Document:

Exhibit 4.67
Technology Service Agreement
Between
Jinan LYZX Business Management Co., Ltd.
And
Beijing BoheLe Science and Technology Co. Ltd.
July 20, 2021

This Technology Service Agreement (this “Agreement”) is entered into by the following parties on July 20, 2021:
(1) Jinan LYZX Business Management Co., Ltd. (“Party A”), a limited liability company duly established and validly existing under the laws of People’s Republic of China (“China”), with its registered address at C503, 5/F, Qunlou, Xichengruanjianyuan, Chuangxingu, Gaoxin District, Jinan, Shandong Province, China, and
(2) Beijing BoheLe Science and Technology Co. Ltd. (“Party B”), a limited liability company duly established and validly existing under the laws of China, with its registered address at Room 1210, 12/F, Tower 1, Courtyard 54, Shijingshan Road, Shijingshan District, Beijing, China.
WHEREAS:
(1) Party A engages in education consulting, enterprise management consulting, commercial consulting (all excluding brokerage); enterprise marketing and promotion; in-system employee training;
(2) Party B has expertise and experience in software and hardware design and development;
(3) Party A and Party B (collectively referred to as the “Parties”) plan to promote their business development by mutual cooperation and developing their respective advantages.
NOW THEREFORE, the Parties agree as follows through friendly consultations:
Section 1 – Terms of Service
1.1 Party A hereby agrees to engage Party B as Party A’s exclusive education technology service provider, and Party B hereby agrees to accept such engagement.
1.2 Party A agrees that Party A shall not engage any other third party as its technology service provider without Party B’s prior written consent during the term of this Agreement.
1.3 Party A agrees that Party B shall have the right to provide other entities or individuals with the technology service equivalent or similar to that hereunder and to appoint other entities or individuals to provide the technology service hereunder.
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Section 2 – Scope of Service
See Appendix 1 for the scope of relevant technology service provided by Party B to Party A.
Section 3 – Service Fee
3.1 The Parties hereto agree that the fee for the technology service hereunder shall be determined and paid as specified in Appendix 2.
3.2 If Party A fails to pay service fee and other fees in accordance with the provisions of this Agreement, Party A shall pay Party B liquidated damages at 0.05% per day for the overdue amount.
3.3 Party B shall have the right to, at its own expense, appoint one of its employees or a certified public accountant it engages (“Party B’s Authorized Representative”) to examine Party A’s accounts in order to review the calculation method and amount of the service fee. To that end, Party A shall provide Party B’s Authorized Representative with documents, accounts, records, data, etc. that are necessary to audit Party A’s accounts and to determine the amount of the service fee. Unless there is any significant error, the amount of the service fee shall be as determined by Party B’s Authorized Representative.
3.4 Unless as otherwise agreed by the Parties, the service fee payable to Party B by Party A hereunder shall not be subject to any deduction or offset (e.g. bank charges).
3.5 In addition to the service fee described above, Party A shall pay Party B with the actual costs incurred by Party B for rendering consulting services hereunder, including without limitation, traveling expenses, car fare, printing expenses and postage etc.
Section 4 – Confidentiality
4.1 The Parties acknowledge that, during the term of this Agreement, either Party may obtain (1) the other Party’s non-public information, technical data, trade secrets or know-how relating to the actual and expected business or research and development of either Party, including without limitation research, product plans or other information relating to either Party’s products or services or promotions for products or services, customers’ lists and customers, software, development, invention, processes, formula, technologies, designs, drawings, engineering, hardware configuration information, marketing, financial or other business information, and (2) any third party’s confidential or proprietary information for which either Party assume confidentiality obligations and which shall be only used for certain limited purposes (“Confidential Information”). The Confidential Information does not include (1) any information that one Party already knows at the time such information is disclosed to such Party by the other Party; (2) any information that becomes public known or generally available not because of either Party’s illegal conduct; or (3) the information lawfully obtained by one Party from a third party authorized to make the disclosure.
