Document:

Exhibit 10.7

 

Execution Version

 

AMENDED AND RESTATED

 

CONVERTIBLE NOTE PURCHASE AGREEMENT

 

This AMENDED AND RESTATED
CONVERTIBLE NOTE PURCHASE AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”),
dated as of June 28, 2018, is entered into by and between Seven Stars Cloud Group, Inc., a corporation incorporated under the laws
of Nevada (the “Company”), and Advantech Capital Investment II Limited, an exempted company incorporated and
existing under the laws of the Cayman Islands (the “Purchaser”).

 

WITNESSETH:

 

WHEREAS, the Company
desires to issue to the Purchaser, and the Purchaser has agreed to purchase from the Company, the Note (as defined below), subject
to the terms and conditions set forth herein and in the Note.

 

WHEREAS, a Convertible
Note Purchase Agreement (the “Prior Agreement”), dated June 21, 2018, was enter into by and between the Company
and the Purchaser.

 

NOW, THEREFORE, in
consideration of the respective undertakings stated herein, and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the Prior Agreement is hereby amended and restated in its entirety to read as follows:

 

1.           DEFINITIONS.
Whenever used herein, unless the context otherwise requires, the following words and phrases shall have the following meanings:

 

“Affiliate”
of any specified Person shall mean any other Person directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person. For the purposes of this definition, “control”, when used with respect to
any specified Person shall mean the power to direct the management and policies of such Person, directly or indirectly, whether
through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled”
have meanings correlative to the foregoing.

 

“Agreement”
shall have the meaning given to such term in the preamble.

 

“Board”
shall mean the board of directors of the Company.

 

“Business
Day” shall mean any day that is not a Saturday, a Sunday or other day on which banking institutions in the State of New
York, PRC, Hong Kong or the Cayman Islands are required by law to be closed.

 

“Claim Notice”
shall have the meaning specified in Section 6.2(a) of this Agreement.

 

“Closing”
shall have the meaning specified in Section 2.2 of this Agreement.

 

“Closing Date”
shall have the meaning specified in Section 2.2 of this Agreement.

 

    	 	1	 

     

    

 

“Common Stock”
means any share of common stock of the Company.

 

“Company”
shall have the meaning specified in the preamble to this Agreement.

 

“Conversion
Price” shall mean a per share price equal to $1.82 of the Common Stock, as adjusted in accordance with the conditions
in the Note.

 

“Conversion
Shares” shall have the meaning specified in the Note.

 

“Dispute”
shall have the meaning specified in Section 7.2 of this Agreement.

 

“Group Company”
means the Company, its subsidiaries and any other Person that is directly or indirectly controlled by the Company, including its
consolidated variable interest entities.

 

“Hong Kong”
shall mean the Hong Kong Special Administrative Region of the PRC.

 

“Indemnified
Party” shall have the meaning specified in Section 6.1 of this Agreement.

 

“Indemnifying
Party” shall have the meaning specified in Section 6.1 of this Agreement.

 

“Indemnity
Notice” shall have the meaning specified in Section 6.3 of this Agreement.

 

“Losses”
shall have the meaning specified in Section 6.1 of this Agreement.

 

“Material
Adverse Effect” shall mean any event, fact, circumstance or occurrence that, individually or in the aggregate with any
other events, facts, circumstances or occurrences, results in or would reasonably be expected to result in a material adverse change
in or a material adverse effect on (i) the financial condition, assets, liabilities, results of operations, business, prospects
or operations of the Company or its subsidiaries taken as a whole, except to the extent that any such Material Adverse Effect results
from (x) changes in generally accepted accounting principles that are generally applicable to comparable companies or (y) changes
in general economic and market conditions in the PRC; or (ii) the ability of the Company to consummate the transactions contemplated
by this Agreement.

 

“Maturity
Date” shall have the meaning specified in the Note.

 

“Note”
shall mean the promissory note issued by the Company to the Purchaser pursuant to Article 2 below, substantially in the
form of 0 hereto.

 

“Person”
shall mean any natural person, firm, corporation, limited liability company, partnership, joint venture, association, joint-stock
company, trust, unincorporated organization, governmental authority or any other legal entity, including public bodies, whether
acting in an individual, fiduciary or other capacity.

 

“PRC”
shall mean the People’s Republic of China, excluding, for the purpose of this Agreement, Hong Kong, the Macau Special Administrative
Region and Taiwan.

 

“Principal
Amount” shall mean US$12,000,000.

 

    	 	2	 

     

    

 

“Purchaser”
shall have the meaning specified in the preamble to this Agreement.

 

“Regulation
S” shall have the meaning specified in Section 3.7 of this Agreement.

 

“Securities
Act” shall mean the United States Securities Act of 1933, as amended.

 

“Third Party
Claim” shall have the meaning specified in Section 6.2(a) of this Agreement.

 

“US$”
and “U.S. dollar” shall mean the lawful currency for the time being of the United States of America.

 

2.            NOTE.

 

2.1       Issuance
of the Note. Subject to the satisfaction of terms and conditions of this Agreement, at the Closing (as defined below), the
Company agrees to issue to the Purchaser and the Purchaser hereby agrees to purchase from the Company, the Note, in the amount
of the Principal Amount.

 

2.2       Closing.
Subject to Sections 2.4 and 2.5 of this Agreement, the closing of the issuance and purchase of the Note (the “Closing”)
shall take place remotely via the exchange of documents and signatures, on a date specified by the parties herein upon the fulfillment
of the conditions to the closing as set forth in Section 2.4 and 2.5 or at such other place and time as the Company
and the Purchaser may mutually agree. The date and time of the Closing are referred to herein as the “Closing Date.”

 

2.3       Payment
and Delivery. At the Closing, the Purchaser shall pay and deliver to the Company an amount equal to the Principal Amount in
U.S. dollars by wire transfer, or by such other method mutually agreeable to the Company and the Purchaser, of immediately available
funds to such bank account designated in writing by the Company, such that the payment shall have been delivered and made available
to such bank account upon the Closing. The Company shall deliver to the Purchaser the duly executed Note dated the Closing Date,
free and clear of encumbrances.

