Document:

Exhibit 10.11

 

Loan Agreement

 

This Loan Agreement (the “Agreement”) is made and entered into by and between the Parties below as of November 23, 2016 in Beijing, the People’s Republic of China (“China” or the “PRC”):

 

(1)         Youxinpai (Beijing) Information Technology Co. Ltd. (the “Lender”), a sino-foreign joint venture enterprise, organized and existing under the laws of the PRC, with its address at 323701, No. 5 Building, No. 1 Garden, Futong East Road, Chaoyang District, Beijing

 

(2)         Dai Kun (the “Borrower”), a citizen of China with Chinese Identification No.: ************.

 

The Lender and the Borrower shall each be hereinafter referred to as a “Party” respectively, and they shall be collectively referred to as the “Parties.”

 

Whereas:

 

1.              As of the date hereof, the Borrower holds 99.9923% of equity interests in Youxin Internet (Beijing) Information Technology Co., Ltd. (the “Borrower Company”). All of the equity interest now held and hereafter acquired by the Borrower in the Borrower Company shall be referred to as the “Borrower Equity Interest;”

 

2.              The Lender confirms that it agrees to provide the Borrower with a loan to be used in this Agreement.  The Borrower confirms that he/she has received a loan equaling RMB 96,000,000 to be used for the purpose of setting forth under this Agreement.

 

After friendly consultation, the Parties agree as follows:

 

1                     Loan

 

1.1                     In accordance with the terms and conditions of this Agreement, the Lender and the Borrower hereby acknowledge that the Borrower has obtained from the Lender a loan in the amount of RMB 96,000,000 (the “Loan”). The term of the Loan shall be 10 years from the effective date of this Agreement, which may be extended upon mutual written consent of the Parties. During the term of the Loan or the extended term of the Loan, the Borrower shall immediately repay the full amount of the Loan in the event that any of the following circumstances occur:

 

1.1.1                    30 days elapse after the Borrower receives a written notice from the Lender requesting repayment of the Loan;

 

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1.1.2                    The Borrower’s death, lack, or limitation of civil capacity;

 

1.1.3                    The Borrower ceases (for any reason) to be an employee of the Lender, the Borrower Company or their affiliates;

 

1.1.4                    The Borrower engages in or is involved in criminal activities;

 

1.1.5                    According to the applicable laws of China, foreign investors are permitted to invest in the principle business that is currently conducted by the Borrower Company in China with a controlling stake and/or in the form of wholly foreign-owned enterprises, the relevant competent authorities of China begin to approve such investments, and the Lender exercises the exclusive option under the Fourth Amended and Restated Exclusive Option Agreement (the “Exclusive Option Agreement”) described in this Agreement.

 

1.2                     The Loan provided by the Lender under this Agreement shall inure to the Borrower’s benefit only and not to the Borrower’s successor(s) or assign(s).

 

1.3                     The Borrower agrees to accept the aforementioned Loan provided by the Lender, and hereby agrees and warrants using the Loan to increase the registered capital of the Borrower Company. Without the Lender’s prior written consent, the Borrower shall not use the Loan for any purpose other than as set forth herein.

 

1.4                     The Lender and the Borrower hereby agree and acknowledge that the Borrower’s method of repayment shall be at the sole discretion of the Lender, and shall at the Lender’s option take the form of the Borrower’s transferring the Borrower Equity Interest in whole to the Lender or the Lender’s designated persons (legal or natural persons) pursuant to the Lender’s exercise of its right to acquire the Borrower Equity Interest under the Exclusive Option Agreement, and any proceeds from the transfer of the Borrower Equity Interest (to the extent permissible) shall be used by the Borrower to repay the Loan to the Lender, in accordance with this Agreement and in the manner designated by the Lender.

 

1.5                     The Lender and the Borrower hereby agree and acknowledge that to the extent permitted by the applicable laws, the Lender shall have the right but not the obligation to purchase or designate other persons (legal or natural persons) to purchase the Borrower Equity Interest in part or in whole at any time, at the price stipulated in the Exclusive Option Agreement.

