Document:

gds_Ex4_43

		

			Exhibit 4.43

		

		

			 

		

		
			Shanghai Xinwan Enterprise Management Co., Ltd.
		

		
			 
		

		
			Beijing Wanguo Chang'an Science & Technology Co., Ltd.
		

		
			 
		

		
			and
		

		
			 
		

		
			GDS (Shanghai) Investment Co., Ltd.
		

		
			 
		

		

		
			 
		

		
			with regards to
		

		
			Beijing Wanguo Chang’an Science & Technology Co., Ltd.
		

		
			 
		

		
			Exclusive Call Option Agreement
		

		
			 
		

		

		
			 
		

		
			Date: December 16, 2019
		

		
			 
		

		
			 
		

		
			

		 

		

			 

		

		

		
			 
		

		
			Exclusive Call Option Agreement
		

		
			 
		

		
			This Exclusive Call Option Agreement (the “Agreement”) is entered into by and between the following parties on December 16, 2019 in Shanghai, China:
		

		
			 
		

		
			1.     Shanghai Xinwan Enterprise Management Co., Ltd. (hereinafter referred to as the “Existing Shareholder”)
		

		
			Registered Address: Room 207, 2rd Floor, Building 2, 255 Meisheng Road, China (Shanghai) Pilot Free Trade Zone, China
		

		
			 
		

		
			2.     GDS (Shanghai) Investment Co., Ltd. (hereinafter referred to as “WFOE”)
		

		
			Registered Address: Room 1046A, 55 Xili Road, China (Shanghai) Pilot Free Trade Zone, China
		

		
			 
		

		
			3.     Beijing Wanguo Chang’an Science & Technology Co., Ltd. (hereinafter referred to as “GDS Beijing”)
		

		
			Registered Address: Room 211, Building 36, Courtyard 1, North Disheng Street, Beijing Economic and Technological Development Zone
		

		
			 
		

		
			(In this Agreement, the above parties are referred to individually as a “Party” and collectively as the “Parties”.)
		

		
			 
		

		
			Whereas:
		

		
			 
		

		
			(1)   The Existing Shareholder is the registered shareholder of GDS Beijing and in legal possession of 100% if the equity shares of GDS Beijing on the execution date of this Agreement (basic information of GDS Beijing on the execution date of this Agreement is as shown in Exhibit 1 to this Agreement).
		

		
			 
		

		
			(2)   The Existing Shareholder intends to transfer all of their equity shares in GDS Beijing to WFOE and/or any other entity or individual designated by WFOE without violating PRC law, and WFOE intends to accept the transfer.
		

		
			 
		

		
			(3)   In order to carry out the aforesaid transfer of shares, the Existing Shareholder hereby irrevocably grants to WFOE an exclusive call option right to purchase shares (the “Stock Option”). To the extent permitted by PRC Law and in accordance with the Stock Option, the Existing Shareholder shall transfer the Option Stock (defined below) to WFOE and/or any other entity of individual designated by WFOE according to the requirements of WFOE.
		

		
			 
		

		
			(4)   GDS Beijing agrees that the Existing Shareholder awards the Stock Option to WFOE in accordance with this Agreement.
		

		
			 
		

		
			Now, therefore, the Parties agree as follows through negotiation:
		

		
			 
		

		
			
		

		
			

		 

		

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			Article 1 Terms and Definitions
		

		
			 
		

		
			1.1     Unless otherwise specified or in cases where the context demands a different interpretation, the terms used in this Agreement shall have the following meanings:
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						“Option Stock”

					
					
						means, as to the Existing Shareholder, the 100% equity interests held by the Existing Shareholder in the Registered Capital of GDS Beijing (as defined below).

				
	
					
						 

					
					
						 

				
	
					
						“Registered Capital of GDS Beijing”

					
					
						means, on the execution date of this Agreement, the registered capital of GDS Beijing of RMB 300,100,000 Yuan, including any enlarged registered capital after future capital increase.

				
	
					
						 

					
					
						 

				
	
					
						“Existing Business of GDS Beijing”

					
					
						means, on the execution date of this Agreement, the business scope of GDS Beijing as specified in its business license.

				
	
					
						 

					
					
						 

				
	
					
						“Transfer of Shares”

					
					
						means, when WFOE exercises its Stock Option (the “Exercise”), the shares of GDS Beijing of which it has the right to request the Existing Shareholder to transfer to WFOE or its designated entity or individual pursuant to Article 3.2 of this Agreement. The amount may be part or all of the Option Stock. The specific amount shall be decided by WFOE at is absolute discretion according to PRC Law and its business considerations at the time.

				
	
					
						 

					
					
						 

				
	
					
						“Conversion Price”

					
					
						means, during each Exercise in accordance with Article 4 of this Agreement, the total consideration paid to the Existing Shareholder for the acquisition of the Shares Transferred by WFOE or its designated entity or natural person.

				
	
					
						 

					
					
						 

				
	
					
						“Certificates”

					
					
						means any approval, license, filing, and registration GDS Beijing shall hold for legal and effective management of the Existing Business and all other business.

				
	
					
						 

					
					
						 

				
	
					
						“Assets of GDS Beijing”

					
					
						means all tangible and intangible assets owned or entitled to use by GDS Beijing during the term of this Agreement, including but not limited to any real estate, movable property, trademark, copyright, patent, proprietary technology, domain name, software use right and other intellectual properties.

				
	
					
						 

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

		

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						“Principal Agreements” 

					
					
						means the agreements to which GDS Beijing is a party and has material effect on the business and assets of GDS Beijing, including but not limited to the Exclusive Technical License and Service Agreement between GDS Beijing and WFOE and other agreements regarding the business of GDS Beijing.

				
	
					
						 

					
					
						 

				
	
					
						“PRC”: 

					
					
						means, for the purpose of this Agreement, the People’s Republic of China, excluding Hong Kong, Macau and Taiwan.