4.2 Either Party will take reasonable measures to keep confidential the other Party’s Confidential Information and prevent disclosure and unauthorized use of such Confidential Information. Without limiting the foregoing, the Parties will at least take such measures as it will take for its own Confidential Information. Unless as reasonable required for the performance of its obligations hereunder or unless as the other Party approves in writing, neither Party shall make any copy of the
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other Party’s Confidential Information. Either Party shall reproduce the other Party’s proprietary rights notices on any approved copy in the manner in which such notice was set forth in or on the original.
4.3 Either Party shall (1) not disclose such Confidential Information to any person other than any of its directors, employees, authorized agents or independent contractors who need to know such Confidential Information to perform their duties hereunder; (2) only use Confidential Information for the purposes of fully performing its obligations hereunder; and (3) ensure any person from such Party who knows Confidential Information comply with the confidentiality obligations and other restrictive provisions hereunder as if such person were a party hereto. If one Party is required by law to disclose the other Party’s Confidential Information, such Party shall promptly notify the other Party in writing of such requirement prior to the disclosure, and shall assist the other Party in securing the order to protect such information against public disclosure. Neither Party shall reverse engineer, dissemble or decompile any prototype, software or any tangible object that contains the other Party’s Confidential Information and that is provided to such Party.
4.4 Either Party further agree to return to the other Party all written Confidential Information obtained from the other Party upon termination of this Agreement or at any other time requested by the other Party.
Section 5 – Intellectual Property
5.1 The Parties acknowledge and agree that Party B shall exclusively own all technical data, software, findings, inventions, developments, trade secrets, copyrights, documents and other materials improved or prepared by Party B under this Agreement, whether they are patentable or copyrighted.
5.2 If Party A makes improvements to “intellectual property”, such improvements shall be Party B’s exclusive proprietary property. Party A hereby transfers to Party B all of its rights, title and interests in and to such improvements.
Section 6 – Independent Contractor
The Parties expressly acknowledge and agree that Party B performs all the technology services hereunder as an independent contractor, and shall not be deemed to enter into any partnership, joint venture or other relationships of substantially the same or similar nature with Party A.
Section 7 – Representations and Warranties
7.1 Party A represents and warrants that:
(1) Party A is a company duly registered and validly existing under the laws of China;
(2) Party A’s execution and performance of this Agreement is within its corporate power and business scope; it has taken necessary corporate action and obtained proper authorization as well as the consents and approvals of third parties and government departments; it does not violate any legal or corporate restrictions binding upon or affecting it; and
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(3) Upon execution, this agreement shall constitute Party A’s legal, valid and binding obligations that may be enforced against it in accordance with the terms hereof.
7.2 Party B represents and warrants that:
(1) Party B is a company registered and validly existing under the laws of China;
(2) Party B’s execution and performance of this Agreement is within its corporate power and business scope; it has taken necessary corporate action and obtained proper authorization as well as the consents and approvals of third parties and government departments; it does not violate any legal or corporate restrictions binding upon or affecting it; and
(3) Upon execution, this agreement shall constitute Party B’s legal, valid and binding obligations that may be enforced against it in accordance with the terms hereof.
Section 8 – Liability for Breach
8.1 Either Party’s direct or indirect violation of any provisions hereof or failure to perform its obligation hereunder or failure to perform such obligation in a timely and adequate manner shall constitute breach of this Agreement. The non-breaching Party (“Non-Breaching Party”) shall have the right to require the breaching Party (“Breaching Party”) by written notice to redress its breach.
8.2 After the occurrence of the breach, if, according to the reasonable and objective judgment of the Non-Breaching Party, such breach has made it impossible or unfair for the Non-Breaching Party to perform its relevant obligations hereunder, then the Non-Breaching Party shall have the right to notify the Breaching Party in writing that the Non-Breaching Party will suspend the performance of its relevant obligations hereunder until the Breaching Party ceases such breach.
8.3 Party B’s liability arising out of this Agreement shall be limited to the amount of service fee received by Party B hereunder. In no event shall Party B be liable for any special, incidental, indirect or direct damages arising out of this Agreement.
