Pledge of Equity Interest. 2.1 The Pledgors hereby agree to pledge the Pledged Equity Interest, which they lawfully own and are entitled to dispose of, to the Pledgee in accordance with the provisions of this Agreement as the security for the performance of the Contractual Obligations and the discharge of the Secured Liabilities. The Company hereby agrees to the Pledgors’ pledge of the Pledged Equity Interest to the Pledgee in accordance with the provisions of this Agreement.
2.2 The Pledgors undertake to be responsible for registering the equity interest pledge arrangement (the “Equity Pledge”) under this Agreement on the Company’s register of shareholders immediately on the signing date of this agreement. The Parties shall use their best efforts to apply to the registration authority in charge of the Company for registration of the Equity Pledge under this Agreement immediately after the signing of this Agreement.
2.3 During the valid term of this Agreement, unless attributable to the Pledgee’s willful conduct or the Pledgee’s gross negligence with direct causation to the consequence, the Pledgee shall in no way be held liable to any reduction of the value of the Pledged Equity Interest, and the Pledgors have no right to claim any compensation or other request in any way against the Pledgee.
2.4 Without breaching the provisions of Article 2.3 above, if there is any probability that the value of the Pledged Equity Interest will notably reduce which is sufficient to jeopardize the rights of the Pledgee, the Pledgee may at any time auction or sell the Pledged Equity Interest on behalf of the Pledgors, and may reach agreement with the Pledgors to use the proceeds from such auction or sales to prepay the Secured Liabilities or to deposit such proceeds with the notary office in the place where the Pledgee is domiciled (all expenses so incurred shall be assumed by the Pledgee). Further, if requested by the Pledgee, the Pledgors shall offer additional security interest over other property.
2.5 Upon the occurrence of any Event of Default, the Pledgee has the right to dispose of the Pledged Equity Interest in accordance with Article 4 of this Agreement.
2.6 The Pledgors shall not increase the registered capital of the Company without the Pledgee’s prior consent. The increased capital contribution amount of the Pledgors in the registered capital of the Company as a result of such capital increase of the Company shall be a part of the Pledged Equity Interest.
2.7 No dividend or capital bonus ...
Pledge of Equity Interest. (a) In order to secure the Secured Obligations, the Lien Grantor grants to the Collateral Agent for the benefit of the Secured Parties, effective on [ the date hereof (if such date occurs during a Collateral Period) and otherwise on the first day of any Collateral Period following execution hereof] a continuing security interest in all the following property of the Lien Grantor, whether now owned or existing or hereafter acquired or arising and regardless of where located (the "NEW COLLATERAL"): [describe property being added to the Collateral] The security interests granted by the Lien Grantor pursuant hereto shall terminate in accordance with Section 17 of the Pledge Agreement.
(b) The foregoing Pledges are granted as security only and shall not subject the Collateral Agent or any other Secured Party to, or transfer or in any way affect or modify, any obligation or liability of the Lien Grantor with respect to any of the New Collateral or any transaction in connection therewith.
Pledge of Equity Interest. (a) Each Lien Grantor, in order to secure the Secured Obligation, creates in favor of the Collateral Agent a senior first priority pledge pursuant to section 580 and subsequent sections of the Commercial Code and grant to the Collateral Agent for the equal and ratable benefits of the Secured Parties, effective on the first day of any Collateral Period a continuous security interest on the Shares including all proceeds renewals, accretions and substitutions thereof, as the case may be, whether now owned or existing or hereafter acquired or arising and regardless of where located. Pursuant to section 584 of the commercial code, the Lien Grantor hereby delivers the Shares to the Collateral Agent and the Collateral Agent receives such Shares, receipt whereof is hereby acknowledged. The Collateral Agent shall keep the Shares until the Pledge is cancelled. The Pledge is granted on:
(i) all Equity Interests in any Subsidiary held directly by such Lien Grantor and all of its rights and privileges with respect thereto, and all income and profits thereon, all interest, dividends and other payments and distributions with respect thereto;
(ii) all the capital contributions made and all and any of the rights that it may now have or acquired in the future as regards the issuer of the Shares, as a result of the capital contributions made;
(iii) such Lien Grantor's ownership interest in its Cash Collateral Account and all cash held therein from time to time; and
(iv) all Proceeds of the Collateral described in the foregoing clauses (i) and (ii); The security interests granted by each Lien Grantor pursuant to this Section 2(a) shall terminate in accordance with Section 16.