				
	
					
						 

					
					
						 

				
	
					
						“PRC Laws and Regulations” 

					
					
						refers to the laws, administrative regulations, administrative rules, local regulations, judicial interpretations and other binding legal documents of the People's Republic of China that are in force at the time.

				
	
					
						 

					
					
						 

				
	
					
						“Upper Limit” 

					
					
						has the same meaning as stipulated in Article 3.2 of this Agreement.

				
	
					
						 

					
					
						 

				
	
					
						“Exercise Notice” 

					
					
						has the same meaning as stipulated in Article 3.5 of this Agreement.

				
	
					
						 

					
					
						 

				
	
					
						“Power of Attorney” 

					
					
						has the same meaning as stipulated in Article 3.7 of this Agreement.

				
	
					
						 

					
					
						 

				
	
					
						“Confidential Information” 

					
					
						has the same meaning as stipulated in Article 8.1 of this Agreement.

				
	
					
						 

					
					
						 

				
	
					
						“Breaching Party” 

					
					
						has the same meaning as stipulated in Article 11.1 of this Agreement.

				
	
					
						 

					
					
						 

				
	
					
						“Breach of Contract”

					
					
						has the same meaning as stipulated in Article 11.1 of this Agreement.

				
	
					
						 

					
					
						 

				
	
					
						“Said Party’s Rights” 

					
					
						has the same meaning as stipulated in Article 12.5 of this Agreement.

				

		
			 
		

		
			1.2     Any citation of PRC Laws and Regulations under this Agreement shall be deemed to:
		

		
			 
		

		
			(1)        simultaneously include the citation of the content of the amendments, adjustments, complements and revisions of PRC Laws and Regulations regardless of whether the effective date is before or after the conclusion of this Agreement; and
		

		
			 
		

		
			(2)        simultaneously include the citation of other decisions, notices and rules
		

		
			
		

		
			

		 

		

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			made or taking effect pursuant to PRC Laws and Regulations.
		

		
			 
		

		
			1.3     Unless otherwise stipulated in the context of this Agreement, Article, Section, Paragraph and Subparagraph referred to in this Agreement mean relevant content in this Agreement.
		

		
			 
		

		
			Article 2 Award of Stock Option
		

		
			 
		

		
			2.1     The Existing Shareholder hereby irrevocably grants, without any additional term, exclusive to WFOE a Stock Option, pursuant to which WFOE shall have the right to require the Existing Shareholder to transfer the Option Stock to WFOE or its designated entity or individual, to the extent permitted by PRC Laws and Regulations, in accordance with the procedures specified in this Agreement. WFOE also agrees to accept such Stock Option.
		

		
			 
		

		
			2.2     GDS Beijing hereby agrees that the Existing Shareholder awards WFOE such Stock Option in accordance with the above Article 2.1 and other provisions in this Agreement.
		

		
			 
		

		
			Article 3 Exercise Procedures
		

		
			 
		

		
			3.1     WFOE shall have the right to decide at its absolute discretion the specific time, procedure and number of exercise to the extent permitted by PRC Laws and Regulations.
		

		
			 
		

		
			3.2     If, at the time of the Exercise, PRC Laws and Regulations allow WFOE and/or its designated entity or individual to hold all shares of GDS Beijing, WFOE shall be entitled to exercise all the Stock Option; if at the time of the Exercise, PRC Laws and Regulations only allow WFOE and/or its designated entity or individual to hold part of the shares of GDS Beijing, WFOE shall be entitled to decide the amount of the Transferred Shares within the upper limit of the proportion of shares regulated by PRC Laws and Regulations (the “Upper Limit”), and such amount of the Transferred Shares shall be received by WFOE and/or its designated entity or individual from the Existing Shareholder. Under the latter situation, WFOE is entitled to exercise the Stock Option in installments in accordance with the gradual relaxation of the Upper Limit allowed by PRC Laws and Regulations until all the Stock Option has been exercised.
		

		
			 
		

		
			3.3     During each Exercise, WFOE shall have the right to decide at its discretion the number of shares to be transferred to itself or its designated entity or individual, the Existing Shareholder shall transfer the Transferred Shares to WFOE and/or its designated entity or individual respectively as required by WFOE. WFOE and/or its designated entity or individual shall pay Conversion Price to the Existing Shareholder for the Transferred Shares upon each Exercise.
		

		
			 
		

		
			
		

		
			

		 

		

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			3.4     During each Exercise, WFOE may purchase the Transferred Shares by itself or may designate any third party to purchase all or part of the Transferred Shares.
		

		
			 
		

		
			3.5     WFOE shall, upon its decision to exercise the Stock Option, issue a written notice to exercise the Stock Option (the “Exercise Notice”, refer to Exhibit 2 for its format) to the Existing Shareholder. The Existing Shareholder shall, within thirty (30) days upon the receipt of the Exercise Notice, make a one-off transfer of the Transferred Shares in whole to WFOE and/or its designated entity or individual in accordance with the Exercise Notice and the provisions of Article 3.3 of this Agreement.
		

		
			 
		

		
			3.6     The Existing Shareholder hereby represents and warrants that once WFOE dispatches an Exercise Notice:
		

		
			 
		

		
			(1)         It shall promptly pass a shareholder resolution and take all necessary actions to agree to the transfer of the Transferred Shares in whole to WFOE and/or its designated entity or individual at the Conversion Price;
		

		
			 
		

		
			(2)         It shall promptly execute an equity transfer agreement with WFOE and/or its designated entity or individual to transfer the Transferred Shares in whole to WFOE and/or its designated entity or individual at the Conversion Price; and
		

		
			 
		

		
			(3)         It shall provide necessary support to WFOE in accordance with WFOE's requirements and applicable laws and regulations (including provide and execute all relating legal documents, perform all government approval, registration, filing procedures and bear all the relevant obligations) to enable WFOE and/or its designated entity or individual to obtain the Transferred Shares without legal flaws.
		

