Document:

Exhibit 4.25

English Translation

 

April 22, 2015

 

 

Taobao (China) Software Co., Ltd.

(as the lender)

 

and

 

XIE Shihuang

(as the borrower)

 

 

LOAN AGREEMENT

 

 

 

TABLE OF CONTENTS

 

	
1.
    	
LOAN
    	
1
    
	
 
    	
 
    	
 
    
	
2.
    	
RELEASE OF LOAN
    	
1
    
	
 
    	
 
    	
 
    
	
3.
    	
TERM OF LOAN AND EXTENSION
    	
2
    
	
 
    	
 
    	
 
    
	
4.
    	
INTEREST RATE AND INTERSET   CALCULATION
    	
2
    
	
 
    	
 
    	
 
    
	
5.
    	
REPAYMENT
    	
3
    
	
 
    	
 
    	
 
    
	
6.
    	
REPRESENTATIONS AND WARRANTIES   OF THE BORROWER
    	
3
    
	
 
    	
 
    	
 
    
	
7.
    	
UNDERTAKINGS OF THE BORROWER
    	
3
    
	
 
    	
 
    	
 
    
	
8.
    	
LIABLITY FOR BREACH OF CONTRACT
    	
4
    
	
 
    	
 
    	
 
    
	
9.
    	
ASSIGNMENT
    	
5
    
	
 
    	
 
    	
 
    
	
10.
    	
MISCELLANEOUS
    	
5
    

 

 

LOAN AGREEMENT

 

This LOAN AGREEMENT (this “Agreement”), dated April 22, 2015, is made in Binjiang District, Hangzhou by and between:

 

(1)         Taobao (China) Software Co., Ltd., a limited liability company established in accordance with the Company Law of the People’s Republic of China, with its address at Jingfeng Village, Wuchang Subdistrict, Yuhang District, Hangzhou (the “Lender”); and

 

(2)         XIE Shihuang, holder of identity card no.                                   (the “Borrower”, and together with the Lender, the “Parties”).

 

WHEREAS, the Borrower shall repay the relevant principal and interest (“Payable Amounts”) payable under the financing obtained by him from a third party (the “Financing Provider”). The Borrower intends to raise funds from the Lender for the purpose of paying part of the Payable Amounts; the Lender intends to provide financing to the Borrower for payment of part of the Payable Amounts;

 

THEREFORE, in order to consummate the aforesaid transaction and through friendly consultation, the Parties hereby agree as follows:

 

1.                          LOAN

 

1.1                   The Lender agrees to provide to the Borrower a loan in an aggregate principal amount of up to RMB2 billion on the terms and conditions of this Agreement (the “Loan”).

 

1.2                   The Borrower shall use the entire amount of the Loan to pay the Payable Amounts; that is, the Loan shall only be used for the purpose of repaying the relevant principal and interest payable by the Borrower to the Financing Provider.

 

1.3                   The Borrower shall apply to the Lender for the Loan hereunder only from and after January 1, 2016.

 

2.                          RELEASE OF LOAN

 

2.1                   The Parties agree that when and only when the Borrower is to pay the Payable Amounts, he shall have the right to submit to the Lender a drawdown application requesting the release of the relevant Loan by any means of communication set forth in Article 10.1 hereof three (3) business days prior to the expected drawdown date.  The drawdown application shall meet the

 

1

 

following conditions:

 

(1)                     The expected drawdown date shall be a business day;

 

(2)                     The following bank account shall be designated as the account for receipt of the Loan (the “Beneficiary Account”):

 

Account Name: XIE Shihuang

Bank: Industrial and Commercial Bank of China Limited, Hangzhou High-tech Development Zone Subbranch

Account No.: 

 

(3)                     The evidence of the Payable Amounts that required to be paid by the Borrower shall be attached thereto (e.g. the written instruction from the Financing Provider in the form of written notice, email or otherwise requesting the Borrower to pay the Payable Amounts).

 

2.2                   Subject to the following conditions, the Lender shall, after receipt of the drawdown application under Article 2.1, release the relevant principal amount of the Loan as requested to be drawn down in the drawdown application to the Beneficiary Account on the expected drawdown date:

 

(1)                     No Event of Default hereunder has occurred on the part of the Borrower;

 

(2)                     The aggregate of the principal amount of the Loan requested to be drawn down in the drawdown application and the principal amount of the Loan then released by the Lender shall not exceed the maximum principal amount of the Loan specified in Article 1.1 hereof.