 

1.6                     The Borrower also undertakes to execute an irrevocable the Fourth Amended and Restated Power of Attorney (the “Power of Attorney”), which authorizes the Lender or a legal or natural person designated by the Lender to exercise all of the Borrower’s rights as a shareholder of the Borrower Company.

 

1.7                     When the Borrower transfers the Borrower Equity Interest to the Lender or the Lender’s designated person(s), in the event that the transfer price of  such equity interest is equal to or lower than the principal of the Loan under this Agreement, the Loan under this Agreement shall be deemed an interest-free loan. In the event that the transfer price of such equity interest exceeds the principal of the Loan under this Agreement, the excess over the principal shall be deemed the interest of the Loan under this Agreement payable by the Borrower to the Lender.

 

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2                     Representations and Warranties

 

2.1                     Between the date of this Agreement and the date of termination of this Agreement, the Lender hereby makes the following representations and warranties to the Borrower:

 

2.1.1                    The Lender is a corporation duly organized and legally existing in accordance with the laws of China;

 

2.1.2                    The Lender has the legal capacity to execute and perform this Agreement. The execution and performance by the Lender of this Agreement is consistent with the Lender’s scope of business and the provisions of the Lender’s corporate by laws and other organizational documents, and the Lender has obtained all necessary and proper approvals and authorizations for the execution and performance of this Agreement; and

 

2.1.3                    This Agreement constitutes the Lender’s legal, valid, and binding obligations enforceable in accordance with its terms.

 

2.2                     Between the date of this Agreement and the date of termination of this Agreement, the Borrower hereby makes the following representations and warranties:

 

2.2.1                    The Borrower has the legal capacity to execute and perform this Agreement. The Borrower has obtained all necessary and proper approvals and authorizations for the execution and performance of this Agreement;

 

2.2.2                    This Agreement constitutes the Borrower’s legal, valid, and binding obligations enforceable in accordance with its terms; and

 

2.2.3                    There are no disputes, litigations, arbitrations, administrative proceedings, or any other legal proceedings relating to the Borrower, nor are there any potential disputes, litigations, arbitrations, administrative proceedings, or any other legal proceedings relating to the Borrower.

 

3                     Borrower’s Covenants

 

3.1                     As and when he/she becomes, and for so long as he/she remains a shareholder of the Borrower Company, the Borrower irrevocably covenants that during the term of this Agreement, the Borrower shall cause the Borrower Company:

 

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3.1.1                    To strictly abide by the provisions of the Exclusive Option Agreement and the Amended, the Fourth Amended and Restated Equity Interest Pledge Agreement (the “Equity Interest Pledge Agreement”) and Restated Exclusive Business Cooperation Agreement (the “Exclusive Business Cooperation Agreement”) to which the Borrower Company is a party, and to refrain from any action/omission that may affect the effectiveness and enforceability of the Exclusive Option Agreement, the Equity Interest Pledge Agreement and the Exclusive Business Cooperation Agreement.

 

3.1.2                    At the request of the Lender (or a party designated by the Lender), to execute the contracts/agreements on business cooperation with the Lender (or a party designated by the Lender), and to strictly abide by such contracts/agreements;

 

3.1.3                    To provide the Lender with all of the information on the Borrower Company’s business operations and financial condition at the Lender’s request;

 

3.1.4                    To immediately notify the Lender of the occurrence or possible occurrence of any litigation, arbitration, or administrative proceedings relating to the Borrower Company’s assets, business, or income;

 

3.1.5                    At the request of the Lender, to appoint any persons designated by the Lender as directors of the Borrower Company;

 

3.2                     The Borrower covenants that during the term of this Agreement, he/she shall:

 

3.2.1                    Endeavor to keep the Borrower Company engaged in its principle businesses and to keep the specific business scope of its business license;

 

3.2.2                    Abide by the provisions of this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option Agreement to which the Borrower is a party, perform his/her obligations under this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option Agreement, and refrain from any action/omission that may affect the effectiveness and enforceability of this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option Agreement;