Section 9 – Force Majeure
9.1 “Force Majeure” means any event that is beyond the reasonable control of the Parties hereto, unable to be foreseen or unable to be overcome even foreseen, which impedes, affects or delays either Party’s performance of all or part of its obligations under this Agreement. Such event includes without limitation any government act, act of God, war, hacker attack or any other similar event.
9.2 The Party affected by a Force Majeure event may suspend the performance of its relevant obligations hereunder that cannot be performed due to the Force Majeure until the effect of such Force Majeure event is eliminated, and shall not be held liable for such suspension. However, such Party shall use its best endeavor to overcome such event and mitigate its negative effect.
9.3 The Party affected by a Force Majeure event shall provide the other Party with a legitimate certificate issued by a notary public (or other proper agency) in the place where such event occurs to
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evidence the occurrence of such Force Majeure event. If such Party cannot provide such certificate, the other Party may hold such Party liable for breach in accordance with the provisions hereof.
Section 10 – Effectiveness and Term
This Agreement shall come into effect from the date when it is signed by the Parties’ authorized representatives. This Agreement shall remain effective unless it is terminated in accordance with the provisions hereof.
Section 11 – Termination
11.1 Party B shall have the right to terminate this Agreement at any time during the term of this Agreement upon fifteen (15) days’ notice to Party A.
11.2 If Party A materially or continually breaches this Agreement, and fails to remedy such breach within fourteen (14) days upon receipt of Party B’s notice specifying details of such breach (to the extent such breach is remediable), Party B shall have the right to terminate this Agreement immediately by sending a written notice of termination to Party A.
11.3 This Agreement may be terminated at any time by a written agreement between Party A and Party B.
Section 12 – Non-solicitation
Party A shall not take the following actions directly or indirectly in any manner for its own, any other individual or entity’s account, or together with any other individual or entity: (1) causing any employee of Party B to terminate his employment with Party B by solicitation, including employing or encouraging such employee; or attempting to solicit, induce, employ or encourage any employee of Party B. (2) causing any existing or previous client of Party A to terminate its business relationship with Party B.
Section 13 – Dispute Resolution
13.1 If any dispute arises in connection with the interpretation and performance of this Agreement, the Parties hereto shall first resolve such dispute in good faith through discussions. If no agreement can be reached within sixty (60) days after one Party receives the notice of the other Party requesting the beginning of discussions or any longer period agreed upon separately by the Parties, either Party shall have the right to submit such dispute to The China Arbitration Association for arbitration in accordance with its then effective rules. The arbitration shall be held in Beijing. The award of the arbitration shall be final and binding upon the Parties.
13.2 If any dispute arises in connection with the interpretation and performance of this Agreement, or such dispute is under arbitration, either Party shall continue to have the rights hereunder other than those in dispute and perform the obligations hereunder other than those in dispute.
Section 14 – Governing Law
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The execution, validity, performance, interpretation and enforcement of this Agreement shall be governed by the laws of China.
Section 15 – Assignment
15.1 Party A shall not assign its rights and obligations hereunder to any third party without Party B’s prior written consent.
15.2 Party A hereby agrees that Party B may assign its rights and obligations hereunder to any third party at its sole discretion, and Party B only needs to send a written notice to Party A upon such assignment without obtaining Party A’s consent.
15.3 This Agreement shall inure to and be binding upon the Parties and their respective successors and permitted assigns.
Section 16 – Severability
If any provision herein becomes partly or wholly invalid or unenforceable for violation of laws or government regulations or other reasons, then the part of such provision that is affected shall be deemed as deleted. However, the deletion of such part of such provision shall not affect the legal effect of other parts of such provision or the other provisions herein. The Parties shall cease to execute such invalid or unenforceable provision, and modify such provision so that it has the closest intent to the original provision and becomes valid and enforceable under relevant facts and circumstances.
Section 17 – Amendment and Supplement
The Parties may amend and supplement this Agreement by written agreement. Any amendments or supplements in connection with this Agreement that are duly signed by the Parties are part of this Agreement, and shall have the same force and effect as this Agreement.
