Document:

Exhibit
10.2

LOAN
AGREEMENT

 

This
Loan Agreement (this “Agreement”) is entered in Beijing, the People’s Republic of China (“PRC”,
excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan, for purposes of this
agreement) as of August 18 of 2017.

 

by and between the following parties:

 

		(1)	LENDER:
Shanghai Renren Automobile Technology
Company Limited

Registered
Address: Room 917-918,No 328,Jiajian Road, Jiading District, Shanghai, China

Legal
Representative: Liu Jian

 

and

 

		(2)	BORROWER:
Yang Jing

PRC
Identification Card No: 532721197005100025

Address:
Room 202, Unit 1, No 275, Ninger Main Street, Simao District, Puer City, Yunnan, PRC

 

(individually,
a “Party” and collectively, the “Parties”)

 

WHEREAS:

 

Borrower
desires to borrow from the Lender, and the Lender desires to lend to the Borrower, an aggregate principal amount of Renminbi Forty-nine
million, Five hundred thousand Yuan(RMB 49,500,000), pursuant to the terms and conditions set forth herein.

 

THEREFORE,
the Parties, through friendly negotiation based on equal and mutual benefit, agree as follows:

 

		1.	Principal
                                         Amount of the Loan

 

Subject
to the terms and conditions set forth in this Agreement, Lender has agreed to lend to the Borrower, the principal amount of RMB
49,500,000 (the “Loan”). Such Loan shall be interest-free throughout the term of the Loan.

 

		2.	Loan
                                         Terms

 

		2.1	The
                                         term for such Loan will be ten (10) years, calculated from the date when the Borrower
                                         actually draws the Loan. The term under this Agreement shall be automatically extended
                                         for another ten years unless written notice to the contrary is given by the Lender three
                                         months prior to the expiration of this Agreement.

 

    1

    

    

 

		2.2	The
                                         Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the
                                         Loan in advance except with the Lender’s prior written approval or the expiration of
                                         this Agreement. The Borrower shall repay the Loan by using all the funds obtained by
                                         him from transferring all of the Borrower’s equity in Shanghai Qianxiang Changda Internet
                                         Information Technology Development Co., Ltd. (“Qianxiang Changda”), a company
                                         incorporated under the laws of the People’s Republic of China to Lender or to any
                                         other third party designated by the Lender. In case the funds received by the Borrower
                                         from transferring the aforesaid equity is subject to any tax or administrative expenses,
                                         the Borrower shall only be obliged to repay the net portion of such funds (after deducting
                                         any applicable tax and expenses) to the Lender. When all of such Borrower’s equity
                                         in Qianxiang Changda is transferred as stipulated above and if all the fund thereof is
                                         repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded
                                         as repaid.

 

		2.3	The
                                         Lender and the Borrower agree and confirm that the Borrower shall immediately repay the
                                         Loan in case any one of the following occurs:

 

		2.3.1	The
                                         Borrower dies or becomes a person with no or limited capacity for civil rights;

 

		2.3.2	The
                                         Borrower commits crime or is involved in crime;

 

		2.3.3	Any
                                         third party claims debt of the Borrower exceeding RMB 10,000,000 (RMB 10,000,000) which
                                         the Borrower is not able to repay;

 

		2.3.4	There
are no legal restrictions for foreign investors to directly

 

	 	 	invest
in the value-added telecommunication business under PRC law; or

 

		2.3.5	the
Lender issues a written notice to the Borrower for repayment of the Loan.

 

		3.	Conditions
                                         Precedent to the Disbursement of the Loan

 

		3.1	The
                                         Lender shall not be obliged to make any disbursement of the Loan unless all of the following
                                         conditions have been satisfied or waived by the Lender:

 

		3.1.1	All
                                         the representations and warranties made by the Borrower are correct, accurate, complete
                                         and not misleading.

 

    2

    

    

 

		3.1.2	The
                                         Borrower is not in breach of the covenants and undertakings made by such Borrower in
                                         Section 5 hereof.

 

		3.1.3	The
                                         Parties have executed an Equity Option Agreement (“Option Agreement”),
                                         pursuant to which the Borrower grants to the Lender or its designated person (legal or
                                         natural) an exclusive option to purchase all of the Borrower’s equity interest
                                         in Qianxiang Changda, to the extent permitted under PRC laws.

 

		3.1.4	The
                                         Parties have executed an Equity Interest Pledge Agreement (“Pledge Agreement”),
                                         pursuant to which the Borrower pledges all of his equity interest in Qianxiang Changda
                                         to the Lender, to the extent permitted under PRC laws.

 

		4.	Representations
                                         and Warranties

 

		4.1	The
                                         Borrower makes the following representations and warranties to the Lender, and confirms
                                         that the Lender executes and performs this Agreement in reliance of such representations
                                         and warranties:

 

		4.1.1	The
                                         Borrower has the full capacity and power to enter into this Agreement;

 

		4.1.2	The
                                         execution of this Agreement of the Borrower will not violate any law or binding obligations
                                         of the Borrower;

 

		4.1.3	This
                                         Agreement shall constitute a binding obligation of the Borrower, enforceable against
                                         him in accordance with its terms upon its execution;

 

		4.1.4	The
                                         Borrower neither commits criminal behaviors nor is involved in criminal activity;

 

		4.1.5	Except
                                         for the option under the Option Agreement and the pledge under the Pledge Agreement,
                                         without the prior consent of the Lender, the Borrower shall not create any pledge over
                                         part or whole of the Borrower’s right in Qianxiang Changda or any priority for any third
                                         party where the beneficiary is neither the Lender nor its subsidiaries or affiliates;

 

		4.2	The
                                         Lender makes the following representations and warranties to the Borrower:

 

		4.2.1	The
Lender is a company registered and validly existing under the laws of PRC;

 

    3

    

    

 

		4.2.2	The
                                         execution and performance of this Agreement by the Lender is in compliance with the power
                                         of the Lender. The Lender has taken proper measures and has gained authorizations and
                                         approvals from all third parties and governmental departments or agencies, to execute
                                         and perform its obligations under this Agreement in accordance with the limitations of
                                         the laws and contracts which are binding or bear influences over the Lender; and

 

		4.2.3	This
                                         Agreement shall constitute the legal, valid and binding obligations of the Lender, enforceable
                                         against the Lender in accordance with its terms upon its execution.

 

		5.	Covenants
                                         and Undertakings of Borrower

 

		5.1	The
                                         Borrower, as a shareholder of Qianxiang Changda, hereby undertakes to, and shall cause
                                         Qianxiang Changda, to observe the following terms with all efforts during the term of
                                         this Agreement:

 

		5.1.1	It
                                         shall not modify in any way its articles of association or alter its shareholding structure
                                         without the prior written consent of the Lender;

 

		5.1.2	It
                                         shall not transfer or dispose of any material asset, or create any other security interest
                                         neither for the Lender nor for its subsidiaries / affiliates over the same without the
                                         prior written consent of the Lender;

 

		5.1.3	It
                                         shall not provide any warranty or assume any debt for any third party which is beyond
                                         its normal daily business scope without the prior written consent of the Lender;

 

		5.1.4	It
                                         shall not enter into any material contracts without the prior written consent of the
                                         Lender, except those entered into in the ordinary course of business (for the purpose
                                         of this paragraph, any contract with a value exceeding RMB 100,000 shall be deemed to
                                         be a material contract);

 

		5.1.5	It
                                         shall not extend any loan or credit to any party without the prior written consent of
                                         the Lender;

 

		5.1.6	It
                                         shall not merge with or invest in any third party without the prior written consent of
                                         the Lender;

