Document:

Exhibit 10.6

 

EQUITY
INTEREST PLEDGE AGREEMENT

 

THIS EQUITY
INTEREST PLEDGE AGREEMENT (“Agreement”) is entered into by and between the following parties on
August 4, 2010.

 

Pledgee: BEIJING SYSWIN ZHI DI TECHNOLOGY
LIMITED (“The Pledgee”)

Registered Address: Room 5-B51, Building 1, 6 South Shi
Long Road, Mentougou District, Beijing

 

Pledgor: TAO Hongbing  (“The Pledgor”)

PRC ID Number: 620102196702105837

Address: Room 5A, Building
9, Fifth District, Central City, West Si Huan, Haidian District,Beijing

 

WHEREAS:

 

1.                           The Pledgee is
a wholly foreign-owned enterprise
duly established and valid existing under the PRC laws and is permitted by the
competent authority to conduct business in the following categories: Software
Development, Technology of Electronic Business, Technology Service, Technology
Transfer, Technology Consulting, Business Consulting, Market Research and
Analyzing, (Where specific permit is required by laws and regulations, absent
such permit, The Pledgee shall not involve in such business.) The Pledgee and
Beijing Syswin Xing Ye Real Estate Brokerage Company Limited (“Syswin Xing Ye”) have entered into the
Exclusive Technical Consulting and Service Agreement on August 4, 2010
(the “Service Agreement”).

 

2.                           The Pledgor, a
citizen of the People’s
Republic of China (the “PRC”), holds 2.42%
equity interest of Syswin Xing Ye, a limited liability company duly established and valid
existing in Beijing under the PRC laws.

 

3.                           In order to
guarantee that the Pledgee can collect the technology consulting service fees
from Syswin Xing Ye in which Pledgor hold 2.42% equity interest pursuant to the
Service Agreement, the Pledgor hereby pledges all his equity interest in Syswin
Xing Ye to the Pledgee as a security for the consulting fees to be received by
the Pledgee under the Service Agreement.

 

NOW THEREFORE, through mutual negotiations, the Parties hereby enter into
this Agreement based upon the following terms:

 

Article 1                       Definitions

 

Unless otherwise provided for in
this Agreement, the following terms shall have the following meanings:

 

1.1                                 “Pledge” means
the entire content of Article 2 hereunder.

 

1.2                                 “Equity
Interest” means all equity interest (the “Equity
Interest”) in Syswin Xing Ye 

 

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lawfully
held by the Pledgor.

 

1.3                                 “Term of
Pledge” means the period provided for under Article 3.2.

 

1.4                                 “Service
Agreement” means the Exclusive Technical Consulting and Service Agreement
entered into by and between Syswin Xing Ye and The Pledgee on August 4,
2010.

 

1.5                                 “Event of
Default” means any event set forth in Article 7 hereunder.

 

1.6                                 “Notice of
Default” means the notice of default issued by the Pledgee in accordance with
this Agreement.

 

Article 2                   Pledge

 

2.1                                 The Pledgor
agrees to pledge all his Equity Interest in Syswin Xing Ye to the Pledgee as a
security for the technical consulting service fee payable to the Pledgee under
the Service Agreement.

 

2.2                                 The Pledge
under this Agreement refers to the preferential rights enjoyed by the Pledgee
in receiving proceeds from auction or sale of the Equity Interest pledged by
the Pledgor to the Pledgee.

 

Article 3                   Term of Pledge and Registration of Pledge

 

3.1                                 The Term of
Pledge

 

3.2.1                                This Agreement
shall take into effect as of the date when the Pledge of the Equity Interest is
recorded in the register of shareholders of Syswin Xing Ye.

 

3.2.2                                During the Term
of Pledge, the Pledgee shall be entitled to foreclose the Pledge in accordance
with this Agreement in the event that Syswin Xing Ye fails to pay exclusive
technical consulting and service fees in accordance with the Service Agreement.

 

3.3                                 The
Registration of Pledge

 

The Pledgor and the Pledgee shall
file a pledge registration in compliance with relevant laws and regulations.
The Pledge shall be established as of the date of completing such registration,

 

Article 4                   Custody of Pledge Documents

 

4.1                                    During the Term
of Pledge under this Agreement, the Pledgor shall deliver the Equity Interest
Investment Certificate of Syswin Xing Ye to the Pledgee for custody. The
Pledgor shall deliver the above Equity Interest Investment Certificate to the
Pledgee within a week of the execution of this Agreement.

 

4.2                                    The Pledgee is
entitled to collect dividends of the Equity Interest during the Term of Pledge.

 

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Article 5                   Representations and Warranties of The Pledgor

 

5.1                                  The Pledgor is
the lawful holder of the Equity Interest.

 

5.2                                  The Pledgee
shall not be interfered with by any third party at any time when exercising its
rights in accordance with this Agreement.

 

5.3                                  The Pledgee
shall be entitled to exercise or assign the Pledge in accordance with this
Agreement.

 

5.4                                  The Pledgor has
not created any encumbrance over the Equity Interest in favor of any other
person except for the Pledgee.

 

Article 6                   Covenants of the Pledgor

 

6.1                                  During the term
of this Agreement, the Pledgor covenants to the Pledgee that:

 

6.1.1                                    Except for the
transfer of the Equity Interest to the Pledgee or the person designated by the
Pledgee (“Designated Person”)
pursuant to the Exclusive Equity Interest Purchase Agreement entered into by
and among the Pledgor, Syswin Limited and Syswin Xing Ye on August 4,
2010, without prior written consent
from the Pledgee, the Pledgor shall not transfer or assign all or part of the
Equity Interest, create or permit the creation of any pledges which may have an
adverse affect on the rights or benefits of the Pledgee.

 

6.1.2                                    The Pledgor
shall comply with and act according to all laws and regulation with respect to
pledge of equity interest, and any the notices, orders or suggestions with
respect to the Pledge issued or made by the competent authority, or file
objection to the foregoing matters at the reasonable request or with the
consent of the Pledgee.

 

6.1.3                                    The Pledgor
shall timely notify the Pledgee of any event or any received notice which may
affect the Pledgor’s Equity Interest or any part of its rights, and any event
or notice which may alter or affect any of the Pledgor’s covenants and
obligations hereunder.

 

6.2                                  The Pledgor
agrees that the Pledgee’s right to exercise the Pledge acquired under this
Agreement shall not be terminated or undermined through legal proceedings
initiated by the Pledgor, any successors of the Pledgor, any person authorized
by the Pledgor or any other third party.

 

6.3                                  The Pledgor
covenants to the Pledgee that in order to protect or perfect the security over
the payments of the technical consulting and service fees under the Service
Agreement, the Pledgor shall execute in good faith and procure other parties
who have interests in the Pledge to execute all title certificates, contracts
upon the request of the pledgee, and/or perform and procure other parties who
have interests to take action as required by the Pledgee and facilitate the
exercise of rights and authorization vested in the Pledgee under this
Agreement, and execute all the documents with respect to the alternations of
certificate of the Equity Interest with the Pledgee or the 

 

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person (individual
or legal entity) designated by the Pledgee, and provide all notices, orders and
decisions deemed necessary by the Pledgee to the Pledgee within a reasonable
time.

 

6.4                                  The Pledgor
covenants to the Pledgee that the Pledgor will comply with and perform all the
guarantees, covenants, agreements, representations and conditions for the
benefits of the Pledgee. If the Pledgor does not perform or does not fully
perform its guarantees, covenants, agreements, representations and conditions,
the Pledgor shall compensate all the losses therefore suffered by the Pledgee.

 

Article 7                   Events of Default

 

7.1                                 The events
enumerated below shall be deemed as default:

 

7.1.1                           Syswin Xing Ye
fails to make full payments of the exclusive technical consulting and service
fees as scheduled under the Service Agreement.

 

7.1.2                           The Pledgor
makes any material misleading or fraudulent representations or warranties under
Article 5 herein, and/or the Pledgor breaches any warranties under
Article 5 herein.

 

7.1.3                           The Pledgor
violates any covenant under Article 6 herein.

 

7.1.4                           The Pledgor
violates any term or condition herein.

 

7.1.5                           The Pledgor
forgoes the pledged Equity Interest or transfers or assigns the pledged Equity
Interest without prior written consent of the Pledgee, except as provided in
Article 6.1.1 in this Agreement.

 

7.1.6                           The Pledgor is
incapable of repaying its general debt or other debt owed to the Pledgee.

 

7.1.7                           This Agreement
becomes illegal or the Pledgor is incapable to continue to perform obligations
herein for the reason of the promulgation of the related laws.