 

3.                          TERM OF LOAN AND EXTENSION

 

The term of the Loan shall be five (5) years from the date of the first release of the Loan made by the Lender to the Beneficiary Account in accordance with Article 2 (the “Value Date”), which term may be extended upon mutual agreement of the Parties where necessary.

 

4.                          INTEREST RATE AND INTERSET CALCULATION

 

4.1                   Interest Rate of the Loan

 

Interest shall accrue on each released Loan at a rate equal to the Shanghai Interbank Offered Rate (SHIBOR) as specified in the notice from the Lender to the Borrower from time to time for the number of days when such Loan is used by the Borrower from the date when such loan is released to the Beneficiary

 

2

 

Account until full repayment thereof (calculated on the basis of a 365-day year).

 

4.2                   Interest Payment

 

The Borrower shall pay the aggregate amount of interest payable hereunder on a lump-sum basis on the day of expiration of the loan term specified in Article 3 hereof (or such extended term as otherwise agreed by the Parties).

 

5.                          REPAYMENT

 

The Borrower shall fully repay to the Lender all amount of the Loan drawn down hereunder and all interest accrued and payable thereon on the day of expiration of the loan term specified in Article 3 hereof (or such extended term as otherwise agreed by the Parties). Upon utual agreement of the Parties, the Borrower may early repay part or all of the Loan prior to the expiration of the loan term or the extended term.

 

6.                          REPRESENTATIONS AND WARRANTIES OF THE BORROWER

 

The Borrower represents and warrants to the Lender as below and acknowledges that the Lender enters into this Agreement in reliance upon such representations and warranties:

 

(1)                     He has the full civil capacity to enter into and perform this Agreement and consummate the transaction contemplated by this Agreement;

 

(2)                     This Agreement, upon due execution by the Parties, shall constitute legal, valid and binding obligations of him, enforceable against him in accordance with the terms hereof;

 

(3)                     All information, if any, furnished by him to the Lender is true, accurate and complete in all material respects.

 

7.                          UNDERTAKINGS OF THE BORROWER

 

The Borrower undertakes the following to the Lender:

 

(1)                       He shall ensure that his debt hereunder shall, at any time, rank at least pari passu in terms of priority of payment with his present or future liabilities to other creditors, except for (a) the right of priority of payment arising in accordance with law and (b) any other secured liabilities created or subsisting with the prior written consent of the Lender;

 

(2)                     He shall only use the Loan for the purpose specified in Article 1;

 

3

 

(3)                     He shall comply with all laws, regulations and government or administrative authorities’ orders applicable to him;

 

(4)                     He shall immediately notify the Lender upon the occurrence of:

 

(a)                     any litigation, arbitration or government authority’s proceedings involving, whether by way of service of summons, or property seizure or attachment or otherwise, him or his property or initiated by him, which litigation, arbitration or proceeding will adversely affect his ability to perform his obligations under this Agreement;

 

(b)                     any Event of Default set forth in Article 8.1;

 

(c)                      any other circumstances that may materially affect his ability to perform his obligations under this Agreement.

 

(5)                     He shall immediately repay any amount owed by him to the Financing Provider on the instructions of the Lender, and take any actions required by the Lender to fully repay or discharge his obligations, responsibilities or liabilities under any document entered into by and between him and the Financing Provider.

 

8.                          LIABLITY FOR BREACH OF CONTRACT

 

8.1                   Event of Default

 

Any of the following circumstances shall constitute an event of default under this Agreement (an “Event of Default”):

 

(1)                     The Borrower fails to use the Loan for the purpose set forth in Article 1;

 

(2)                     The Borrower fails to repay the principal, or pay the interest, of the Loan in full and on time in accordance with this Agreement;

 

(3)                     The Borrower becomes insolvent;

 

(4)                     The representations or warranties made by the Borrower are or are proved to be incomplete, incorrect or misleading in any material respect, which representations or warranties, to the extent they are remediable, fail to be remedied within thirty (30) days after the date of a relevant notice from the Lender to the Borrower;

 

(5)                     The Borrower fails to comply with or perform any covenant or agreement

 

4

 

under this Agreement, which failure, to the extent it is remediable, fails to be remedied within thirty (30) days after the date of a relevant notice from the Lender to the Borrower.