Section 18 – Miscellaneous
18.1 The headings herein are for convenience only, and shall not affect the interpretation of any provisions hereof.
18.2 Unless otherwise provided herein, either Party’s failure to exercise or delay in exercising any of its rights or powers hereunder shall not be construed as a waiver of such rights or powers. Any single or partial exercise of any rights or powers shall not preclude the exercise of other rights or powers.
18.3 This Agreement shall supersede any prior or concurrent verbal or written agreement, understanding and communication between the Parties in connection with this Agreement.
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IN WITNESS HEREOF, the duly authorized representatives of the Parties have executed this Agreement on the date first above written.
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	Party A: Jinan LYZX Business Management Co., Ltd. 
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	(Corporate Seal)
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	Authorized Representative:
	/s/
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	Party B: Beijing BoheLe Science and Technology Co. Ltd. 
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	(Corporate Seal)
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	Authorized Representative:
	/s/
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Appendix 1
Scope of Service
1. Providing Party A with programs within its business scope;
2. Providing Party A’s employees with proper training, technical support and assistance, including without limitation training and technical support for education programs;
3. Providing Party A with administration and consulting services necessary for Party A’s business operations, including without limitation administration and consulting for education programs; and
4. Other arrangements relating to technology services subject to mutual consent.
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Appendix 2
The calculation and payment method of technical service fee
1. Party B shall provide Party A with bills in the light of the service price by mutual consent and the actual workload;
2. Party A shall pay the relevant service fee in accordance with the date and the amount prescribed by the bill;
3. Party A and Party B may make other arrangements relating to the payment of the service fee subject to mutual consent.Exhibit 4.68
Share Pledge Agreement
Between
Beijing BoheLe Science and Technology Co. Ltd.
And
Yao Xiang & Wang Yanting
July 20, 2021

This Share Pledge Agreement (this “Agreement”) is entered into by and among the following parties on July 20, 2021:
Pledgee: Beijing BoheLe Science and Technology Co. Ltd.
Legal Representative: Xuejun Xie
Principal Office: Room 1210, 12/F, Tower 1, Courtyard 54, Shijingshan Road, Shijingshan District, Beijing, China
Pledgor 1: Xiang Yao
ID number: 320502198906090518
Address: Room 202, Tower 28, Nanyuanxincun, Gusu District, Suzhou City, Jiangsu Province, China
Pledgor 2: Yanting Wang
ID number: 320583197906130421
Address: Room 302, Unit 217-2, Chaoyangxilu, Yushanzhen, Kunshan City, Jiangsu Province, China
(Pledgor 1 and Pledgor 2 are collectively referred to as “Pledgors”)
WHEREAS:
(1) Beijing BoheLe Science and Technology Co. Ltd. entered into Technology Service Agreement with Jinan LYZX Business Management Co., Ltd. (“Jinan LYZX”) and the companies and schools directly or wholly owned or controlled by Jinan LYZX (“Subsidiaries”) respectively on July 20, 2021;
(2) Pledgor 1 and Pledgor 2 are shareholders of Jinan LYZX. Pledgor 1 holds 70% equity interest in Jinan LYZX in RMB 70 thousand. Pledgor 2 holds 30% equity interest in Jinan LYZX in RMB 30 thousand;
(3) Pledgors agree to pledge all of their equity interests in Jinan LYZX to Pledgee as a security for Jinan LYZX and its Subsidiaries’ performance of their obligations under the Technology Service Agreement.
NOW THEREFORE, the Parties agree as follows after friendly consultations:
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1. Definitions
Unless otherwise specified herein, all of the following terms shall have the meanings defined below.