		
			 
		

		
			3.7     The Existing Shareholder shall, upon the request of WFOE, execute a power of attorney (the “Power of Attorney”, refer to Exhibit 3 for its format) to authorize in writing any person designated by WFOE (the “Trustee”) to represent the Existing Shareholder to execute any and all necessary legal documents to enable WFOE and/or its designated entity or individual to obtain the Transferred Shares without legal flaws. The Power of Attorney shall be kept by WFOE upon execution, and, when necessary, WFOE may at any time require that the Existing Shareholder to execute multiple duplicates of the Power of Attorney and present them to relevant government authorities. When and only when WFOE issues a written notice to the Existing Shareholder to dismiss and replace the Trustee shall the Existing Shareholder immediately revoke the entrustment of the existing Trustee under this Agreement and entrust another Trustee designated by WFOE at the time to execute any and all necessary legal documents on behalf of the Existing Shareholder in accordance with the stipulations of this Agreement; the new Power of Attorney shall replace the original Power of Attorney once made. Under no other circumstances shall the Existing
		

		
			
		

		
			

		 

		

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			Shareholder revoke the Power of Attorney to the Trustee.
		

		
			 
		

		
			Article 4 Conversion Price
		

		
			 
		

		
			During each Exercise, WFOE or its designated entity or individual shall pay to the Existing Shareholder RMB one (1) yuan only or any price agreed upon by the Parities in writing. If at that time of exercise any regulatory PRC laws and regulations has mandatory provisions on the Conversion Price, WFOE or its designated entity or individual shall be entitled to exercise the option at the regulated minimum price in accordance with the applicable PRC laws and regulations.
		

		
			 
		

		
			Article 5 Representations and Warranties
		

		
			 
		

		
			5.1     The Existing Shareholder hereby makes the following representations and warranties, which shall remain at all times in full force as in the occasion when they are made at the time of the transfer of the Option Stock.
		

		
			 
		

		
			5.1.1     The Existing Shareholder is a limited liability company duly incorporated and validly existing under PRC Laws as an independent judicial person and with complete, independent legal status and legal competence to sign, deliver and perform this Agreement, as an independent subject of proceedings.
		

		
			 
		

		
			5.1.2     GDS Beijing is a limited liability company duly incorporated and validly existing under the PRC Laws as an independent judicial person and with complete, independent legal status and legal competence to execute, deliver and perform this Agreement, as an independent subject of proceedings.
		

		
			 
		

		
			5.1.3     The Existing Shareholder has full capacity and power to execute and deliver this Agreement and all other documents to be executed by them for the transaction referred to in this Agreement and has full capacity and power to complete the transaction referred to in this Agreement.
		

		
			 
		

		
			5.1.4     This Agreement is legally and appropriately executed and delivered by the Existing Shareholder. This Agreement constitutes a legal and binding obligation on it, enforceable against it in accordance with the terms of the Agreement.
		

		
			 
		

		
			5.1.5     At the date of this Agreement, the Existing Shareholder is the registered legal owner of the Option Stock. Except for the rights provided under this Agreement, the Equity Pledge Agreement entered into by and between the Existing Shareholder and WFOE, and the Shareholder Voting Proxy Agreement entered into by and between the Existing Shareholder, WFOE, and GDS Beijing, the Option Stock is free and clear of any liens, pledge,
		

		
			
		

		
			

		 

		

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			claims, other security interests and other third-party rights; WFOE and/or its designated entity or individual shall be entitled to the ownership of the Transferred Shares free of any liens, pledge, claims, other security interests and other third-party rights after the Exercise in accordance with this Agreement.
		

		
			 
		

		
			5.2     GDS Beijing hereby represents and warrants that:
		

		
			 
		

		
			5.2.1     GDS Beijing is a limited liability company duly incorporated and validly existing under PRC Laws and Regulations as an independent judicial person. GDS Beijing has full and independent legal status and legal capacity to execute, deliver and perform this Agreement, and with capacity as an independent subject of proceedings.
		

		
			 
		

		
			5.2.2     It is vested with full internal power and authority to execute and deliver this Agreement and all other documents to be executed by it in relation to the transaction referred to in this Agreement and to complete the transaction referred to in this Agreement.
		

		
			 
		

		
			5.2.3     This Agreement is legally and appropriately executed and delivered by GDS Beijing. This Agreement constitutes a legal and binding obligation on GDS Beijing.
		

		
			 
		

		
			5.2.4     The Existing Shareholder is the registered legal owners of Option Stock on the date of this Agreement. WFOE and/or its designated entity or individual shall be entitled to the ownership of the Transferred Stock free of any liens, pledge, claims, other security interests and other third-party rights after the Exercise in accordance with this Agreement.
		

		
			 
		

		
			5.2.5     On the date of this Agreement, GDS Beijing has all the Certificates necessary for its operation. GDS Beijing has sufficient rights and qualifications to operate business within the territory of China. GDS Beijing has been operating its business lawfully since its foundation and there is no breach or potential breach of the regulations or requirements of Industrial and Commercial Bureau, Tax Bureau, Telecommunication Administration, Administration of Quality Supervision, Inspection and Quarantine, Labor and Social Security Bureau or other government authorities. GDS Beijing is not involved in any breach of contract dispute.
		

		
			 
		

		
			Article 6 Undertakings of the Existing Shareholder
		

		
			 
		

		
			The Existing Shareholder hereby undertakes that it will:
		

		
			 
		

		
			6.1     Within the term of this Agreement, take all necessary actions to ensure that GDS Beijing obtain all Certificates for its business operation in a timely manner and
		

		
			
		

		
			

		 

		

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			maintain the continue effectiveness of the certificates at all times;
		

		
			 
		

		
			6.2     During the term of the Agreement, without prior written consent by WFOE:
		

		
			 
		

		
			6.2.1     The Existing Shareholder shall not transfer or dispose of in any other means any Option Stock or create any security interests or third party rights on the Option Stock;
		

		
			 
		

		
			6.2.2     The Existing Shareholder shall not increase or decrease Registered Capital of GDS Beijing;
		

		
			 
		

		
			6.2.3     The Existing Shareholder shall not dispose of or cause the management of GDS Beijing to dispose of any of the Assets of GDS Beijing (except in the ordinary course of business);
		

		
			 
		

		
			6.2.4     The Existing Shareholder shall not terminate or cause the management of GDS Beijing to terminate the Principal Agreements or enter into any contract in conflict with the Principal Agreements;
		

		
			 
		

		
			6.2.5     The Existing Shareholder shall not appoint or dismiss any of the directors, supervisors or other management personnel of GDS Beijing that shall be appointed and dismissed by the Existing Shareholder;
		

		
			 
		

		
			6.2.6     The Existing Shareholder shall not declare distribution or actual payout of any distributable profits, interests, or dividends;
		

		
			 
		

		
			6.2.7     The Existing Shareholder shall ensure the continuous existence of GDS Beijing and that GDS Beijing will not be terminated, liquidated or dissolved;
		

		
			 
		

		
			6.2.8     The Existing Shareholder shall not modify the articles of association of GDS Beijing; and
		

		
			 
		

		
			6.2.9     The Existing Shareholder shall ensure that GDS Beijing do not lend or borrow any loan, or provide guarantee or provide securities in other means, or assume any material liabilities for those other than arising from the ordinary business operations;
		

		
			 
		

		
			6.3     During the term of this Agreement, use its best endeavor to promote GDS Beijing’s business and to ensure the legal operation of GDS Beijing, without any action or nonfeasance that might damages to the assets of GDS Beijing, its reputation, or the effectiveness of its Certificates.
		

		
			 
		

		
			Article 7 Undertakings of GDS Beijing
		

		
			 
		

		
			7.1     If any consent, permit, waiver or authorization by any third party, or any approval,
		

		
			
		

		
			

		 

		

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			permit or exemption by any government authority, or any registration or filing formalities (if required by law) with any government authority is required to be obtained or handled with respect to the execution and performance of this Agreement and the grant of the Stock Option under this Agreement, GDS Beijing shall endeavor to assist in satisfying the above conditions.
		

		
			 
		

		
			7.2     Without WFOE’s prior written consent, GDS Beijing shall not assist or permit the Existing Shareholder to transfer or otherwise dispose of any Option Stock or create any security interests or other third party rights on any Option Stock.
		

		
			 
		

		
			7.3     GDS Beijing shall not do or permit to be done any behavior or action that may adversely affect the interests of WFOE under this Agreement.
		

		
			 
		

		
			Article 8 Confidentiality
		

		
			 
		

		
			8.1     Regardless of whether this Agreement is terminated or not, the Existing Shareholder shall be under the obligation to keep strictly confidential the following information (collectively the "Confidential Information"):
		

		
			 
		

		
			(i)          The execution, performance and content of this Agreement;
		

		
			 
		

		
			(ii)         WFOE's business secrets, proprietary information and client information of which the Existing Shareholder may become aware or received in connection with the execution and performance of this Agreement; and
		

		
			 
		

		
			(iii)         Business secrets, proprietary information and client information of GDS Beijing, of which the Existing Shareholder may become aware or received as the shareholder of GDS Beijing.
		

		
			 
		

		
			The Existing Shareholder may use the Confidential Information solely in connection with the performance of its obligations hereunder. Without WFOE’s written consent, the Existing Shareholder shall not disclose such Confidential Information to any third party, otherwise, the Existing Shareholder shall be held liable for its breaching this Agreement and shall indemnify WFOE against all losses.
		

		
			 
		

		
			8.2     Following the termination of this Agreement, the Existing Shareholder shall return, destroy or dispose of properly with other means all documents, data or software and shall stop using such Confidential Information upon the request of WFOE.
		

		
			 
		

		
			8.3     Notwithstanding any other provisions herein, the effect of this Article shall survive the suspension or termination of this Agreement.
		

		
			 
		

		
			
		

		
			

		 

		

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			Article 9 Term of Agreement
		

		
			 
		

		
			This Agreement comes into effect as of its execution date, and shall terminate until all the Option Stock under this Agreement has been transferred to WFOE or its designated entity or individual.
		

		
			 
		

		
			Article 10 Notification
		

		
			 
		

		
			10.1   All notices to be made by the Parties in connection with the performance of the rights and obligations under this Agreement shall be in writing and be delivered in person, by registered mail, postage prepaid mail, recognized express mail, or facsimile to the party concerned.
		

		
			 
		

		
			10.2   If any of such notices or other correspondences is transmitted by facsimile or telex , it shall be deemed delivered immediately upon transmission; if delivered in person, it shall be deemed delivered at the time of delivery;; if sent by post, it shall be deemed delivered five (5) days after dispatch. .
		

		
			 
		

		
			Article 11 Breach of Agreement
		

		
			 
		

		
			11.1   The Parties agree and acknowledge that, any material breach of any provision of this Agreement, or substantial non-performance of this Agreement by any party (the “Breaching Party”) constitutes a breach of the Agreement (the “Breach”). Any of the non-breaching parties (the “Non-breaching Parties”) shall be entitled to require the Breaching Party to correct or take remedial measures within a reasonable time. Where the Breaching Party does not take any remedy measures in a reasonable time or within 10 days after the written notice from the Non-breaching Parties to request remedial measures, if the breaching party is the Existing Shareholder or GDS Beijing, then the Non-breaching Party, at its discretion, shall have the right to: (1) terminate this Agreement and require full compensation from the Breaching Party; or (2) request for compulsory performance of the obligations of the Breaching Party under this Agreement and request for full compensation from the Breaching Party under this Agreement ; if the Breaching Party is WFOE, then the Non-breaching Parties shall have the right to request for compulsory performance of the obligations of the Breaching Party under this Agreement and request for full compensation from the Breaching Party under this Agreement .
		

		
			 
		

		
			11.2   The Parties agree and acknowledge that the Existing Shareholder or GDS Beijing shall under no circumstances prematurely terminate this Agreement for whatever reasons.
		