 

8.2                   Remedy for Breach of Contract

 

Upon the occurrence of any Event of Default, the Lender may give a written notice to the Borrower declaring all the balance of the Loan to be immediately due and payable.  The Borrower shall pay the complete balance of the Loan and the unpaid interest accrued thereon within twenty (20) business days after receipt of such written notice.

 

9.                          ASSIGNMENT

 

Neither Party shall assign any of its rights or obligations under this Agreement without the prior written consent of the other Party.

 

10.                   MISCELLANEOUS

 

10.1            Notices

 

Any notice, demand or communication hereunder (including, without limitation, the drawdown application described in Article 2.1) shall be made in writing and delivered or sent to the following addresses:

 

In the case to the Lender:

 

Address: Jingfeng Village, Wuchang Subdistrict, Yuhang District, Hangzhou

Telephone: 

Attention: 

 

In the case to the Borrower:

 

Address: Room 618, Building A East, No. 525 Xixi Road, Xihu District, Hangzhou, Zhejiang Province

Telephone: 

Attention: 

 

Either Party may change its address for communications at any time with notice to the other Party.

 

Unless there is evidence proving the early receipt thereof, a notice shall be deemed to have been received:

 

(1)                       upon delivery to the addresses above if delivered by hand;

 

5

 

(2)                       on the third (3) business day after it is sent if delivered by courier;

 

(3)                       upon transmission confirmation on the sender’s facsimile records if delivered by facsimile; and

 

(4)                       upon successful transmission as shown by the sender’s computer if delivered by email.

 

10.2            Entire Agreement

 

This Agreement constitutes the entire agreement and understanding between the Parties and shall supersede all previous discussions, negotiations or arrangements between the Parties with respect to the matter set forth herein.

 

10.3            Amendment

 

Any amendment to this Agreement (including, without limitation, any alteration, supplement or deletion) shall become effective only after a written agreement is duly executed by the Parties hereto.

 

10.4            Effectiveness

 

This Agreement shall become effective upon due execution by the Parties.

 

10.5            Waiver

 

No failure or delay on the part of the Lender to exercise any of its rights or remedies hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any rights or remedies preclude further exercise thereof or the exercise of any other rights or remedies.

 

10.6            Guarantee

 

To guarantee the Borrower’s performance of his obligations hereunder, the Borrower shall pledge all of his shares in the asset of Hangzhou Yunxi Investment Partnership Enterprise (Limited Partnership) to the Lender, and the relevant parties shall enter into a separate pledge agreement.

 

10.7            Governing Law

 

This Agreement shall be governed by, and construed in accordance with, the laws of the People’s Republic of China.

 

10.8            Dispute Resolution

 

Any dispute arising from the execution of this Agreement or in connection with this Agreement shall be resolved by the Parties hereto through friendly consultation. The requesting Party shall give a dated notice, notify the other Party of the occurrence of a dispute in a timely manner and specify the nature of the dispute. If the Parties are unable to resolve the dispute through consultation

 

6

 

within sixty (60) days after the date of the dispute notice, either Party may submit such matter to the competent people’s court in the place where this Agreement is executed.

 

10.9            Counterparts

 

This Agreement shall be made in two originals with each Party holding one original.  This Agreement may be executed and delivered by the Parties in separate counterparts (including by facsimile or PDF), each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement.

 

[The remainder of this page is intentionally left blank]

 

7

 

Execution Page

 

This Loan Agreement has been duly executed by the following Parties as of the date first written above.

 

 

	
Taobao (China)   Software Co., Ltd.
    