(b) The Pledges are granted as security only and shall not subject the Collateral Agent or any other Secured Party to, or transfer or in any way affect or modify, any obligation or liability of any Lien Grantor with respect to any of the Collateral or any transaction in connection therewith.
(c) If the Collateral is realized upon and the security interest in the Collateral is not sufficient to satisfy all Secured Obligations, each Lien Grantor acknowledges and agrees that such Lien Grantor shall continue to be liable for any Secured Obligations remaining outstanding and Collateral Agent shall be entitled to pursue full payment thereof.
(d) Each Lien Grantor and the Collateral Agent hereby acknowledge that value has been given, such Lien Grantor has rights in the Collateral or, with respect to any after a...
Pledge of Equity Interest. 2.1 To guarantee the performance by the Pledgor and/or Xxxxxx Education of all obligations and liabilities to the Pledgee under the Master Liability Agreements, the Pledgor agrees to pledge the Pledged Equity hereunder to the Pledgee, and the Pledgee agrees to accept the above Pledged Equity as security, on the terms and conditions hereof.
Pledge of Equity Interest. On or prior to the Effective Date, Adeptus Colorado shall pledge its (or any other Loan Party that holds such applicable Equity Interest) Equity Interest in JV Co. to the Administrative Agent for the holders of the Secured Obligations (as defined in the Security Agreement) in form and substance satisfactory to the Administrative Agent.
Pledge of Equity Interest. 18 SECTION 4. General Representations, Warranties and Covenants .............. 19 SECTION 5.
Pledge of Equity Interest. (a) In order to secure the Secured Obligations, the Company grants to the Collateral Agent for the benefit of the Secured Parties, effective on the date hereof, a continuing security interest in all Equity Interests in the Subsidiary identified in Schedule I hereto held directly by the Company and all of its rights and privileges with respect thereto, and all income and profits thereon, all interest, dividends and other payments and distributions with respect thereto, whether now owned or existing or hereafter acquired or arising and regardless of where located (the "NEW COLLATERAL"). The security interests granted by the Company pursuant hereto shall terminate in accordance with Section 18 of the Pledge Agreement.
(b) The foregoing Pledges are granted as security only and shall not subject the Collateral Agent or any other Secured Party to, or transfer or in any way affect or modify, any obligation or liability of the Company with respect to any of the New Collateral or any transaction in connection therewith.
Pledge of Equity Interest. (a) The Lien Grantor, in order to secure its Secured Obligations, grants to the Collateral Agent for the benefit of the Secured Parties, effective on the first day of any Collateral Period, a continuing security interest in all Equity Interests in the Subsidiary identified in Schedule I hereto held directly by the Lien Grantor and all of its rights and privileges with respect thereto, and all income and profits thereon, all interest, dividends and other payments and distributions with respect thereto, whether now owned or existing or hereafter acquired or arising and regardless of where located (the "ADDITIONAL COLLATERAL"
Pledge of Equity Interest. (1) Party B agrees to pledge to Party A all the equity interest it holds in Beijing Acorn.
(2) If Party B proposes to pledge to any third party the equity interest it holds in Beijing Acorn, it shall provide such third party with all the true information on such equity pledge and such third party shall automatically inherit all the rights and obligations thereunder.
Pledge of Equity Interest. (i) unanimous board approval for the pledge of equity interest in Shanghai UFH;