 

2.4       Conditions
to the Purchaser’s Obligations to Effect the Closing. The obligation of the Purchaser to purchase the Note at the Closing
is subject to the satisfaction, on or before the Closing Date, of the following conditions, any of which may be waived in writing
by the Purchaser in its sole discretion:

 

(a)       All
corporate and other actions required to be taken by the Company in connection with the execution and performance of this Agreement
and the issuance, sale and delivery of the Note shall have been completed; and the Company shall have delivered a copy of its board
resolutions and/or the shareholder resolutions (as applicable) approving the execution and performance of this Agreement and the
issuance, sale and delivery of the Note;

 

(b)       The
representations and warranties of the Company to the Purchaser contained in Article 3 of this Agreement shall have been
true and correct on the date of this Agreement and true and correct in all material respects as of the Closing Date, and the Company
shall have performed and complied in all material respects with all, and not be in breach or default in any material respects
under any, agreements, covenants, conditions and obligations contained in this Agreement that are required to be performed or
complied with on or before the Closing Date;

 

    	 	3	 

     

    

 

(c)       No
governmental authority of competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any law (whether
temporary, preliminary or permanent) that is in effect and restrains, enjoins, prevents, prohibits or otherwise makes illegal the
consummation of the transactions contemplated by this Agreement with respect to the Purchaser, or imposes any damages or penalties
in connection with the transactions contemplated by this Agreement with respect to the Purchaser that are substantial in relation
to the Company; and no action, suit, proceeding or investigation shall have been instituted by a governmental authority of competent
jurisdiction or threatened that seeks to restrain, enjoin, prevent, prohibit or otherwise make illegal the consummation of the
transactions contemplated by this Agreement with respect to the Purchaser, or imposes any damages or penalties in connection with
the transactions contemplated by this Agreement with respect to the Purchaser that are substantial in relation to the Company;

 

(d)       The
Company and the Purchaser shall have entered into a registration rights agreement in form and substance satisfactory to the Purchaser
(the “Registration Rights Agreement”);

 

(e)       The
Purchaser shall have completed its legal, financial, management, technology and business due diligence investigation of the Group
Companies to its satisfaction; and

 

(f)       The
Purchaser has received legal opinions issued by the U.S. counsel to the Group Company, dated the Closing Date, in form and substance
satisfactory to the Purchaser.

 

2.5       Conditions
to the Company’s Obligations to Effect the Closing. The obligation of the Company to issue the Note at the Closing is
subject to the satisfaction, or waiver by the Company, of each of the following conditions, upon or before the Closing:

 

(a)       All
corporate and other actions required to be taken by the Purchaser in connection with the purchase of the Note shall have been completed;

 

(b)       The
representations and warranties of the Purchaser contained in Article 4 of this Agreement shall have been true and correct
on the date of this Agreement and in all material respects as of the Closing Date, and the Purchaser shall have performed and
complied in all material respects with all, and not be in breach or default in any material respect under any agreements, covenants,
conditions and obligations contained in this Agreement that are required to be performed or complied with on or before the Closing
Date; and

 

(c)       No
governmental authority of competent jurisdiction shall have enacted, issued, promulgated, enforced or entered any law (whether
temporary, preliminary or permanent) that is in effect and restrains, enjoins, prevents, prohibits or otherwise makes illegal the
consummation of the transactions contemplated by this Agreement with respect to the Purchaser, or imposes any damages or penalties
in connection with the transactions contemplated by this Agreement with respect to the Purchaser that are substantial in relation
to the Company; and no action, suit, proceeding or investigation shall have been instituted by a governmental authority of competent
jurisdiction or threatened that seeks to restrain, enjoin, prevent, prohibit or otherwise make illegal the consummation of the
transactions contemplated by this Agreement with respect to the Purchaser, or imposes any damages or penalties in connection with
the transactions contemplated by this Agreement with respect to the Purchaser that are substantial in relation to the Company.

 

    	 	4	 

     

    

 

3.           REPRESENTATIONS
AND WARRANTIES OF THE COMPANY. The Company hereby represents and warrants to the Purchaser the following:

 

3.1       Due
Formation. The Company is a company duly incorporated as a corporation, validly existing and in good standing under the laws
of the State of Nevada, USA. The Company has all requisite power and authority to carry on its business as it is currently being
conducted.

 

3.2       Authority.
The Company has full power and authority to enter into, execute and deliver this Agreement and each agreement, certificate, document
and instrument to be executed and delivered by the Company pursuant to this Agreement and to perform its obligations hereunder.
The execution and delivery by the Company of this Agreement and any agreements, certificates, documents and instruments to be executed
and delivered by the Company pursuant to this Agreement, and the performance by the Company of its obligations hereunder, have
been duly authorized by all requisite actions on its part.

 

3.3       Valid
Agreement. This Agreement has been duly executed and delivered by the Company and constitutes the legal, valid and binding
obligation of the Company, enforceable against the Company in accordance with its terms, except (i) as limited by applicable bankruptcy,
insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors’ rights
generally, and (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable
remedies.

 

3.4       Valid
Issuance of the Note and the Conversion Shares. The Common Stock issuable upon conversion of the Note has been duly authorized
and reserved. The Note and the Conversion Shares to be issued, sold and delivered upon conversion of the Note will be duly and
validly issued and fully paid, and based in part upon the representations and warranties of the Purchaser in this Agreement, will
be issued in compliance with all applicable federal and state securities laws.

 

3.5       Noncontravention.
Neither the execution and the delivery of this Agreement, nor the consummation of the transactions contemplated hereby, will (i)
violate any provision of the organizational documents of the Company or violate any constitution, statute, regulation, rule, injunction,
judgment, order, decree, ruling, charge, or other restriction of any government, governmental entity or court to which the Company
is subject, or (ii) conflict with, result in a breach of, constitute a default under, result in the acceleration of or creation
of an encumbrance under, or create in any party the right to accelerate, terminate, modify, or cancel, any agreement, contract,
lease, license, instrument, or other arrangement to which the Company is a party or by which the Company is bound or to which any
of the Company’s assets are subject. There is no action, suit or proceeding, pending or threatened against the Company that
questions the validity of this Agreement or the right of the Company to enter into this Agreement or to consummate the transactions
contemplated hereby.

 

    	 	5	 

     

    

 

3.6       Consents
and Approvals. Neither the execution and delivery by the Company of this Agreement, nor the consummation by the Company of
any of the transactions contemplated hereby, nor the performance by the Company of this Agreement in accordance with its terms
requires the consent, approval, order or authorization of, or registration with, or the giving notice to, any governmental or public
body or authority or any third party, except such as have been or will have been obtained, made or given on or prior to the Closing
Date.

