Common use of Exercise Of The Right Of The Pledge Clause in Contracts

Exercise Of The Right Of The Pledge. 8.1 The Pledgors may not transfer or assign the Equity Interests without prior written approval from the Pledgee during the term of this Pledge. 8.2 The Pledgee shall give a Notice of Default to the Pledgor when the Pledgee exercises its rights under this Pledge. 8.3 Subject to the remedy period as provided for in Section 7.3, the Pledgee may exercise the right to dispose of the Equity Interests at any time after the Pledgee gives a Notice of Default in accordance with Section 7.3 or 8.2. 8.4 The Pledgee is entitled to have preemptive rights to receive payments out of the proceeds of the auction or sale of the whole or part of the Equity Interests pledged by the Pledgors to the Pledgee in accordance with legal procedure until the outstanding consulting and service fees and all other payables under the Exclusive Consulting and Services Agreement are paid. 8.5 The Pledgors and or Shanghai Global Career shall not hinder the Pledgee from disposing of the Equity Interests in accordance with this Agreement and shall provide necessary assistance so that the Pledgee could realize its rights under this Pledge. 8.6 When the Equity Interests of any Pledgors shall have been disposed of as a result of the exercise of the Pledgee’s right under this Pledge, such Pledgors shall not have any right to claim compensation or reimbursement from Shanghai Global Career and hereby irrevocably waive such rights (if any).

Exercise Of The Right Of The Pledge. 8.1 The Pledgors may Pledgor shall not transfer or assign the Equity Interests Pledge without prior written approval from consent of the Pledgee during prior to the term full repayment of this Pledgethe fees under the Service Agreement. 8.2 The Pledgee shall give a Notice of Default to the Pledgor when before the Pledgee exercises its rights under this exercise of the right of Pledge. 8.3 Subject to the remedy period as provided for in Section Article 7.3, the Pledgee may simultaneously exercise the right to dispose of the Equity Interests Pledge at any the time after when the Pledgee gives a Notice of Default is given in accordance with Section Article 7.3 or 8.2may exercise such right after such Notice of Default is given. 8.4 The Pledgee is shall be entitled to have preemptive rights realize the priority right to receive payments out be paid from the monies of the proceeds of the conversion, auction or sale of the whole or part of the Equity Interests Interest pledged by the Pledgors to the Pledgee in accordance with herein through legal procedure procedures until the outstanding consulting and service fees under the Service Agreement and all other payables under the Exclusive Consulting and Services Agreement payment due are fully paid. 8.5 The Pledgors and or Shanghai Global Career Pledgor shall not hinder prevent the Pledgee from disposing of the Equity Interests Pledge in accordance with this Agreement and shall provide give necessary assistance so for the Pledgee to realize its Pledge. 9.1 The Pledgor shall not be entitled to donate or assign his rights and obligations under this Agreement without prior consent of the Pledgee. 9.2 This Agreement shall be binding upon the Pledgor and his successor and shall be binding upon the Pledgee and its successor and assignee. 9.3 The Pledgee may at any time assign all or any rights and obligations under the Service Agreement to the designated person (natural person/ legal person). In this case, the assignee shall, like one party to this Agreement, have the same rights and undertake the same obligations herein as the Pledgee. In the event that the Pledgee could realize its assigns the rights and obligations under this Pledge. 8.6 When the Equity Interests of any Pledgors shall have been disposed of as a result of Service Agreement, the exercise Pledgor shall, at the request of the Pledgee’s right under this Pledge, sign relevant agreements and/or documents with respect to such Pledgors assignment. 9.4 After the change of Pledge resulting from the assignment, the new parties to the pledge shall not have any right to claim compensation or reimbursement from Shanghai Global Career and hereby irrevocably waive such rights (if any)re-execute a pledge contract.