Equity Pledge. 2.1. As collateral security for the timely and complete payment and performance of all Contract Obligations, the Pledgor hereby pledges to the Pledgee a first security interest in all of the Pledgor’s rights, title and interests, whether now owned or hereinafter acquired by the Pledgor, in the Pledged Equity (the “Equity Pledge”).
2.2. The Pledgor shall have been or will be registered at the local branch of State Administration for Industry and Commerce (“SAIC”) as one of the shareholders of the Domestic Company holding his proportion of the equity interests in the Domestic Company as set forth in Recital (A) above and hold such equity interests free and clear of encumbrances except for the Equity Pledge as provided in this Agreement and/or as otherwise agreed by the Parties.
2.3. The Pledgor hereby undertakes that he will be responsible for recording the Equity Pledge on the register of equityholders (if any) of the Domestic Company on the date hereof or as soon as practicable from the date hereof, and will use his best endeavors to register the Equity Pledge with SAIC (the “Registration of Equity Pledge”). In the event the SAIC requires that the Registration of Equity Pledge be completed by using an equity pledge agreement between the Parties substantially in form stipulated by the SAIC, subject to Section 13.5, the Parties shall enter into an equity pledge agreement in such stipulated form (the “Registration Version”) and the Pledgor shall and hereby undertakes that he will use his best endeavors to register the Equity Pledge with SAIC by using the Registration Version.
2.4. During the term of this Agreement, the Pledgee shall not be liable in any way for impairment in value of the Pledged Equity, nor shall the Pledgor have any right to make any claims against the Pledgee for such impairment in value.
2.5. Upon the occurrence of any Breaching Event, the Pledgee shall have the right to dispose of the Pledged Equity in the manner set forth in Article 4 hereof.
2.6. Without the prior written consent of the Pledgee, the Pledgor shall not increase the registered capital of the Domestic Company by contributing additional capital, or allowing any third party to contribute additional capital to the Domestic Company.
2.7. Without the prior written consent of the Pledgee, the Pledgor shall not consent to the adoption of any shareholders’ resolution or by any other means permit the Domestic Company to declare or distribute any dividends or profits.
2.8. Without th...
Equity Pledge. 2.1 Pledgor hereby pledges the Pledged Equity to Pledgee (“Pledge”) as a security for the full discharge of the Secured Debt.
2.2 Pledgor undertakes that Pledgor’s execution of this Agreement and performance of the obligations hereunder have been approved by the other shareholder of Ambow Sihua, and Pledgor will cause Ambow Sihua to record the equity pledge hereunder on the register of shareholders of Ambow Sihua. Pledgor and Ambow Sihua shall deliver the register of shareholders recording such equity pledge to Pledgee for safekeeping upon execution of this Agreement;
2.3 The Parties agree to register or cause to register the Pledge hereunder with the administrative authorities for industry and commerce in the place where Ambow Sihua is registered. The Pledge will be established at the time when the Pledge is registered with the administrative authorities for industry and commerce in the place where Ambow Sihua is registered. Pledgor, Pledgee and Ambow Sihua shall promptly register the Pledge with the administrative authorities for industry and commerce upon execution of this Agreement. The Parties also acknowledge that, upon execution of this Agreement, the Parties will not raise any question or objection to the effectiveness of this Agreement because of failure to register the Pledge with the administrative authorities for industry and commerce in the place where Ambow Sihua is registered.
Equity Pledge. The Borrower shall irrevocably and unconditionally pledge the Interests to the Lender pursuant to the Equity Pledge Agreement signed among the Borrower, ML Shopping and the Lender dated even date herewith.
Equity Pledge. 2.1 The Xxxxxxx hereby agrees to pledge to Pledgee the Pledged Equity, which it lawfully owns and has the right of disposal, as the Pledgee's interest in the Transaction Agreements, and as the guarantee for the performance of the Contractual Obligations and the discharge of the Secured Debts. Subject to other provisions of this Agreement, the Xxxxxxx’x respective Pledged Equity and Secured Debts are as follows:
2.2 The Xxxxxxx undertakes that he shall record the equity pledge arrangement hereunder (the “Equity Pledge”) in the register of shareholders of the Company on the date of the execution of this Agreement, and shall register the Equity Pledge at the administration for industry and commerce where the Company is registered within a time period agreed upon by the Parties. The Xxxxxxx shall provide the Pledgee with a certificate of registration of the aforesaid Equity Pledge in the register of shareholders of the Company to the satisfaction of the Pledgee.
2.3 During the valid term of this Agreement, unless attributable to the Pledgee’s willful conduct or the Pledgee’s gross negligence with direct causation to the consequence, the Pledgee shall not be held liable to any reduction in the value of the Pledged Equity, and the Xxxxxxx shall have no right to claim any compensation or to make other requests in any way against the Pledgee.
Equity Pledge. 1.1 The Pledgors agree to pledge, in accordance with the terms and conditions hereof, 100% of the Target’s equity they jointly hold (hereinafter referred to as “Pledged Equity”) to the Pledgee, so as to guarantee the full performance of the Contractual Obligations. The Target hereby agrees the Pledgors to so pledge the Pledged Equity to the Pledgee in accordance with the terms and conditions hereof.