 

3.2.3                    Not sell, transfer, mortgage or dispose of in any other manner the legal or beneficial interest in the Borrower Equity Interest, or allow the encumbrance thereon of any security interest, except in accordance with the Equity Interest Pledge Agreement;

 

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3.2.4                    Causing any shareholders’ meeting and/or the board of directors of the Borrower Company to not approve the sale, transfer, mortgage or disposition in any other manner of any legal or beneficial interest in the Borrower Equity Interest, or allow the encumbrance thereon of any security interest, except to the Lender or the Lender’s designated person;

 

3.2.5                    Causing any shareholders’ meeting and/or the board of directors of the Borrower Company to not approve the merger or consolidation of the Borrower Company with any person, or its acquisition of or investment in any person, without the prior written consent of the Lender;

 

3.2.6                    Immediately notify the Lender of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to the Borrower Equity Interest;

 

3.2.7                    To the extent necessary to maintain his/her ownership of the Borrower Equity Interest, execute all necessary or appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or raise necessary and appropriate defense against all claims;

 

3.2.8                    Without the prior written consent of the Lender, refrain from any action/omission that may have a material impact on the assets, business and liabilities of the Borrower Company;

 

3.2.9                    Appointing any designee of the Lender as director of the Borrower Company, at the request of the Lender;

 

3.2.10             To the extent permitted by the laws of China, at the request of the Lender at any time, promptly and unconditionally transfer all of the Borrower Equity Interest to the Lender or the Lender’s designated representative(s) at any time, and cause the other shareholders of the Borrower Company to waive their right of first refusal with respect to the share transfer described in this Section;

 

3.2.11             To the extent permitted by the laws of China, at the request of the Lender at any time, cause the other shareholders of the Borrower Company to promptly and unconditionally transfer all of their equity interests to the Lender or the Lender’s designated representative(s) at any time, and the Borrower hereby waives his/her right of first refusal (if any) with respect to the share transfer described in this Section;

 

3.2.12             In the event that the Lender purchases the Borrower Equity Interest from the Borrower in accordance with the provisions of the  Exclusive Option Agreement, use such purchase price obtained thereby to repay the Loan to the Lender;

 

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3.2.13             Without the prior written consent of the Lender, not cause the Borrower Company to supplement, change, or amend its articles of association in any manner, increase or decrease its registered capital or change its share capital structure in any manner; and

 

3.2.14             Contribute the registered capital in full corresponding to the Borrower Equity Interest in accordance with the laws of China, and provide Lender with a capital contribution verification report regarding paid-in capital issued by a qualified accounting firm.

 

4                     Liability for Default

 

4.1                     If the Borrower conducts any material breach of any term of this Agreement, the Lender shall have the right to terminate this Agreement and require the Borrower to compensate all damages; this Section 4.1 shall not prejudice any other rights of the Lender herein.

 

4.2                     The Borrower shall not terminate this Agreement in any event unless otherwise required by the applicable laws.

 

4.3                     In the event that the Borrower fails to perform the repayment obligations set forth in this Agreement, the Borrower shall pay an overdue interest of 0.01% per day for the outstanding payment, until the day the Borrower repays the full principal of the Loan, overdue interests and other payable amounts.

 

5                     Notices

 

5.1                     All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, prepaid postage, commercial courier service or by facsimile transmission to the address of such Party set forth below. A confirmation copy of each notice shall also be sent by email. The dates on such notices shall be deemed to have been effectively given shall be determined as follows:

 

5.1.1           Notices given by personal delivery, courier service, registered mail or prepaid postage, shall be deemed effectively given on the date of delivery.

 

5.1.2           Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of the transmission).

 

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

 

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Lender:
    	
 
    	
Youxinpai (Beijing) Information Technology   Co., Ltd.
    