 

3.7       Securities
Laws. Assuming the accuracy of the representations and warranties of the Purchaser in this Agreement, (a) no directed selling
efforts into the United States (as defined in Rule 902 of Regulation S under the Securities Act (“Regulation S”))
have been made by the Company, any of its affiliates, or any person acting on its behalf with respect to the Note, and (b) none
of such persons has taken any actions that would result in the sale of the Note to the Purchaser under this Agreement requiring
registration under the Securities Act.

 

3.8       Events
Subsequent to Most Recent Fiscal Period. Since January I, 2018 until the date hereof and to the Closing Date, there has not
been any event, fact, circumstance or occurrence that has had or would reasonably be expected to have a Material Adverse Effect.

 

4.           REPRESENTATIONS
AND WARRANTIES OF THE PURCHASER. The Purchaser hereby represents and warrants to the Company the following:

 

4.1       Due
Formation. The Purchaser is duly formed, validly existing and in good standing in the jurisdiction of its organization. The
Purchaser has all requisite power and authority to carry on its business as it is currently being conducted.

 

4.2       Authority.
The Purchaser has full power and authority to enter into, execute and deliver this Agreement and each agreement, certificate, document
and instrument to be executed and delivered by the Purchaser pursuant to this Agreement and to perform its obligations hereunder.
The execution and delivery by the Purchaser of this Agreement and any agreements, certificates, documents and instruments to be
executed and delivered by the Purchaser pursuant to this Agreement, and the performance by the Purchaser of its obligations hereunder
have been duly authorized by all requisite actions on its part.

 

4.3       Valid
Agreement. This Agreement has been duly executed and delivered by the Purchaser and constitutes the legal, valid and binding
obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms, except (i) as limited by applicable
bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors’
rights generally, and (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other
equitable remedies.

 

4.4       Noncontravention.
Neither the execution and the delivery of this Agreement, nor the consummation of the transactions contemplated hereby, will (i)
violate any provision of the organizational documents of the Purchaser or violate any constitution, statute, regulation, rule,
injunction, judgment, order, decree, ruling, charge, or other restriction of any government, governmental entity or court to which
the Purchaser is subject, or (ii) conflict with, result in a breach of, constitute a default under, result in the acceleration
of or creation of an encumbrance under, or create in any party the right to accelerate, terminate, modify, or cancel, any agreement,
contract, lease, license, instrument, or other arrangement to which the Purchaser is a party or by which the Purchaser is bound
or to which any of the Purchaser’s assets are subject, in each case of the foregoing (i) and (ii), in such a manner that
would materially and adversely affect the Purchaser’s ability to consummate the transactions contemplated hereby. There is
no action, suit or proceeding, pending or threatened against the Purchaser that questions the validity of this Agreement or the
right of the Purchaser to enter into this Agreement or to consummate the transactions contemplated hereby.

 

    	 	6	 

     

    

 

4.5       Consents
and Approvals. Neither the execution and delivery by the Purchaser of this Agreement, nor the consummation by the Purchaser
of any of the transactions contemplated hereby, nor the performance by the Purchaser of this Agreement in accordance with its terms
requires the consent, approval, order or authorization of, or registration with, or the giving notice to, any governmental or public
body or authority or any third party, except such as have been or will have been obtained, made or given on or prior to the Closing
Date.

 

4.6       Investment
Intent. The Purchaser is purchasing the Note solely for its own account for investment and not with a view to or for sale in
connection with any distribution of the Note or any portion thereof and not with any present intention of selling, offering to
sell or otherwise disposing of or distributing the Note or any portion thereof in any transaction. The entire legal and beneficial
interest of the Note is being purchased, and will be held, for the Purchaser’s account only, and neither in whole or in part
for any other Person.

 

4.7       Regulation
S Eligibility; Restriction on Resale. The Purchaser acknowledges that the Purchaser is acquiring the Note in an offshore transaction
in reliance upon the exemption from registration provided by Regulation S. The Purchaser is not a U.S. person as defined in Rule
902 of Regulation S and is located outside of the United States. The Purchaser understands that the Note to be purchased by the
Purchaser has not been registered under the Securities Act and may not be offered or sold within the United States or to, or for
the account or benefit of, a U.S. person except pursuant to an exemption from, or in a transaction not subject to the registration
requirements under the Securities Act.

 

4.8       Experience.
The Purchaser has sufficient knowledge and experience in financial and business matters so as to be capable of evaluating the merits
and risks of its investment in its Purchased Shares. The Purchaser is capable of bearing the economic risks of such investment,
including a complete loss of its investment.

 

5.           COVENANTS.

 

5.1       Use
of Proceeds. The Company shall use the proceeds from the Issuance of the Note for general corporate purposes and shall not
be used to repay any shareholders loans.

 

5.2       Other
Convertible Note Offering. Without the Purchaser’s prior written consent, the Company shall not issue or agree to issue
to any Person any convertible note or instrument similar to the Note that is dated as at any date during the period starting from
the date hereof and ending on a date that is 180 days after the Closing Date, with an aggregate principal amount exceeding US$40
million (including the Principal Amount).

 

    	 	7	 

     

    

 

5.3       Further
Assurances. From the date of this Agreement to the Closing Date, the Company and the Purchaser shall use their reasonable best
efforts to fulfill or obtain the fulfillment of the conditions precedent to the consummation of the transactions contemplated hereby.

 

6.           INDEMNIFICATION.

 

6.1       Indemnification.
The Company (an “Indemnifying Party”) shall indemnify and hold the Purchaser and its directors, officers, employees,
advisors and agents (collectively, the “Indemnified Party”) harmless from and against any losses, claims, damages,
fines, expenses and liabilities of any kind or nature whatsoever, including but not limited to any investigative, legal and other
expenses incurred in connection with, and any amounts paid in settlement of, any pending or threatened legal action or proceeding,
and any taxes or levies that may be payable by such person by reason of the indemnification of any indemnifiable loss hereunder
(collectively, “Losses”) resulting from or arising out of: (a) the breach of any representation or warranty
of such Indemnifying Party contained in this Agreement or in any schedule or exhibit hereto; or (b) the violation or nonperformance,
partial or total, of any covenant or agreement of such Indemnifying Party contained in this Agreement for reasons other than gross
negligence or willful misconduct of such Indemnified Party. In calculating the amount of any Losses of an Indemnified Party hereunder,
there shall be subtracted the amount of any insurance proceeds and third-party payments received by the Indemnified Party with
respect to such Losses, if any.