 

		5.1.7	It
                                         shall not declare in any way any bonus or dividends for its shareholders without the
                                         prior written consent of the Lender;

 

    4

    

    

 

		5.1.8	It
shall not conduct any business that is beyond the normal course of business;

 

		5.1.9	It
shall not change or dismiss an executive director or to dismiss and replace any senior management members;

 

		5.1.10	It
shall not make significant adjustment to its business operation model, marketing strategy, operation policy or client relationship;
and

 

		5.1.11	It
shall not have any of its subsidiaries do any of the foregoing.

 

		5.2	The
                                         Borrower further commits to the Lender, during the term of this Agreement, as follows:

 

		5.2.1	he
                                         shall take all the measures to guarantee and maintain his identification and status as
                                         a shareholder of Qianxiang Changda;

 

		5.2.2	he
                                         shall not transfer or dispose of any of his equity interest or other rights or powers
                                         pertinent to his equity interest in Qianxiang Changda;

 

		5.2.3	he
                                         shall procure that the shareholders’ meeting of Qianxiang Changda shall not pass any
                                         decision about its merger with or investment in any third party without the prior written
                                         consent of the Lender;

 

		5.2.4	he
                                         shall not carry out any action bearing material influences on the assets, business, obligations
                                         or liabilities of Qianxiang Changda without prior written consent of the Lender;

 

		5.2.5	he
                                         shall immediately and unconditionally transfer all or part of his equity interest in
                                         Qianxiang Changda to the Lender or any third party designated by the Lender in accordance
                                         with PRC laws and, where applicable, procure all the other shareholders of Qianxiang
                                         Changda waive any prior right over purchasing such shares, as required by the Lender;

 

		5.2.6	he
                                         shall strictly observe his commitments and guarantees under this Agreement and other
                                         related agreements.

 

		5.3	The
                                         Borrower hereby covenants and undertakes that upon the signing of this Agreement, the
                                         Borrower shall:

 

		5.3.1	pledge
                                         all equity interest in Qianxiang Changda held by the Borrower for the benefit of Lender
                                         to guarantee the due repayment of the Loan hereunder, and enter into the Pledge Agreement
                                         with Lender;

 

		5.3.2	deliver
                                         a power of attorney to appoint and authorize individuals designated by the Lender to
                                         exercise the rights and powers pertinent to the equity interest in Qianxiang Changda
                                         held by the Borrower;

 

    5

    

    

 

		5.3.3	confirm
and agree that the Lender shall have the right to acquire or to designate any third party of its choice to acquire from time to
time part or all of the equity interest of Qianxiang Changda from the Borrower at an agreed price pursuant to the Option Agreement.

 

		6.	Default

 

If
the Borrower fails to perform his repayment obligation pursuant to this Agreement, an overdue interest at the rate of 0.01% per
day upon the outstanding amount of the Loan shall be payable to the Lender.

 

		7.	Confidentiality

 

		7.1	The
                                         Parties acknowledge and confirm to take all possible measures to keep confidential all
                                         the confidential materials and information (the “Confidential Information”)
                                         they get to know by this Agreement. The Parties shall not disclose, provide or transfer
                                         such Confidential Information to any third party without the prior written consent of
                                         the other Party. In case of the termination of this Agreement, the receiving party of
                                         the Confidential Information shall return or destroy all the files, materials or software
                                         as required by the disclosing party, and delete any of the Confidential Information from
                                         any memory equipments and discontinue using such Confidential Information.

 

		7.2	The
                                         Parties agree that this Section 7 shall survive the modification and termination of this
                                         Agreement.

 

		8.	Notices

 

Unless
a written notice of change of address is issued, all correspondence relating to this Agreement shall be delivered in person, or
by registered or prepaid mail, or by recognized express services or facsimile to the addresses appointed by the other party from
time to time.

 

		9.	Governing
                                         Law and Dispute Settlement

 

		9.1	The
                                         execution, validity, performance and interpretation of this Agreement shall be governed
                                         by and construed in accordance with the laws of the PRC.

 

		9.2	The
                                         Parties shall strive to settle any dispute arising from the interpretation or performance
                                         through friendly consultation. In case no settlement can be reached through consultation,
                                         either party may submit such matter to China International Economic and Trade Arbitration
                                         Commission (“CIETAC”) Beijing headquarter for arbitration. The arbitration
                                         shall follow the then current rules of CIETAC, and the arbitration proceedings shall
                                         be conducted in Chinese and shall take place in Beijing. The arbitration award shall
                                         be final and binding upon the Parties. This article shall not be affected by the termination
                                         or elimination of this Agreement.

 

    6

    

    

 

		9.3	In
                                         case of any disputes arising out of the interpretation and performance of this Agreement
                                         or any pending arbitration of such dispute, each party shall continue to perform their
                                         obligations under this Agreement, except for the matters in dispute.

 

		10.	Force
Majeure

 

		10.1	Force
                                         Majeure refers to any accident which is beyond a Party’s control and is inevitable with
                                         the reasonable care of the other Party who shall be influenced, including but not limited
                                         to governmental activity, natural force, fire, explosion, storm, flood, earthquake, tide,
                                         lightening or war. However, the credit, capital or shortage of financing shall not be
                                         deemed as the matters beyond one Party’s reasonable control. The Party influenced by
                                         the Force Majeure and seeking for exemption hereunder shall notify the other Party as
                                         soon as possible and inform the other Party of the measures to take in order to accomplish
                                         the performance of this Agreement.

 

		10.2	In
                                         case the performance of this Agreement is delayed or cumbered by the above-referenced
                                         Force Majeure, the Party who is influenced by the Force Majeure shall not bear any liability
                                         within the scope of delay and cumbrance, and shall take all the proper measures to reduce
                                         or eliminate the influence of Force Majeure, and shall make efforts to renew the performance
                                         of its obligations hereunder which has been delayed or cumbered by the Force Majeure.
                                         Each Party shall try its best to restore the performance of this Agreement once the Force
                                         Majeure is eliminated.

 

		11.	Effective
                                         Date

 

This
Agreement shall be effective upon its being signed by the Parties hereunder. Notwithstanding the foregoing, the Lender and the
Borrower confirm that the Loan was duly and fully extended by the Lender prior to the execution of this Agreement.

 

    7

    

    

 

		12.	Miscellaneous

 

		12.1	Any
                                         modification, termination or waiver of this Agreement shall not take effect without the
                                         written consent of each party.

 

		12.2	Any
                                         appendix attached hereto shall be of the same effect as this Agreement.

 

		12.3	The
                                         Borrower shall not transfer his rights and obligations hereunder to any third party without
                                         the prior written consent of the Lender.

 

		12.4	In
case any terms and stipulations in this Agreement is regarded as illegal or cannot be performed in accordance with the applicable
law, it shall be deemed to be deleted from this Agreement and lose its effect and this Agreement shall remain its effect and be
treated as without it from the very beginning. Each Party shall replace the deleted stipulations with those lawful and effective
ones, which are acceptable to the Lender, through mutual negotiation.

 

[The
space below is intentionally left blank.]

    8

    

    

 

IN
WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed on their behalf by a duly authorized representative
as of the date first written above.

 

	LENDER:  	 
	Shanghai Renren Automobile Technology Company Limited	 
	 	 	 
	(Company Seal)	 
	 	 	 
	By:		 
	Authorized Representative: Liu Jian	 
	 	 	 
	BORROWER: Yang Jing	 
	 	 	 
	By:		 

  

[SIGNATURE
PAGE TO LOAN AGREEMENT]

 

    9

    

    

 

LOAN
AGREEMENT

 

This
Loan Agreement (this “Agreement”) is entered in Beijing, the People’s Republic of China (“PRC”,
excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan, for purposes of this
agreement) as of August 18 of 2017.

