Document:

Exhibit
4.1

 

Advisors Asset Management, Inc.

18925 Base Camp Road

Monument, Colorado 80132

June 21, 2019

 

Advisors Disciplined Trust 1944

c/o The Bank of New York Mellon, as Trustee

BNY Atlantic Terminal

2 Hanson Place, 12th Floor

Brooklyn, New York 11217

 

Re: Advisors Disciplined Trust 1944 (the “Fund”)

Ladies and Gentlemen:

We have examined
the Registration Statement File No. 333-230309 for the above captioned Fund. We hereby consent to the use in the Registration Statement
of the references to Advisors Asset Management, Inc. as evaluator.

You are hereby authorized
to file a copy of this letter with the Securities and Exchange Commission.

 

	 	Very truly yours,
	 	 	 
	 	Advisors Asset Management, Inc.
	 	 	 
	 	 	 
	 	By	/s/ ALEX R. MEITZNER
	 	 	Alex R. Meitzner
	 	 	Senior Vice PresidentExhibit 4.2

 

 

Consent of Independent Registered
Public Accounting Firm

We have issued our
report dated June 21, 2019, with respect to the financial statement of Advisors Disciplined Trust 1944 contained in Amendment No.
1 to the Registration Statement on Form S-6 (File No. 333-230309) and related Prospectus. We consent to the use of the aforementioned
report in the Registration Statement and Prospectus, and to the use of our name as it appears under the caption “Experts”.

 

/s/ Grant
Thornton LLP

 

Chicago, Illinois

June 21, 2019Exhibit
10.1

 

Loan
Agreement

 

This
Loan Agreement (the “Agreement”) is made and entered into by and between the Parties below as of November 6, 2018
in Jiaxing, the People’s Republic of China (“China” or the “PRC”):

 

	 	(1)	Jiaxing
    Bangtong Electronic technology Co., Ltd. (嘉兴市邦同电子科技有限公司)(the
    “Lender”), a wholly foreign-owned enterprise, organized and existing under the laws of the PRC, with its registered
    address at ***;

 

	 	(2)	Xianyi
    Hao(郝显义) (the “Borrower”), a citizen of China with Identification No.: ***

 

In
this Agreement, each of the Lender and the Borrower shall be hereinafter referred to as a “Party” individually, and
as the “Parties” collectively.

 

Whereas:

 

	1.	As
    of the date hereof, the Borrower holds 97.55% of equity interests in Shenzhen Bangtong Ecommerce Co., Ltd.(深圳市邦同电子商务有限公司)
    (the “Borrower Company”). All of the equity interest now held and hereafter acquired by the Borrower in the Borrower
    Company shall be referred to as the “Borrower Equity Interest;”

 

	2.	The
    Lender agrees to provide the Borrower with a loan in the aggregate amount of RMB 11,930,000 to be used for the purposes set
    forth in this Agreement.

 

After
friendly consultation, the Parties agree as follows:

 

	1	Loan

 

	 	1.1	In
    accordance with the terms and conditions of this Agreement, the Lender agrees to provide to the Borrower a loan in the aggregate
    amount of RMB 11,930,000 (the “Loan”). Once the Lender receives a notice from the Borrower requesting the provision
    of all or any part of the Loan during the term of this Agreement, the Lender shall within one (1) month after receiving such
    notice provide that portion of Loan to the Borrower. The term of the Loan shall be the term of this Agreement. During the
    term of the Loan, upon occurrence of any of the following circumstances, the term of the Loan shall accelerate and the Borrower
    shall immediately repay the full amount of the Loan (and any interest thereon):

 

	 	1.1.1	Thirty
    (30) days elapsed after the Borrower receives a written notice from the Lender requesting repayment of the Loan (and all interest
    thereon);

 

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

 

    	 	 	 

     

    

 

	 	1.1.3	The
    Borrower ceases (for any reason) to be a shareholder of the Borrower Company or its affiliates, and the Borrower is not an
    employee of the Lender, the Borrower Company or their affiliates;

 

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

 