 

7.1.8                           Any approval,
permit or authorization of the competent authority in associated with the
enforcement and validity of this Agreement is withdrawn, suspended, invalidated
or materially revised.

 

7.1.9                           The property of
the Pledgor adversely changes to the extent that the Pledgee deems that the
Pledgor’s capacity to perform the obligations herein is affected.

 

7.1.10                     The successors or assignees of
Syswin Xing Ye can only partly perform or refuse to perform the payment obligations
under the Service Agreement.

 

7.1.11                     Other circumstances whereby the
Pledgee is incapable of exercising the right to foreclose on the Pledge in
accordance with the related laws.

 

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7.2                                  The Pledgor should
immediately notify The Pledgee in written of the occurrence of any event under
Article 7.1 herein or any events that may result in the foregoing events
upon his knowledge.

 

7.3                                  Unless the event of default under Article 7.1 herein has
been resolved to the Pledgee’s satisfaction, the Pledgee, at any time when the
event of default occurs or thereafter, may issue a written notice of default to
the Pledgor and require the Pledgor immediately make full payment of the
outstanding service fees under the Service Agreement and other payables or
foreclose on the Pledge in accordance with Article 8 herein.

 

Article 8                   Rights of the Pledgee

 

8.1                                 The Pledgor
shall not transfer or assign the Equity Interest without prior written approval
from the Pledgee prior to the full repayment of the consulting and service fees
under the Service Agreement.

 

8.2                                 The Pledgee
shall serve a Notice of Default on the Pledgor when exercises the right of
pledge.

 

8.3                                 Subject to
Article 7.3, the Pledgee may exercise the right to foreclose on the Pledge
at any time when the Pledgee serves the Notice of Default pursuant to
Article 7.3 or thereafter.

 

8.4                                 The Pledgee
shall have the preferential right to receive payments or proceeds from the
auction or sale of whole or part of the Equity Interest pledged herein in
accordance with applicable law until the outstanding technical consulting and
service fees and all other payables under the Service Agreement are fully
repaid. A mutual consent should be reached on the sale price and procedure of
disclosure of pledge by and between both parties, in the event a mutual consent
could not be reached, the pledgee should file a lawsuit with court of competent
authority to determine the same.

 

8.5                                 The Pledgor
shall not hinder the Pledgee from foreclosing on the Pledge in accordance with
this Agreement and shall provide all necessary assistance for the foreclosure.

 

Article 9                   Assignment

 

9.1                                 The Pledgor
shall not confer or assign any right or obligation herein to any third party
without prior written consent of the Pledgee.

 

9.2                                 This Agreement
shall be binding and enforceable on Pledgee and each of his successors and
assignees.

 

9.3                                 The Pledgee may
transfer or assign all or any of his rights and obligations under the Service
Agreement to any person (individual or legal entity) designated by him at any
time. In this case, the assignee shall enjoy and undertake all rights and
obligations herein of the Pledgee as if the assignee is a party hereto. Where
the Pledgee transfers or assigns the rights and obligations under the Service
Agreement, the Pledgor shall execute the relevant agreements and/or documents
with respect to such transfer or 

 

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assignment
upon the request of the Pledgee.

 

9.4                                 After the
identity of the Pledgee has been changed after the assignment, the new parties
to the pledge shall re-execute a pledge contract.

 

Article 10            Termination

 

10.1                                 This Agreement
shall not be terminated until the technology consulting and service fees under
the Service Agreement are fully paid and Syswin Xing Ye no longer undertakes
any obligation under the Service Agreement.

 

Article 11            Processing Fees and Other Expenses

 

11.1                                  The Pledgor
shall be responsible for all the fees and actual expenditures in relation to
this Agreement, including but not limited to legal fees, cost of production,
stamp tax and any other taxes and charges. If the Pledgee pays the relevant
taxes and fees in accordance with laws, the Pledgor shall fully reimburse such
taxes and fees paid by the Pledgee.

 

11.2                                  If the Pledgor
fails to pay any payable taxes, fees or charges in accordance with this
Agreement or the Pledgee, for certain reasons, has to recource to any forgoing
taxes, charges or fees, the Pledgor shall be responsible for all the fees
(including but not limited to any taxes, proceeding fees, management fees,
litigation fees, attorney’s fees, and various insurance premiums in connection
with disclosure of the Pledge) incurred by the Pledgor.

