Common use of Establishment of Pledge Clause in Contracts

Establishment of Pledge. As security for the respective performance by the Domestic Co and the Pledgors of the Obligations, the Pledgors voluntarily pledge to the Pledgee 100% of the Equity Interest (the “Pledged Equity Interest”), each Pledgor to the extent of its portion of the Equity Interest. The Pledgee hereby accepts from each of the Pledgors such pledge. The obligations and liabilities of the Pledgors hereunder are several and not joint.