	 	1.1.5	According
    to the applicable laws of China, foreign investors are permitted to invest in the principal business that is currently conducted
    by the Borrower Company in China, with a controlling stake and/or in the form of wholly foreign-owned enterprises, the competent
    government authorities of China begin to approve such investments, and the Lender elects to exercise the exclusive option
    under the Exclusive Option Agreement (the “Exclusive Option Agreement”) described in this Agreement; or the Lender
    or the Borrower Company has violated or committed a breach of its representations, warranties, covenants or other obligations
    under the Exclusive Option Agreement;

 

	 	1.1.6	The
    Borrower Company failed to obtain or renew any governmental approval or license necessary for the operation of its core business.

 

	 	1.2	The
    Borrower agrees to accept the aforementioned Loan provided by the Lender, and hereby agrees and undertakes to use the Loan
    solely for the contribution of the registered capital of the Borrower Company, or for the working capital of the Borrower
    Company. Without the Lender’s prior written consent, the Borrower shall not use the Loan for any purpose other than
    as set forth herein.

 

	 	1.3	The
    Lender and the Borrower hereby agree and confirm that the Borrower shall repay the Loan only through the following means (or
    other means approved by the Lender): by transferring the Borrower Equity Interest in whole to the Lender or the Lender’s
    designated persons (legal or natural persons) pursuant to the Lender’s exercise of its right to acquire the Borrower
    Equity Interest under the Exclusive Option Agreement, and any proceeds from the transfer of the Borrower Equity Interest (to
    the extent permissible) shall be used by the Borrower to repay the Loan (principal and any interest thereon) to the Lender
    or the Lender’s designated persons, in accordance with this Agreement and in the manner designated by the Lender.

 

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

 

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

 

    	 	 	 

     

    

 

	 	1.6	When
    the Borrower transfers the Borrower Equity Interest to the Lender or the Lender’s designated person(s) in accordance
    with the Exclusive Option Agreement, (1) in the event that the transfer price of such Borrower Equity Interest equals to or
    is lower than the principal of the Loan under this Agreement, the Loan under this Agreement shall be an interest-free loan,
    (2) in the event that the transfer price of such Borrower Equity Interest exceeds the actual principal amount of the Loan
    under this Agreement, the excess over the actual principal amount shall be the interest of the Loan under this Agreement to
    the extent not prohibited by the PRC laws, and all of such interest shall be repaid by the Borrower to the Lender or otherwise
    paid by the Borrower to the Lender’s designated person(s) through legal means within ten (10) days after receiving the
    transfer price.

 

	2	Representations
    and Warranties

 

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

 

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

 

	 	2.1.2	The
    Lender has the legal capacity to execute and perform this Agreement. The execution and performance by the Lender of this Agreement
    do not violate the Lender’s articles of association or other organizational documents, and the Lender has obtained all
    necessary and proper approvals and authorizations for the execution and performance of this Agreement; and

 

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

 

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

 

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

 

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

 

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

 

    	 	 	 

     

    

 

	3	Borrower’s
    Covenants

 

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

 

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

 

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

 

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

 

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

 

	 	3.1.5	at
    the request of the Lender, to appoint any persons designated by the Lender as the director or the executive director of the
    Borrower Company;

 

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

 

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

 

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

 

	 	3.2.3	without
    the prior written consent of the Lender, not sell, transfer, mortgage or dispose of in any other manner the legal or beneficial
    interest in the Borrower Equity Interest, or allow the encumbrance thereon of any security interest, except in accordance
    with the Equity Interest Pledge Agreement, the Exclusive Option Agreement and the Power of Attorney;

 

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

 

    	 	 	 

     

    

 

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

 

	 	3.2.6	immediately
    notify the Lender of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating
    to the Borrower Company’s assets, business or revenue or relating to the Borrower Equity Interest;

 

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

 

	 	3.2.8	without
    the prior written consent of the Lender, not cause the Borrower Company to sell, transfer, mortgage or dispose of in any manner
    any material assets of the Borrower Company or legal or beneficial interest in the material business or revenues of the Borrower
    Company, or allow the encumbrance thereon of any security interest, and refrain from any action/omission that may have a material
    impact on the assets, business and liabilities of the Borrower Company;

