Exercise of the Right of Pledge. 8.1 Party B shall not transfer or assign the Equity Interest without prior written approval from Party A prior to the full repayment of the Consulting Fees under the Service Agreement.
8.2 Party A shall give Notice of Default to Party B when Party A exercises its right to foreclose on the Pledge.
8.3 Subject to Article 7.3, Party A may exercise the right to foreclose on the Pledge at any time provided Party A gives the Notice of Default pursuant to Article 7.3.
8.4 Party A is entitled to have priority in receiving payment or proceeds from the auction or sale of all or part of the Equity Interest pledged herein in accordance with applicable law until the Consulting Fees and all other payables under the Service Agreement are repaid.
8.5 Party B shall not hinder Party A from foreclosing on the Pledge in accordance with this Agreement and shall give necessary assistance so that Party A may effectively realize the value of the Pledge.
Exercise of the Right of Pledge. 5.1 In the event that the Pledgor fails to pay off its debts under the Loan Agreement or the Share Rights Agreement to the Pledgee on time, or [VIE] fails to perform its payment obligation or other relevant obligations to the Pledgee under the Trademark License Agreement or the Technical Services Agreement, or the Pledgor breaches its responsibilities or obligations under this Agreement, the Pledgee shall be entitled to, within a scope permitted by the applicable laws, exercise the right of pledge at any time it considers appropriate within the duration of the right of pledge and in a method it considers appropriate. Such methods shall include but not be limited to:
5.1.1 negotiating with the Pledgor on paying off the Secured Debts by transferring to the Pledgee the Pledged Rights;
5.1.2 selling off the Pledged Rights, and paying off the Secured Debts with the proceeds from the sale;
5.1.3 retaining a competent institution to auction total or partial Pledged Rights; and/or
5.1.4 disposing of the Pledged Rights by taking other appropriate measures permitted by the applicable laws.
5.2 In the process when the Pledgee disposes of the Pledged Rights according to the preceding paragraph, the Pledgee shall be entitled to:
5.2.1 substitute the Pledgor to exercise the powers or rights relevant to the Pledged Rights as [VIE]’s shareholder;
5.2.2 pay necessary money for exercising any power or right imposed by this Agreement or the law upon the Pledgee;
5.2.3 exercise in a way it considers appropriate or permit other person to exercise any power or right under the Pledged Rights;
5.2.4 recover or claim the money payable to the Pledgor arising from the Pledged Rights for paying off the Secured Debts;
5.2.5 with respect to claim by any person for the rights relevant to the Pledged Rights in any respect, make settlement, reach reconciliation, resort to arbitration or litigation proceedings or seek any other measures it considers appropriate;
5.2.6 take all other actions permitted by law for the purpose of enforcing any of its rights under this Agreement.
5.3 At the Pledgee’s request, the Pledgor must assist the Pledgee in obtaining all necessary approvals or consents relevant to the Pledgee’s enforcement of its credit rights and the right of pledge.
5.4 Within the duration of the right of pledge, the Pledgee shall be entitled to collect the legal fruits of the Pledged Rights.
5.5 All the money collected by the Pledgee from the exercise of its right of pledge (including...
Exercise of the Right of Pledge. In the event that the Pledgor fails to pay off its debts under the Loan Agreement or the Share Rights Agreement to the Pledgee on time, or IAD Company fails to perform its payment obligation or other relevant obligations to the Pledgee under the Trademark License Agreement or the Technical Services Agreement, or the Pledgor breaches its responsibilities or obligations under this Agreement, the Pledgee shall be entitled to, within a scope permitted by the applicable laws, exercise the right of pledge at any time it considers appropriate within the duration of the right of pledge and in a method it considers appropriate. Such methods shall include but not be limited to:
Exercise of the Right of Pledge. 8.1 Until full discharge and performance of all fees and obligations under the Agreements, the Xxxxxxx may not transfer the Equity without written approval of the Pledgee.
8.2 The Pledgee shall give the Xxxxxxx a Notice of Default, if it is to exercise the Right of Pledge.
8.3 Subject to Section 7.3 hereof, the Pledgee may exercise the Right of Pledge at the same time when it gives a Notice of Default or at any time after giving a Notice of Default under Section 7.3 hereof.
8.4 The Pledgee has the priority right to be paid, according to statutory procedures, with all or part of the pledged Equity at an evaluated value or with the proceeds derived from auction or sale of the pledged Equity to the full performance of the Agreements (including but not limited to full discharge of all debts and other amounts payable under the Agreements).
8.5 The Xxxxxxx shall not hinder, but shall give necessary assistance in, the Pledgee’s exercise of the Right of Pledge.
Exercise of the Right of Pledge. 8.1 Without the written consent of the Pledgee, no Pledgor may transfer its Equity in Party C.
8.2 The Pledgee may issue a Default Notice to the Pledgors at the time of exercising the Right of Pledge.
8.3 Subject to the provisions of Article 7.3, the Pledgee may exercise at the time of or at any time after issuing the Default Notice in accordance with Article 8.2 the right to implement the pledge.
