adopt a resolution for or impel the VIE Entity to

To: Hunan Qudian Technology Development Co., Ltd. (the “VIE Entity”)

As the guarantee for fulfillment and realization of the guarantee obligation under the Transaction Document, the Pledgor hereby pledges its 100% equity in the VIE Entity to the Pledgee by means of level-1 guarantee. The equity represents all the registered capital of the VIE Entity (“Pledged Equity”).

transfer or dispose of the assets of the VIE Entity in any way;

All payments to be made by Borrowers shall be made without set-off, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by Borrowers shall be made to Agent for the account of Lenders, at Agent’s address and shall be made in Dollars and in immediately available funds, no later than 1:00 p.m. (New York, New York time) on the date specified herein. Any payment received by Agent later than 1:00 p.m. (New York, New York time) shall be deemed to have been received on the following Business Day and any applicable interest or fee shall continue to accrue.

Borrowers’ Loan Accounts. Administrative Agent shall maintain one or more loan account(s) on its books in which shall be recorded # all Loans, Letter of Credit Accommodations and other Obligations and the Collateral, # all payments made by or on behalf of any Borrower or Guarantor and # all other appropriate debits and credits as provided in this Agreement, including fees, charges, costs, expenses and interest. All entries in the loan account(s) shall be made in accordance with Administrative Agent’s customary practices as in effect from time to time.

Condition of Borrowers. The ​ acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from the Borrowers and any other ​ such information concerning the financial condition, business and [[Organization B:Organization]] of the Borrowers and any such other ​ as the ​ requires, and that the Administrative Agent and ​ have no duty, and the ​ is not relying on the Administrative Agent or any Lender at any time, to disclose to the ​ any information relating to the business, [[Organization B:Organization]] or financial condition of the Borrowers or any other ​ (the ​ waiving any duty on the part of the Administrative Agent and ​ to disclose such information and any defense relating to the failure to provide the same).

Indemnification by Borrowers. Each of the Borrowers shall indemnify each Recipient, within ten (10) days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 3.01) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to [[Released U.K. Borrowers:Organization]] by a Lender (with a copy to the applicable Agent), or by the applicable Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error.

Section # Additional Guarantors; Creation of Co-Borrowers; Release of Co-Borrowers.

The Pledgor shall (and shall make sure that the VIE Entity will) do the following within five business days after execution of this Agreement: