title certificates, agreements, and orperform and cause other parties who have interests to take action as required by the Pledgee and make access to exercise the rights and authorization vested in the Pledgee under this Agreement. 

 

6.4 Execute all the documents with respect to the changes of certificate of equity interestswith the Pledgee or the person (natural person or legal entity) designed by the Pledgee, and provides all the notices, orders and decisions regarded as necessary by the Pledgee with the Pledgee within the reasonable time. 

 

6.5 The Pledgor warrants to the Pledgee that the Pledgor will comply with and perform all theguarantees, covenants, agreements, representations and conditions for the benefits of the Pledgee. The Pledgor shall compensate all the losses suffered by the Pledgee for the reasons that the Pledgor does not perform or fully perform theirguarantees, covenants, agreements, representations and conditions. 

 

7. *Event Of Default*

 

7.1 The followingevents shall be regarded as the event of default: 

 

7.1.1 Beijing eLong fails tomake full payment of the exclusive technical consulting and service fees and software license fees as scheduled under the Service Agreement; or fails to perform the obligation of “Trademark License Agreement”, “Domain Name LicenseAgreement”, “Business Operation Agreement” or “Cooperation Agreement”. 

 

7.1.2 The Pledgor makes any material misleading or fraudulent representations or warranties under Article 5 herein, and/or the Pledgor is in violation of any warranties under Article 6 herein; 

 

7.1.3 The Pledgor violates the covenants under any of the Articles herein; 

 

7.1.4 The Pledgor waives the pledged equity interests or transfers or assigns the pledgedequity interests without prior written consent from the Pledgee; 

 

7.1.5 ThePledgor’s any external loan, security, compensation, covenants or any other compensation liabilities (1) are required to be repaid or performed prior to the scheduled date; or (2) are due but can not be repaid or performed as scheduled andthereby cause the Pledgee to deem that the Pledgor’s capacity to perform the obligations herein is affected; 

 

7.1.6 This Agreement is illegal for the reason of the promulgation of the related laws or the Pledgor’s incapability of continuing to perform the obligations herein;

 

7.1.7 Any approval, permits, licenses or authorization from the competentauthority of the government needed to perform this Agreement or validate this Agreement are withdrawn, suspended, invalidated or materially amended; 

 

7.1.8 The property of the Pledgor is adversely changed and cause the Pledgee deem that the capability of the Pledgor to perform the obligations herein is affected;

 

7.1.9 The successors or assignees of the Beijing eLong are only entitled toperform a portion of or refuse to perform the payment liability under the Service Agreement; 

 

7.1.10 The default resulted in the action or inaction of Pledgor’s breaching the other Articles of this Agreement; 

 

7.1.11 Other circumstances whereby the Pledgee is incapable of exercising the right to dispose the Pledge in accordancewith the related laws. 

 

7.2 The Pledgor shall immediately give a written noticeto the Pledgee if the Pledgor is aware of or find that any event under Article 7.1 herein or any events that may result in the foregoing events have happened or is going on. 

 

7.3 Unless the event of default under Article 7.1 herein has been solved to the Pledgee’s satisfaction, the Pledgee, at any time whenthe event of default happens or thereafter, may give a written notice of default to the Pledgor and require the Pledgor to immediately make full payment of the overdue service fees and software license under the Service Agreement and other payablesor perform the obligation of “Trademark License Agreement”, “Domain Name License Agreement”, “Business Operation Agreement” or “Cooperation Agreement”, or dispose the Pledge in accordance with Article 8herein. 

 

8. *Exercise Of The Right Of ThePledge*

 

8.1 In case Beijing eLong does not fully repay the aforesaidtechnical service fees and software license fees of the Service Agreement, and does fully perform the obligations of “Trademark License Agreement”, “Domain Name License Agreement”, “Business Operation Agreement” or“Cooperation Agreement”, the Pledgor shall not transfer or assign the pledge without prior written approval from the Pledgee prior to the full repayment of the consulting and service fee under the Service Agreement. Unless the two partieshave agreed otherwise. 