	
 
    
	
(Company Seal)
    	
 
    

 

 

	
Authorized Representative:
    	
/s/ LU Zhaoxi
    	
 
    
	
 
    	
 
    
	
(Signature)
    	
 
    

 

 

	
XIE Shihuang:
    	
/s/ XIE  Shihuang
    	
 
    
	
 
    	
 
    
	
(Signature)Exhibit 4.41

 

English Translation

 

Contract No.: GYRXTZ2015-ZQ0022-0005

 

PLEDGE AGREEMENT

 

Important Note: This Agreement is entered into by and between the parties through consultation on the basis of equality and voluntariness in accordance with law.  All the terms hereof are the true expression of the parties’ intentions.  To protect the legitimate rights and interests of the pledgor, the creditor hereby calls the pledgor’s full attention to the terms hereof appearing in bold.

 

 

Pledgee:        ICBC Credit Suisse Investment Management Co., Ltd. (“Party A”)

Responsible Person: KU Sanqi

Business Address: 6/F Block A, Xinsheng Mansion, No. 5 Finance Street, Xicheng District, Beijing

Telephone and Facsimile: 010-66583477

 

Pledgor:  Taobao (China) Software Co., Ltd. (“Party B”)

Legal Representative: LU Zhaoxi

Domicile: Jingfeng Village, Wuchang Sub-district, Yuhang District, Hangzhou

Telephone: 0571-88155188

 

WHEREAS, XIE Shihuang (i.e. the Debtor) and Party A entered into the ICBC Credit Suisse Investment — Hangzhou Yunxi Specific Asset Management Plan Debt Investment Agreement (No.: GYRXTZ2015-ZQ0022-0002), dated April 22, 2015, whereby Party A shall make debt investment in the Debtor.  To ensure the realization of Party A’s creditor’s rights thereunder, Party B is willing to provide guarantee to Party A by way of pledge of the shares of certain specific asset management plans lawfully held by Party B.  To specify the rights and obligations of the Parties, Party A and Party B enter into this Agreement through equal consultation in accordance with the Contract Law, the Guarantee Law, the Property Law and other relevant laws and regulations.

 

Article 1                                               Principal Guaranteed Debts

 

Article 1.1 The principal debts to be guaranteed by Party B shall be the creditor’s rights against XIE Shihuang (the “Debtor”) that Party A is entitled to under the principal agreement that Party A entered into with the Debtor on April 22, 2015 (Name: ICBC Credit Suisse Investment — Hangzhou Yunxi Specific Asset Management Plan Debt Investment Agreement; No.: GYRXTZ2015-ZQ0022-0002).

 

Article 1.2 The amount and term of the principal debts shall be those as set forth in the principal agreement.

 

Article 2                                               Scope of Guarantee of the Pledge

 

The scope of guarantee of the pledge includes the principal, proceeds, compound interest, penalty interest, default fine and damages in respect of the principal debts and all expenses arising from the realization of the pledge rights (including, without limitation, arbitration costs, attorneys’ fees, appraisal costs, auction costs and disposal costs).

 

Article 3                                               Collateral

 

Article 3.1        Party B, as the asset trustor, holds the shares of certain principal-guaranteed specific asset management plans (the “AMPs”) sponsored and

 

 

established by ICBC Credit Suisse Investment Management Co., Ltd., and Party B guarantees that such AMP shares are lawfully and validly held by it, and it has clear ownership of such AMP shares.  Party B pledges such AMP shares (including the principals, proceeds and any other interests) to Party A in accordance with this Agreement.  The particulars of the pledged shares of the AMPs are set forth in the List of Collateral which is attached as an appendix hereto and shall have the same legal force as this Agreement.

 

Article 3.2 The value of the collateral set forth in the List of Collateral shall not constitute the basis of valuation in the event of disposal of the collateral by Party A or restrict in any way the exercise of the pledge rights by Party A.

 

Article 3.3 The pledge rights of Party A shall include any interest accrued on the collateral, as well as any insurance proceeds, indemnities and compensation arising from the damage, loss or expropriation of the collateral.

 

Article 3.4 Party A shall have the right to collect the interest accrued on the collateral, and such interest shall be used to offset the costs and expenses arising from the collection thereof.

 

Article 3.5 If the collateral is damaged, lost or expropriated, the insurance proceeds, indemnities or compensation received by Party B shall be used as early repayment of the principal debts, or, with the consent of Party A, used to restore the value of the collateral, or deposited into the account designated by Party A so as to guarantee the performance of liabilities under the principal agreement.  The portion of the collateral that does not decrease in value shall remain as guarantee of the principal debts.

