Common use of Exercise of the Pledge Clause in Contracts

Exercise of the Pledge. 8.1 Before the completion of the obligations under the main agreements, including but not limited to the full payment of the consultancy and service fees referred to in the Business Cooperation Agreement, the Pledgor shall not transfer the pledge or equity in Party C without the written consent of the Pledgee. 8.2 The Pledgee could issue a written Notice of Default to the Pledgor when it exercises the Pledge. 8.3 Subject to the provisions of Section 7.3, the 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 The Pledgee shall have the right of priority to get paid for the transfer, auction or sale of the price of all or part of the equity pledged under this agreement in accordance with legal procedures, or to sign an agreement with the Pledgor to purchase the equity by means of the monetary value determined by reference to the market price of the pledge, until the satisfaction of all the secured obligations under this agreement (including, but not limited to, all outstanding payments due and payable under the Business Cooperation Agreement and all other payments due to the Pledgee) have been fulfilled. 8.5 When the Pledgee disposes the pledge under this agreement, the Pledgor and Party C shall provide necessary assistance to enable the Pledgee to exercise the pledge under this agreement.

Exercise of the Pledge. 8.1 Before 11.1 The Pledgor shall not transfer or assign the Pledged Equity without prior written approval from the Pledgee prior to the completion of performing all the obligations under the main agreements, including but not limited to the full payment Main Agreement. 11.2 In case of the consultancy and service fees referred to occurrence of event of default indicated in the Business Cooperation AgreementArticle 8, the Pledgor Pledgee shall not transfer the pledge or equity in Party C without the written consent give a notice of the Pledgee. 8.2 The Pledgee could issue a written Notice of Default default to the Pledgor when it the Pledgee exercises the Pledge. 8.3 Subject to the provisions right of Section 7.3, pledge; the Pledgee may exercise the right to enforce the Pledge of pledge at any time after when the issuance Pledgee gives a notice of the Notice of Default default in accordance with Section 7.2Article 8.3 or thereafter. 8.4 11.3 The Pledgee shall have is entitled to sale in accordance with legal procedure or disposes in other manners the Pledged Equity. If the Pledgee decides to exercise its pledge rights, the Pledgor promises to transfer all of its shareholder’s right to Pledgee. In addition, the Pledgee has the right to convert the value of all or party of equity interests pursuant to this Agreement into money in compliance with legal procedure, or has priority to get paid for of compensation from the transfer, proceeds generated from auction or sale of the price of all selling off full or part of the equity pledged interests under this agreement Agreement. 11.4 The Pledgor shall not hinder the Pledgee from exercising the right of pledge in accordance with legal procedures, or to sign an agreement with the Pledgor to purchase the equity by means of the monetary value determined by reference to the market price of the pledge, until the satisfaction of all the secured obligations under this agreement (including, but not limited to, all outstanding payments due and payable under the Business Cooperation Agreement and all other payments due to the Pledgee) have been fulfilled. 8.5 When shall give necessary assistance so that the Pledgee disposes the pledge under this agreement, the Pledgor and Party C shall provide necessary assistance to enable the Pledgee to exercise the pledge under this agreementcould realize its Pledge.