 

6.2       Third
Party Claims.

 

(a)       If
any third party shall notify any Indemnified Party in writing with respect to any matter involving a claim by such third party
(a “Third Party Claim”) which such Indemnified Party believes would give rise to a claim for indemnification
against the Indemnifying Party under this Article 6, then the Indemnified Party shall promptly (i) notify the Indemnifying
Party thereof in writing within thirty (30) days of receipt of notice of such claim and (ii) transmit to the Indemnifying Party
a written notice (“Claim Notice”) describing in reasonable detail the nature of the Third Party Claim, a copy
of all papers served with respect to such claim (if any), and the basis of the Indemnified Party’s request for indemnification
under this Agreement.

 

(b)       Upon
receipt of a Claim Notice with respect to a Third Party Claim, the Indemnifying Party shall have the right to assume the defense
of any Third Party Claim by, within thirty (30) days of receipt of the Claim Notice, notifying the Indemnified Party in writing
that the Indemnifying Party elects to assume the defense of such Third Party Claim, and upon delivery of such notice by the Indemnifying
Party, the Indemnifying Party shall have the right to fully control and settle the proceeding, provided, that, any such
settlement or compromise shall be permitted hereunder only with the written consent of the Indemnified Party.

 

(c)       If
requested by the Indemnifying Party, the Indemnified Party shall, at the sole cost and expense of the Indemnifying Party, cooperate·
with the Indemnifying Party and its counsel in contesting any Third Party Claim which the Indemnifying Party elects to contest,
including the making of any related counterclaim against the person asserting the Third Party Claim or any cross complaint against
any person. The Indemnified Party shall have the right to receive copies of all pleadings, notices and communications with respect
to any Third Party Claim, other than any privileged communications between the Indemnifying Party and its counsel, and shall be
entitled, at its sole cost and expense, to retain separate co-counsel and participate in, but not control, any defense or settlement
of any Third Party Claim assumed by the Indemnifying Party pursuant to Section 6.2(b) of this Agreement.

 

    	 	8	 

     

    

 

(d)       In
the event of a Third Party Claim for which the Indemnifying Party elects not to assume the defense or fails to make such an election
within the thirty (30) days of the Claim Notice, the Indemnified Party may, at its option, defend, settle, compromise or pay such
action or claim at the expense of the Indemnifying Party; provided, that, any such settlement or compromise shall be permitted
hereunder only with the written consent of the Indemnifying Party, which consent shall not be unreasonably withheld or delayed.

 

6.3       Other
Claims. In the event any Indemnified Party should have a claim against the Indemnifying Party hereunder which does not involve
a Third Party Claim, the Indemnified Party shall promptly transmit to the Indemnifying Party a written notice (the “Indemnity
Notice”) describing in reasonable detail the nature of the claim, the Indemnified Party’s best estimate of the
amount of Losses attributable to such claim and the basis of the Indemnified Party’s request for indemnification under this
Agreement. If the Indemnifying Party does not notify the Indemnified Party within thirty (30) days from its receipt of the Indemnity
Notice that the Indemnifying Party disputes such claim, the Indemnifying Party shall be deemed to have accepted and agreed with
such claim.

 

7.           MISCELLANEOUS.

 

7.1       Survival
of the Representations and Warranties. All representations and warranties made by any party hereto shall survive for eighteen
(18) months and shall terminate and be without further force or effect on the date that is eighteen (18) months from the date hereof,
except as to any claims thereunder which have been asserted in writing pursuant to Section 6.1 against the party making
such representations and warranties on or prior to such date that is eighteen (18) months from the date hereof.

 

7.2       Governing
Law; Arbitration. This Agreement shall be governed and interpreted in accordance with the laws of New York without giving effect
to the conflicts of law principles thereof. Any dispute arising out of or relating to this Agreement, including any question regarding
its existence, validity or termination (“Dispute”) shall be referred to and finally resolved by arbitration
at the Hong Kong International Arbitration Centre in accordance with the Hong Kong International Arbitration Centre Administered
Arbitration Rules then in force. There shall be three arbitrators. Each Party has the right to appoint one arbitrator and the third
arbitrator shall be appointed by the Hong Kong International Arbitration Centre. The language to be used in the arbitration proceedings
shall be English. The seat of arbitration shall be Hong Kong. Each of the Parties irrevocably waives any immunity to jurisdiction
to which it may be entitled or become entitled (including without limitation sovereign immunity, immunity to pre-award attachment,
post-award attachment or otherwise) in any arbitration proceedings and/or enforcement proceedings against it arising out of or
based on this Agreement or the transactions contemplated hereby.

 

7.3       Amendment.
This Agreement shall not be amended, changed or modified, except by another agreement in writing executed by the parties hereto.

 

    	 	9	 

     

    

 

7.4       Binding
Effect. This Agreement shall inure to the benefit of, and be binding upon, the Purchaser, the Company, and their respective
heirs, successors and permitted assigns.

 

7.5       Assignment.
Neither this Agreement nor any of the rights, duties or obligations hereunder may be assigned by the Company or the Purchaser without
the express written consent of the other Party, except that the Purchaser may assign or pledge all or any part of its rights and
obligations hereunder and under the Note to any Affiliate of the Purchaser, without the consent of the Company, provided that no
such assignment shall relieve the Purchaser of its obligations hereunder if such assignee does not perform such obligations. Any
purported assignment in violation of the foregoing sentence shall be null and void.