 

8.2 Subject to Article 7, the Pledgee may exercise theright to dispose the Pledge when the Pledgee gives a notice of default. 

 

8.3The Pledgee is entitled to have priority in receiving payment by the evaluation or proceeds from the auction or sale of whole or part of the equity interests pledged herein in accordance with legal procedure until the outstanding consulting andservice fees and all other payables under the Service Agreement are repaid. 

 

8.4 The Pledgor shall not hinder the Pledgee from disposing the Pledge in accordance with this Agreement and shall give necessary assistance so that the Pledgee could realize his Pledge. 

 

9. *Transfers Or Assignment*

 

9.1 The Pledgor shall not donate or transfer his rights and obligations herein without priorwritten consent from the Pledgee. 

 

9.2 This Agreement shall be binding upon thePledgor and his successors and be effective to the Pledgee and his each successor and assignee. 

 

9.3 The Pledgee may transfer or assign his all or any rights and obligations under the Service Agreement to any individual (natural person or legal entity) at any time. In this case, the assignee shall enjoy andundertake the same rights and obligations herein of the Pledgee as if the assignee is a party hereto. When the Pledgee transfers or assigns the rights and obligations under the Service Agreement, at the request of the Pledgee, the Pledgor shallexecute the relevant agreements and/or documents with respect to such transfer or assignment. 

 

9.4 After the Pledgee’s change resulting from the transfer or assignment, the new parties to the pledge shall enter into a pledge agreement. 

 

10. *Termination*

 

10.1 This Agreement shall not be terminated until the following conditions are met: 

 

(1) All the consulting and service fees and software license fees under the Service Agreementare paid off (2) Beijing eLong has fully perform all the obligations under “Trademark License Agreement”, “Domain Name License Agreement”, “Business Operation Agreement” and “Cooperation Agreement”, or theaforesaid obligations are terminated. And (3) Beijing eLong does not perform the obligations under “Trademark License Agreement”, “Domain Name License Agreement”, “Business Operation Agreement” and “CooperationAgreement”. In case the agreement is terminated, the Pledgee shall cancel or terminate this Agreement within reasonable time as soon as practicable. 

 

11. *Formalities Fees And Other Charges*

 

11.1 The Pledgor shall be responsible for all the fees and actual expenditures in relation to this Agreement including but not limited to legal fees, cost ofproduction, stamp tax and any other taxes and charges. If the Pledgee pays the relevant taxes in accordance with the laws, the Pledgor shall fully indemnify such taxes paid by the Pledgee. 

 

11.2 The Pledgor shall be responsible for all the fees (including but not limited to anytaxes, formalities fees, management fees, litigation fees, attorney’s fees, and various insurance premiums in connection with disposition of Pledge) incurred by the Pledgor for the reason that the Pledgor fails to pay any payable taxes, fees orcharges in accordance with this Agreement; or the Pledgee has recourse to any foregoing taxes, charges or fees by any means for other reasons. 

 

12. *Force Majeure*

 

12.1 *Force majeure*, which includes acts of governments, acts of nature, fire, explosion, typhoon, flood, earthquake, tide, lightning, war, means any unforeseenevents beyond the prevented party’s reasonable control and cannot be prevented with reasonable care. However, any shortage of credit, capital or finance shall not be regarded as an event beyond a Party’s reasonable control. The Pledgeaffected by *force majeure*shall notify the other party of exemption promptly; 

 

12.2 In the event that the affected party is delayed in or prevented from performing its obligations under this Agreement by *force majeure*, only within the scope of such delay or prevention, the affected party will not be responsiblefor any damage by reason of such a failure or delay of performance. The affected party shall take appropriate means to minimize or remove the effects of *force majeure*and attempt to resume performance of the obligations delayed or preventedby the event of *force majeure*. After the event of *force**majeure*is removed, both parties agree to resume the performance of this Agreement with their best efforts. 