	
Address:
    	
 
    	
Floor 37th, Building B, Tower 3, Wangjing Soho   Center, No. 10, Wangjing Street, Chaoyang District, Beijing (100102)
    
	
Attn:
    	
 
    	
Zeng Zhen
    
	
Facsimile:
    	
 
    	
010-56312701
    
	
 
    	
 
    	
 
    
	
Borrowed:
    	
 
    	
Dai Kun
    
	
Address:
    	
 
    	
Floor 37th, Building B, Tower 3, Wangjing Soho   Center, No. 10, Wangjing Street, Chaoyang District, Beijing (100102)
    
	
Facsimile:
    	
 
    	
010-56312701
    

 

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

 

6                     Confidentiality

 

The Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties in connection with the preparation and performance of this Agreement are regarded as confidential information.  Each Party shall maintain the confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors, employees, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section.  Disclosure of any confidential information by the shareholders, director, employees of or agencies engaged by any Party shall be deemed disclosure of such confidential information by such Party and such Party shall be held liable for breach of this Agreement.

 

7                     Governing Law and Resolution of Disputes

 

7.1           The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes shall be governed by the laws of China.

 

7.2           In the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute within 30 days after either Party’s request to the other Party for resolution of the dispute through negotiations, either Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration, in accordance with its then effective arbitration rules. The arbitration shall be conducted in Beijing. The arbitration award shall be final and binding on all Parties.

 

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7.3           Upon the occurrence of any disputes arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement.

 

8                     Miscellaneous

 

8.1           This Agreement should become effective upon execution by the Parties, and shall expire upon the date of full performance by the Parties of their respective obligations under this Agreement.

 

8.2           This Agreement shall be written in both Chinese and English language in two copies, each Party having one copy.  The Chinese version and English version shall have equal legal validity.

 

8.3           This Agreement may be amended or supplemented through written agreement by and between the Lender and the Borrower. Such written amendment agreement and/or supplementary agreement executed by and between the Lender and the Borrower are an integral part of this Agreement, and shall have the same legal validity as this Agreement.

 

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

 

8.5           The attachments (if any) to this Agreement shall be an integral part of this Agreement and shall have the same legal validity as this Agreement.

 

8.6           Any obligations that occur or that are due as a result of this Agreement upon the expiration or early termination of this Agreement shall survive the expiration or early termination thereof. The provisions of Sections 4, 6, 7 and this Section 8.6 shall survive the termination of this Agreement.

 

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

 

Lender:               Youxinpai (Beijing) Information Technology Co., Ltd.

 

[Company seal is affixed]

 

	
By:
    	
/s/Dai Kun
    	
 
    
	
Name:
    	
Dai Kun
    	
 
    
	
Title:
    	
Legal Representative
    	
 
    

 

Borrower:                        Dai Kun

 

	
By:
    	
/s/Dai KunExhibit 10.12

 

Exclusive Business Cooperation Agreement

 

This Exclusive Business Cooperation Agreement (this “Agreement”) is made and entered into by and between the following parties on April 9, 2016 in Beijing, the People’s Republic of China (“China” or the “PRC”).

 

Party A:               Yougu (Shanghai) Information Technology Co., Ltd.

 

Address:             Room 211, Floor 2, Building No. 3, No. 177, Meisheng Road, Free Trade Zone, Shanghai, China

 

Party B:               Youxin Yishouche (Beijing) Information Technology Co., Ltd.

 

Address:             Floor 4, Building No. 11, Guandongdian, Chaoyang District, Beijing, China (No. 1064, Hujialou Central Business Area)

 

Each of Party A and Party B shall be hereinafter referred to as a “Party” respectively, and as the “Parties” collectively.

 

Whereas,

 

1.                  Party A is a wholly foreign owned enterprise established in China, and has the necessary resources to provide technical and consulting services;

 

2.                  Party B is a company established in China with exclusively domestic capital and is permitted to engage in technology promotion service.  The businesses conducted by Party B currently and any time during the term of this Agreement are collectively referred to as the “Principal Business”;

 

3.                  Party A is willing to provide Party B with technical support, consulting services and other services on exclusive basis in relation to the Principal Business during the term of this Agreement, utilizing its advantages in technology, human resources, and information, and Party B is willing to accept such services provided by Party A or Party A’s designee(s), each on the terms set forth herein.