1.1 “Secured Debt” means the payment obligation and other relevant obligations to Pledgee assumed by Jinan LYZX and its Subsidiaries under the aforementioned Technology Service Agreement, liquidated damage and other relevant costs, and all costs (including attorney fees) and other amounts paid by Pledgee to realize Pledgee’s rights under the Technology Service Agreement in the event that Jinan LYZX and its Subsidiaries commit a breach. If Jinan LYZX controls new Subsidiaries by means of acquisition or incorporation or otherwise in the future and such new Subsidiaries enter into a new Technology Service Agreement with Pledgee, then such new Subsidiaries’ obligations under the new Technology Service Agreement will be automatically included in the “Secured Debt” herein.
1.2 “Pledged Equity” means the 100% equity of Jinan LYZX owned by Pledgors and all rights relating to such equity. With Pledgee’s prior consent, Pledgors may increase the capital of the company. The increment in the company’s registered capital as a result of Pledgors’ additional contributions shall also be deemed part of the pledge.
2. Equity Pledge
2.1 Each Pledgor hereby pledges the Pledged Equity to Pledgee (“Pledge”) as a security for the full discharge of the Secured Debt.
2.2 Pledgors undertake to Pledgee that Pledgors’ execution of this Agreement and performance of the obligations hereunder have been approved by the other shareholders of Jinan LYZX, and they will cause Jinan LYZX to record the equity pledge hereunder on the shareholders’ register of Jinan LYZX. Pledgors and Jinan LYZX shall deliver the shareholders’ register recording the equity pledge hereunder to Pledgee for safekeeping upon execution of this Agreement;
2.3 The Parties agree to register or cause to register the Pledge hereunder with the administrative authorities for industry and commerce in the place where Jinan LYZX is registered. The Pledge hereunder is established at the time when the Pledge is registered with the administrative authorities for industry and commerce in the place where Jinan LYZX is registered. Pledgors, Pledgee and Jinan LYZX shall promptly register the Pledge hereunder with the administrative authorities for industry and commerce upon execution of this Agreement. The Parties also acknowledge that, upon execution of this Agreement, the Parties will not raise any question or objection to the effectiveness of this Agreement because of failure to register the Pledge hereunder with the administrative authorities for industry and commerce in the place where Jinan LYZX is registered.
3. Scope of Security
The Pledged Equity hereunder offers security for:
3.1 The Secured Debt defined in Section 1.1 hereof; and
3.2 The costs paid by Pledgee to realize the pledge to which Pledgee is entitled hereunder.
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4. Term of Pledge
The term of valid existence of the pledge to which Pledgee is entitled hereunder is from the effective date of this Agreement to the date all Secured Debt is fully discharged (“Term of Pledge”). Pledgee shall exercise the pledge hereunder within the limitation of action for the Secured Debt.
5. Exercise of Pledge
5.1 If (a) Jinan LYZX and its Subsidiaries fail to perform their payment obligation or other related obligations to Pledgee in accordance with the provisions of the Technology Service Agreement, or (b) Pledgors breach their duties or obligations hereunder, Pledgee shall have the right to exercise the pledge in any manner at any time it deems appropriate to the extent permitted by applicable laws during the Term of Pledge, including without limitation:
5.1.1 To negotiate with Pledgors to discharge the Secured Debt with the Pledged Equity at a discount;
5.1.2 To sell off the Pledged Equity and use the proceeds thereof to discharge the Secured Debt;
5.1.3 To retain a relevant agency to auction all or part of the Pledged Equity; and/or
5.1.4 To otherwise dispose of the Pledged Equity appropriately to the extent permitted by applicable laws.
5.2 In the course of Pledgee’s disposal of the Pledged Equity as specified in the preceding section, Pledgee shall have the right to take any actions permitted by law to realize any of its rights hereunder.
5.3 As requested by Pledgee, Pledgors shall assist Pledgee in obtaining all necessary approvals or consents in connection with Pledgee’s realization of its rights to debt and pledge.
5.4 All amounts received due to Pledgee’s exercise of its pledge shall be used in the following order of priority subject to the other provisions hereof:
5.4.1 First, such amounts shall be used to pay all taxes and costs incurred by Pledgee because of its exercise of the pledge and/or other rights hereunder;
5.4.2 Second, such amounts shall be used by Pledgee to discharge the Secured Debt according to law;
5.4.3 If there is any balance after the discharge of the Secured Debt, such balance shall be paid to Pledgors or anyone who is entitled to such balance (without interest).