 

Article 3.6 If the collateral may be lost or damaged due to Party A’s improper custody, Party B may request Party A to withdraw the collateral, or may request the debts to be repaid early and return the pledged property.

 

Article 3.7 If the collateral may be damaged, or its value may decrease significantly due to any reason not attributable to Party A, which will threaten the rights of Party A, Party A shall have the right to request Party B to provide corresponding guarantee.

 

Article 3.8 Party B acknowledges that ICBC Credit Suisse Investment Management Co., Ltd. and Zhejiang Branch of Industrial and Commercial Bank of China Limited, as the manager and custodian under the AMPs, are aware of the pledge of the AMP shares hereunder.  Party B undertakes that during the term of this Agreement it shall not dispose of the collateral without the written consent of Party A.

 

 

Article 4                                               Delivery and Registration

 

Party B authorizes ICBC Credit Suisse Investment Management Co., Ltd. and Zhejiang Branch of Industrial and Commercial Bank of China Limited to freeze the “capital accounts” under the AMPs (Account No.: 1202027729900208714, Account Name: ICBC Credit Suisse Investment — ICBC — Ruijia No. 1 40th Specific Asset Management Plan; Account No.: 1202027729900210579, Account Name: ICBC Credit Suisse Investment — ICBC — Ruijia No. 1 41st Specific Asset Management Plan; Account No.: 1202027729900210606, Account Name: ICBC Credit Suisse Investment — ICBC — Ruijia No. 1 42nd Specific Asset Management Plan; Account No.: 1202027729900210730, Account Name: ICBC Credit Suisse Investment — ICBC — Ruijia No. 1 43rd Specific Asset Management Plan; Account No.: 1202027729900210854, Account Name: ICBC Credit Suisse Investment — ICBC — Ruijia No. 1 44th Specific Asset Management Plan; Account No.: 1202027729900210978, Account Name: ICBC Credit Suisse Investment — ICBC — Ruijia No. 1 45th Specific Asset Management Plan; Account No.: 1202027729900211082, Account Name: ICBC Credit Suisse Investment — ICBC — Ruijia No. 1 46th Specific Asset Management Plan; Account No.: 1202027729900211109, Account Name: ICBC Credit Suisse Investment — ICBC — Ruijia No. 1 47th Specific Asset Management Plan) and the “Asset Trustor’s Designated Account” (Account No.: 1202026219900137708, Account Name: Taobao (China) Software Co., Ltd.) directly and on their own initiative upon the effective date of this Agreement so as to effect the delivery, possession and pledge registration of the collateral.  Party B shall cooperate with Party A to complete such other formalities as Party A deems necessary for the pledge hereunder in a timely manner and at the expense of Party B.

 

Article 5                                               Realization of Pledge Right

 

Article 5.1 Party A shall have the right to realize the pledge rights in case of the occurrence of any of the following events; provided, however, that Party A shall realize the pledge rights in accordance with and subject to Article 13.1 hereof:

 

A.      the Debtor fails to repay the debt upon its due date (including the accelerated due date) of the principal debt;

 

B.      Party B fails to provide corresponding guarantee in the circumstance specified in Article 3.7 hereof;

 

C.      the Debtor is dead or declared death, missing or declared missing, or becomes a person without civil capacity or with limited civil capacity, and no successor, guardian or property custodian is available, or his successor, guardian or property custodian refuses to undertake the obligations on his behalf;

 

D.      An application for bankruptcy is filed against Party B, or Party B is wound up, dissolved or liquidated, or its business is suspended, or its business license is revoked or registration is cancelled;

 

 

E.      the Debtor fails to transfer the investment proceeds, debt investment principal and other amounts payable by him on the proceeds payment date and the debt investment maturity date to the accounts specified in the principal agreement within 5 business days prior to the proceeds payment date and the debt investment maturity date in accordance with the principal agreement;

 

F.      other circumstances under which Party A may realize the pledge rights in accordance with the laws and regulations.

 

Article 5.2 When Party A realizes the pledge rights in accordance with this Agreement, Party A may directly withdraw the principals and proceeds of the pledged shares of the AMPs and use the same to repay the principal debts without obtaining the consent of Party B; provided, however, that Party A shall notify Party B within 2 business days after such withdrawal.