 

Article 12            Force Majeure

 

12.1                                  If the
fulfilment of this Agreement is delayed or prevented due to the Force Majeure
Events, the party affected by such a Force Majeure Event shall free from any
obligation to the extent of delay or holdback. Force Majeure refers to any
event beyond control of the affected party and unavoidable with reasonable
caution, which shall include but not limited to, government acts, nature
disasters, fire, explosion, typhoon, flood, earthquake, tidal wave, lightning
or war. However, any lack of credit, assets or financing shall not be deemed as
an event beyond control of a Party. The party claiming the Force Majeure and
seeking a waiver of its obligations hereunder shall promptly inform the other
party of the Force Majeure and the procedure to fulfil its obligations
hereunder.

 

12.2                                  If performance
of this Agreement is delayed or prevented due to Force Majeure set forth in the
preceding paragraph, the affected party shall not subject to any liability
hereunder arising from the performances so delayed or prevented. The affected
party shall make reasonable effort to reduce or diminish the effect from such
Event, and shall make reasonable efforts to resume its performance. Both
parties shall resume the performance with best effort upon elimination of such
Event.

 

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Article 13            Dispute Resolution

 

13.1                                  This Agreement shall be governed by and construed in all
respects in accordance with the PRC laws.

 

13.2                                  The Parties shall settle any dispute arising from the
interpretation or performance, or in connection with this Agreement through
friendly consultation. In case no settlement can be reached through
consultation, each Party can submit such dispute to China International
Economic and Trade Arbitration Committee (“CIETAC”)
for arbitration according to its currently effective arbitration rules. The
arbitration shall be held in Beijing and conducted in Chinese. The arbitration
awards shall be final and binding upon the Parties. The arbitration awards may
be submitted to the applicable People’s Court for enforcement.

 

Article 14            Notices

 

14.1                                  Any notice to which is given by the both Parties hereto
regarding the rights and obligations hereunder shall be in writing. Where such
notice is delivered personally, the time of notice is the time when such notice
actually reaches the addressee; where such notice is transmitted by telex or
facsimile, the notice time is the time when such notice is transmitted. If such
notice does not reach the addressee on business date or reaches the addressee
after the business time, the next business day following such day is the date
of notice. The delivery place is the address first written above of the Parties
hereto or the address advised in writing including, inter alias, facsimile and
telex from time to time.

 

Article 15            Appendix

 

15.1                                    The Appendix of
this Agreement as attached hereto is parts of this Agreement.

 

Article 16            Effectiveness

 

16.1                                 This Agreement
and any amendments, supplements and modifications of this Agreement shall be in
writing, and come into effect upon execution and seal by the Parties thereto.

 

16.2                                 This Agreement
is executed both in Chinese and English with two copies for each language. The
Chinese version shall prevail in the event of any inconsistency between the
English and any Chinese versions thereof.

 

[THIS SPACE IS INTENTIONALLY
LEFT BLANK]

 

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This page is the signing page of this Equity
Interest Pledge Agreement.

 

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

 

The Pledgee: BEIJING SYSWIN ZHI DI
TECHNOLOGY LIMITED

	
  Legal Representative (Signature):

  	
  /s/ Hongbing Tao

  

 

 

 

The Pledgor: TAO Hongbing

	
  (Signature):

  	
  /s/ Hongbing Tao

  

 

 

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Appendix I

 

DECLARATION

 

Beijing Syswin Xing Ye Real Estate Brokerage Company Limited (“Syswin Xing
Ye”) is a limited liability company incorporated in China. I, being the
shareholder of Syswin Xing Ye, hold 2.42% equity interests in Syswin Xing Ye,
and together with the other two shareholders, Beijing Syswin International Real
Estate Consulting Company Limited, Qingling Company Limited, in aggregate hold
100% equity interests in Syswin Xing Ye. I hereby acknowledge and warrant that
I would permanently and irrevocably waive my preemptive purchase option to the
remaining 97.58% equity interests held in aggregate by the other two
shareholders and will not hamper any transfer of such equity interest in all or
in part in any form.

 

Such waiver should take into effect as of the execution date of this
declaration.