 

Now, therefore, through mutual discussion, the Parties have reached the following agreements:

 

1.                            Services Provided by Party A

 

1.1                               Party B hereby appoints Party A as Party B’s exclusive services provider to provide Party B with comprehensive technical support, consulting services and other services during the term of this Agreement, in accordance with the terms and conditions of this Agreement, including but not limited to the follows:

 

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(1)              Licensing Party B to use any software legally owned by Party A;

 

(2)              Development, maintenance and update of software involved in Party B’s business;

 

(3)              Design, installation, daily management, maintenance and updating of network system, hardware and database design;

 

(4)              Technical support and training for employees of Party B;

 

(5)              Assisting Party B in consultancy, collection and research of technology and market information (excluding market research business that wholly foreign-owned enterprises are prohibited from conducting under PRC law);

 

(6)              Providing business management consultation for Party B;

 

(7)              Providing marketing and promotion services for Party B;

 

(8)              Providing customer order management and customer services for Party B;

 

(9)              Leasing of equipments or properties; and

 

(10)       Other services requested by Party B from time to time to the extent permitted under PRC law.

 

1.2                               Party B agrees to accept all the services provided by Party A.  Party B further agrees that unless with Party A’s prior written consent, during the term of this Agreement, Party B shall not directly or indirectly accept the same or any similar services provided by any third party and shall not establish similar corporation relationship with any third party regarding the matters contemplated by this Agreement.  Party A may appoint other parties, who may enter into certain agreements described in Section 1.3 with Party B, to provide Party B with the services under this Agreement.

 

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1.3                               Service Providing Methodology

 

1.3.1                     Party A and Party B agree that during the term of this Agreement, where necessary, Party B may enter into further service agreements with Party A or any other party designated by Party A, which shall provide the specific contents, manner, personnel, and fees for the specific services.

 

1.3.2                     To fulfill this Agreement, Party A and Party B agree that during the term of this Agreement, where necessary, Party B may enter into equipment or property leases with Party A or any other party designated by Party A which shall permit Party B to use Party A’s relevant equipment or property based on the needs of the business of Party B.

 

1.3.3                     Party B hereby grants to Party A an irrevocable and exclusive option to purchase from Party B, at Party A’s sole discretion, any or all of the assets of Party B, to the extent permitted under PRC law, at the lowest purchase price permitted by PRC law.  The Parties shall then enter into a separate assets and/or business transfer agreement, specifying the terms and conditions of the transfer of the assets and/or business.

 

2.                            The Calculation and Payment of the Service Fees

 

2.1                              The fees payable by Party B to Party A during the term of this Agreement shall be calculated as follows:

 

2.1.1                     Party B shall pay service fee to Party A in each month.  The service fee for each month shall consist of management fee and fee for services provided, which shall be determined by Party A after considering:

 

(1)              Complexity and difficulty of the services provided by Party A;

 

(2)              Title of and time consumed by employees of Party A providing the services;

 

(3)              Contents and value of the services provided by Party A;

 

(4)              Market price of the same type of services;

 

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(5)              Operation conditions of the Party B.

 

Provided that the amount of service fee for each month shall not fall below 95% of Party B’s net income (which shall equal Party B’s monthly operational revenue less the operational costs and expenses approved by both Parties);

 

2.1.2           If Party A transfers technology to Party B or develops software or other technology as entrusted by Party B or leases equipments or properties to Party B, the technology transfer price, development fees or rent shall be determined by Party A based on the actual situations.

 

2.2                              Party A shall have the sole discretion to adjust the service fees as provided in Article 2.1.

 

3.                            Intellectual Property Rights and Confidentiality Clauses

 

3.1                              Party A shall have exclusive and proprietary ownership, rights and interests in any and all intellectual properties arising out of or created during the performance of this Agreement, including but not limited to copyrights, patents, patent applications, software, technical secrets, trade secrets and others.  Party B shall execute all appropriate documents, take all appropriate actions, submit all filings and/or applications, render all appropriate assistance and otherwise conduct whatever is necessary as deemed by Party A at its sole discretion for the purposes of vesting any ownership, right or interest of any such intellectual property rights in Party A, and/or perfecting the protections for any such intellectual property rights in Party A.