 

Article 6                                               Representations and Warranties of Party B

 

Party B represents and warrants to Party A as follows:

 

Article 6.1 Party B is the owner of the collateral, and the collateral is free and clear of any dispute in ownership; Party B has obtained all authorizations or approvals necessary for the provision of guarantee to Party A in accordance with the procedures and authority under its articles of association and it does not violate the laws, regulations and other relevant rules.

 

Article 6.2 If it is an A-share company or a subsidiary controlled by an A-share company, Party B warrants that, in accordance with the Securities Law, the Listing Rules of the Stock Exchange and other laws, regulations and rules, it shall perform the information disclosure obligation in connection with such guarantee in a timely manner.

 

Article 6.3 Party B fully understands the purposes of the debts under the principal agreement.  It provides guarantee for the Debtor on its own accord and its intention expressed hereunder is genuine.

 

Article 6.4 The collateral hereunder may be lawfully pledged without any restrictions.

 

Article 6.5 If there are any defects in the collateral, Party B has provided adequate and reasonable explanation thereof.  If any pledge has already been created over the collateral, Party B has truthfully informed Party A thereof.

 

Article 6.6 No disposal of the collateral hereunder, including creation of security interest, giving as a gift or transfer, has been made prior to the execution of this Agreement.

 

Article 6.7 The collateral is not a common property; or if it is a common property, the

 

 

written consent of the joint owner(s) has been obtained in respect of the pledge.

 

Article 7                                               Undertakings of Party B

 

Party B undertakes the following to Party A:

 

Article 7.1 In case of the occurrence of any of the following events, without the consent of Party B, Party B shall continue to perform its guarantee obligations hereunder:

 

A.            Party A and the Debtor make any change to the principal agreement through consultation, without increasing the Debtor’s liabilities or extending the debt discharge period;

 

B.            Party A transfers the principal debts and the pledge.

 

Article 7.2 During the term of this Agreement, Party B shall not dispose of the collateral by way of gift, transfer or licensing without written consent of Party A.

 

Article 7.3 Party B shall bear all expenses arising from Party A’s realization of the pledge rights hereunder, including, without limitation, arbitration costs, attorneys’ fees, appraisal costs, auction costs and disposal costs, etc.

 

Article 7.4 Party B shall be liable for indemnification of any damage suffered by Party A or a third party arising out of the collateral for any reason not attributable to Party A.

 

Article 7.5 If Party A’s pledge rights is or may be infringed by any third party, Party B shall give a written notice to Party A in a timely manner and assist Party A to avoid such infringement.

 

Article 7.6 Party B shall actively cooperate with Party A in the realization of its pledge right, and shall not create any obstacle to restrict the exercise of the pledge rights by Party A.

 

Article 7.7 In case of the occurrence of any of the following events, Party B shall inform Party A in a timely manner:

 

A.            Any change in its legal and registered name, articles of association, scope of business, registered capital, legal representative or equity interest;

 

B.            It is wound up, dissolved or liquidated, or its business is suspended, or its business license is revoked or registration is cancelled, or an application for bankruptcy is filed against it;

 

 

C.            It is or may be involved in any material economic dispute, litigation or arbitration or its property is subject to seizure, attachment or supervision in accordance with the laws;

 

Article 7.8 Party B shall acknowledge the written notice from Party A in a timely manner.

 

Article 7.9 If the Debtor is dead or declared death, missing or declared missing, or becomes a person without civil capacity or with limited civil capacity, Party B shall not be released from its obligations under this Agreement.  Party B undertakes to continue to perform its guarantee obligations herein if the aforementioned event happens.

 

Article 7.10 Party B shall not change or increase the “Asset Trustor’s Designated Account” under the AMPs without the consent of Party A.

 

Article 7.11 If the collateral held by Party B is subject to a freezing order from or deduction by a competent authority, Party B shall provide a sum of money in an equivalent amount or other asset of equivalent value acceptable to Party A as security for the Debtor’s debts under the principal agreement.