6. Termination of Pledge
6.1 The pledge shall be terminated automatically upon termination of the Technology Service Agreement and full discharge of the Secured Debt. In such case, as requested by Pledgors, Pledgee shall sign a written document to terminate the equity pledge created hereunder and submit such document to Pledgors, or assist Pledgors in handling other procedures for terminating the equity pledge hereunder.
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6.2 Subject to the provisions in the preceding paragraph, the equity pledge hereunder shall not be terminated without Pledgee’s prior written consent.
7. Nature of Security
7.1 The security created hereunder shall not be affected by any other security held by Pledgee for the Secured Debt, and shall not affect the effectiveness of any other security.
7.2 The security created hereunder and Pledgee’s rights hereunder shall not be terminated or affected due to the following circumstances:
7.2.1 Any grace, termination or relief granted by Pledgee in connection with any person’s debt;
7.2.2 Any amendment, modification or supplement to the Technology Service Agreement;
7.2.3 Any disposal, modification or termination of any other security in connection with the Secured Debt;
7.2.4 Pledgee reaches a settlement with any person in connection with any claims of such person;
7.2.5 Any delay, act or omission of Pledgee in the exercise of its rights;
7.2.6 Any other event that may affect Pledgors’ obligations hereunder.
8. Special Provisions
8.1 Without Pledgee’s prior written consent, Pledgors shall not transfer any of its rights or obligations hereunder to any other party.
8.2 Pledgee shall have the right to transfer to any third party any of its rights or obligations hereunder and any of its rights or obligations under other agreements contemplated by this Agreement without Pledgor’s prior consent. In such case, Pledgors must unconditionally cooperate with Pledgee in handling the procedures for the transfer of relevant rights and obligations, including without limitation signing an agreement on the change of the relevant contractual party and re-registering the equity pledge with the administrative authorities for industry and commerce.
8.3 Upon effectiveness of this Agreement, unless Pledgee makes a written decision to the contrary and notify Pledgors of such decision, Pledgors shall be obligated to continue to observe legal requirements relating to the Pledged Equity and perform all rights and obligations in connection with the Pledged Equity, and perform the due care and good faith obligations that a shareholder shall perform.
8.4 Pledgors shall promptly notify Pledgee of any event that may affect the Pledged Equity or the value thereof, or that may impede, prejudice or delay Pledgee’s performance of its rights as a shareholder of Jinan LYZX. Each of Pledgors hereby agrees to sign a power of attorney (“Attorney-in-fact”) on the even date herewith, appointing Beijing BoheLe Science and Technology Co. Ltd. as his or her initial attorney-in-fact to: (i) exercise all voting rights it enjoys as a shareholder of Jinan LYZX , and (ii) sign on behalf of such Pledgor any resolutions adopted by the shareholders’ meetings of Jinan LYZX, and any other documents that are related to such Pledgor’s performance of his or her rights as a shareholder
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of Jinan LYZX. The attorney-in-fact shall perform its duties in good faith, aiming to maximize the value of the Pledged Equity hereunder, and its acts shall be in compliance with applicable Chinese laws in all respects. The form of the initial Power of Attorney to be signed by each Pledgor is set forth in Appendix 1 attached hereto.
8.5 During the term of pledge, Pledgee shall have the right to collect any yield on the Pledged Equity.
8.6 Without Pledgee’s prior written consent, each Pledgor shall not perform any of the following acts:
8.6.1 Making a proposal to amend the articles of association of Jinan LYZX or causing the making of such proposal; increasing or reducing its registered capital, or otherwise change its registered capital structure;
8.6.2 Creating any further security, encumbrances and any third party’s rights on the Pledged Equity in addition to the pledge created hereunder;
8.6.3 Performing any act that may prejudice any rights of Pledgee hereunder, or any act that may materially affect the assets, business and/or operations of Jinan LYZX;
8.6.4 Distributing dividends to the shareholders in any form; however, upon Pledgee’s request, Pledgors shall immediately distribute all of its distributable profits to the shareholders.