 

 

	
  TAO Hongbing

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Signature:

  	
  /s/ Hongbing Tao

  	
   

  
	
   

  	
   

  
	
  August 4, 2010Exhibit 10.7

 

EXCLUSIVE PURCHASE OPTION AGREEMENT

 

THIS EXCLUSIVE PURCHASE OPTION AGREEMENT (the “Agreement”) is entered into as of August 4,
2010 among the following parties:

 

Party A: SYSWIN
LIMITED, a limited liability company duly established and
valid existing under the HK SAR laws.

Registered Address: Room 42,
4th Floor, New Henry House, 10 Ice House
Street, Central, Hong Kong

 

Party B: TAO Hongbing, a PRC citizen.

ID number : 620102196702105837

 

Party C: BEIJING
SYSWIN XING YE REAL ESTATE BROKERAGE COMAPNY LIMITED, a limited liability company duly established and valid existing under the
PRC laws.

Registered Address: Room D103,
7 long Yuan Road, Shi Long Industrial Zone, Mentougou District, Beijing

 

WHEREAS,

 

1.                             Party B holds 2.42% equity interest in Party C;

 

2.                             Party C and Beijing Syswin Zhi Di Technology Limited (“Syswin Zhi Di”) have entered into a series
of Agreements including the Exclusive Technical Consulting and Service
Agreement.

 

NOW THEREFORE, through mutual consents, the Parties to this Agreement hereby agree as
follows:

 

1.                            Purchase and Sale of Equity Interest

 

1.1                       Authorization

 

Party B hereby irrevocably grants,
to the extent permitted by the PRC laws and regulations, Party A or one or more
persons designated by Party A (“Designated
Persons”) an exclusive option (the “Option”) to purchase at any time all or part of Party B’s
equity interest in Party C at the price set forth in Article 1.3 hereof in
accordance with the procedures determined by Party A. Except for Party A and
the Designated Person, Party B shall not sell the equity interest to any other
party. Party C hereby agrees on the 

 

1

 

granting of the Option of equity
interest by Party B to Party A. For the purpose of this Agreement, “person”
refers to individual, corporation, joint venture, partnership, enterprise,
trust or non-corporation organization.

 

1.2                       Procedure of Exercising the Option

 

Party A should exercise its Option in accordance with all
PRC laws and regulations. Party A should send a written notice (the “Notice of Exercise”) to Party B when it
intends to exercise the Option. The Notice of Exercise shall state the
following: (a) Party A’s intention to exercise the Option; (b) the
percentage of equity interest that Party A intends to purchase from Party B
(the “Purchased Equity Interest”);
and (c) the effective date or transfer date.

 

1.3                       Purchase Price

 

The Purchase Price (the “Purchase Price”) shall be determined by and between Party A
and Party B through negotiation according to the appraisal of the equity
interest approved by the competent authority, and shall be the minimum price
allowable by the PRC laws. Party B hereby unconditionally and irrevocably
agrees that, in the event that Party A exercises its Option, Party B shall
unconditionally remit the Purchase Price to Party A in refund.

 

1.4                       Transfer of the Purchased Equity Interest

 

Each time when Party A exercises
the Option:

 

1.4.1                       Party B shall procure Party C to timely convene shareholders’ meeting and
pass the shareholders’ resolution approving Party B transfer to Party A or the
Designated Person the equity interest.

 

1.4.2                       Party B shall enter into Equity Transfer Agreement with Party A (or the
Designated Person, if applicable) in accordance with this Agreement and Purchase
Notice.

 

1.4.3                       The relevant parties shall execute all other necessary agreements or
documents, and acquire all necessary government approvals and consents, and
take all necessary actions to lawfully transfer the title to the equity
interests free from any Security Interest to Party A and/or the Designated
Person and procure Party A and/or the Designated Person to be registered as the
holder of the equity interest. For this section and this Agreement, security
interest shall include security, mortgage, any third  party’s right or interest, any option of
equity interest, right of acquisition, right of first refusal, offset right,
ownership detainment or any other security arrangements. However, the security
interest shall not include any equity interest accrued in accordance with this
Agreement and the Equity Interest Pledge Agreement entered into by and between 

 

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Party B and Syswin Zhi Ye on August 4, 2010 (“Equity Interest Pledge Agreement”).
According to the Equity Interest Pledge Agreement, Party B shall pledge all its
equity interest in Party C to Syswin Zhi Ye as a guarantee of Party C’s
performance of the Exclusive Technical Consulting and Service Agreement which
is entered into by and between Party C and Syswin Zhi Ye on August 4, 2010 (“Exclusive Technical Consulting and Service Agreement”).