 

Article 7.12 If the Debtor fails to repay the principal, proceeds or other payments in respect of the debt investment prior to the maturity of the AMPs in accordance with the principal agreement, subject to Article 13.1, Party A shall have the right to accelerate the disposal of all or part of the collateral so as to repay the principal, proceeds or other amounts in respect of the debt investment.  Party A may effect such early disposal by means of early withdrawal of trustors’ property under the AMPs or transfer of the AMP shares.

 

Article 7.13 If the pledge under this Agreement is, for any reason, rendered invalid, Party B agrees to provide at most a money amount equivalent to the AMP shares it holds (including principals, proceeds and any other interests) as the guarantee for the debts acceptable to Party A within the time limit as required by Party A under the principal agreement .

 

Article 7.14 If Party B withdraws part or all of the entrusted property under the AMPs prior to the Debtor’s repayment in full of all debts under the principal agreement, all principals or proceeds received by Party B shall be applied as early repayment of the Debtor’s liabilities under the principal agreement or deposited into Party A’s designated account to guarantee the Debtor’s discharge of the debt obligations under the principal agreement. If there is no breach of contract by the Debtor, including, without limitation, punctual and full payment of the principal, proceeds and other payable amounts in respect of the debt investment under the principal agreement, Party B may act in accordance with

 

 

the following provisions: in the case of punctual or early payment of the debt investment principal under the principal agreement as provided therein, Party B may on its own accord withdraw from the AMPs the corresponding withdrawn investment principal in an amount equal to1.05 times of the debt investment principal that is paid punctually or early; in the case if the Debtor pays the proceeds on time in accordance with the principal agreement, Party B may on its own accord withdraw the investment proceeds received under the AMPs for the corresponding period.

 

Article 8                                               Undertakings of Party A

 

Party A undertakes the following to Party B:

 

Article 8.1 Party A shall keep confidential the non-public information in relevant documents, financial materials and other related materials provided by Party B in performing its obligations hereunder, unless otherwise required by the relevant laws and regulations and specified herein.

 

Article 8.2 Party A shall keep the collateral properly.

 

Article 8.3 Party A shall return to Party B in a timely manner any remaining proceeds from the disposal of the collateral after all debts guaranteed by such collateral have been repaid.

 

Article 8.4 If the Debtor repays all debts in full in accordance with the principal agreement, or if Party B repays in full all debts owed to Party A under the principal agreement, Party A shall return to Party B in a timely manner the collateral and the ownership certificates in respect thereof, invoices, other relevant materials or the documents of title in relation to the collateral and take necessary procedures to release the freeze and other pledge in accordance with Article 4 of this Agreement.

 

Article 9                                               Breach of Contract

 

Article 9.1 Upon the effectiveness of this Agreement, a Party’s failure to perform any of its obligations hereunder or breach of any of its representations, warranties and undertakings hereunder shall constitute a breach of contract. The breaching Party shall indemnify the other Party for any loss suffered by it as a result thereof.

 

Article 9.2 Unless otherwise specified herein, in the case of a breach of contract by a Party, the other Party shall have the right to take any other measures provided in the laws, regulations and rules of the People’s Republic of China.

 

Article 10                                        Effectiveness, Modification and Termination

 

Article 10.1 This Agreement shall take effect upon the date of execution and terminate

 

 

upon the full repayment of the debts owed to Party A under the principal agreement.

 

Article 10.2 Any modification of this Agreement shall be made in writing upon mutual agreement of the Parties.  Any modified term or agreement shall constitute part of this Agreement and have the same legal force as this Agreement.  Other than such modified terms, the remaining part of this Agreement shall remain in effect, and the original terms shall remain in effect until the modified terms take effect.

 

Article 10.3 The invalidity and unenforceability of any term of this Agreement shall not affect the validity and enforceability of other terms of this Agreement or the validity of this Agreement as a whole.

 

Article 10.4 The modification and termination of this Agreement shall not affect each Party’s rights to claim indemnification for losses.  The termination of this Agreement shall not affect the validity of the terms of this Agreement regarding dispute resolution.