1.2 The scope of the equity pledge includes: (i) all service fees and interests receivable by the WFOE under the VIE Agreements; (ii) performance by the Pledgors of other obligations under the VIE Agreements; (iii) discharge and performance by the Pledgors and/ or the Target of all other indebtedness, monetary liabilities or other payment obligations to the Pledgee arising from or in connection with the VIE Agreements, including but not limited to, liquidated damages (if any), compensation and expenses for the realization of hypothecation rights (including but not limited to attorney’s fees, arbitration fees, evaluation and auctions fees of the Pledged Equity, etc., all the above service fees and interests thereof are collectively referred to as “Secured Indebtedness”).
1.3 The Pledgors and the Target agree to, on the signing date hereof, record the pledge of the Pledged Equity hereunder on the register of members of the Target, and hand over the original register of members and the original capital contribution certificates of the Pledgors to the Pledgee for custody.
1.4 The Pledgors promise to procure and cooperate with the Target to complete the registration formalities for the equity pledge within a reasonable time after the execution of this Agreement to the extent permitted by the relevant laws and policies, and to use their utmost efforts to maintain the registration in force. The hypothecation rights arising from the equity pledge hereunder will be established when the registration with the industrial and commercial department in respect of the pledge is completed. The Parties agree that, for the purpose of equity pledge registration, they shall separately sign an Equity Pledge Agreement in the form approved by the industrial and commercial department, and as to matters not covered in this Agreement or inconsistent with the provisions of this Agreement, this Agreement shall prevail to the extent permitted by law.
1.5 During the term of this Agreement, the Pledgee shall not be held liable for any value depreciation of the Pledged Equity, nor have the Ple...
Equity Pledge. 2.1 Pledgor hereby pledges the Pledged Equity to Pledgee (“Pledge”) as a security for the full discharge of the Secured Debt.
2.2 Pledgor and Pledgee shall promptly register the Pledge with the administrative authorities for industry and commerce upon execution of this Agreement if requested by Pledgee. The Parties also acknowledge that, upon execution of this Agreement, the Parties will not raise any question or objection to the effectiveness of this Agreement because of failure to register the Pledge with the administrative authorities for industry and commerce.
Equity Pledge. In order for proper performance of the obligations hereunder, the Lender and the Borrower enter into an Equity Pledge Agreement, whereby the Borrower places in pledge the stock equity it holds in Sogou Information and all other rights associated with the shareholding.
Equity Pledge. 2.1. To secure the timely and complete payment when due (whether at stated maturity, by acceleration or otherwise) of any and all of the payments due by the Target Company under the Master Agreement, including without limitation to consulting and services fees payable to the Pledgee under the Master Agreement (regardless whether the payment is due as a result of the payment date, the requirement of advance payment, or other reasons), Pledgors hereby pledge to Pledgee the security interest in all of Pledgor’s interest, whether now owned or hereafter acquired by Pledgor, in the Equity Interest of the Target Company.
Equity Pledge. 2.1 Each of the Pledgors hereby agrees to pledge all the Pledged Equity Interests legally owned by it and of which it is entitled to dispose to the Pledgee as security for the repayment of the Secured Indebtedness pursuant to this Agreement. The Company hereby agrees that each of the Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. In particular, as of the date of this Agreement: Xxxxx Xxxx shall pledge 45.773% of the Equity Interests in the registered capital of the Company (representing a capital contribution of RMB 924,700) held by him to the Pledgee; Lu Yunfen shall pledge 2.129% of the Equity Interests in the registered capital of the Company (representing a capital contribution of RMB 43,000) held by her to the Pledgee; Fan Meihui shall pledge 2.129% of the Equity Interests in the registered capital of the Company (representing a capital contribution of RMB 43,000) held by him to the Pledgee; Fan Bin shall pledge 2.129% of the Equity Interests in the registered capital of the Company (representing a capital contribution of RMB 43,000) held by him to the Pledgee; Xxxxx Xx shall pledge 2.129% of the Equity Interests in the registered capital of the Company (representing a capital contribution of RMB 43,000) held by him to the Pledgee; Xxxxx Xxxxxxx shall pledge 1.386% of the Equity Interests in the registered capital of the Company (representing a capital contribution of RMB 28,000) held by him to the Pledgee; Liu De shall pledge 17.731% of the Equity Interests in the registered capital of the Company (representing a capital contribution of RMB 358,200) held by him to the Pledgee; Xxx Xxxxxx shall pledge 17.731% of the Equity Interests in the registered capital of the Company (representing a capital contribution of RMB 358,200) held by her to the Pledgee; Yue Bin shall pledge 5.910% of the Equity Interests in the registered capital of the Company (representing a capital contribution of RMB 119,400) held by him to the Pledgee; and Lhasa Heye Investment Management Co., Ltd. shall pledge 2.955% of the Equity Interests in the registered capital of the Company (representing a capital contribution of RMB 59,700) held by it to the Pledgee.
2.2 Each of the Pledgors covenants to register the pledge of equity interests (the “Equity Pledge”) under this Agreement with the competent industrial and commercial registration authority for the Company on the date of this Agreement. The Company covenants to use its best efforts to cooperate ...
Equity Pledge. The Warrantors shall procure that the relevant MOFCOM approval on the equity pledge contemplated under the Equity Pledge Agreements shall have been obtained within forty (40) Business Days after the Closing Date. The Warrantors shall procure that the filing and registration with the relevant administration of industry and commerce with regard to the equity pledge contemplated under the Equity Pledge Agreements shall have been completed within fifty (50) Business Days after the Closing Date.