 

1.5                     Payments for the Equity Interest

 

1.5.1                       Party A shall pay the Purchase Price to Party B in accordance with Article 1.3
hereof.

 

2.                            Covenants Relating to the Equity Interest

 

2.1                     Party C hereby covenants that:

 

2.1.1                       It will not, without prior written consent of Party A or the Designated Person,  supplement, amend, or modify in any form its
articles of association, increase or decrease its registered capital, or change
the equity structure in any other ways.

 

2.1.2                       It will follow good commercial and business standards and practices and be
validly existing. It will also prudently and effectively operates its business
and handle related corporate affairs in accordance with commercial standards
and practice.

 

2.1.3                       It will not, without prior written consent of Party A or the designated
person, sell, transfer, mortgage or otherwise dispose of any asset, income,
legitimate or beneficial interests in its business or, or allow creation of any
other Security Interest.

 

2.1.4                       Without  prior written consent of
Party A or the designated person, it will not incur, inherit, guarantee or
allow the existence of any debt, with the exception of: (i) the debt
incurred during the ordinary or daily course of business and not incurred
through the borrowing; and (ii) the debt has been disclosed to Party A and
for which written consent from Party A has been obtained.

 

2.1.5                       It will normally operate all business to maintain asset value of Party B,
and it will not result in any materially adverse affect on its business
operation and the value of its asset by any acts or omissions.

 

2.1.6                       It will not, without prior written consent of Party A or the designated
person, enter into any material agreement except for the agreements entered
into during the ordinary course of 

 

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business. (For the purpose of this section, an agreement
should be deemed as a material agreement if the amount of which exceeds
RMB100,000.)

 

2.1.7                       It will not provide any loan or credit line to anyone without prior written
consent from Party A or the Designated Person.

 

2.1.8                       Upon the request of Party A, it will provide all materials related to its
business and financial conditions to Party A.

 

2.1.9                       It will purchase and maintain insurance policies from insurance companies
acceptable to Party A. The insured amount and category shall be the same as
those held by the companies located in the geographical area, operating the similar
business and owning similar properties and assets.

 

2.1.10                 It will not merge or associate with any entity, or acquire any entity or
invest in any entity.

 

2.1.11                 It shall promptly inform Party A of any existing or potential litigation,
arbitration, or administrative procedure in relation to Party C’s assets,
business and revenue.

 

2.1.12                 In order to maintain its ownership of all its assets, it will execute all
necessary or appropriate documents, commence all necessary or appropriate
claims, or make all necessary or proper defences to all claims.

 

2.1.13                 It will not distribute dividends to its shareholders in any form without
prior written consent of Party A. Nevertheless, Party C shall immediately
distribute all payable dividends to the shareholders upon request of Party A or
the Designated Person.

 

2.2                     Party B hereby covenants that:

 

2.2.1                       Without prior written consent of Party A or the designated person, it will
not sell, transfer, mortgage or otherwise dispose of any right or interest
relating to the equity interest, or allow any creation of other security
interest on the equity interest. However the security interest accrued by this
Agreement and the Equity Interest Pledge Agreement shall be excluded.

 

2.2.2                       It shall promptly inform Party A of any existing or potential litigation,
arbitration, or administrative procedure in relation to the equity interest.

 

2.2.3                       It will make all necessary efforts to maintain its title to the equity of
Party C, including but not limited to execute all necessary or appropriate documents,
commence all necessary or appropriate 

 

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claims, or make all necessary or appropriate defences to
all claims.

 

2.2.4                       Upon the request of Party A at any time, it shall immediately and unconditionally
transfer its equity interest to Party A or the Designated Person.

 

2.2.5                       Party B shall strictly comply with and duly perform the obligations of this
Agreement and any other agreements entered into by Party B, Party C, and Party
A collectively or respectively and shall not affect the validity and
enforceability of such agreements by acts or omissions.