 

by
and between the following parties:

 

		(1)	LENDER:
                                         Shanghia
                                         Renren Automobile Technology Company Limited

Registered
Address: Room 917-918,No 328 Road,, Jiading District, Shanghai, China

Legal
Representative: Liu Jian

 

and

 

		(2)	BORROWER:
Jian Liu

PRC
Identification Card No: 310102197211124453

Address:
Room 1054, No 2, Lane 138, Nandan Road, Xuhui District, Shanghai, China

 

(individually,
a “Party” and collectively, the “Parties”)

 

WHEREAS:

 

Borrower
desires to borrow from the Lender, and the Lender desires to lend to the Borrower, an aggregate principal amount of Renminbi Five
Hundred thousand Yuan (RMB 500,000 ), pursuant to the terms and conditions set forth herein.

 

THEREFORE,
the Parties, through friendly negotiation based on equal and mutual benefit, agree as follows:

 

		1.	Principal
                                         Amount of the Loan

 

Subject
to the terms and conditions set forth in this Agreement, Lender has agreed to lend to the Borrower, the principal amount of RMB
500,000 (the “Loan”). Such Loan shall be interest-free throughout the term of the Loan.

 

		2.	Loan
                                         Terms

 

		2.1	The
                                         term for such Loan will be ten (10) years, calculated from the date when the Borrower
                                         actually draws the Loan. The term under this Agreement shall be automatically extended
                                         for another ten years unless written notice to the contrary is given by the Lender three
                                         months prior to the expiration of this Agreement.

 

    1

    

    

 

		2.2	The
                                         Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the
                                         Loan in advance except with the Lender’s prior written approval or the expiration of
                                         this Agreement. The Borrower shall repay the Loan by using all the funds obtained by
                                         him from transferring all of the Borrower’s equity in Shanghai Qianxiang Changda Internet
                                         Information Technology Development Co., Ltd. (“Qianxiang Changda”), a company
                                         incorporated under the laws of the People’s Republic of China to Lender or to any
                                         other third party designated by the Lender. In case the funds received by the Borrower
                                         from transferring the aforesaid equity is subject to any tax or administrative expenses,
                                         the Borrower shall only be obliged to repay the net portion of such funds (after deducting
                                         any applicable tax and expenses) to the Lender. When all of such Borrower’s equity
                                         in Qianxiang Changda is transferred as stipulated above and if all the fund thereof is
                                         repaid to the Lender by the Borrower, all the outstanding Loan hereunder shall be regarded
                                         as repaid.

 

		2.3	The
                                         Lender and the Borrower agree and confirm that the Borrower shall immediately repay the
                                         Loan in case any one of the following occurs:

 

		2.3.1	The
                                         Borrower dies or becomes a person with no or limited capacity for civil rights;

 

		2.3.2	The
                                         Borrower commits crime or is involved in crime;

 

		2.3.3	Any
                                         third party claims debt of the Borrower exceeding RMB 10,000,000 (RMB 10,000,000) which
                                         the Borrower is not able to repay;

 

		2.3.4	There
are no legal restrictions for foreign investors to directly invest
in the value-added telecommunication business under PRC law; or

 

		2.3.5	the
Lender issues a written notice to the Borrower for repayment of the Loan.

 

		3.	Conditions
                                         Precedent to the Disbursement of the Loan

 

		3.1	The
                                         Lender shall not be obliged to make any disbursement of the Loan unless all of the following
                                         conditions have been satisfied or waived by the Lender:

 

		3.1.1	All
                                         the representations and warranties made by the Borrower are correct, accurate, complete
                                         and not misleading.

 

    2

    

    

 

		3.1.2	The
                                         Borrower is not in breach of the covenants and undertakings made by such Borrower in
                                         Section 5 hereof.

 

		3.1.3	The
                                         Parties have executed an Equity Option Agreement (“Option Agreement”),
                                         pursuant to which the Borrower grants to the Lender or its designated person (legal or
                                         natural) an exclusive option to purchase all of the Borrower’s equity interest
                                         in Qianxiang Changda, to the extent permitted under PRC laws.

 

		3.1.4	The
                                         Parties have executed an Equity Interest Pledge Agreement (“Pledge Agreement”),
                                         pursuant to which the Borrower pledges all of his equity interest in Qianxiang Changda
                                         to the Lender, to the extent permitted under PRC laws.

 

		4.	Representations
                                         and Warranties

 

		4.1	The
                                         Borrower makes the following representations and warranties to the Lender, and confirms
                                         that the Lender executes and performs this Agreement in reliance of such representations
                                         and warranties:

 

		4.1.1	The
                                         Borrower has the full capacity and power to enter into this Agreement;

 

		4.1.2	The
                                         execution of this Agreement of the Borrower will not violate any law or binding obligations
                                         of the Borrower;

 

		4.1.3	This
                                         Agreement shall constitute a binding obligation of the Borrower, enforceable against
                                         him in accordance with its terms upon its execution;

 

		4.1.4	The
                                         Borrower neither commits criminal behaviors nor is involved in criminal activity;

 

		4.1.5	Except
                                         for the option under the Option Agreement and the pledge under the Pledge Agreement,
                                         without the prior consent of the Lender, the Borrower shall not create any pledge over
                                         part or whole of the Borrower’s right in Qianxiang Changda or any priority for any third
                                         party where the beneficiary is neither the Lender nor its subsidiaries or affiliates;

 

		4.2	The
                                         Lender makes the following representations and warranties to the Borrower:

 

		4.2.1	The
Lender is a company registered and validly existing under the laws of PRC;

 

    3

    

    

 

		4.2.2	The
                                         execution and performance of this Agreement by the Lender is in compliance with the power
                                         of the Lender. The Lender has taken proper measures and has gained authorizations and
                                         approvals from all third parties and governmental departments or agencies, to execute
                                         and perform its obligations under this Agreement in accordance with the limitations of
                                         the laws and contracts which are binding or bear influences over the Lender; and

 

		4.2.3	This
                                         Agreement shall constitute the legal, valid and binding obligations of the Lender, enforceable
                                         against the Lender in accordance with its terms upon its execution.

 

		5.	Covenants
                                         and Undertakings of Borrower

 

		5.1	The
                                         Borrower, as a shareholder of Qianxiang Changda, hereby undertakes to, and shall cause
                                         Qianxiang Changda, to observe the following terms with all efforts during the term of
                                         this Agreement:

 

		5.1.1	It
                                         shall not modify in any way its articles of association or alter its shareholding structure
                                         without the prior written consent of the Lender;

 

		5.1.2	It
                                         shall not transfer or dispose of any material asset, or create any other security interest
                                         neither for the Lender nor for its subsidiaries / affiliates over the same without the
                                         prior written consent of the Lender;

 

		5.1.3	It
                                         shall not provide any warranty or assume any debt for any third party which is beyond
                                         its normal daily business scope without the prior written consent of the Lender;

 

		5.1.4	It
                                         shall not enter into any material contracts without the prior written consent of the
                                         Lender, except those entered into in the ordinary course of business (for the purpose
                                         of this paragraph, any contract with a value exceeding RMB 100,000 shall be deemed to
                                         be a material contract);

 

		5.1.5	It
                                         shall not extend any loan or credit to any party without the prior written consent of
                                         the Lender;

 