 

13. *Dispute Resolution*

 

13.1 This Agreement shall be governed by and construed in accordance with the PRC law. 

 

13.2 Any dispute, tangle or claim arising from the agreement or relating with the agreement(including any issue relating with the existence, validity or termination of the agreement) 

 

should be submitted to China International Economic and Trade Arbitration Commission (the “Arbitration Commission”). Arbitration Commission shallconduct arbitration in accordance with the current effective rules of arbitration application. The arbitration award shall be final and binding upon both parties. 

 

13.3 Arbitration place shall be in Beijing, PRC. 

 

13.4 Arbitration language shall be English. 

 

13.5 The court of arbitration shall compose of three arbitrators. Both parties should respectively appoint an arbitrator, the chairman of the court of arbitration shallbe appointed by both parties through consultation. In case both parties do not coincide in opinion of the person selected for the chief arbitrator within twenty days from the date of their respectively appoint an arbitrator, the director ofArbitration Commission shall have right to appoint the chief arbitrator. The chief arbitrator shall not be Chinese citizen or American citizen. 

 

13.6 both parties agreed that the court of arbitration established according to the regulation shall have right to provide actually performed relief on the propersituation according with PRC Law (including but not being limited to Law of Agreement of the People’s Republic of China). For the avoidance of doubt, both parties further that any court having jurisdiction (including PRC Court) shall carry outthe arbitral award of actual performance issued by the court of arbitration. 

 

13.7 Both parties agreed to conduct arbitration in accordance with this regulation, and irrepealably abstain the right to appeal, reexamine or prosecute to national court or other administration of justice in any form, and the preconditionshall be that the aforesaid waiver is effective. However the waiver of both parties does not include any post-arbitration injunction, post-arbitration distress warrant or other command issued by any court having jurisdiction (including PRC Court)for terminating the arbitration procedure or carrying out any arbitral award. 

 

14. *Notice*

 

14.1 Any notice, which isgiven by the parties hereto for the purpose of performing the rights, duties and obligations hereunder, shall be in writing form (including fax and telex). Where such notice is delivered personally, the time of notice is the time when such noticeactually reaches the addressee; where such notice is transmitted by telex or facsimile, the notice time is the time when such notice is transmitted. If such notice does not reach the addressee on business date or reaches the addressee after thebusiness time, the next business day following such day is the date of notice. The delivery place is the address first written above of the parties hereto or the address advised in writing including facsimile and telex from time to time. 

 

15. *Appendices*

 

15.1 The appendices to this Agreement are entire and integral part of this Agreement.

 

16. *Effectiveness*

 

16.1 This agreement and any amendments, modification, supplements, additions or changeshereto shall be in writing and are founded upon being executed and sealed by the parties hereto, and become effective as of the date of the Pledgor having completed change in equity holding transferred from Qu Zhi to the Pledgor. 

 

16.2 The original of this Agreement is written in duplicate in Chinese, one copy held by each party and both originalshaving the same legal effect. 

 

(No text hereunder) 

 

In witness whereof the parties hereto have caused this Agreement to be duly executed on theirbehalf by a duly authorized representative as of the Effective Date first written above. 

 

**The Pledgee:**eLongNet Information Technology (Beijing) Co., Ltd. 

**Signature of Authorized Representative:** TangYue 

**Official Seal:**
 
/s/

 

**The Pledgor:**Raymond Huang

**Signature:**
 
/s/

 

**Appendices**

 

1. Register of Shareholders of Beijing eLong Information Technology Co., Ltd; 

 

2. Certificate of Capital Contribution of Beijing eLong Information Technology Co., Ltd;

 

3. Services Agreement; 

 

4. Trademark License Agreement; 

 

5. Domain Name License Agreement; 

 

6. Business Operation Agreement; and 

 

7. Cooperation Agreement.