 

3.                            Representations and Warranties

 

3.1                       Party B and Party C hereby collectively and respectively represent and
warrant to Pary A that as of the execution date of this Agreement and each and
every transfer day thereafter:

 

3.1.1                       It has the power and authority to enter
into and will duly perform this Agreement and any Equity Transfer Agreement
executed thereafter by Party B or Party C collectively or respectively. Upon
execution, this Agreement and each Equity Transfer Agreement to which it is a
party constitute a legal, valid and binding obligation and is enforceable
against Party B and Party C in accordance with the relevant terms therein.

 

3.1.2                       The execution and performance of this Agreement or any Equity Transfer
Agreement thereafter shall not: (i) violates any PRC laws; (ii) contradicts
its articles of association or other organizational documents; (iii) cause
any breach of  any contracts or documents
to which Party B and/or Party C is a party or which binds Party B and/or Party
C; (iv) violates any acquired permit, approval or any valid qualification
thereof; or (v) result in the ceasing or revocation or additional
conditions to the acquired permit or approval.

 

3.1.3                       Party B retains full and marketable
title to its assets and facilities. Party B did not create any security
interest on the said equity interest except the security interest accrued in
this Agreement and the pledge set by the Equity Interests Pledge Agreement.

 

3.1.4                       Party B or any person designated by
Party B shall unconditionally transfer any funds obtained from Party C in full
to Party A (including but not limited to dividends, bonus, other rights,
earnings and so forth distributed by Party C.)

 

3.1.5                       Prior to Party A’s lawful exercise of
Option, Party B shall not request Party C to distribute any dividend, bonus,
other right, earning and so forth without Party A’s permit.

 

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3.1.6                       Party C does not have any outstanding
debt except (i) the debt incurred in its ordinary course of business
excluding loans; (ii) the debt having been disclosed to Party A and for
which written consent  from Party A has
been obtained.

 

3.1.7                       Party C shall comply with all
applicable laws and regulations relating to equity transfer.

 

3.1.8                       There is no existing, pending or
potential litigation, arbitration, or administrative procedure relating to the
equity interest, assets of Party C or otherwise in relation to Party C, except
for those already disclosed to Party A in Exhibit II.

 

3.2                       Party A hereby represents and warrants to Party B and Party C on the
effective date of this Agreement and each transfer date thereafter:

 

(i)                                     Party A is obligated to provide continual
financial support to Party C when Party C so requires;

 

(ii)                                  In the event that Party C fails to
repay the funds provided by Party A due to operational losses, Party A hereby
agrees to forgo the right to seek repayment.

 

4.                            Effective Date

 

This Agreement shall be effective from the execution date
(“Effective Date”), with a  term of ten (10) years, and it may be
extended by another ten (10) years if Party A so requires. Party A is
entitled to extend the term at its own discretion thereafter.

 

5.                            Governing Law and
Dispute Resolution

 

5.1                       Governing Law

 

This Agreement shall be governed by and construed in
every aspect in accordance with PRC laws.

 

5.2                       Dispute Resolution

 

The parties shall settle in good
faith any dispute arising out of the interpretation of this Agreement through
friendly consultation. If no settlement can be reached through consultation,
each party may submit such dispute to China International Economic and Trade
Arbitration Committee (“CIETAC”)
for arbitration in accordance with the currently effective rules of
CIETAC. The arbitration shall be conducted in Beijing and in Chinese. The
arbitration decision shall be final and binding upon both parties.

 

6

 

6.                            Tax and Expenditures

 

Each party shall bear its own tax, costs and expenditures
relating to preparing for and executing this Agreement and each Equity Transfer
Contract thereafter and completing the contemplated deal.

 

7.                            Notice

 

Any notice or other communication under this Agreement
shall be in Chinese and be sent to the address listed below or other address as
may be designated from time to time by personal delivery or mail or facsimile.
Any notice required or given hereunder shall be deemed to have been served on:
(a) the same date if sent by personal delivery; (b) the tenth date
from delivery (subject to the stamp) of a prepaid air-mail, or the fourth date
from delivering to a professional delivery company acknowledged worldwide if
sent by mail; and (c) the receipt date recorded on the transmission
confirmation notice if sent by facsimile.