8.7 Without Pledgee’s prior written consent, each Pledgor shall not transfer or dispose of the Pledged Equity in any way.
8.8 Pledgors agree to take other necessary actions and enter into other necessary agreements to give effect to the provisions hereof and other agreements contemplated hereby.
9. Representations, Undertakings and Warranties
9.1 Each Pledgor hereby represents, undertakes and warrants to Pledgee that:
9.1.1 Each Pledgor has the lawful eligibility and necessary authority to enter into this Agreement and has the capacity to fully perform any of his or her rights hereunder;
9.1.2 Each Pledgor has the sole ownership of the Pledged Equity and has lawful, complete and full ownership of the his or her pledged equity hereunder;
9.1.3 Except the pledge created hereunder, each Pledgor has not created or allowed the creation of any security rights or any third party’s rights or encumbrances on the Pledged Equity without Pledgee’s prior written consent; there is no dispute over the ownership of such Pledged Equity, which is not subject to any lien or other legal proceedings and can be used for pledge or transfer in accordance with applicable laws;
9.1.4 There is no existing, pending or threat of legal proceedings, arbitrations or administrative proceedings against the Pledged Equity;
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9.1.5 Pledgor’s execution of this Agreement, exercise of his or her rights hereunder, or performance of his or her obligations hereunder will not violate any agreements, contracts or laws and regulations applicable to Pledgor and his or her property;
9.1.6 Upon execution of this Agreement, Pledgors shall promptly register the equity pledge hereunder with the administrative authorities for industry and commerce to cause the effective creation of the equity pledge; the pledge created hereunder shall constitute valid security for the secured Debt after the registration procedures are completed, which can be executed on its terms;
9.1.7 All documents delivered by Pledgors to Pledgee in connection with this Agreement are true, complete and correct in all material respects, and there is no omission that may cause any information therein to become incorrect or misleading in any material respect;
9.1.8 This Agreement shall constitute a legal, valid and binding obligation of Pledgors, and may be enforced in accordance with the application of Pledgee to competent authorities under this Agreement;
9.1.9 From the date of this Agreement to the expiration of the term of pledge, Pledgors shall not transfer or dispose of any part or all of the interests in the Pledged Equity to any third party without Pledgee’s prior written consent;
9.2 Pledgee hereby represents, undertakes and warrants to Pledgors that:
9.2.1 Pledgee is a limited liability company duly established and validly existing, and has the authority to enter into this Agreement and is able to perform its obligations hereunder;
9.2.2 Pledgee has obtained all authorities and consents necessary for the execution and performance of this Agreement.
10. Liability for Breach
10.1 Either Party’s direct or indirect violation of any provisions hereof or failure to assume its obligations hereunder or failure to assume such obligations in a timely and adequate manner shall constitute breach of this Agreement. The non-breaching Party (“Non-Breaching Party”) shall have the right to require the breaching Party (“Breaching Party”) by written notice to redress its breach and take adequate, effective and timely measures to eliminate the consequences of such breach, and indemnify against the losses incurred by the Non-Breaching Party due to the breach of the Breaching Party.
10.2 After the occurrence of the breach, if, according to the reasonable and objective judgment of the Non-Breaching Party, such breach has made it impossible or unfair for the Non-Breaching Party to perform its relevant obligations hereunder, then the Non-Breaching Party shall have the right to notify the Breaching Party in writing that the Non-Breaching Party will suspend the performance of its relevant obligations hereunder until the Breaching Party ceases such breach and takes adequate, effective and timely measures to eliminate the consequences of such breach, and indemnify against the losses incurred by Non-Breaching Party due to the breach.
10.3 The losses incurred by the Non-Breaching Party which shall be indemnified against by the Breaching Party due to its breach are the direct economic losses incurred by the Non-Breaching Party
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due to the Breaching Party’s breach and any expectable indirect losses and additional costs, including without limitation attorney fees, litigation and arbitration costs, financial costs and travel expenses, etc.
