Common use of Effectiveness and Term of Agreement Clause in Contracts

Effectiveness and Term of Agreement. 12.1 This Agreement shall become effective upon fulfillment of all the following conditions: (i) This Agreement has been duly executed by the Parties hereto; and (ii) The Equity Pledge hereunder has been recorded in the shareholders’ register of the Company in accordance with law. The Pledgor shall provide the Pledgee with the evidence, in a form satisfactory to the Pledgee, of the aforesaid recording of the Equity Pledge in the shareholders’ register, and, after the effectiveness of this Agreement, as permissible under the PRC Laws, provide the pledge certificate issued by the industry and commerce administration upon the request of the Pledgee and in a form satisfactory to the Pledgee. 12.2 The term of this Agreement shall end when the Contractual Obligations shall have been performed in full or when the Secured Indebtedness shall have been satisfied in full.