8.4 The Pledgee may be paid in priority in accordance with legal procedures with the price at which all or part of the Equity pledged hereunder is transferred, auctioned or sold, until the Secured Debts under the Transaction Documents are fully offset.
8.5 When the Pledgee dispose of the pledge in accordance with this Agreement, the Pledgor and Party C shall render necessary assistance, so that the Pledgee may exercise the Right of Pledge pursuant to this Agreement.
Exercise of the Right of Pledge. 7.1 The Pledgor shall not transfer the Pledged Equity Interest before his obligations under the Loan Agreement have been fully performed and without the prior written consent of the Pledgee.
7.2 The Pledgee shall give a notice to the Pledgor when the Pledgee exercises the Right of Pledge.
7.3 Subject to Article 6.3, the Pledgee may exercise the Right of Pledge when it gives a Notice of Default in accordance with Article 6.3 or at any time thereafter.
7.4 The Pledgee shall be entitled to be first compensated from the money converted from, or the proceeds from auction or sale of, all or part of the equity interest hereunder in accordance with statutory procedures until the outstanding debts and all other payables of the Pledgor under the Loan Agreement are repaid.
7.5 When the Pledgee disposes of the Right of Pledge in accordance with this Agreement, the Pledgor shall not pose any obstacles, and shall give necessary assistance in this regard so that the Pledgee can realize its Right of Pledge.
Exercise of the Right of Pledge. 8.1 Before all obligations under the Main Agreements are fulfilled, the Xxxxxxx shall not transfer the Pledged Equity without prior written consent of the Pledgee.
8.2 In case of an Event of Default referred to in Article 7, the Pledgee shall issue a notice of default to the Xxxxxxx when exercising the right of pledge.
8.3 Subject to the provisions of Article 7.3, the Pledgee may dispose of the right of pledge at the same time as or at any time after issuing the notice of default in accordance with Article 7.3.
8.4 The Pledgee shall be entitled to transfer all or part of the Pledged Equity hereunder at its discounted value in accordance with legal procedures, or to have priority of payment from the auction or sales of the equity, till all obligations under the Main Agreements are fulfilled. If the Pledgee decides to exercise the right of pledge, the Xxxxxxx undertakes to transfer all its shareholders’ rights to the Pledgee.
8.5 When the Pledgee disposes the right of pledge in accordance with this Agreement, the Xxxxxxx shall, without any obstruction, provide necessary and active assistance to enable the Pledgee to realize its right of pledge.
Exercise of the Right of Pledge. 7.1. Upon the occurrence of an Event of Statutory Default, the Pledgee has, with due regard to the relevant provisions of the Existing Rights of Pledge, the Permitted Right of Pledge and the Amended Intercreditor Agreement, the right to exercise all rights and powers which the Pledgee has under the laws of Curaçao as holder of a right of pledge over the Shares and the Pledgee shall be authorized to sell the Shares or part thereof, in accordance with Section 3:248 of the CCC, without prejudice to the provision of Section 3:251 of the CCC, in order to recover the proceeds thereof.
7.2. In the event the Pledgee enforces the Right of Pledge, the Pledgee shall, with due regard to the relevant provisions of the Existing Rights of Pledge, following payment of the execution costs from the proceeds, allocate the net proceeds to fulfill the Secured Obligations.
7.3. The Pledgee does not bear the obligations referred to in Sections 3:249 and 3:252 of the CCC towards others than the Pledgor.
Exercise of the Right of Pledge. 7.1. Upon the occurrence of an Event of Statutory Default, the Pledgee has, with due regard to the relevant provisions of the Existing Rights of Pledge, the right to exercise all rights and powers which the Pledgee has under the laws of Curaçao as holder of a right of pledge over the Shares and the Pledgee shall be authorized to sell the Shares or part thereof, in accordance with Section 3:248 of the CCC, without prejudice to the provision of Section 3:251 of the CCC, in order to recover the proceeds thereof.
7.2. In the event the Pledgee enforces the Right of Pledge, the Pledgee shall, with due regard to the relevant provisions of the Existing Rights of Pledge, following payment of the execution costs from the proceeds, allocate the net proceeds to fulfill the Secured Obligations.
7.3. The Pledgee does not bear the obligations referred to in Sections 3:249 and 3:252 of the CCC towards others than the Pledgor.
Exercise of the Right of Pledge. 7.1. Upon the occurrence of an Event of Statutory Default, the Pledgee has, with due regard to the relevant provisions of the Existing Right of Pledge, the right to exercise all rights and powers which the Pledgee has under the laws of the Netherlands Antilles as holder of a right of pledge over the Shares and the Pledgee shall be authorized to sell the Shares or part thereof, in accordance with Section 3:248 of the NACC, without prejudice to the provision of Section 3:251 of the NACC, in order to recover the proceeds thereof.