		
			 
		

		
			11.3   The rights and remedies stipulated in this Agreement are accumulative, and do not preclude other rights or remedies as prescribed by laws and regulations.
		

		
			 
		

		
			11.4   Notwithstanding any other provisions herein, the effect of this Article shall survive the suspension or termination of this Agreement.
		

		
			 
		

		
			
		

		
			

		 

		

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			Article 12 Miscellaneous
		

		
			 
		

		
			12.1   This Agreement is made in triplicate (3 copies), with each Party holding one (1) copy.
		

		
			 
		

		
			12.2   The conclusion, validity, performance, amendment, interpretation and termination of this Agreement shall be governed by PRC Laws and Regulations.
		

		
			 
		

		
			12.3   The Parties shall settle any dispute arising out of or relating to this Agreement through amicable negotiation. If any dispute cannot be resolved through negotiations within thirty (30) days, the dispute shall be referred to Shanghai International Economic and Trade Arbitration Commission for arbitration in accordance with the commission's arbitration rules. The seat of arbitration shall be Shanghai. The arbitration award shall be final and binding upon the Parties. The Existing Shareholder hereby authorizes the arbitrator the right to deliver remedies for the equity shares of GDS Beijing, issue injunctions, or arbitration award requiring the liquidation of GDS Beijing. After the arbitration award takes effect, any Party shall have the right to submit an application to a court with jurisdiction for enforcement of the arbitration award. The competent court shall have the right to grant a provisional remedy on request by the disputing party, such as a judgment or an order to seize or freeze the Breaching Party's properties or equity shares.
		

		
			 
		

		
			12.4   Any right, power or remedy granted to a Party by any provision of this Agreement does not preclude the Party from any right, power or remedy granted by law or other provisions of this Agreement; any party’s exercise of its right, power and remedy by a Party shall not preclude the Party from exercising its other rights, powers and remedies.
		

		
			 
		

		
			12.5   No failure or delay by any Party in exercising any right, power or remedy (the “Said Party’s Rights”) provided by law or under this Agreement shall constitute a wave of the Said Party’s Rights and no single or partial waiver of any Said Party’s Rights shall preclude the exercise of any Said Party’s Rights in other means or the exercise of any other Said Party’s Rights.
		

		
			 
		

		
			12.6   The headings hereof have been inserted for convenience of reference only, under no circumstances shall such headings be construed to affect the meaning, construction or effect of this Agreement.
		

		
			 
		

		
			12.7   The provisions of this Agreement are severable and independent to one another. If at any time one or several articles herein shall be deemed invalid, illegal or unenforceable, the validity, legality or enforceability of other provisions herein shall not be affected thereby.
		

		
			 
		

		
			
		

		
			

		 

		

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			12.8      This Agreement upon execution shall supersede any other legal documents on the same subject matter entered into by the Parties hereto. Any amendment or supplement of this Agreement shall be made in writing and duly executed by all parties herein before taking effect.
		

		
			 
		

		
			12.9      The Existing Shareholder shall not assign any rights and/or obligations hereunder to any third party without the prior written consent of the WFOE, while WFOE may assign any rights and/or obligations hereunder to its designated third party upon notifying the Existing Shareholder and GDS Beijing.
		

		
			 
		

		
			12.10    This Agreement is binding on the lawful successors and assignees of the Parties.
		

		
			 
		

		
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			[Signature page]
		

		
			 
		

		
			In witness whereof, this Exclusive Call Option Agreement is executed by and between the following parties on the date and at the place first above written.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Shanghai Xinwan Enterprise Management Co., Ltd.

					
					
						 

				
	
					
						(Seal)

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Chen Yilin

					
					
						 

				
	
					
						Name:

					
					
						Chen Yilin

					
					
						 

				
	
					
						Title:

					
					
						Legal Representative

					
					
						 

				

		
			 
		

		
			 
		

		
			GDS (Shanghai) Investment Co., Ltd.
		

		
			(Seal)
		

		
			 
		

			
					
						Signature:

					
					
						/s/ Huang Wei

					
					
						 

				
	
					
						Name:

					
					
						Huang Wei

					
					
						 

				
	
					
						Title:

					
					
						Legal Representative

					
					
						 

				

		
			 
		

		
			 
		

		
			Beijing Wanguo Chang’an Science & Technology Co., Ltd.
		

		
			(Seal)
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Chen Yilin

					
					
						 

				
	
					
						Name:

					
					
						Chen Yilin

					
					
						 

				
	
					
						Title:

					
					
						Legal Representative

					
					
						 

				

		
			 
		

		
			 
		

		
			

		 

		

			Signature page of Exclusive Call Option Agreement

		

		

		
			 
		

		
			Exhibit 1:
		

		
			 
		

		
			 
		

		
			Basic information of GDS Beijing
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Company Name:

					
					
						Beijing Wanguo Chang’an Science & Technology Co., Ltd.

				
	
					
						 

					
					
						 

				
	
					
						Registered Address:

					
					
						Room 211, Building 36, Courtyard 1, North Disheng Street, Beijing Economic and Technological Development Zone

				
	
					
						 

					
					
						 

				
	
					
						Registered Capital:

					
					
						RMB 300,100,000

				
	
					
						 

					
					
						 

				
	
					
						Legal Representative:

					
					
						Chen Yilin

				

		
			 
		

		
			Share Structure:
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Name or Shareholder

					
					
						Share of Registered
Capital

					
					
						Proportion of
Capital
Contribution

				
	
					
						Shanghai Xinwan Enterprise
Management Co., Ltd.

					
					
						RMB 300,100,000

					
					
						100%

				

		
			 
		

		
			 
		

		
			Fiscal Year: January 1 to December 31
		

		
			 
		

		
			 
		

		
			

		 

		

			Exhibit 1 of Exclusive Call Option Agreement

		

		

		
			 
		

		
			Exhibit 2:
		

		
			 
		

		
			 
		

		
			Format of Exercise Notice
		

		
			 
		

		
			 
		

		
			To:
		

		
			 
		

		
			Whereas, our company has entered into an Exclusive Call Option Agreement ("Call Option Agreement") with you and Beijing Wanguo Chang'an Science & Technology Co., Ltd. (“GDS Beijing”) on [Insert the date], 2019, which designated that under circumstances permitted by PRC Laws and Regulations, you shall transfer your equity interests in GDS Beijing to our company or any third party designated by our company upon our request.
		