 

Party A: SYSWIN
LIMITED,

Registered Address: Room 42,
4th Floor, New Henry House, 10 Ice House
Street, Central, Hong Kong

 

Party B: TAO
Hongbing

Address : Room 5A, Building
9, Fifth District, Central City, West Si Huan, Haidian District, Beijing

 

Party C: BEIJING
SYSWIN XING YE REAL ESTATE BROKERAGE COMPANY LIMITED

Registered Address: Room E7-03,
8 Long Yuan Road, Shi Long Industrial Zone, Mentougou District, Beijing

 

8.                            Confidentiality

 

8.1                       The Parties acknowledge and confirm
that any oral or written information relating to this Agreement communicated
among the Parties shall be deemed as confidential
information (“Confidential Information”). The Parties shall keep confidential of such
Confidential Information and shall not disclose to any third party unless
having obtained prior written consent from the other parties. Nevertheless,
Confidential Information shall not include information which (a) was at
the date hereof or subsequently becomes public
information (other than disclosed by any party received such Confidential
Information); (b) is disclosed in accordance with applicable
laws or regulations; or (c) the party who disclose any Confidential
Information to its attorneys or financial advisors who need to access such
information shall ensure that such attorneys or financial advisors comply with
this provision and keep confidential of such 

 

7

 

information.  The
disclosure by the employee or agent of Each Party shall be deemed as disclosed
by the party itself, and the party shall be liable of the breach. The Parties
agree that the provisions of this Article shall survive notwithstanding
the termination of this Agreement.

 

9.                            Further Guarantees

 

9.1                       The Parties agree that they will, without any hesitation, execute any
necessary documents for the performance of this Agreement or any documents
which are benefit for the purpose of this Agreement, and will take all
necessary actions for the purpose of this Agreement or take actions which are
benefit for the purpose of this Agreement.

 

10.                     Miscellaneous

 

10.1                          Amendments and supplementations

 

Any revision, amendment and supplementation of this
Agreement shall be in written and executed by Each Party.

 

10.2                          Compliance with laws and regulations

 

The Parties shall comply with all applicable PRC laws and
regulations which have been formally issued and is publicly accessible.

 

10.3                          Entire agreement

 

Unless it is otherwise revised, amended or supplemented
after execution of this Agreement, this Agreement constitutes the entire
agreement among the parties as to the subject matter, and supersedes any prior
oral or written negotiations, statements or agreements among the parties.

 

10.4                          Headings

 

Headings in this Agreement are only set out for reading
convenience, and shall not be used to interpret, explain or otherwise influence
the meaning of provisions of this Agreement.

 

10.5                          Language

 

This Agreement is made in Chinese and English in three originals. The Chinese version will prevail
in the event of any inconsistency between the English and any Chinese
translations thereof.

 

10.6                          Severability

 

If any of the terms of this
Agreement is declared invalid, illegal or unenforceable in accordance with any
applicable laws or regulations, the validity and enforceability of the other
terms hereof shall nevertheless remain unaffected, and the Parties hereto agree
to, through friendly 

 

8

 

negotiation, make valid terms to
such invalid, illegal or unenforceable terms, and the economic results from
such valid terms shall  be close to, as
much as may be possible, the superseded invalid, illegal or enforceable terms.

 

10.7                          Successor

 

This Agreement shall bind the
successor of each party or the transferee permitted by the other parties and
shall be interpreted for its benefit.

 

10.8                          Continuous Effectiveness

 

10.8.1                           Any duties occurred in relation to the Agreement before expiration or early
termination of the Agreement shall continue to be effective after expiration or
early termination of the Agreement.

 

10.8.2                           Articles 5, 7, 8 and 10.8 hereof shall survive notwithstanding the termination of this Agreement.

 

10.9                          Waiver

 

Each party may waive the terms
and conditions under this Agreement in writing. Such waiver should be duly
signed by the other parties. Any waive relating to the breach of the other
party in certain circumstance shall not be deemed as that the waiver party has
made waiver to the other party for the same breach in other circumstances.

 

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

 

9

 

This page is the signing
page of this Exclusive Equity Interest Purchase Agreement.

 

IN WITNESS
WHEREOF, the both Parties have its authorized representative
executed this Agreement on the date first above written.

 

Party A: SYSWIN
LIMITED,

	
  Authorized Representative
  (Signature):

  	
  /s/ Liangsheng Chen

  

 

 

 

Party B: TAO
Hongbing

	
  (signature):

  	
  /s/ Hongbing Tao

  

 

 

Party C: BEIJING
SYSWIN XING YE REAL ESTATE BROKERAGE COMPANY LIMITED

	
  Legal Representative
  (Signature):

  	
  /s/ Hongbing Tao

  

 

 

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