		5.1.6	It
                                         shall not merge with or invest in any third party without the prior written consent of
                                         the Lender;

 

		5.1.7	It
                                         shall not declare in any way any bonus or dividends for its shareholders without the
                                         prior written consent of the Lender;

 

		5.1.8	It
shall not conduct any business that is beyond the normal course of business;

 

    4

    

    

 

		5.1.9	It
shall not change or dismiss an executive director or to dismiss and replace any senior management members;

 

		5.1.10	It
shall not make significant adjustment to its business operation model, marketing strategy, operation policy or client relationship;
and

 

		5.1.11	It
shall not have any of its subsidiaries do any of the foregoing.

 

		5.2	The
                                         Borrower further commits to the Lender, during the term of this Agreement, as follows:

 

		5.2.1	he
                                         shall take all the measures to guarantee and maintain his identification and status as
                                         a shareholder of Qianxiang Changda;

 

		5.2.2	he
                                         shall not transfer or dispose of any of his equity interest or other rights or powers
                                         pertinent to his equity interest in Qianxiang Changda;

 

		5.2.3	he
                                         shall procure that the shareholders’ meeting of Qianxiang Changda shall not pass any
                                         decision about its merger with or investment in any third party without the prior written
                                         consent of the Lender;

 

		5.2.4	he
                                         shall not carry out any action bearing material influences on the assets, business, obligations
                                         or liabilities of Qianxiang Changda without prior written consent of the Lender;

 

		5.2.5	he
                                         shall immediately and unconditionally transfer all or part of his equity interest in
                                         Qianxiang Changda to the Lender or any third party designated by the Lender in accordance
                                         with PRC laws and, where applicable, procure all the other shareholders of Qianxiang
                                         Changda waive any prior right over purchasing such shares, as required by the Lender;

 

		5.2.6	he
                                         shall strictly observe his commitments and guarantees under this Agreement and other
                                         related agreements.

 

		5.3	The
                                         Borrower hereby covenants and undertakes that upon the signing of this Agreement, the
                                         Borrower shall:

 

		5.3.1	pledge
                                         all equity interest in Qianxiang Changda held by the Borrower for the benefit of Lender
                                         to guarantee the due repayment of the Loan hereunder, and enter into the Pledge Agreement
                                         with Lender;

 

		5.3.2	deliver
                                         a power of attorney to appoint and authorize individuals designated by the Lender to
                                         exercise the rights and powers pertinent to the equity interest in Qianxiang Changda
                                         held by the Borrower;

 

    5

    

    

 

		5.3.3	confirm
and agree that the Lender shall have the right to acquire or to designate any third party of its choice to acquire from time to
time part or all of the equity interest of Qianxiang Changda from the Borrower at an agreed price pursuant to the Option Agreement.

 

		6.	Default

 

If
the Borrower fails to perform his repayment obligation pursuant to this Agreement, an overdue interest at the rate of 0.01% per
day upon the outstanding amount of the Loan shall be payable to the Lender.

 

		7.	Confidentiality

 

		7.1	The
                                         Parties acknowledge and confirm to take all possible measures to keep confidential all
                                         the confidential materials and information (the “Confidential Information”)
                                         they get to know by this Agreement. The Parties shall not disclose, provide or transfer
                                         such Confidential Information to any third party without the prior written consent of
                                         the other Party. In case of the termination of this Agreement, the receiving party of
                                         the Confidential Information shall return or destroy all the files, materials or software
                                         as required by the disclosing party, and delete any of the Confidential Information from
                                         any memory equipments and discontinue using such Confidential Information.

 

		7.2	The
                                         Parties agree that this Section 7 shall survive the modification and termination of this
                                         Agreement.

 

		8.	Notices

 

Unless
a written notice of change of address is issued, all correspondence relating to this Agreement shall be delivered in person, or
by registered or prepaid mail, or by recognized express services or facsimile to the addresses appointed by the other party from
time to time.

 

		9.	Governing
                                         Law and Dispute Settlement

 

		9.1	The
                                         execution, validity, performance and interpretation of this Agreement shall be governed
                                         by and construed in accordance with the laws of the PRC.

 

		9.2	The
                                         Parties shall strive to settle any dispute arising from the interpretation or performance
                                         through friendly consultation. In case no settlement can be reached through consultation,
                                         either party may submit such matter to China International Economic and Trade Arbitration
                                         Commission (“CIETAC”) Beijing headquarter for arbitration. The arbitration
                                         shall follow the then current rules of CIETAC, and the arbitration proceedings shall
                                         be conducted in Chinese and shall take place in Beijing. The arbitration award shall
                                         be final and binding upon the Parties. This article shall not be affected by the termination
                                         or elimination of this Agreement.

 

    6

    

    

 

		9.3	In
                                         case of any disputes arising out of the interpretation and performance of this Agreement
                                         or any pending arbitration of such dispute, each party shall continue to perform their
                                         obligations under this Agreement, except for the matters in dispute.

 

		10.	Force
Majeure

 

		10.1	Force
                                         Majeure refers to any accident which is beyond a Party’s control and is inevitable with
                                         the reasonable care of the other Party who shall be influenced, including but not limited
                                         to governmental activity, natural force, fire, explosion, storm, flood, earthquake, tide,
                                         lightening or war. However, the credit, capital or shortage of financing shall not be
                                         deemed as the matters beyond one Party’s reasonable control. The Party influenced by
                                         the Force Majeure and seeking for exemption hereunder shall notify the other Party as
                                         soon as possible and inform the other Party of the measures to take in order to accomplish
                                         the performance of this Agreement.

 

		10.2	In
                                         case the performance of this Agreement is delayed or cumbered by the above-referenced
                                         Force Majeure, the Party who is influenced by the Force Majeure shall not bear any liability
                                         within the scope of delay and cumbrance, and shall take all the proper measures to reduce
                                         or eliminate the influence of Force Majeure, and shall make efforts to renew the performance
                                         of its obligations hereunder which has been delayed or cumbered by the Force Majeure.
                                         Each Party shall try its best to restore the performance of this Agreement once the Force
                                         Majeure is eliminated.

 

		11.	Effective
                                         Date

 

This
Agreement shall be effective upon its being signed by the Parties hereunder. Notwithstanding the foregoing, the Lender and the
Borrower confirm that the Loan was duly and fully extended by the Lender prior to the execution of this Agreement.

 

    7

    

    

 

		12.	Miscellaneous

 

		12.1	Any
                                         modification, termination or waiver of this Agreement shall not take effect without the
                                         written consent of each party.

 

		12.2	Any
                                         appendix attached hereto shall be of the same effect as this Agreement.

 

		12.3	The
                                         Borrower shall not transfer his rights and obligations hereunder to any third party without
                                         the prior written consent of the Lender.

 

		12.4	In
                                         case any terms and stipulations in this Agreement is regarded as illegal or cannot be
                                         performed in accordance with the applicable law, it shall be deemed to be deleted from
                                         this Agreement and lose its effect and this Agreement shall remain its effect and be
                                         treated as without it from the very beginning. Each Party shall replace the deleted stipulations
                                         with those lawful and effective ones, which are acceptable to the Lender, through mutual
                                         negotiation.

 

[The
space below is intentionally left blank.]

 

    8

    

    

 

IN
WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed on their behalf by a duly authorized representative
as of the date first written above.

