Common use of Exercise of Pledge Clause in Contracts

Exercise of Pledge. 8.1 Prior to the full payment of the consulting and service fees described in the Business Cooperation Agreement, without the Pledgee’s written consent, Pledgor shall not assign the Equity Interest in Party C. 8.2 Pledgee may issue a Notice of Default to Pledgor when exercising the Pledge. 8.3 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 7.2. 8.4 Pledgee is entitled to convert the Equity Interests of Party C hereunder, in whole or in part, into money for offset or have priority in satisfying his claim from the proceeds of auction or sale thereof in accordance with legal procedures, until the debts and all other liabilities of Party C under Business Cooperation Agreement are fully and completely repaid. 8.5 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

Exercise of Pledge. 8.1 Prior to the full payment of the consulting and service fees described in the Business Cooperation Agreement, without Without the Pledgee’s written consent, Pledgor shall not assign the Pledge or the Equity Interest in Party C. 8.2 Pledgee may issue a Notice of Default to Pledgor when exercising the Pledge. 8.3 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after concurrently with the issuance of the Notice of Default in accordance with Section 7.28.2 or at any time after the issuance of the Notice of Default. 8.4 Pledgee is entitled to convert receive in priority compensation from the transfer, auction or sale of all or part of the Equity Interests of Party C hereunder, in whole or in part, into money for offset or have priority in satisfying his claim from the proceeds of auction or sale thereof pledged under this Agreement in accordance with legal procedures, procedures until the debts and all other liabilities of Party C under Business Cooperation Agreement are Secured Obligations is fully and completely repaidpaid. 8.5 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.