 

7.6       Notices.
All notices, requests, demands, and other communications under this Agreement shall be in writing and shall be deemed to have been
duly given on the date of actual delivery if delivered personally to the party hereto to whom notice is to be given, on the date
sent if sent by telecopier, tested telex or prepaid telegram, on the next business day following delivery to Federal Express properly
addressed or on the day of attempted delivery by the U.S. Postal Service if mailed by registered or certified mail, return receipt
requested, postage paid, and properly addressed as follows:

 

	If to the Company, at:	Seven Stars Cloud Group, Inc.
	 	No. 4 Drive-in Movie Theater Park, No. 21
	 	Liangmaqiao Road, Chaoyang District, Beijing,
	 	P.R.C.  100125
	 	Attn: Legal Department
	 	Telecopy: 86+10-8586-2775
	 	 
	 	With a copy to:
	 	Seven Stars Cloud Group, Inc.
	 	55 Broadway, 19th Floor
	 	New York, NY 10006
	 	Attn: President
	 	Telecopy: 86+10-8586-2775
	 	 
	If to the Purchaser, at:	190 Elgin Avenue, George Town, Grand Cayman KY
	 	1-9005, Cayman Islands
	 	 
	 	With a copy to:
	 	Suite 1702-03, One Exchange Square, 8 Connaught
	 	Place, Central, Hong Kong
	 	Phone +852 2801 6988
	 	Fax: +852 28014882
	 	Attn: Finance Department

 

Any party hereto may
change its address for purposes of this Section 7.6 by giving the other Party written notice of the new address in the manner
set forth above.

 

7.7     Entire Agreement.
This Agreement constitutes the entire understanding and agreement between the parties with respect to the matters covered hereby,
and all prior agreements and understandings, oral or in writing, if any, between the parties with respect to the matters covered
hereby are merged and superseded by this Agreement. The Prior Agreement shall terminate immediately after the execution this Agreement.

 

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7.8       Severability.
If any provisions of this Agreement shall be adjudicated to be illegal, invalid or unenforceable in any action or proceeding whether
in its entirety or in any portion, then such provision shall be deemed amended, if possible, or deleted, as the case may be, from
the Agreement in order to render the remainder of the Agreement and any provision thereof both valid and enforceable, and all other
provisions hereof shall be given effect separately therefrom and shall not be affected thereby.

 

7.9       Fees
and Expenses. Except as otherwise provided in this Agreement, the Company and the Purchaser will bear their respective expenses
incurred in connection with the negotiation, preparation and execution of this Agreement and the transactions contemplated hereby,
including fees and expenses of attorneys, accountants, consultants and financial advisors, provided, however, that the Company
shall bear 50% of the legal fees and expenses incurred by the Purchaser.

 

7.10       Confidentiality.
(a) Each party hereto shall keep in confidence, and shall not use (except for the purposes of the transactions contemplated hereby)
or disclose, any non-public information disclosed to it or its affiliates, representatives or agents in connection with this Agreement
or the transactions contemplated hereby, and (b) each party hereto shall ensure that its affiliates, representatives and agents
keep in confidence, and do not use (except for the purposes of the transactions contemplated hereby) or disclose, any such non-public
information, provided, however, that nothing in this Agreement shall restrict any party from disclosing information (i) that is
already publicly available and not as a result of a breach of this section, or (ii) that may be required by applicable law, statute,
treaty, rule, regulation, order, right, privilege, qualification, license or franchise or determination of an arbitrator or a court
or other governmental authority or stock exchange; provided, however, that any disclosure related to the terms of
the transactions contemplated hereby shall require the Company to provide prior written notice to the Purchaser and at least a
time period not shorter than two (2) Business Days for the Purchaser to review and provide comments on such disclosure.

 

7.11       Specific
Performance. The parties hereto agree that irreparable damage would occur in the event any provision of this Agreement were
not performed in accordance with the terms hereof and that the parties hereto shall be entitled to specific performance of the
terms hereof, in addition to any other remedy at law or equity.

 

7.12       Termination.
In the event that the Closing shall not have occurred by July 3, 2018, the Company or the Purchaser (with respect to itself) may
terminate this Agreement with no further force or effect, except for the provisions of Article 7, which shall survive any
termination under this Section 7.12, provided that any party who is then in a material breach of this Agreement shall
not be entitled to terminate this Agreement.

 

7.13       Headings.
The headings of the various articles and sections of this Agreement are inserted merely for the purpose of convenience and do not
expressly or by implication limit, define or extend the specific terms of the section so designated.

 

7.15       Execution
in Counterparts;. For the convenience of the Parties and to facilitate execution, this Agreement may be executed in one or
more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the
same instrument.

 

    	 	11	 

     

    

 

7.16       No
Waiver. Except as specifically set forth herein, the rights and remedies of the parties to this Agreement are cumulative and
not alternative. No failure or delay on the part of any party in exercising any right, power or remedy under this Agreement will
operate as a waiver of such right, power or remedy, and no single or partial exercise of any such right, power or remedy will preclude
any other or further exercise of such right, power or remedy or the exercise of any other right, power or remedy. To the maximum
extent permitted by applicable law, (a) no claim or right arising out of this Agreement can be discharged by one party, in whole
or in part, by a waiver or renunciation of the claim or right unless in writing signed by the other party; (b) no waiver that may
be given by a party will be applicable except in the specific instance for which it is given; and (c) no notice to or demand on
one party will be deemed to be a waiver of any obligation of that party or of the right of the party giving such notice or demand
to take further action without notice or demand as provided in this Agreement.

 

[Remainder of Page Intentionally Left
Blank]

 

    	 	12	 

     

    

 

IN WITNESS WHEREOF, the
parties have executed this Convertible Note Purchase Agreement as of the date first above written.

 

	 	Seven Stars Cloud Group, Inc.

 

	 	By:	/s/ Bruno Wu
	 	 	Name:  Bruno
Wu
	 	 	Title: CEO and Chairman

 

Signature Page to Amended and Restated
Convertible Note Purchase Agreement

 

     

     

    

 

IN WITNESS WHEREOF, the
parties have executed this Convertible Note Purchase Agreement as of the date first above written.

 

	 	Advantech Capital Investment II
	 	Limited

 

	 	By:	/s/ Wong Kok Wai                 29 JUN 2018
	 	 	Name:  Wong
Kok Wai
	 	 	Title: Director

 

Signature Page to Amended and Restated
Convertible Note Purchase Agreement

 

     

     

    

 

EXHIBIT A

 

FORM OF CONVERTIBLE BONDExhibit 10.8

 

Execution Version

 

THIS CONVERTIBLE BOND (“CB”)
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. NO SALE OR DISPOSITION MAY BE EFFECTED EXCEPT IN COMPLIANCE
WITH RULE 144 UNDER SAID ACT OR AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL FOR PURCHASER SATISFACTORY
TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT OR RECEIPT OF A NO- ACTION LETTER FROM THE SECURITIES AND
EXCHANGE COMMISSION.

 

SEVEN STARS CLOUD

 

GROUP, INC.