 

	LENDER: Shanghai Renren Automobile
    Technology Company Limited
	(Company Seal)
	 	 	 
	By:	 	 
	Authorized Representative: Liu Jian
	 	 	 
	BORROWER: Liu Jian
	 	 	 
	By:	 	 
	 	 	 

 

[SIGNATURE
PAGE TO LOAN AGREEMENT]

 

    9Exhibit 10.3

 

LOAN
AGREEMENT

 

This
Loan Agreement (this “Agreement”) is entered in Beijing, the People’s Republic of China (“PRC”,
excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan, for purposes of this
agreement) as of August 18 of 2017.

 

by
and between the following parties:

 

		(1)	LENDER:
                                         Shanghai
                                         Renren Automobile Technology Company Limited.

Registered
Address: Room 917-918 ,,No328 , Jiajian Road Jiading District,

Shanghai,
China 

Legal
Representative: Liu Jian

 

and

 

		(2)	BORROWER:
                                         Yi Rui

PRC
Identification Card No: 110105196905084166 

Address:
No.604 of Third Floor, No.22 of Beiwaxili, Haidian District, Beijing, China

 

(individually,
a “Party” and collectively, the “Parties”)

 

WHEREAS:

 

Borrower
desires to borrow from the Lender, and the Lender desires to lend to the Borrower, an aggregate principal amount of Renminbi Five
Hundred thousand Yuan (RMB 500,000 ), pursuant to the terms and conditions set forth herein.

 

THEREFORE,
the Parties, through friendly negotiation based on equal and mutual benefit, agree as follows:

 

		1.	Principal
                                         Amount of the Loan

 

Subject
to the terms and conditions set forth in this Agreement, Lender has agreed to lend to the Borrower, the principal amount of RMB
500,000 (the “Loan”). Such Loan shall be interest-free throughout the term of the Loan.

 

		2.	Loan
                                         Terms

 

		2.1	The
                                         term for such Loan will be ten (10) years, calculated from the date when the Borrower
                                         actually draws the Loan. The term under this Agreement shall be automatically extended
                                         for another ten years unless written notice to the contrary is given by the Lender three
                                         months prior to the expiration of this Agreement.

 

     1

     

    

 

		2.2	The
                                         Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the
                                         Loan in advance except with the Lender’s prior written approval or the expiration of
                                         this Agreement. The Borrower shall repay the Loan by using all the funds obtained by
                                         him from transferring all of the Borrower’s equity in Shanghai Renren Automobile Technology
                                         Company Limited. (“Renren Automobile”), a company incorporated under the
                                         laws of the People’s Republic of China to Lender or to any other third party designated
                                         by the Lender. In case the funds received by the Borrower from transferring the aforesaid
                                         equity is subject to any tax or administrative expenses, the Borrower shall only be obliged
                                         to repay the net portion of such funds (after deducting any applicable tax and expenses)
                                         to the Lender. When all of such Borrower’s equity in Renren Automobile is transferred
                                         as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower,
                                         all the outstanding Loan hereunder shall be regarded as repaid.

 

		2.3	The
                                         Lender and the Borrower agree and confirm that the Borrower shall immediately repay the
                                         Loan in case any one of the following occurs:

 

		2.3.1	The
                                         Borrower dies or becomes a person with no or limited capacity for civil rights;

 

		2.3.2	The
                                         Borrower commits crime or is involved in crime;

 

		2.3.3	Any
                                         third party claims debt of the Borrower exceeding RMB 10,000,000 (RMB 10,000,000) which
                                         the Borrower is not able to repay;

 

		2.3.4	There
                                         are no legal restrictions for foreign investors to directly invest in the value-added
                                         telecommunication business under PRC law; or

 

		2.3.5	the
                                         Lender issues a written notice to the Borrower for repayment of the Loan.

 

		3.	Conditions
                                         Precedent to the Disbursement of the Loan

 

		3.1	The
                                         Lender shall not be obliged to make any disbursement of the Loan unless all of the following
                                         conditions have been satisfied or waived by the Lender:

 

		3.1.1	All
                                         the representations and warranties made by the Borrower are correct, accurate, complete
                                         and not misleading.

 

     2

     

    

 

		3.1.2	The
                                         Borrower is not in breach of the covenants and undertakings made by such Borrower in
                                         Section 5 hereof.

 

		3.1.3	The
                                         Parties have executed an Equity Option Agreement (“Option Agreement”),
                                         pursuant to which the Borrower grants to the Lender or its designated person (legal or
                                         natural) an exclusive option to purchase all of the Borrower’s equity interest
                                         in Renren Automobile, to the extent permitted under PRC laws.

 

		3.1.4	The
                                         Parties have executed an Equity Interest Pledge Agreement (“Pledge Agreement”),
                                         pursuant to which the Borrower pledges all of his equity interest in Renren Automobile
                                         to the Lender, to the extent permitted under PRC laws.

 

		4.	Representations
                                         and Warranties

 

		4.1	The
                                         Borrower makes the following representations and warranties to the Lender, and confirms
                                         that the Lender executes and performs this Agreement in reliance of such representations
                                         and warranties:

 

		4.1.1	The
                                         Borrower has the full capacity and power to enter into this Agreement;

 

		4.1.2	The
                                         execution of this Agreement of the Borrower will not violate any law or binding obligations
                                         of the Borrower;

 

		4.1.3	This
                                         Agreement shall constitute a binding obligation of the Borrower, enforceable against
                                         him in accordance with its terms upon its execution;

 

		4.1.4	The
                                         Borrower neither commits criminal behaviors nor is involved in criminal activity;

 

		4.1.5	Except
                                         for the option under the Option Agreement and the pledge under the Pledge Agreement,
                                         without the prior consent of the Lender, the Borrower shall not create any pledge over
                                         part or whole of the Borrower’s right in Renren Automobile or any priority for any third
                                         party where the beneficiary is neither the Lender nor its subsidiaries or affiliates;

 

		4.2	The
                                         Lender makes the following representations and warranties to the Borrower:

 

		4.2.1	The
                                         Lender is a company registered and validly existing under the laws of PRC;

 

     3

     

    

 

		4.2.2	The
                                         execution and performance of this Agreement by the Lender is in compliance with the power
                                         of the Lender. The Lender has taken proper measures and has gained authorizations and
                                         approvals from all third parties and governmental departments or agencies, to execute
                                         and perform its obligations under this Agreement in accordance with the limitations of
                                         the laws and contracts which are binding or bear influences over the Lender; and

 

		4.2.3	This
                                         Agreement shall constitute the legal, valid and binding obligations of the Lender, enforceable
                                         against the Lender in accordance with its terms upon its execution.

 

		5.	Covenants
                                         and Undertakings of Borrower

 

		5.1	The
                                         Borrower, as a shareholder of Renren Automobile, hereby undertakes to, and shall cause
                                         Renren Automobile, to observe the following terms with all efforts during the term of
                                         this Agreement:

 

		5.1.1	It
                                         shall not modify in any way its articles of association or alter its shareholding structure
                                         without the prior written consent of the Lender;

 

		5.1.2	It
                                         shall not transfer or dispose of any material asset, or create any other security interest
                                         neither for the Lender nor for its subsidiaries / affiliates over the same without the
                                         prior written consent of the Lender;

 

		5.1.3	It
                                         shall not provide any warranty or assume any debt for any third party which is beyond
                                         its normal daily business scope without the prior written consent of the Lender;

 

		5.1.4	It
                                         shall not enter into any material contracts without the prior written consent of the
                                         Lender, except those entered into in the ordinary course of business (for the purpose
                                         of this paragraph, any contract with a value exceeding RMB 100,000 shall be deemed to
                                         be a material contract);

 

		5.1.5	It
                                         shall not extend any loan or credit to any party without the prior written consent of
                                         the Lender;

 