		
			 
		

		
			Now, therefore, our company hereby issue the notice as follows:
		

		
			 
		

		
			Our company hereby request to exercise the Stock Option under the Call Option Agreement and requires you to transfer____% of the equity interests held by you in GDS Beijing (the “Assigned Shares”) to our company/[insert entity or individual’s name] designated by our company. Please immediately transfer all of the Assigned Shares to our company/[insert entity or individual’s name] pursuant to the Call Option Agreement within [insert days] days upon receipt of this notice.
		

		
			 
		

		
			 
		

		
			Sincerely,
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						GDS (Shanghai) Investment Co., Ltd.

				
	
					
						 

					
					
						(Seal)

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Legal representative:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Date

				

		
			 
		

		
			 
		

		
			

		 

		

			Exhibit 2 of Exclusive Call Option Agreement

		

		

		
			 
		

		
			Exhibit 3:
		

		
			 
		

		
			 
		

		
			Format of Power of Attorney
		

		
			 
		

		
			 
		

		
			The company, Shanghai Xinwan Enterprise Management Co., Ltd., hereby irrevocably entrusts___________[ID Card No.: ________________], as its entrusted agent, to execute the legal documents among Beijing Wanguo Chang’an Science & Technology Co., Ltd., GDS (Shanghai) Investment Co., Ltd. and the company on the transfer of equity shares of Beijing Wanguo Chang'an Science & Technology Co., Ltd.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						Signature:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Date

				

		
			 
		

		 

		

			Exhibit 3 of Exclusive Call Option Agreementgds_Ex4_44

		
			Exhibit 4.44
		

		
			 
		

		
			 
		

		

		
			 
		

		
			Loan Agreement
		

		
			 
		

		

		
			 
		

		
			between
		

		
			 
		

		
			 
		

		
			Shanghai Xinwan Enterprise Management Co., Ltd.
		

		
			 
		

		
			 
		

		
			Huang Wei
		

		
			 
		

		
			 
		

		
			Huang Qiuping
		

		
			 
		

		
			 
		

		
			and
		

		
			 
		

		
			 
		

		
			GDS (Shanghai) Investment Co., Ltd.
		

		
			 
		

		
			 
		

		
			December 16, 2019
		

		
			 
		

		
			 
		

		
			

		 

		

			 

		

		

		
			Loan Agreement
		

		
			 
		

		
			This Loan Agreement (the “Agreement”) is entered into on December 16, 2019 in Shanghai, China by and between the following parties:
		

		
			 
		

		
			1.   Shanghai Xinwan Enterprise Management Co., Ltd., a company duly incorporated under the laws of the People's Republic of China, with legal address at Room 207, 2rd Floor, Building 2, 255 Meisheng Road, China (Shanghai) Pilot Free Trade Zone, China (the “Borrower”);
		

		
			 
		

		
			2.   GDS (Shanghai) Investment Co., Ltd.,  a wholly Hong Kong owned enterprise duly incorporated under the laws of the People's Republic of China, with legal address at Room 1046A, 55 Xili Road, China (Shanghai) Pilot Free Trade Zone, China (the “Lender”);
		

		
			 
		

		
			3.   Huang Wei, a citizen of the People’s Republic of China (ID Card No.:             );
		

		
			 
		

		
			4.   Huang Qiuping, a citizen of the People’s Republic of China (ID Card No.:      )
		

		
			(Huang Wei and Huang Qiuping hereinafter are collectively referred to as the “Original Borrowers”).
		

		
			 
		

		
			(In this Agreement, the above parties are referred to individually as a “Party” and collectively as the “Parties”.)
		

		
			 
		

		
			Whereas:
		

		
			 
		

		
			1.   Beijing Wanguo Chang’an Science & Technology Co., Ltd. (“GDS Beijing”) is a limited liability company duly incorporated under PRC laws, with legal address at Room 211, Building 36, Courtyard 1, North Disheng Street, Beijing Economic and Technological Development Zone, and the registered capital of RMB three hundred million one hundred thousand (RMB 300,100,000);
		

		
			 
		

		
			2.   For the purpose of developing the business of GDS Beijing, the Original Borrowers and the Lender entered into a loan agreement on April 13, 2016 (the “Original Loan Agreement”).  According to the provisions of the Original Loan Agreement, the Lender shall provide the Original Borrowers with a loan of RMB 300,100,000 (RMB three hundred million one hundred thousand), of which RMB 300,000,000 (RMB three hundred million) shall be provided to Huang Wei, RMB 100,000 (RMB one hundred thousand) shall be provided to Huang Qiuping. As of the execution date of this Agreement, the Lender has provided Huang Wei with a loan of RMB 114,500,000 (RMB one hundred and fourteen million five hundred thousand), and has provided RMB 0 (RMB zero) to Huang Qiuping (hereinafter collectively referred to as the “Existing Debt”);
		

		
			 
		

		
			3.   Through the relevant equity transfer transaction, as of the execution date of this
		

		
			
		

		
			

		 

		

			1

		

		

		
			Agreement, the Original Borrowers have transferred all the equities of GDS Beijing to the Borrower, the Borrower is the existing shareholder of GDS Beijing, and the Parties agree to generally assign to the Borrower all the rights and obligations of the Original Borrowers under the Original Loan Agreement, including all the Existing Debt shall be assumed by the Borrower to the Lender;
		

		
			 
		

		
			4.   Now, therefore, the Parties agree as follows in order to clarify the rights and obligations of the Borrower and the Lender under the relevant arrangements for the Borrower to assume all the Existing Debt:
		

		
			 
		

		
			Article 1 Terms and Definitions
		

		
			 
		

		
			1.1  Unless otherwise specified in this Agreement or in cases where the context demands a different interpretation, the terms used in this Agreement shall have the following meanings:
		

		
			 
		

		
			“Loan” refers to the RMB loan offered by the Lender to the Borrower;
		

		
			 
		

		
			“Debt” refers to the outstanding balance under the Loan;
		

		
			 
		

		
			“Repayment Notice” has the same meaning as stipulated in Article 4.1 of this Agreement;
		

		
			 
		

		
			“Repayment Application” has the same meaning as stipulated in Article 4.2 of this Agreement;
		

		
			 
		

		
			“Effective Date” refers to the date first above written on which the Parties executed this Agreement;
		

		
			 
		

		
			“PRC”, for the purpose of this Agreement, refers to the People’s Republic of China, excluding Hong Kong, Macau and Taiwan.
		