 

CONVERTIBLE BOND

 

	US$12,000,000	Date of Issuance: June 28, 2018

 

FOR VALUE RECEIVED,
Seven Stars Cloud Group, Inc., a Nevada corporation (the “Company”), hereby promises to pay to the order of Advantech
Capital Investment II Limited, an exempted company incorporated and existing under the laws of the Cayman Islands (“Holder”),
the aggregate principal sum of Twelve Million US Dollars ($12,000,000) (the “Principal”) in lawful money of the
United States of America and in immediately available funds, subject to the provisions contained herein. The Company and Holder
shall be collectively referred to as the “Parties”. Unless otherwise expressly provided in this CB, initially
capitalized words or terms used in this convertible bond (“CB”) shall have the meanings set forth in the Amended and
Restated Convertible Note Purchase Agreement entered into by and between the Company and the Holder (as amended, the “Purchase
Agreement”).

 

		1.	Principal
Repayment

 

1.1        Maturity
Date. The Principal and any other amounts payable to Holder hereunder shall be due and payable to Holder on the third anniversary
of the Date of issuance (the “Maturity Date”).

 

1.2        Interest.
Interest shall accrue from the date hereof on the Principal amount at the rate of 8% per annum compounded annually until
payment in full or until the conversion of the Principal pursuant to Section 2 of this CB. If the Principal is not converted
pursuant to Section 2 of this CB, interest shall be paid with the Principal amount on the Maturity Date. If the Principal is
converted pursuant to Section 2 of this CB, interest accrued through the Conversion Date shall be paid or converted into
Common Stocks (as defined in Section 2.1 below) at the option of Holder on the Conversion Date in accordance with Section 2
of this CB.

 

1.3        Payment.
All payments made pursuant to this CB shall be made by check or wire transfer of immediately available funds and in lawful money
of the United States of America to Holder at the address for notices pursuant to Section 5.6 below or at such other place as Holder
may designate. Any payment on this CB shall be applied first to accrued interest then to other amounts owing hereunder, and thereafter
to the outstanding principal balance hereof.

 

		2.	Conversion

 

2.1        Right
to Convert. Subject to Section 2.4, Holder shall have the right but not the obligation to convert any portion of this CB into
shares of common stock of the Company (the ·’Common Stock”) at any time and from time to time; provided, however,
if the shares of the Common Stock that Holder has the right to convert into represent more than 20% of the Company’s issued and
outstanding shares, it is being agreed that prior to the obtain of the requisite stockholder approval as set forth in Section
2.2. the Common Stock into which portion of this CB converted shall, in no circumstance, be more than 19.9% of the then outstanding
Common Stock (such portion of this CB, “First Conversion Amount”). At any time following the conversion of the
First Conversion Amount, subject to the approval of the Company’s Shareholders, Holder shall have the right but not the obligation
to convert the remaining portion of the Principal and the interest accrued thereon (“Remaining Conversion Amount”)
into Common Stock. Holder shall not be entitled to vote any shares of Common Stock acquired by it pursuant to this CB or any other
Company Agreements in connection with any such stockholder approval sought by the Company.

 

     

     

    

 

2.2        Stockholder
Approval. As promptly as practicable after the Closing of this CB, and in any event, within three (3) months, the Company
covenants and agrees to use best efforts to (i) obtain any approvals of the Company’s stockholders required under the Company’s
organizational documents, applicable laws and/or the listing rules and regulations of NASDAQ in connection with the transactions
contemplated by this CB, (ii) unless proxies are solicited from the Company’s stockholders in accordance with Section 14(a) of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations promulgated
thereunder with the Securities and Exchange Commission with regard to the transactions contemplated by this CB, file an
Information Statement pursuant to Section l4(c) of the Exchange Act, and the rules and regulations promulgated thereunder with
the Securities and Exchange Commission with regard to the transactions contemplated by this CB (the “Information
Statement”) and (iii) mail the definitive Information Statement to the Company’s stockholders if one is required to be
filed with the Securities and Exchange Commission (the “Conversion conditions”).

 

2.3        Conversion
Price. Following the election by Holder pursuant to Section 2.1, upon satisfaction of the Conversion Conditions, the first
conversion Amount shall be automatically converted into shares of the Common Stock at a conversion rate of$1.82 per share (“Rate
of Conversion”) of Common Stock (the “First Conversion Shares”). Following the conversion of the First
Conversion Amount and the election by Holder pursuant to Section 2.1, upon satisfaction of the Conversion Conditions and applicable
shareholder’s approval, the Remaining Conversion Amount shall be automatically converted into shares of the Common Stock at the
Rate of Conversion (together with the First Conversion Shares, the ’"Conversion Shares").

 

2.4        Mechanics
of Conversion. Within three business days after the Holder informs the Company of its intention to convert any portion of
this CB into shares of Common Stock of the Company pursuant to Section 2.1 (such date of conversation, the "Conversion
Date"), Holder shall surrender the CB for conversion and the Company shall (i) denote in its corporate records the ownership
by Holder of the Conversion Shares, effective as of close of business on the Conversion Date and (ii) return to Holder a new CB
with respect to the portion of the original CB which was not converted. Effective as of close of business on the Conversion Date
(i) the rights of Holder with respect to the Principal, together with all other amounts due hereunder to Holder shall cease, and
(ii) Holder shall be treated for all purposes as having become the record holder of such Conversion Shares. The issuance
of Common Stock upon conversion of this CB shall be made without charge to Holder for any tax in respect of such issuance,
and such Conversion Shares shall be issued in such names as may be directed by Holder; provided, however, if the stockholder
approval is needed, the Company and Holder shall agree to the Conversion Date, which in no event, shall be later than ten (10)
calendar days following the date of the satisfaction of the Conversion Conditions, in compliance with Exchange Act Rule 14c-2(b).

 

2.5        Adjustment
or Conversion Shares. Subject to Section 2.6 hereof the number and kind of Conversion Shares or other securities to be
issued upon conversion determined pursuant to Section 2.3 shall be subject to adjustment from time to time upon
the happening of certain events while this conversion right remains outstanding, except for Exempted Transactions (as defined
below) as follows:

 

(a)
        Merger. Sale or Assets. etc. If the Company at any time shall
consolidate with or merge into or sell or convey all or substantially all its assets to any other corporation or other
entity, this CB shall thereafter be deemed to evidence the right to purchase such number and kind of shares or other
securities and property as would have been issuable or distributable on account of such consolidation, merger, sale or
conveyance, upon or with respect to the securities subject to the conversion or purchase right immediately prior to such
consolidation, merger, sale or conveyance. The foregoing provision shall similarly apply to successive transactions of u
similar nature by any such successor or purchaser. Without limiting the generality of the foregoing, the anti-dilution
provisions of this Section 2.5 shall apply to such securities of such successor or purchaser after any such consolidation,
merger. sale or conveyance.