		5.1.6	It
                                         shall not merge with or invest in any third party without the prior written consent of
                                         the Lender;

 

		5.1.7	It
                                         shall not declare in any way any bonus or dividends for its shareholders without the
                                         prior written consent of the Lender;

 

		5.1.8	It
                                         shall not conduct any business that is beyond the normal course of business;

 

     4

     

    

 

		5.1.9	It
                                         shall not change or dismiss an executive director or to dismiss and replace any senior
                                         management members;

 

		5.1.10	It
                                         shall not make significant adjustment to its business operation model, marketing strategy,
                                         operation policy or client relationship; and

 

		5.1.11	It
                                         shall not have any of its subsidiaries do any of the foregoing.

 

		5.2	The
                                         Borrower further commits to the Lender, during the term of this Agreement, as follows:

 

		5.2.1	he
                                         shall take all the measures to guarantee and maintain his identification and status as
                                         a shareholder of Renren Automobile;

 

		5.2.2	he
                                         shall not transfer or dispose of any of his equity interest or other rights or powers
                                         pertinent to his equity interest in Renren Automobile;

 

		5.2.3	he
                                         shall procure that the shareholders’ meeting of Renren Automobile shall not pass any
                                         decision about its merger with or investment in any third party without the prior written
                                         consent of the Lender;

 

		5.2.4	he
                                         shall not carry out any action bearing material influences on the assets, business, obligations
                                         or liabilities of Renren Automobile without prior written consent of the Lender;

 

		5.2.5	he
                                         shall immediately and unconditionally transfer all or part of his equity interest in
                                         Renren Automobile to the Lender or any third party designated by the Lender in accordance
                                         with PRC laws and, where applicable, procure all the other shareholders of Renren Automobile
                                         waive any prior right over purchasing such shares, as required by the Lender;

 

		5.2.6	he
                                         shall strictly observe his commitments and guarantees under this Agreement and other
                                         related agreements.

 

		5.3	The
                                         Borrower hereby covenants and undertakes that upon the signing of this Agreement, the
                                         Borrower shall:

 

		5.3.1	pledge
                                         all equity interest in Renren Automobile held by the Borrower for the benefit of Lender
                                         to guarantee the due repayment of the Loan hereunder, and enter into the Pledge Agreement
                                         with Lender;

 

		5.3.2	deliver
                                         a power of attorney to appoint and authorize individuals designated by the Lender to
                                         exercise the rights and powers pertinent to the equity interest in Renren Automobile
                                         held by the Borrower;

 

     5

     

    

 

		5.3.3	confirm
                                         and agree that the Lender shall have the right to acquire or to designate any third party
                                         of its choice to acquire from time to time part or all of the equity interest of Renren
                                         Automobile from the Borrower at an agreed price pursuant to the Option Agreement.

 

		6.	Default

 

If
the Borrower fails to perform his repayment obligation pursuant to this Agreement, an overdue interest at the rate of 0.01% per
day upon the outstanding amount of the Loan shall be payable to the Lender.

 

		7.	Confidentiality

 

		7.1	The
                                         Parties acknowledge and confirm to take all possible measures to keep confidential all
                                         the confidential materials and information (the “Confidential Information”)
                                         they get to know by this Agreement. The Parties shall not disclose, provide or transfer
                                         such Confidential Information to any third party without the prior written consent of
                                         the other Party. In case of the termination of this Agreement, the receiving party of
                                         the Confidential Information shall return or destroy all the files, materials or software
                                         as required by the disclosing party, and delete any of the Confidential Information from
                                         any memory equipments and discontinue using such Confidential Information.

  

		7.2	The
                                         Parties agree that this Section 7 shall survive the modification and termination of this
                                         Agreement.

 

		8.	Notices

 

Unless
a written notice of change of address is issued, all correspondence relating to this Agreement shall be delivered in person, or
by registered or prepaid mail, or by recognized express services or facsimile to the addresses appointed by the other party from
time to time.

 

		9.	Governing
                                         Law and Dispute Settlement

 

		9.1	The
                                         execution, validity, performance and interpretation of this Agreement shall be governed
                                         by and construed in accordance with the laws of the PRC.

 

		9.2	The
                                         Parties shall strive to settle any dispute arising from the interpretation or performance
                                         through friendly consultation. In case no settlement can be reached through consultation,
                                         either party may submit such matter to China International Economic and Trade Arbitration
                                         Commission (“CIETAC”) Beijing headquarter for arbitration. The arbitration
                                         shall follow the then current rules of CIETAC, and the arbitration proceedings shall
                                         be conducted in Chinese and shall take place in Beijing. The arbitration award shall
                                         be final and binding upon the Parties. This article shall not be affected by the termination
                                         or elimination of this Agreement.

 

     6

     

    

 

		9.3	In
                                         case of any disputes arising out of the interpretation and performance of this Agreement
                                         or any pending arbitration of such dispute, each party shall continue to perform their
                                         obligations under this Agreement, except for the matters in dispute.

 

		10.	Force
                                         Majeure

 

		10.1	Force
                                         Majeure refers to any accident which is beyond a Party’s control and is inevitable with
                                         the reasonable care of the other Party who shall be influenced, including but not limited
                                         to governmental activity, natural force, fire, explosion, storm, flood, earthquake, tide,
                                         lightening or war. However, the credit, capital or shortage of financing shall not be
                                         deemed as the matters beyond one Party’s reasonable control. The Party influenced by
                                         the Force Majeure and seeking for exemption hereunder shall notify the other Party as
                                         soon as possible and inform the other Party of the measures to take in order to accomplish
                                         the performance of this Agreement.

 

		10.2	In
                                         case the performance of this Agreement is delayed or cumbered by the above-referenced
                                         Force Majeure, the Party who is influenced by the Force Majeure shall not bear any liability
                                         within the scope of delay and cumbrance, and shall take all the proper measures to reduce
                                         or eliminate the influence of Force Majeure, and shall make efforts to renew the performance
                                         of its obligations hereunder which has been delayed or cumbered by the Force Majeure.
                                         Each Party shall try its best to restore the performance of this Agreement once the Force
                                         Majeure is eliminated.

 

		11.	Effective
                                         Date

 

This
Agreement shall be effective upon its being signed by the Parties hereunder. Notwithstanding the foregoing, the Lender and the
Borrower confirm that the Loan was duly and fully extended by the Lender prior to the execution of this Agreement.

 

		12.	Miscellaneous

 

		12.1	Any
                                         modification, termination or waiver of this Agreement shall not take effect without the
                                         written consent of each party.

 

		12.2	Any
                                         appendix attached hereto shall be of the same effect as this Agreement.

 

     7

     

    

 

		12.3	The
                                         Borrower shall not transfer his rights and obligations hereunder to any third party without
                                         the prior written consent of the Lender.

 

		12.4	In
                                         case any terms and stipulations in this Agreement is regarded as illegal or cannot be
                                         performed in accordance with the applicable law, it shall be deemed to be deleted from
                                         this Agreement and lose its effect and this Agreement shall remain its effect and be
                                         treated as without it from the very beginning. Each Party shall replace the deleted stipulations
                                         with those lawful and effective ones, which are acceptable to the Lender, through mutual
                                         negotiation.

 

[The
space below is intentionally left blank.]

 

     8

     

    

 

IN
WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed on their behalf by a duly authorized representative
as of the date first written above.

 

LENDER:
Shanghai Renren Automobile Technology Company Limited. 