 

	 	3.2.9	appoint
    any designee of the Lender as the director or the executive director of the Borrower Company, at the request of the Lender;

 

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

 

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

 

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

 

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

 

    	 	 	 

     

    

 

	4	Liability
    for Default

 

	 	4.1	If
    the Borrower materially breaches any provision under this Agreement, or fails to perform, performs incompletely or delays
    to perform any obligation under this Agreement, it shall constitute a breach under this Agreement on the part of the Borrower.
    The Lender is entitled to require the Borrower to rectify or take remedial measures. If the Borrower fails to rectify or take
    remedial measures within ten (10) days after the Lender delivers a written notice to the Borrower and requires for rectification
    (or within any other reasonable period required by the Lender), the Lender is entitled to, at its sole discretion, (1) terminate
    this Agreement and require the Borrower to compensate all the losses; or (2) require specific performance of the obligations
    of the Borrower under this Agreement and require the Borrower to compensate all the losses. This Section shall not prejudice
    any other rights of the Lender under this Agreement

 

	 	4.2	Unless
    otherwise required by the applicable laws, the Borrower shall not terminate this Agreement unilaterally in any event. Unless
    otherwise expressly set forth in this Agreement or requested by the Lender in writing, the Borrower shall not, in any event,
    repay the principal of the Loan or any interest thereon before the termination of the term of the Loan.

 

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

 

	5	Notices

 

	 	5.1	All
    notices and other communications required to be given pursuant to this Agreement or otherwise given in connection with this
    Agreement shall be delivered personally, or sent by registered mail, prepaid postage, a commercial courier service, facsimile
    transmission or email to the address of such Party set forth below. The dates on which notices shall be deemed to have been
    effectively given shall be determined as follows:

 

	 	5.1.1	Notices
    given by personal delivery shall be deemed effectively given on the date of receipt at the address set forth below, or the
    date on which such notices are placed at the address set forth below

 

	 	5.1.2	Notices
    given by courier service, registered mail or prepaid postage shall be deemed effectively given on the date of receipt, refusal
    or return for any reason at the address set forth below;

 

    	 	 	 

     

    

 

	 	5.1.3	Notices
    given by facsimile transmission shall be deemed effectively given on the date of successful transmission to the Fax no. set
    forth below (as evidenced by an automatically generated confirmation of transmission). Notices given by email shall be deemed
    effectively given on the date of successful transmission, provided that the sending Party has received a system message indicating
    successful transmission or has not received a system message within 24 hours indicating failure of delivery or return of email.

 

	 	5.2	For
    the purpose of notification, each party’s address is as follows:
	 	 	 
	 	 	Lender:
    Jiaxing Bangtong Electronic technology Co.,
    Ltd.
	 	 	Address:
    ***
	 	 	 
	 		Borrower:
    Xianyi HAO
	 	 	Address:***
	 	 	 
	 	5.3	Any
    Party may at any time change its address for notices by a notice delivered to the other Party in accordance with the terms
    of this Section.  

 

	6	Confidentiality

 

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

 

	7	Governing
    Law and Resolution of Disputes

 

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

 

	 	7.2	In
    the event of any dispute with respect to the interpretation and performance of this Agreement, the Parties shall first resolve
    the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute, either Party
    may submit the relevant dispute to the Shenzhen Court of International Arbitration(Shenzhen Arbitration Commission) for arbitration,
    in accordance with the arbitration rules of such arbitration commission effective at that time. The place of the hearing of
    the arbitration shall be Shenzhen. The arbitration award shall be final and binding on both Parties.

 

    	 	 	 

     

    

 

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

 

	8	Miscellaneous

 

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

 

	 	8.2	Any
    amendment, change and supplement to this Agreement shall be made in writing by all of the Parties. Any amendment agreement
    and supplementary agreement duly executed by the Parties hereto with regard to this Agreement shall constitute an integral
    part of this Agreement, and shall have equal legal validity as this Agreement.