 

     

     

    

 

(b)
        Reclassification. If the Company at any time shall by reclassification
or otherwise, change the Common Stock into the same or a different number of securities of any class or classes that may be
issued or outstanding, this CB shall there after be deemed to evidence the right to purchase an adjusted number of such
securities and kind of securities as would have been issuable as the result of such change with respect to the Common Stock
immediately prior to such reclassification or other change.

 

(c)         Stock
Splits . Combinations and Dividends. If the shares of Common Stock are subdivided or combined into a greater or smaller number
of shares of Common Stock, or if a dividend is paid on the Common Stock in shares of Common Stock, the number of Conversion Shares
to be issued upon conversion shall be proportionately reduced in case of subdivision of shares or stock dividend or proportionately
increased in the case of combination of shares, in each such case by the ratio which the total number of shares of Common Stock
outstanding immediately after such event bears to the total number of shares of Common Stock outstanding immediately prior to such
event.

 

(d)         Incorporation
or Redemption or Outstanding Shares. The Rate of Conversion shall be adjusted if the Company incorporates or redeems outstanding
securities of the Company (including the form of reverse share split) to decrease the number of shares, the rate of Conversion
shall be multiplied by a fi·action, whose numerator is the number of outstanding securities of the Company immediately before
the occurrence of the matter, and denominator is the number of outstanding securities of the Company immediately after the occurrence
of the matter.

 

(e)         Issues
at Less than Rate or Conversion. If and whenever the Company shall issue any shares (other than Common Stocks issued on the
exercise of this CB or on the exercise of any other rights of conversion into, or exchange or subscription for, any Common Stock)
or issue or grant options, warrants or other rights to subscribe for, purchase or otherwise acquire any shares, in each case at
a price per share which is less than the Rate of Conversion on the date of announcement of the terms of such issue, the Rate of
Conversion shall be adjusted to be equal to such price per share. Such adjustment shall become effective on the date of issue of
such additional shares or, as the case may be, the issue or grant of such options, warrants or other rights.

 

2.6        Most
Favored Nation Treatment. If, within the period commencing from the Date of Issuance until the Conversion Date, or (in terms
that the conversion set forth in Section 2 does not occur) the Maturity Date, the Company issues or agrees to issue to any person
convertible notes or other instruments similar to this CB with terms or conditions more favorable to such person than, or otherwise
benefits such person in a manner that is more favorable to such person than the terms set forth in this CB, the Company shall notify
Holder and upon Holder's request, promptly amend this CB in order for Holder to receive all such more favorable terms and conditions
without imposing any additional obligation or liability on Holder.

 

2.7        Adjustment
Notices. Whenever the number of Conversion Shares to be issued upon conversion is adjusted as provided in Section 2.5, the
Company shall promptly deliver to Holder written notice setting forth the revised number of Conversion Shares with a statement
of facts regarding the adjustment and the computation thereof.

 

2.8        Seniority.
The CB ranks senior in right of payment to any of the Company's indebtedness that is expressly subordinated in right of payment
to the CB, pari passu in right of payment to any of the Company's other indebtedness and liabilities that are not so subordinated,
junior in right of payment to any of the Company's secured indebtedness to the extent of the value of the assets securing such indebtedness.

 

2.9        Exempted
Transactions. The Holder understands and acknowledges that, concurrently with issuance of this CB, the Company is also in
the process of negotiating, concluding or closing the following financing transactions: (i) subscription of Common Stock of the
Company by GT DOLLAR PTE. LTD. in the amount of US$1 0,000,000.92;
and (ii) subscriptions of Common Stock of the Company by Beijing Tonghe Fund Management Co., Ltd. (./t~~:@jf~~W~~{r)':1~'!lli;M~Ri~fciJ)
and Sun Seven Stars Investment Limited or any other affiliate of Mr. Bruno Wu and/or Ms. Lan Yang or the Company, in each case
at a price of at least US$1.82 per share of Common Stock (the "Exempted Transactions").

 

     

     

    

 

		3.	Covenants
Of The Company

 

3.1        Payment
of Principal; Conversion. The Company hereby covenants and agrees that it shall pay or cause to be paid all amounts due hereunder
on the Maturity Date or, if applicable prior to the Maturity Date, the Company shall effect or cause to be effected any conversion
of the Principal into Conversion Shares.

 

3.2        Reserves.
From the date hereof until the Conversion Date or Maturity Date, whichever is later, the Company shall at all times reserve and
keep available, out of its authorized but unissued Common Stock, solely for the purpose of issue upon conversion of this CB, such
number of shares of Common Stock as shall then be issuable upon the conversion of this CB. The Company covenants that all such
shares of Common Stock shall, upon issuance, be duly and validly issued, fully paid and non-assessable.

 

3.3        Consent
Rights. Prior to conversion of all of the Principals and accrued interest, or (in terms that the conversion set forth in Section
2 does not occur) the Maturity Date, the following acts of the Company shall require prior written approval of Holder: (i) any
consolidation, merger or corporate reorganization of the Company in which the Company is not the surviving entity, or any consolidation,
merger or investment by the Company or its subsidiaries in any transaction or a series of related transactions with an investment
exceeding US$25,000,000; and (ii) any Related Party Transaction or any transactions in a series of Related Party Transactions in
excess of US$5,000,000, except for an Exempted Transaction. For purpose of this CB, "Related Party Transaction" means
an agreement, contract, plan, arrangement or other transaction effected or proposed to be effected by the Company, or by an entity
controlled by the Company, (1) to which, at the relevant time, a Related Party of the Company is a party or has a material financial
interest, or (2) to which an officer, director, business partner or employee of a Related Party of the Company is a party or has
a material financial interest. "Related Party" means (A) a director or stockholder of the Company, (B) a director or
stockholder's spouse, or a parent or sibling thereof; (C) a child, grandchild, parent, cousin, uncle, aunt of a director or stockholder,
or the spouse of any thereof; (D) an individual living in the same home as the director or stockholder, or a trust or estate of
which a person specified in subparagraph (A) to (D) inclusive of this subdivision is a substantial beneficiary; or (E) an entity,
other than the Company or an entity controlled by the Company, that is controlled by or is an affiliate of the director or stockholder
or any person specified in subparagraphs (A) to (D), inclusive, of this subdivision.