11. Force Majeure
11.1 “Force Majeure” means any event that is beyond the reasonable control of any or all Parties hereto, unable to be foreseen or unable to be overcome even foreseen, which impedes, affects or delays any party’s performance of all or part of its obligations under this Agreement. Such event includes without limitation any government act, act of God, war, hacker attack or any other similar event.
11.2 The Party affected by a Force Majeure event may suspend the performance of its relevant obligations hereunder that cannot be performed due to the Force Majeure until the effect of such Force Majeure event is eliminated, and shall not be held liable for such suspension. However, such Party shall use its best endeavor to overcome such event and mitigate its negative effect.
11.3 The Party affected by a Force Majeure event shall provide the other Parties with a legitimate certificate issued by a notary public (or other proper agency) in the place where such event occurs to evidence the occurrence of such Force Majeure event. If such Party cannot provide such certificate, the other Parties may hold such Party liable for breach in accordance with the provisions hereof.
12. Effectiveness and Termination
12.1 This Agreement shall come into effect after it has been duly executed by Pledgors and Pledgee. The pledge hereunder is established after the registration specified in Section 2.3 is completed.
12.2 This Agreement shall be terminated under any of the following circumstances:
12.2.1 in accordance with Section 6 hereof;
12.2.2 by mutual agreement of Pledgee and Pledgors;
12.2.3 by the consent of Pledgee.
12.3 The termination of this Agreement shall not affect the Parties’ rights and obligations arising hereunder prior to the expiration date of this Agreement.
13. Dispute Resolution
13.1 If any dispute arises between the Parties in connection with the interpretation and performance of the provisions hereunder, the Parties shall resolve such dispute in good faith through discussions. If no agreement can be reached within sixty (60) days after one Party receives the notice of the other Party requesting the beginning of discussions or as otherwise agreed, either Party shall have the right to submit such dispute to The China Arbitration Association for arbitration in accordance with its then effective rules. The arbitration shall be held in Beijing. The award of the arbitration shall be final and binding upon the Parties.
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13.2 If any dispute arises in connection with the interpretation and performance of this Agreement, or such dispute is under arbitration, either Party shall continue to have the rights hereunder other than those in dispute and perform the obligations hereunder other than those in dispute.
13.3 The conclusion, effectiveness, enforcement and interpretation of this Agreement shall be governed by the law of China.
14. Miscellaneous
14.1 The headings herein are for convenience only, and shall not affect the interpretation of any provisions hereof.
14.2 The Parties may amend and supplement this Agreement by written agreement. Any amendments or supplements executed by the Parties, if any, are part of this Agreement, and shall have the same force and effect as this Agreement.
14.3 If any provision herein becomes partly or wholly invalid or unenforceable for violation of laws or government regulations or other reasons, then the part of such provision that is affected shall be deemed as deleted. However, the deletion of such part of such provision shall not affect the legal effect of other parts of such provision or the other provisions herein. The Parties shall cease to execute such invalid or unenforceable provision, and modify such provision so that it has the closest intent to the original provision and becomes valid and enforceable in connection with such facts and circumstances.
14.4 Unless otherwise provided herein, either Party’s failure to exercise or delay in exercising any of its rights or powers hereunder shall not be construed as a waiver of such rights or powers. Any single or partial exercise of any rights or powers shall not preclude the exercise of other rights or powers.
14.5 This Agreement shall be binding upon the Parties and their respective successors and permitted assigns. Pledgee shall have the right to transfer to any other third party the rights hereunder and other agreements contemplated hereby at its sole discretion without Pledgors’ consent.
IN WITNESS WHEREOF, the duly authorized representatives of the Parties have executed this Agreement on the date first above written.
Pledgee:
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	Beijing BoheLe Science and Technology Co. Ltd.
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	(Corporate Seal)
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	Authorized Representative:
	/s/
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	Pledgors:
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	Signature:
	/s/
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	Xiang Yao
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	Signature:
	/s/
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	Yanting Wang
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