 

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

 

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

 

	 	8.5	Any
    obligations that occur or that are due as a result of this Agreement upon the expiration or early termination of this Agreement
    shall survive the expiration or early termination thereof. The provisions of Sections 4, 6, 7 and this Section 8.5 shall survive
    the termination of this Agreement.

 

	 	8.6	This
    Agreement shall be written in English language in two copies, each Party having one copy.

 

    	 	 	 

     

    

 

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

 

Lender:
Jiaxing Bangtong Electronic technology Co., Ltd.

 

	By:	/s/
                                         Xianyi Hao
	 
	Name:	Xianyi
    HAO	 
	Title:	Legal
    Representative	 

 

Borrower:
Xianyi Hao

 

	By:	/s/
                                         Xianyi Hao
	 

 

    	 	 	 

     

    

 

Loan
Agreement

 

This
Loan Agreement (the “Agreement”) is made and entered into by and between the Parties below as of November 6, 2018
in Jiaxing, the People’s Republic of China (“China” or the “PRC”):

 

	 	(1)	Jiaxing
    Bangtong Electronic technology Co., Ltd. (嘉兴市邦同电子科技有限公司)(the
    “Lender”), a wholly foreign-owned enterprise, organized and existing under the laws of the PRC, with its registered
    address at ***

 

	 	(2)	Nan
    DING(丁楠) (the “Borrower”), a citizen of China with Identification No.: ***

 

In
this Agreement, each of the Lender and the Borrower shall be hereinafter referred to as a “Party” individually, and
as the “Parties” collectively.

 

Whereas:

 

	1.	As
    of the date hereof, the Borrower holds 2.45% of equity interests in Shenzhen Bangtong Ecommerce Co., Ltd.(深圳市邦同电子商务有限公司)
    (the “Borrower Company”). All of the equity interest now held and hereafter acquired by the Borrower in the Borrower
    Company shall be referred to as the “Borrower Equity Interest;”

 

	2.	The
                                         Lender agrees to provide the Borrower with a loan in the aggregate amount of RMB 300,000
                                         to be used for the purposes set forth in this Agreement.

 

After
friendly consultation, the Parties agree as follows:

 

	1	Loan

 

	 	1.1	In
    accordance with the terms and conditions of this Agreement, the Lender agrees to provide to the Borrower a loan in the aggregate
    amount of RMB 300,000 (the “Loan”). Once the Lender receives a notice from the Borrower requesting the provision
    of all or any part of the Loan during the term of this Agreement, the Lender shall within one (1) month after receiving such
    notice provide that portion of Loan to the Borrower. The term of the Loan shall be the term of this Agreement. During the
    term of the Loan, upon occurrence of any of the following circumstances, the term of the Loan shall accelerate and the Borrower
    shall immediately repay the full amount of the Loan (and any interest thereon):

 

	 	1.1.1	Thirty
    (30) days elapsed after the Borrower receives a written notice from the Lender requesting repayment of the Loan (and all interest
    thereon);

 

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

 

	 	1.1.3	The
    Borrower ceases (for any reason) to be a shareholder of the Borrower Company or its affiliates, and the Borrower is not an
    employee of the Lender, the Borrower Company or their affiliates;

 

    	 	 	 

     

    

 

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

 

	 	1.1.5	According
    to the applicable laws of China, foreign investors are permitted to invest in the principal business that is currently conducted
    by the Borrower Company in China, with a controlling stake and/or in the form of wholly foreign-owned enterprises, the competent
    government authorities of China begin to approve such investments, and the Lender elects to exercise the exclusive option
    under the Exclusive Option Agreement (the “Exclusive Option Agreement”) described in this Agreement; or the Lender
    or the Borrower Company has violated or committed a breach of its representations, warranties, covenants or other obligations
    under the Exclusive Option Agreement;

 

	 	1.1.6	The
    Borrower Company failed to obtain or renew any governmental approval or license necessary for the operation of its core business.