 

		4.	Default,
Acceleration

 

4.1        Events
of Default. Each of the following events shall be an "Event of Default" hereunder: (i) the Company fails to timely
pay any amounts due under this CB on the date the same becomes due and payable, (ii) the Company breaches any covenant, representation,
warranty, or agreement under this CB or the Purchase Agreement, (iii) the Company files a petition or action for relief under any
bankruptcy, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect,
or makes any assignment for the benefit of creditors or takes any action in furtherance of any of the foregoing, or (iv) an involuntary
petition is filed against the Company (unless such petition is dismissed or discharged within sixty (60) days of filing) under
any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee, assignee for the benefit of creditors (or
other similar official) is appointed to take possession, custody or control of any property of the Company.

 

4.2        Acceleration.
Upon the occurrence of an Event of Default, all outstanding principal, accrued interest and other amounts owing hereunder
shall, at the option of Holder, and, in the case of an Event of Default pursuant to Sections 4.1 (a)(iii) or (iv) above,
automatically, be immediately due and payable. Holder shall have all rights and may exercise any remedies available to  it at
law or in equity, successively or concurrently.

 

4.3        Costs
of Collection. In the event of any Event of Default hereunder, the Company shall pay all reasonable attorneys' fees and court
costs incurred by Holder in enforcing and collecting this CB.

 

     

     

    

  

		5.	Miscellaneous

 

5.1        Registration
Rights. Holder shall have the registration rights pursuant to certain registration rights agreement dated hereof.

 

5.2        Remedies
Cumulative and Continuing. All powers and remedies of Holder hereunder with respect to an Event of Default shall, to the extent
permitted by law, be deemed cumulative and not exclusive of any other thereof or of any other power or remedy available to Holder,
by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this
CB, and every power and remedy given by this CB or by applicable law to Holder may be exercised from time to time, and as often
as shall be deemed expedient by Holder.

 

5.3        Replacement;
Exchange. If this CB is destroyed, lost or stolen, the Company will deliver a new convertible bond to Holder on the same terms
and conditions as this CB with a notation of the unpaid principal in substitution of the prior CB. Holder shall furnish to the
Company reasonable evidence that the CB was destroyed, lost or stolen and any security or indemnity that may be reasonably required
by the Company in connection with the replacement of this CB.

 

5.4        Choice
of Law. This CB shall be governed by and construed in accordance with the law of the State of New York without giving effect
to the principles of conflict of Laws thereof.

 

5.5        Bank
Account. On the Date of Issuance, the Holder shall remit the Principal by wire transfer of immediately available funds to the
following bank account as designated by the Company:

 

Name of Bank: THE HONG KONG AND SHANGHAI BANKING
CORPORATION LIMITED

Address : 1  QUEEN'S ROAD CENTRAL, HONG
KONG

Account No.: 411758345838

Account holder: YOU ON DEMAND (ASIA) LIMITED

SWIFTCODE: HSBCHKHHHKH

 

5.6        Notices.
All notices or other communications required or permitted hereunder shall be in writing and shall be delivered personally, telecopied
or sent by certified, registered or express mail , postage prepaid. Any such notice shall be deemed given if delivered personally
or telecopied, on the date of such delivery, or if sent by reputable overnight courier, on the first Business Day following the
date of such mailing, as follows:

 

		(a)	if to the Company:

 

Seven Stars Cloud Group, Inc.

No. 4 Drive-in Movie Theater Park, No. 21 Liangmaqiao Road,
Chaoyang District,

Beijing, P.R.C. 100125

Attn: Legal Department

Telecopy: 86+ 10-8586-2775

 

With a copy to:

Seven Stars Cloud Group, Inc.

55 Broadway, 19th Floor

New York, NY 10006

Attn: President

Telecopy: 86+ 10-8586-2775

 

		(b)	if to Holder:

 

190 Elgin Avenue, George Town, Grand Cayman
K Y 1-9005, Cayman Islands

 

     

     

    

 

With a copy to:

 Suite 1702-03, One Exchange Square, 8 Connaught Place,
Central Hong Kong

 Phone +852 2801 6988

 Fax: +852 28014882

 Attn: Finance Department

 

Any Party may by notice given in accordance with this Section
5.6 designate another address or Person for receipt of notices hereunder.

 

5.7        Assignment.
This CB shall be binding upon the Company and Holder and its successors and assigns. The Company may not assign this CB or delegate
any of its obligations hereunder without the written consent of Holder. Holder may assign this CB and its rights hereunder to any
third party at any time without consent of the Company.

 

5.8        Cooperation;
Further Action. Each Party to this CB shall, without further consideration, execute and deliver any further or additional
instruments and perform any acts which may become reasonably necessary to effectuate and carry out the purposes of this CB.

 

5.9        Severability.
If any provision of this CB shall be held to be invalid or unenforceable, such determination shall not affect the remaining provisions
of this CB.

 

5.10      Amendments.
This CB may not be altered or amended, and no right under this CB may be waived, except by a writing executed by the Parties to
this CB or except as otherwise provided in this CB. No waiver of any term, provision or condition of this CB, in any one or more
instances, shall be deemed or construed as a further or continuing waiver of any such term, provision, or condition, or as a waiver
of any other term, provision, or condition of this CB.

 

5.11      Headings.
The headings in this CB are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

[Remainder of Page Intentionally Left Blank; Signature Page
Follows]

 

     

     

    

 

IN WITNESS WHEREOF, the undersigned have executed this CB as
of 'the date first set forth above.

 

	 	SEVEN STARS CLOUD GROUP, INC.,
	 	 	 
	 	By:	/s/ Bruno Wu
	 	Name:	Bruno Wu
	 	Title :	CEO and Chairman

 

	 	ADVANTECH CAPITAL lNVESTMENT II
    LlMITED
	 	 	 
	 	By:	/s/ Wong
    kok wai          29 JUN 2018
	 	Name:	Wong kok wai
	 	Title :	Director

 

[Signature Page – Convertible Bond]

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