(Company
Seal)

 

	By:	 	 
	Authorized Representative: Liu Jian	 
	 	 	 
	BORROWER: Yi Rui	 
	 	 	 
	By:	 	 

 

[SIGNATURE
PAGE TO LOAN AGREEMENT]

 

     9

     

    

 

LOAN
AGREEMENT

 

This
Loan Agreement (this “Agreement”) is entered in Beijing, the People’s Republic of China (“PRC”,
excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan, for purposes of this
agreement) as of August 18 of 2017.

 

by
and between the following parties:

 

		(1)	LENDER:
                                         Shanghai
                                         Renren Automobile Technology Company Limited.

Registered
Address: Room 917-918 , ,No328 , Jiajian Road Jiading District,

Shanghai,
China 

Legal
Representative: Liu Jian 

 

and

 

		(2)	BORROWER:
Ren Jintao

PRC
Identification Card No: 110102197805152331 

Address:
No.222 of Third Floor, No.33 of Beiwaxili, Haidian District, Beijing,

China

 

(individually,
a “Party” and collectively, the “Parties”)

 

WHEREAS:

 

Borrower
desires to borrow from the Lender, and the Lender desires to lend to the Borrower, an aggregate principal amount of Renminbi Forty-nine
million, Five Hundred thousand Yun(RMB 49,500,000), pursuant to the terms and conditions set forth herein.

 

THEREFORE,
the Parties, through friendly negotiation based on equal and mutual benefit, agree as follows:

 

		1.	Principal
                                         Amount of the Loan

 

Subject
to the terms and conditions set forth in this Agreement, Lender has agreed to lend to the Borrower, the principal amount of RMB
49,500,000 (the “Loan”). Such Loan shall be interest-free throughout the term of the Loan.

 

		2.	Loan
                                         Terms

 

		2.1	The
                                         term for such Loan will be ten (10) years, calculated from the date when the Borrower
                                         actually draws the Loan. The term under this Agreement shall be automatically extended
                                         for another ten years unless written notice to the contrary is given by the Lender three
                                         months prior to the expiration of this Agreement.

 

     1

     

    

 

		2.2	The
                                         Lender and the Borrower jointly agree and confirm that the Borrower shall not repay the
                                         Loan in advance except with the Lender’s prior written approval or the expiration of
                                         this Agreement. The Borrower shall repay the Loan by using all the funds obtained by
                                         him from transferring all of the Borrower’s equity in Shanghai Renren Automobile Technology
                                         Company Limited (“Renren Automobile”), a company incorporated under the laws
                                         of the People’s Republic of China to Lender or to any other third party designated
                                         by the Lender. In case the funds received by the Borrower from transferring the aforesaid
                                         equity is subject to any tax or administrative expenses, the Borrower shall only be obliged
                                         to repay the net portion of such funds (after deducting any applicable tax and expenses)
                                         to the Lender. When all of such Borrower’s equity in Renren Automobile is transferred
                                         as stipulated above and if all the fund thereof is repaid to the Lender by the Borrower,
                                         all the outstanding Loan hereunder shall be regarded as repaid.

 

		2.3	The
                                         Lender and the Borrower agree and confirm that the Borrower shall immediately repay the
                                         Loan in case any one of the following occurs:

 

		2.3.1	The
                                         Borrower dies or becomes a person with no or limited capacity for civil rights;

 

		2.3.2	The
                                         Borrower commits crime or is involved in crime;

 

		2.3.3	Any
                                         third party claims debt of the Borrower exceeding RMB 10,000,000 (RMB 10,000,000) which
                                         the Borrower is not able to repay;

 

		2.3.4	There
are no legal restrictions for foreign investors to directly invest in the value-added telecommunication business under PRC
law; or

 

		2.3.5	the
Lender issues a written notice to the Borrower for repayment of the Loan.

 

		3.	Conditions
                                         Precedent to the Disbursement of the Loan

 

		3.1	The
                                         Lender shall not be obliged to make any disbursement of the Loan unless all of the following
                                         conditions have been satisfied or waived by the Lender:

  

		3.1.1	All
                                         the representations and warranties made by the Borrower are correct, accurate, complete
                                         and not misleading.

 

     2

     

    

 

		3.1.2	The
                                         Borrower is not in breach of the covenants and undertakings made by such Borrower in
                                         Section 5 hereof.

 

		3.1.3	The
                                         Parties have executed an Equity Option Agreement (“Option Agreement”),
                                         pursuant to which the Borrower grants to the Lender or its designated person (legal or
                                         natural) an exclusive option to purchase all of the Borrower’s equity interest
                                         in Renren Automobile, to the extent permitted under PRC laws.

 

		3.1.4	The
                                         Parties have executed an Equity Interest Pledge Agreement (“Pledge Agreement”),
                                         pursuant to which the Borrower pledges all of his equity interest in Renren Automobile
                                         to the Lender, to the extent permitted under PRC laws.

 

		4.	Representations
                                         and Warranties

 

		4.1	The
                                         Borrower makes the following representations and warranties to the Lender, and confirms
                                         that the Lender executes and performs this Agreement in reliance of such representations
                                         and warranties:

 

		4.1.1	The
                                         Borrower has the full capacity and power to enter into this Agreement;

 

		4.1.2	The
                                         execution of this Agreement of the Borrower will not violate any law or binding obligations
                                         of the Borrower;

 

		4.1.3	This
                                         Agreement shall constitute a binding obligation of the Borrower, enforceable against
                                         him in accordance with its terms upon its execution;

 

		4.1.4	The
                                         Borrower neither commits criminal behaviors nor is involved in criminal activity;

 

		4.1.5	Except
                                         for the option under the Option Agreement and the pledge under the Pledge Agreement,
                                         without the prior consent of the Lender, the Borrower shall not create any pledge over
                                         part or whole of the Borrower’s right in Renren Automobile or any priority for any third
                                         party where the beneficiary is neither the Lender nor its subsidiaries or affiliates;

 

		4.2	The
                                         Lender makes the following representations and warranties to the Borrower:

 

		4.2.1	The
Lender is a company registered and validly existing under the laws of PRC;

 

     3

     

    

 

		4.2.2	The
                                         execution and performance of this Agreement by the Lender is in compliance with the power
                                         of the Lender. The Lender has taken proper measures and has gained authorizations and
                                         approvals from all third parties and governmental departments or agencies, to execute
                                         and perform its obligations under this Agreement in accordance with the limitations of
                                         the laws and contracts which are binding or bear influences over the Lender; and

 

		4.2.3	This
                                         Agreement shall constitute the legal, valid and binding obligations of the Lender, enforceable
                                         against the Lender in accordance with its terms upon its execution.

 

		5.	Covenants
                                         and Undertakings of Borrower

 

		5.1	The
                                         Borrower, as a shareholder of Renren Automobile, hereby undertakes to, and shall cause
                                         Renren Automobile, to observe the following terms with all efforts during the term of
                                         this Agreement:

 

		5.1.1	It
                                         shall not modify in any way its articles of association or alter its shareholding structure
                                         without the prior written consent of the Lender;

 

		5.1.2	It
                                         shall not transfer or dispose of any material asset, or create any other security interest
                                         neither for the Lender nor for its subsidiaries / affiliates over the same without the
                                         prior written consent of the Lender;

 

		5.1.3	It
                                         shall not provide any warranty or assume any debt for any third party which is beyond
                                         its normal daily business scope without the prior written consent of the Lender;

 

		5.1.4	It
                                         shall not enter into any material contracts without the prior written consent of the
                                         Lender, except those entered into in the ordinary course of business (for the purpose
                                         of this paragraph, any contract with a value exceeding RMB 100,000 shall be deemed to
                                         be a material contract);

 

		5.1.5	It
                                         shall not extend any loan or credit to any party without the prior written consent of
                                         the Lender;

 

		5.1.6	It
                                         shall not merge with or invest in any third party without the prior written consent of
                                         the Lender;

 

		5.1.7	It
                                         shall not declare in any way any bonus or dividends for its shareholders without the
                                         prior written consent of the Lender;

 

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		5.1.8	It
shall not conduct any business that is beyond the normal course of business;

 

		5.1.9	It
shall not change or dismiss an executive director or to dismiss and replace any senior management members;

 

		5.1.10	It
shall not make significant adjustment to its business operation model, marketing strategy, operation policy or client relationship;
and

 

		5.1.11	It
shall not have any of its subsidiaries do any of the foregoing.

 

		5.2	The
                                         Borrower further commits to the Lender, during the term of this Agreement, as follows:

 

		5.2.1	he
                                         shall take all the measures to guarantee and maintain his identification and status as
                                         a shareholder of Renren Automobile;

 

		5.2.2	he
                                         shall not transfer or dispose of any of his equity interest or other rights or powers
                                         pertinent to his equity interest in Renren Automobile;

 

		5.2.3	he
                                         shall procure that the shareholders’ meeting of Renren Automobile shall not pass any
                                         decision about its merger with or investment in any third party without the prior written
                                         consent of the Lender;

 

		5.2.4	he
                                         shall not carry out any action bearing material influences on the assets, business, obligations
                                         or liabilities of Renren Automobile without prior written consent of the Lender;

 

		5.2.5	he
                                         shall immediately and unconditionally transfer all or part of his equity interest in
                                         Renren Automobile to the Lender or any third party designated by the Lender in accordance
                                         with PRC laws and, where applicable, procure all the other shareholders of Renren Automobile
                                         waive any prior right over purchasing such shares, as required by the Lender;

 

		5.2.6	he
                                         shall strictly observe his commitments and guarantees under this Agreement and other
                                         related agreements.

 

		5.3	The
                                         Borrower hereby covenants and undertakes that upon the signing of this Agreement, the
                                         Borrower shall:

 

		5.3.1	pledge
                                         all equity interest in Renren Automobile held by the Borrower for the benefit of Lender
                                         to guarantee the due repayment of the Loan hereunder, and enter into the Pledge Agreement
                                         with Lender;

 

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		5.3.2	deliver
                                         a power of attorney to appoint and authorize individuals designated by the Lender to
                                         exercise the rights and powers pertinent to the equity interest in Renren Automobile
                                         held by the Borrower;

 

		5.3.3	confirm
and agree that the Lender shall have the right to acquire or to designate any third party of its choice to acquire from time to
time part or all of the equity interest of Renren Automobile from the Borrower at an agreed price pursuant to the Option Agreement.

 

		6.	Default

 

If
the Borrower fails to perform his repayment obligation pursuant to this Agreement, an overdue interest at the rate of 0.01% per
day upon the outstanding amount of the Loan shall be payable to the Lender.

 

		7.	Confidentiality

 

		7.1	The
                                         Parties acknowledge and confirm to take all possible measures to keep confidential all
                                         the confidential materials and information (the “Confidential Information”)
                                         they get to know by this Agreement. The
Parties shall not disclose, provide or transfer such Confidential Information to any third party without the prior written consent
of the other Party. In case of the termination of this Agreement, the receiving party of the Confidential Information shall return
or destroy all the files, materials or software as required by the disclosing party, and delete any of the Confidential Information
from any memory equipments and discontinue using such Confidential Information.

  

		7.2	The
                                         Parties agree that this Section 7 shall survive the modification and termination of this
                                         Agreement.

 

		8.	Notices

 

Unless
a written notice of change of address is issued, all correspondence relating to this Agreement shall be delivered in person, or
by registered or prepaid mail, or by recognized express services or facsimile to the addresses appointed by the other party from
time to time.

 

		9.	Governing
                                         Law and Dispute Settlement

 

		9.1	The
                                         execution, validity, performance and interpretation of this Agreement shall be governed
                                         by and construed in accordance with the laws of the PRC.

 

		9.2	The
                                         Parties shall strive to settle any dispute arising from the interpretation or performance
                                         through friendly consultation. In case no settlement can be reached through consultation,
                                         either party may submit such matter to China International Economic and Trade Arbitration
                                         Commission (“CIETAC”) Beijing headquarter for arbitration. The arbitration
                                         shall follow the then current rules of CIETAC, and the arbitration proceedings shall
                                         be conducted in Chinese and shall take place in Beijing. The arbitration award shall
                                         be final and binding upon the Parties. This article shall not be affected by the termination
                                         or elimination of this Agreement.

 

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		9.3	In
                                         case of any disputes arising out of the interpretation and performance of this Agreement
                                         or any pending arbitration of such dispute, each party shall continue to perform their
                                         obligations under this Agreement, except for the matters in dispute.

 

		10.	Force
Majeure

 

		10.1	Force
                                         Majeure refers to any accident which is beyond a Party’s control and is inevitable with
                                         the reasonable care of the other Party who shall be influenced, including but not limited
                                         to governmental activity, natural force, fire, explosion, storm, flood, earthquake, tide,
                                         lightening or war. However, the credit, capital or shortage of financing shall not be
                                         deemed as the matters beyond one Party’s reasonable control. The Party influenced by
                                         the Force Majeure and seeking for exemption hereunder shall notify the other Party as
                                         soon as possible and inform the other Party of the measures to take in order to accomplish
                                         the performance of this Agreement.

 

		10.2	In
                                         case the performance of this Agreement is delayed or cumbered by the above-referenced
                                         Force Majeure, the Party who is influenced by the Force Majeure shall not bear any liability
                                         within the scope of delay and cumbrance, and shall take all the proper measures to reduce
                                         or eliminate the influence of Force Majeure, and shall make efforts to renew the performance
                                         of its obligations hereunder which has been delayed or cumbered by the Force Majeure.
                                         Each Party shall try its best to restore the performance of this Agreement once the Force
                                         Majeure is eliminated.

 

		11.	Effective
                                         Date

 

This
Agreement shall be effective upon its being signed by the Parties hereunder. Notwithstanding the foregoing, the Lender and the
Borrower confirm that the Loan was duly and fully extended by the Lender prior to the execution of this Agreement.

 

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		12.	Miscellaneous

 

		12.1	Any
                                         modification, termination or waiver of this Agreement shall not take effect without the
                                         written consent of each party.

 

		12.2	Any
                                         appendix attached hereto shall be of the same effect as this Agreement.

 

		12.3	The
                                         Borrower shall not transfer his rights and obligations hereunder to any third party without
                                         the prior written consent of the Lender.

 

		12.4	In
case any terms and stipulations in this Agreement is regarded as illegal or cannot be performed in accordance with the applicable
law, it shall be deemed to be deleted from this Agreement and lose its effect and this Agreement shall remain its effect and be
treated as without it from the very beginning. Each Party shall replace the deleted stipulations with those lawful and effective
ones, which are acceptable to the Lender, through mutual negotiation.

 

[The
space below is intentionally left blank.] 

 

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IN
WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed on their behalf by a duly authorized representative
as of the date first written above. 

 

LENDER:
Shanghai Renren Automobile Technology Company Limited. 

(Company
Seal)

 

	By:	 	 
	Authorized Representative: Liu Jian	 
	 	 	 
	BORROWER: Ren Jintao	 
	 	 	 
	By:	 	 
	 	 	 

 [SIGNATURE
PAGE TO LOAN AGREEMENT]

 

     9

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