 

Article 11                                        Dispute Resolution

 

The execution, validity, interpretation and performance of this Agreement and dispute resolution hereunder shall be governed by the laws of the People’s Republic of China.  Any dispute or controversy arising out of or in connection with this Agreement shall be resolved by the Parties through consultation; if no settlement can be reached through such consultation, the dispute or controversy shall be resolved by such means as specified in paragraph A below:

 

A.            To submit the dispute to Hangzhou Financial Arbitration Institute for arbitration in Hangzhou (place of arbitration) in accordance with its arbitration rules in effect at the time of applying for arbitration.  The arbitral award shall be final and binding on the Parties.

 

B.            To resolve the dispute by litigation before a court of the place where Party A is located.

 

Article 12                                        Miscellaneous

 

Article 12.1 Party B shall not assign all or part of its rights or obligations hereunder without written consent of Party A.

 

Article 12.2 Failure or delay by Party A in exercising or partially exercising any of its rights hereunder shall not constitute a waiver or change of such right or any other right or shall it affect its further exercise of such right or any other right.

 

Article 12.3 Party A shall have the right to provide the information concerning

 

 

this Agreement and other relevant information to the basic credit information database of the People’s Bank of China or other lawfully established credit database for enquiry or use by qualified institutions or individuals in accordance with the relevant laws, regulations or other regulatory documents or required by a financial regulatory authority, . For the purpose of entry or performance of this Agreement, Party A shall also have the right to inquire for the information in relation to Party B through the basic credit information database of the People’s Bank of China and other lawfully established credit database.

 

Article 12.4 This Agreement shall be made in six originals.  Each Party shall hold two originals, and each of ICBC Credit Suisse Investment Management Co., Ltd. and Zhejiang Branch of Industrial and Commercial Bank of China Limited shall hold one original, all of which shall be of equal legal force and effect.

 

Article 13                                        Other Matters Agreed by the Parties

 

Article 13.1 The Parties agree that, if the Debtor cannot repay the debts in full and on time in accordance with the principal agreement, Party A shall first dispose of the collateral under the Pledge Agreement (No.: GYRXTZ2015-ZQ0022-0004) between Party A and Hangzhou Yunxi Investment Partnership Enterprise (Limited Partnership), namely the 286,671,000 shares of Wasu Media Holding Co., Ltd. held by Hangzhou Yunxi Investment Partnership Enterprise (Limited Partnership).  If the Debtor fails to make available the entire amount of the payable principal and proceeds in accordance with Articles 3.5 and 3.6 of the Debt Investment Agreement, and the proceeds from the disposal of the pledged shares specified above cannot fully repay the principal debts (including, without limitation, the pledged shares are unable to be disposed of due to lock-up period or otherwise, the failure to dispose of the pledged shares in a timely manner or in full, or the proceeds from disposal are insufficient to repay in full the payable principal and proceeds), Party A shall exercise the pledge rights hereunder by giving a notice to Party B in a timely manner.

 

Article 13.2 The Parties agree that the effectiveness of this Agreement and the completion of the account freezing procedures as provided herein shall constitute the satisfaction of the obligations under Article 6.1.3 (other full-value and valid security or repayment guarantee acceptable to additional investors) of the ICBC Credit Suisse Investment — Hangzhou Yunxi Specific Asset Management Plan Debt Investment Agreement (No.: GYRXTZ2015-ZQ0022-0002) between the Debtor and Party A.

 

Article 13.3 The Parties agree that, upon the effectiveness of this Agreement, the completion of the account freezing procedures provided herein and the effectiveness of the pledge under the Pledge Agreement (No.: GYRXTZ2015-ZQ0022-0004) between Party A and Hangzhou Yunxi Investment Partnership Enterprise (Limited Partnership), Party A shall issue to Hangzhou Yunxi Investment Partnership Enterprise (Limited Partnership) a letter of confirmation of the release of Hangzhou

 

Yunxi Investment Partnership Enterprise (Limited Partnership) from its obligations under the Agreement on Joint Assumption of Debts.

 

Appendix: List of Collateral

 

 

(Signature Page to Pledge Agreement)

 

Party A (seal): ICBC Credit Suisse Investment Management Co., Ltd.

 

Authorized signatory: [Seal]

 

Party B (seal): Taobao (China) Software Co., Ltd.

 

Authorized signatory: [Seal]

 

Date: May 28, 2015

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00246-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00246-of-00352.parquet"}]]