 

3.2                              The Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties in connection with the preparation and performance of this Agreement are regarded as confidential information.  Each Party shall maintain confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information to any third party, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors, employees, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section.  Disclosure of any confidential information by the shareholders, director, employees of or agencies engaged by any Party shall be deemed disclosure of such confidential information by such Party and such Party shall be held liable for breach of this Agreement.

 

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4.                            Representations and Warranties

 

4.1                              Party A hereby represents, warrants and covenants as follows:

 

4.1.1           Party A is a wholly foreign owned enterprise legally established and validly existing in accordance with the laws of China; Party A or the service providers designated by Party A will obtain all government permits and licenses for providing the service under this Agreement before providing such services.

 

4.1.2           Party A has taken all necessary corporate actions, obtained all necessary authorizations as well as all consents and approvals from third parties and government agencies (if required) for the execution, delivery and performance of this Agreement.  Party A’s execution, delivery and performance of this Agreement do not violate any explicit requirements under any law or regulation.

 

4.1.3           This Agreement constitutes Party A’s legal, valid and binding obligations, enforceable against it in accordance with its terms.

 

4.2                              Party B hereby represents, warrants and covenants as follows:

 

4.2.1           Party B is a company legally established and validly existing in accordance with the laws of China and has obtained and will maintain all permits and licenses for engaging in the Principal Business in a timely manner.

 

4.2.2           Party B has taken all necessary corporate actions, obtained all necessary authorizations as well as all consents and approvals from third parties and government agencies (if required) for the execution, delivery and performance of this Agreement.  Party B’s execution, delivery and performance of this Agreement do not violate any explicit requirements under any law or regulation.

 

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4.2.3           This Agreement constitutes Party B’s legal, valid and binding obligations, and shall be enforceable against it in accordance with its terms.

 

5.                            Term of Agreement

 

5.1                              This Agreement shall become effective upon execution by the Parties.  Unless terminated in accordance with the provisions of this Agreement or terminated in writing by Party A, this Agreement shall remain effective.

 

5.2                              During the term of this Agreement, each Party shall renew its operation term prior to the expiration thereof so as to enable this Agreement to remain effective.  This Agreement shall be terminated upon the expiration of the operation term of a Party if the application for renewal of its operation term is not approved by relevant government authorities.

 

5.3                              The rights and obligations of the Parties under Sections 3, 6, 7 and this Section 5.3 shall survive the termination of this Agreement.

 

6.                            Governing Law and Resolution of Disputes

 

6.1                              The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes hereunder shall be governed by the laws of China.

 

6.2                              In the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations.  In the event the Parties fail to reach an agreement on the dispute within 30 days after either Party’s request to the other Party for resolution of the dispute through negotiations, either Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration, in accordance with its arbitration rules.  The arbitration shall be conducted in Beijing, and the language used in arbitration shall be Chinese.  The arbitration award shall be final and binding on both Parties.

 

6.3                              Upon the occurrence of any disputes arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the matters under dispute, the Parties shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement.

 

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7.                            Breach of Agreement and Indemnification

 

7.1                              If Party B conducts any material breach of any term of this Agreement, Party A shall have right to terminate this Agreement and/or require Party B to indemnify all damages; this Section 7.1 shall not prejudice any other rights of Party A herein.

 

7.2                              Unless otherwise required by applicable laws, Party B shall not have any right to terminate this Agreement in any event.

 

7.3                              Party B shall indemnify and hold harmless Party A from any losses, injuries, obligations or expenses caused by any lawsuit, claims or other demands against Party A arising from or caused by the services provided by Party A to Party B pursuant this Agreement, except where such losses, injuries, obligations or expenses arise from the gross negligence or willful misconduct of Party A.

