Common use of Creation of the Pledge Clause in Contracts

Creation of the Pledge. (1) The Pledgor shall establish the Pledge upon the Pledged Shares in favor of the Pledgee under the terms of this Agreement to secure the Secured Obligations, and the Pledgee shall be granted with the Pledge upon the Pledged Shares in accordance with this Agreement. (2) In furtherance of the establishment of the Pledge, the Pledgor shall, on the Execution Date: 1. indicate the name of the Pledgee as the pledgee on the share certificates representing the Pledged Shares and deliver the said share certificates to the Pledgee; 2. cause the Company to record the Pledgee’s name and address, along with the fact that the Pledge upon the Pledged Shares has been established, in the shareholder registry of the Company and provide the Pledgee with a certified true copy of the original shareholder registry reflecting such recordation; and 3. execute and deliver to the Pledgee a written (i) letter of consent for disposal in the form attached to this Agreement as Exhibit 1, and (ii) certificate of transfer in the form attached to this Agreement as Exhibit 2, each affixed with the registered personal seal of the Pledgor, and provide two (2) copies of the certificate of the registered personal seal to the Pledgee. (3) In addition to those specified in Section 2(2), the Pledgor shall take all necessary actions, including the preparation of documents and other necessary measures as reasonably requested by the Pledgee to establish, maintain and perfect the Pledge.