 

	 	1.2	The
    Borrower agrees to accept the aforementioned Loan provided by the Lender, and hereby agrees and undertakes to use the Loan
    solely for the contribution of the registered capital of the Borrower Company, or for the working capital of the Borrower
    Company. Without the Lender’s prior written consent, the Borrower shall not use the Loan for any purpose other than
    as set forth herein.

 

	 	1.3	The
    Lender and the Borrower hereby agree and confirm that the Borrower shall repay the Loan only through the following means (or
    other means approved by the Lender): by transferring the Borrower Equity Interest in whole to the Lender or the Lender’s
    designated persons (legal or natural persons) pursuant to the Lender’s exercise of its right to acquire the Borrower
    Equity Interest under the Exclusive Option Agreement, and any proceeds from the transfer of the Borrower Equity Interest (to
    the extent permissible) shall be used by the Borrower to repay the Loan (principal and any interest thereon) to the Lender
    or the Lender’s designated persons, in accordance with this Agreement and in the manner designated by the Lender.

 

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

 

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

 

    	 	 	 

     

    

 

	 	1.6	When
    the Borrower transfers the Borrower Equity Interest to the Lender or the Lender’s designated person(s) in accordance
    with the Exclusive Option Agreement, (1) in the event that the transfer price of such Borrower Equity Interest equals to or
    is lower than the principal of the Loan under this Agreement, the Loan under this Agreement shall be an interest-free loan,
    (2) in the event that the transfer price of such Borrower Equity Interest exceeds the actual principal amount of the Loan
    under this Agreement, the excess over the actual principal amount shall be the interest of the Loan under this Agreement to
    the extent not prohibited by the PRC laws, and all of such interest shall be repaid by the Borrower to the Lender or otherwise
    paid by the Borrower to the Lender’s designated person(s) through legal means within ten (10) days after receiving the
    transfer price.

 

	2	Representations
    and Warranties

 

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

 

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

 

	 	2.1.2	The
    Lender has the legal capacity to execute and perform this Agreement. The execution and performance by the Lender of this Agreement
    do not violate the Lender’s articles of association or other organizational documents, and the Lender has obtained all
    necessary and proper approvals and authorizations for the execution and performance of this Agreement; and

 

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

 

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

 

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

 

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

 

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

 

    	 	 	 

     

    

 

	3	Borrower’s
    Covenants

 

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

 

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

 

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

 

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

 

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

 

	 	3.1.5	at
    the request of the Lender, to appoint any persons designated by the Lender as the director or the executive director of the
    Borrower Company;

 

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

 

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

 

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

 

	 	3.2.3	without
    the prior written consent of the Lender, not sell, transfer, mortgage or dispose of in any other manner the legal or beneficial
    interest in the Borrower Equity Interest, or allow the encumbrance thereon of any security interest, except in accordance
    with the Equity Interest Pledge Agreement, the Exclusive Option Agreement and the Power of Attorney;

 

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

 

    	 	 	 

     

    

 

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

 

	 	3.2.6	immediately
    notify the Lender of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating
    to the Borrower Company’s assets, business or revenue or relating to the Borrower Equity Interest;

 

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

 

	 	3.2.8	without
    the prior written consent of the Lender, not cause the Borrower Company to sell, transfer, mortgage or dispose of in any manner
    any material assets of the Borrower Company or legal or beneficial interest in the material business or revenues of the Borrower
    Company, or allow the encumbrance thereon of any security interest, and refrain from any action/omission that may have a material
    impact on the assets, business and liabilities of the Borrower Company;

 

	 	3.2.9	appoint
    any designee of the Lender as the director or the executive director of the Borrower Company, at the request of the Lender;

 

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

 

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

 

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

 

    	 	 	 

     

    

 

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

 

	4	Liability
    for Default

 

	 	4.1	If
    the Borrower materially breaches any provision under this Agreement, or fails to perform, performs incompletely or delays
    to perform any obligation under this Agreement, it shall constitute a breach under this Agreement on the part of the Borrower.
    The Lender is entitled to require the Borrower to rectify or take remedial measures. If the Borrower fails to rectify or take
    remedial measures within ten (10) days after the Lender delivers a written notice to the Borrower and requires for rectification
    (or within any other reasonable period required by the Lender), the Lender is entitled to, at its sole discretion, (1) terminate
    this Agreement and require the Borrower to compensate all the losses; or (2) require specific performance of the obligations
    of the Borrower under this Agreement and require the Borrower to compensate all the losses. This Section shall not prejudice
    any other rights of the Lender under this Agreement

 

	 	4.2	Unless
    otherwise required by the applicable laws, the Borrower shall not terminate this Agreement unilaterally in any event. Unless
    otherwise expressly set forth in this Agreement or requested by the Lender in writing, the Borrower shall not, in any event,
    repay the principal of the Loan or any interest thereon before the termination of the term of the Loan.

 

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

 

	5	Notices

 

	 	5.1	All
    notices and other communications required to be given pursuant to this Agreement or otherwise given in connection with this
    Agreement shall be delivered personally, or sent by registered mail, prepaid postage, a commercial courier service, facsimile
    transmission or email to the address of such Party set forth below. The dates on which notices shall be deemed to have been
    effectively given shall be determined as follows:

 

	 	5.1.1	Notices
    given by personal delivery shall be deemed effectively given on the date of receipt at the address set forth below, or the
    date on which such notices are placed at the address set forth below

 

	 	5.1.2	Notices
    given by courier service, registered mail or prepaid postage shall be deemed effectively given on the date of receipt, refusal
    or return for any reason at the address set forth below;

 

    	 	 	 

     

    

 

	 	5.1.3	Notices
    given by facsimile transmission shall be deemed effectively given on the date of successful transmission to the Fax no. set
    forth below (as evidenced by an automatically generated confirmation of transmission). Notices given by email shall be deemed
    effectively given on the date of successful transmission, provided that the sending Party has received a system message indicating
    successful transmission or has not received a system message within 24 hours indicating failure of delivery or return of email.

 

	 	5.2	For
    the purpose of notification, each party’s address is as follows:
	 	 	 
	 	 	Lender:
    Jiaxing Bangtong Electronic technology Co.,
    Ltd.
	 	 	Address:***
	 	 	 
	 	 	Borrower:
    Nan DING
	 	 	Address:***
	 	 	 
	 	5.3	Any
    Party may at any time change its address for notices by a notice delivered to the other Party in accordance with the terms
    of this Section.

 

	6	Confidentiality

 

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

 

	7	Governing
    Law and Resolution of Disputes

 

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

 

	 	7.2	In
    the event of any dispute with respect to the interpretation and performance of this Agreement, the Parties shall first resolve
    the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute, either Party
    may submit the relevant dispute to the Shenzhen Court of International Arbitration(Shenzhen Arbitration Commission) for arbitration,
    in accordance with the arbitration rules of such arbitration commission effective at that time. The place of the hearing of
    the arbitration shall be Shenzhen. The arbitration award shall be final and binding on both Parties.

 

    	 	 	 

     

    

 

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

 

	8	Miscellaneous

 

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

 

	 	8.2	Any
    amendment, change and supplement to this Agreement shall be made in writing by all of the Parties. Any amendment agreement
    and supplementary agreement duly executed by the Parties hereto with regard to this Agreement shall constitute an integral
    part of this Agreement, and shall have equal legal validity as this Agreement.

 

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

 

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

 

	 	8.5	Any
    obligations that occur or that are due as a result of this Agreement upon the expiration or early termination of this Agreement
    shall survive the expiration or early termination thereof. The provisions of Sections 4, 6, 7 and this Section 8.5 shall survive
    the termination of this Agreement.

 

	 	8.6	This
    Agreement shall be written in English language in two copies, each Party having one copy.

 

    	 	 	 

     

    

 

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

 

Lender:
Jiaxing Bangtong Electronic technology Co., Ltd.

 

	By:	/s/
                                         Qi Wang
	 
	Name:	Qi
    WANG	 
	Title:	Legal
    Representative	 

 

Borrower:
Nan DING  

 

	By:	/s/
                                         Nan Ding

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