		
			 
		

		
			1.2  The terms referred to herein shall have the following meanings:
		

		
			 
		

		
			“Article”  shall, unless otherwise stipulated in this Agreement, be construed as an article of this Agreement;
		

		
			 
		

		
			“Taxes and Fees”  shall be construed so as to include any tax, fee, tariff or other charges of similar nature (including, without limitation, any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same);
		

		
			 
		

		
			The “Lender” and the “Borrower” shall be construed so as to include the successors and assignees as permitted by the Parties based on their respective interests.
		

		
			 
		

		
			1.3  Unless otherwise provided, any reference herein to this Agreement or any other
		

		
			
		

		
			

		 

		

			2

		

		

		
			agreements or documents shall be construed as the referral to the amendments, variations, substitutions or supplements as are already made or may be from time to time made to this Agreement or such other agreements or documents, as the case may be.
		

		
			 
		

		
			1.4  The headings hereof have been inserted for convenience of reference only.
		

		
			 
		

		
			1.5  Unless the context otherwise requires, the words importing the plural shall include the singular and vice versa.
		

		
			 
		

		
			Article 2 Amount and Interest Rate of the Loan
		

		
			 
		

		
			2.1  The Parties hereby acknowledge that, upon the execution of this Agreement, the Lender shall provide the principal of a loan with the amount of RMB three hundred million and one hundred thousand only (RMB 300,100,000) to the Borrower, including the amount has been advanced to the Original Borrowers of RMB one hundred and fourteen million five hundred thousand (RMB 114,500,000).
		

		
			 
		

		
			The Parties agree that the Existing Debt (RMB one hundred and fourteen million five hundred thousand (RMB 114,500,000)) advanced by the Lender to the Original Borrowers shall be transferred to the Borrower, the Borrower shall assume the Existing Debt to the Lender as a debtor, and the Existing Debt is part of the Debt hereunder.
		

		
			 
		

		
			2.2  The interest rate of the Loan hereunder is nil, i.e., no interest is accrued thereupon.
		

		
			 
		

		
			Article 3  Purpose
		

		
			 
		

		
			The Borrower shall use the loan under this Agreement only for business expansion of GDS Beijing.
		

		
			 
		

		
			Article 4 Repayment
		

		
			 
		

		
			4.1  The Lender may, at its own absolute discretion, at any time request that the Debt be discharged, in whole or in part, by the Borrower, upon a 30-day prior repayment notice to the Borrower (the “Repayment Notice”). The Lender may request that the Borrower repay the Debt in whole or in part in the following methods pursuant to the preceding provision:
		

		
			 
		

		
			a)    Repay the Debt in full by purchasing or designating a third party to purchase the corresponding equity interest held by the Borrower in GDS Beijing at such a price equivalent to the amount of the Debt requested to be discharged, provided that the ratio of the equity interest to be so purchased to the equity interest held by
		

		
			
		

		
			

		 

		

			3

		

		

		
			the Borrower in GDS Beijing shall be equivalent to the ratio of the Debt required to be discharged to the principal amount of the Loan borrowed by the Borrower hereunder.; or
		

		
			 
		

		
			b)    in other ways determined by resolutions passed by the board of directors of the Lender in accordance with its articles of association and the stipulations of applicable laws and regulations.
		

		
			 
		

		
			4.2  The Borrower may at any time request to repay the Debt, in whole or in part, by servicing a 30-day prior Repayment Application (the “Repayment Application”) to the Lender. In such case, the Borrower may discharge its Debt by transferring to the Lender the equity interest in GDS Beijing in the amount equal to the Debt amount to be discharged by the Borrower, or by the methods recognized by the Lender pursuant to the aforesaid Article 4.1, in whole or in part. In the former situation, the Lender shall have the right to purchase or to designate a third party to purchase part of the equity interest held by the Borrower in GDS Beijing at such a price equivalent to the amount of the Debt to be discharged by the Borrower, provided that the ratio of the equity interest to be so purchased to the equity interest held by the Borrower in GDS Beijing shall be equivalent to that of the Debt required to be discharged to the principal amount of the Loan borrowed by the Borrower hereunder.
		

		
			 
		

		
			4.3  Upon the expiration of the 30-day period set forth in the Repayment Notice or the Repayment Application, as the case may be, the Borrower being requested or applied to repay the Debt shall discharge the Debt in accordance with the repayment method specified in the Repayment Notice, or by any other methods determined by a resolution passed by the board of directors of the Lender in accordance with its articles of association and the stipulations of applicable laws and regulations, or by any other methods stipulated in this Agreement.
		

		
			 
		

		
			4.4  When the Borrower discharges the Debt pursuant to the above provisions of this Article 4, the Parties shall execute relevant written documents to acknowledge that the Debt has been absolutely discharged in accordance with the methods agreed upon in this Agreement.
		

		
			 
		

		
			Article 5 Taxes and Fees
		

		
			 
		

		
			All taxes and fees in connection with the Loan shall be borne by the Lender.
		

