DISCHARGE OF THE PLEDGE. 11.1 The Pledgee shall grant an express release of the Pledge, as soon as is reasonably practicable upon demand of the Pledgor, as soon as all Secured Obligations have been unconditionally and irrevocably performed and discharged in full and there is no possibility of any further Secured Obligations coming into existence. 11.2 The Pledgee shall inform the Companies of such a release, and shall provide the Pledgor with a power of attorney in favor of the Pledgee designated by such Pledgor for the purpose of recording the release of the Pledge in the Register. 11.3 Forthwith upon such release being granted, the Pledgee shall return to the Pledgor any Pledged Assets in their possession and such Pledgor shall take delivery thereof.
Appears in 4 contracts
Samples: Asset Transfer Agreement (Sundance Strategies, Inc.), Asset Transfer Agreement (Sundance Strategies, Inc.), Nibs Transfer Agreement (Sundance Strategies, Inc.)