 

8.                            Force Majeure

 

8.1                              In the case of any force majeure events (“Force Majeure”) such as earthquake, typhoon, flood, fire, flu, war, strikes or any other events that cannot be predicted and are unpreventable and unavoidable by the affected Party, which directly causes the failure of either Party to perform or completely perform this Agreement, then the Party affected by such Force Majeure shall give the other Party written notices without any delay, and shall provide details of such event within 15 days after sending out such notice, explaining the reasons for such failure of, partial or delay of performance.

 

8.2                              If such Party claiming Force Majeure fails to notify the other Party and furnish it with proof pursuant to the above provision, such Party shall not be excused from the non-performance of its obligations hereunder.  The Party so affected by the event of Force Majeure shall use reasonable efforts to minimize the consequences of such Force Majeure and to promptly resume performance hereunder whenever the causes of such excuse are cured.  Should the Party so affected by the event of Force Majeure fail to resume performance hereunder when the causes of such excuse are cured, such Party shall be liable to the other Party.

 

8.3                              In the event of Force Majeure, the Parties shall immediately consult with each other to find an equitable solution and shall use all reasonable endeavours to minimize the consequences of such Force Majeure.

 

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9.                            Notices

 

9.1                              All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the address of such Party set forth below.  A confirmation copy of each notice shall also be sent by email.  The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

 

9.1.1           Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of receipt or refusal at the address specified for notices.

 

9.1.2           Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission).

 

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

 

	
Party A:
    	
 
    	
Yougu (Shanghai) Information Technology   Co., Ltd.
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Address:
    	
 
    	
Floor 37th, Building B, Tower 3, Wangjing Soho   Center, No. 10, Wangjing Street, Chaoyang District, Beijing (100102)
    	
 
    
	
Attn:
    	
 
    	
Zeng Zhen
    	
 
    
	
Phone:
    	
 
    	
+86 10-5631 2811
    	
 
    
	
Email:
    	
 
    	
zengzhen@xin.com
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Party C:
    	
 
    	
Youxin Yishouche (Beijing) Information Technology   Co., Ltd.
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Address:
    	
 
    	
Floor 37th, Building B, Tower 3, Wangjing Soho   Center, No. 10, Wangjing Street, Chaoyang District, Beijing (100102)
    	
 
    
	
Attn:
    	
 
    	
Zeng Zhen
    	
 
    
	
Phone:
    	
 
    	
+86 10-5631 2811
    	
 
    
	
Email:
    	
 
    	
zengzhen@xin.com
    	
 
    

 

8

 

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

 

10.                     Assignment

 

10.1                       Without Party A’s prior written consent, Party B shall not assign its rights and obligations under this Agreement to any third party.

 

10.2                       Party B agrees that Party A may assign its obligations and rights under this Agreement to any third party and in case of such assignment, Party A is only required to give written notice to Party B and does not need any consent from Party B for such assignment.

 

11.                     Severability

 

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

 

12.                     Amendments and Supplements

 

Any amendments and supplements to this Agreement shall be in writing.  The amendment agreements and supplementary agreements that have been signed by the Parties and relate to this Agreement shall be an integral part of this Agreement and shall have the same legal validity as this Agreement.

 

13.                     Language and Counterparts

 

This Agreement is written in both Chinese and English language in two copies, each Party having one copy.  In case there is any conflict between the Chinese version and the English version, the Chinese version shall prevail.

 

9

 

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

 

Party A:            Yougu (Shanghai) Information Technology Co., Ltd.(Seal)

 

[Company seal is affixed]

 

	
By:
    	
/s/Zeng   Zhen
    	
 
    
	
Name:
    	
Zeng Zhen
    	
 
    
	
Title:
    	
Legal representative
    	
 
    

 

Party B:            Youxin Yishouche (Beijing) Information Technology Co., Ltd.

 

[Company seal is affixed]

 

	
By:
    	
/s/Zeng   Zhen
    	
 
    
	
Name:
    	
Zeng Zhen
    	
 
    
	
Title:
    	
Legal   representative

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00284-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00284-of-00352.parquet"}]]