		
			 
		

		
			Article 6  Confidentiality
		

		
			 
		

		
			6.1  Regardless of the termination of this Agreement, the Borrower shall keep in confidential (i) the execution, performance and content of this Agreement, and (ii) Lender’s business secrets, proprietary information and client information (the “Confidential Information”) learnt or received by the Borrower in connection with the
		

		
			
		

		
			

		 

		

			4

		

		

		
			execution and performance of this Agreement. The Borrower may use the Confidential Information solely for the performance of its obligations hereunder. Without the Lender’s written consent, the Borrower shall not disclose such Confidential Information to any third party, otherwise, such Borrower shall be held liable for the breaching of this Agreement and shall indemnify the Lender against all losses.
		

		
			 
		

		
			6.2  Notwithstanding any other provisions herein, the effectiveness of this Article 6 shall survive the suspension or termination of this Agreement.
		

		
			 
		

		
			Article 7 Notification
		

		
			 
		

		
			7.1  Any communications made as required by or pursuant to this Agreement including notices, demands, requests and other correspondences shall be delivered to the recipient in writing.
		

		
			 
		

		
			7.2  If any of such notices or other correspondences is transmitted by facsimile or telex, it shall be deemed delivered immediately upon transmission; if delivered in person, it shall be deemed delivered at the time of delivery; if sent by post, it shall be deemed delivered five (5) workdays after dispatch.
		

		
			 
		

		
			Article 8 Breach of Agreement
		

		
			 
		

		
			8.1  The Borrower hereby undertakes that it will indemnify and hold harmless the Lender against any action, charge, claim, cost, harm, demand, fee, liability, loss and procedure suffered or incurred to Lender from the breach by the Borrowers of any of its obligations hereunder.
		

		
			 
		

		
			8.2  Notwithstanding any other provisions herein, the effectiveness of this Article shall survive the suspension or termination of this Agreement.
		

		
			 
		

		
			Article 9  Miscellaneous
		

		
			 
		

		
			9.1  The Parties hereby acknowledge that, upon the execution date of this agreement, the Original Borrowers will no longer assume the Existing Debt from the Lender, and the Original Loan Agreement shall be terminated at the same time.  Neither the Original Borrowers nor the Lender shall assume any responsibility or obligation in connection with the Original Loan Agreement
		

		
			 
		

		
			9.2  This Agreement is made in quadruplicate (4 copies), with each Party holding one (1) copy.
		

		
			 
		

		
			9.3  The conclusion, validity, performance, amendment, interpretation and termination of
		

		
			
		

		
			

		 

		

			5

		

		

		
			this Agreement shall be governed by the PRC laws.
		

		
			 
		

		
			9.4  The Parties shall settle any dispute arising out of or relating to this Agreement through amicable negotiation. If any dispute cannot be resolved through negotiations within thirty (30) days, the dispute shall be referred to Shanghai International Economic and Trade Arbitration Commission for arbitration in accordance with the commission's arbitration rules. The seat of arbitration shall be Shanghai. The arbitration award shall be final and binding upon the Parties. After arbitration award takes effect, any party shall have the right to apply for the enforcement of the arbitration award to a court with jurisdiction. The competent court shall have right to grant a provisional remedy on request by the disputing party, such as a judgment or an order to seize or freeze the breaching party's properties or equity shares.
		

		
			 
		

		
			9.5  Any right, power or remedy granted to a Party by any provision of this Agreement shall not exclude the Party from any right, power or remedy granted by other provisions of this Agreement; and any exercise of any right, power or remedy by a Party shall not preclude the Party from exercising other rights, powers or remedies.
		

		
			 
		

		
			9.6  No failure or delay by any Party in exercising any right, power or remedy (“Such Rights”) provided by law or under this Agreement shall constitute a waiver of Such Rights and no single or partial waiver of any Such Rights shall preclude the exercise of any Such Rights in other means or the exercise of any other Such Rights.
		

		
			 
		

		
			9.7  The headings hereof have been inserted for convenience of reference only, under no circumstances shall such headings be construed to affect the meaning, construction or effectiveness of this Agreement.
		

		
			 
		

		
			9.8  The provisions of this Agreement are severable and independent to one another. If at any time one or several articles herein shall be deemed invalid, illegal or unenforceable, the validity, legality or enforceability of other provisions herein shall not be affected thereby.
		

		
			 
		

		
			9.9  Any amendment and supplement of this Agreement shall be made in writing and duly executed by the Parties herein before taking effect.
		

		
			 
		

		
			9.10 The Borrower shall not assign its rights and/or obligations hereunder to any third party without the prior written consent of the Lender, while the Lender shall have the rights to assign its rights and/or obligations hereunder to its designated third party upon notifying the other Parties.
		

		
			 
		

		
			9.11 This Agreement is binding on the lawful successors and assignees of the Parties.
		

		
			 
		

		
			[Remainder of this page intentionally left blank]
		

		
			 
		

		
			
		

		
			

		 

		

			6

		

		

		
			[Signature Page]
		

		
			 
		

		
			In witness whereof, this Loan Agreement is executed by and between the following parties on the date and at the place first above written.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Borrower

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Shanghai Xinwan Enterprise Management Co., Ltd.,

					
					
						 

				
	
					
						(Seal)

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Chen Yilin

					
					
						 

				
	
					
						Name:

					
					
						Chen Yilin

					
					
						 

				
	
					
						Title:

					
					
						Legal Representative

					
					
						 

				

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Lender

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						GDS (Shanghai) Investment Co., Ltd.

					
					
						 

				
	
					
						(Seal)

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Huang Wei

					
					
						 

				
	
					
						Name:

					
					
						Huang Wei

					
					
						 

				
	
					
						Title:

					
					
						Legal Representative

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

		

			7

		

		

		
			 
		

		
			[Signature Page]
		

		
			 
		

		
			In witness whereof, this Loan Agreement is executed by and between the following parties on the date and at the place first above written.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Original Borrowers

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Huang Wei

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Huang Wei

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Huang Qiuping

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						/s/ Huang Qiuping

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				

		
			 
		

		 

		

			8

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