Pledge Term. 3.1 The Pledge Right shall become effective as of the date on which it is registered with the administrative authority for industry and commerce (the “Registration Authority”) in the locality of Party C, and the term of the Pledge Right (the “Pledge Term”) shall terminate until the Contractual Obligations and the Secured Indebtedness, for which the Pledge Right provides security, have been fully performed or repaid. The Parties agree that after the execution of this Agreement, the Pledgors and Party A shall promptly submit an application for the creation and registration of Equity pledge to the Registration Authority in accordance with the Measures for the Registration of Equity Pledge with the Administrative Authorities for Industry and Commerce. The Parties further agree to complete all Equity pledge registration formalities and obtain the registration notice issued by the Registration Authority within fifteen (15) days from the date on which the Registration Authority formally accepts the application for registration of Equity pledge. The Parties jointly acknowledge that, for the purpose of completing Equity pledge registration formalities, the Parties shall submit this Agreement or an Equity pledge contract which is executed in the form requested by the administrative authority for industry and commerce in the locality of Party C and truly reflects the information regarding the Pledge Right hereunder (the “Pledge Agreement for Industrial and Commercial Registration”) to the administrative authority for industry and commerce. This Agreement shall apply to the matters not mentioned in the Pledge Agreement for Industrial and Commercial Registration. The Pledgors and Party C shall submit all necessary documents and complete all necessary formalities in accordance with the laws and regulations of the PRC and various requirements of the competent administrative authority for industry and commerce to ensure the Pledge Right is registered as soon as practicable after the submission of application.
3.2 During the Pledge Term, if Party C fails to perform the Contractual Obligations or repay the Secured Indebtedness in accordance with provisions, the Pledgee shall have the right, but not the obligation, to dispose of the Pledge Right in accordance with this Agreement.
Pledge Term. 3.1 The Pledge Right shall come into effect from the date when the Equity Interest pledge under this Agreement is recorded in the register of shareholders of Party C, and the term of the Pledge Right shall continue until all the amounts payable by Party C to the Pledgee under the Business Cooperation Agreement are settled. The Parties agree that within 3 working days from the execution of this Agreement, the Pledgors and Party C shall register their Pledge Right into the register of shareholders of Party C; within 30 working days from the execution of this Agreement, the Pledgors and Party C shall register the Equity Interest pledge hereunder with the industrial and commercial authority of Party C’s domicile.
3.2 During the Pledge Term, if Party C fails to pay the fees, including the consultation services fees under the Business Cooperation Agreement, the Pledgee is entitled to, but not obligated to, dispose of the Equity Pledge hereunder.
Pledge Term. 3.2.1 The Pledge of the Equity Interest under this Agreement shall take effect as of the date at which the shares pledged under this Agreement are recorded in the Register of Shareholders of Yi Xxxx Xxxx He. The Pledge hereby shall have the same term as the Service Agreement.
3.2.2 The Pledgee is entitled to dispose of the Pledge hereunder if Yi Xxxx Xxxx He fails to pay the technical and consulting services fees subject to the Service Agreement during the Pledge.
Pledge Term. 4.1 The pledge shall be continuously effective. The term of pledge will terminate on the earliest of the following: (i) the date on which all Main Agreements have been fully performed, ceased to be effective or terminated (subject to the latest date) and all outstanding guaranteed debts have been paid or otherwise discharged, (ii) the date on which the Pledgee exercises the pledge rights pursuant to the terms and conditions of this Agreement for the purpose of fully realizing the rights it has against the guaranteed debts and the Pledged Equity, or (iii) the date on which the Pledgors transfer, subject to the Exclusive Call Option Agreement, all of their equity to the Pledgee or any third party nominated by the Pledgee and no longer hold any equity of the Company.
4.2 During the effective term of the pledge, in the event any of the shareholders, or the Company or its subsidiaries fail to perform its or their respective obligations under the Main Agreements, the Pledgee will have the right to dispose the Pledged Equity pursuant to the provisions of this Agreement.
4.3 The Pledgee shall have the right to collect any and all dividends or other distributable interests arising out of the equity, and to decide, on its own, the distribution or disposal of such dividends or interests.
Pledge Term. 3.2.1 After entry into this Agreement, the Parties shall register the Pledge with the SAIC of the site of incorporation of Beijing eLong, and Pledgor shall provide a copy of the pledge registration and application with the SAIC to Pledgee within 7 days.
3.2.2 The Pledge shall take effect as of the date when the equity interests under this Agreement are recorded with the SAIC, and shall terminate on the occurrence of either of the following two events: (i) the secured obligation has been fully repaid or settled through other means, or (ii) Pledgee achieves complete control over the secured obligation and exercises that control under the terms of this Agreement.
Pledge Term. 3.1 This Pledge becomes effective immediately after the equity interests pledged hereunder is recorded on the share register of the Domestic Company, and remains valid until the Pledgor and Domestic Company fully performed their obligations under this Agreement and the Main Agreements, or the Beneficiary realize all of its right of pledge provided under this Agreement (the “ Term ”).
3.2 Within fifteen (15) working days upon the execution of this Agreement, the Pledgor and Domestic Company shall record the equity interests pledge on the share register of the Company, and register the Pledge with the State Administration for Industry and Commerce (or Guangzhou local industry and commerce administration authority).
Pledge Term. 3.1 This Pledge becomes effective immediately after the equity interests pledged hereunder is recorded on the share register of the Company, and remains valid until Party B is no longer authorized as shareholder of the Company. Each Party agrees that the Pledgor shall record the equity interests pledge under this Contract on the share register of the Company within three (3) business days upon the execution hereof.
3.2 During the Pledge Term, if Party B fails to perform the obligations in accordance with the provisions of the Major Contracts, the Pledgee is entitled, however not obligated, to dispose the Pledged Equity Interests pursuant to law and this Contract.
Pledge Term. 3.1 The Pledge shall take effect from the date of registration of the pledged equity under this Agreement at the competent administration for market regulation (hereinafter referred to as the “Registry”) in the place where Party C is located, the term of the pledge (hereinafter referred to as the “Pledge Term”) shall be from the above effective date until: (a) the last Secured Indebtedness and Contractual Obligation secured by the pledge is fully repaid and fulfilled; (b) the Pledgee decides, subject to the PRC Laws, to purchase all the equity of Party C held by the Pledgor in accordance with the Exclusive Option Agreement, and all the equity of Party C has been transferred to the name of the Pledgee and/or its designated party, the Pledgee and/or its designated party and its subsidiaries and branches may legally engage in the business of Party C with above equity according to law; or (c) the Pledgee decides, subject to the PRC Laws, to purchase all the assets of Party C in accordance with the Exclusive Option Agreement, and all the assets of Party C have been transferred to the name of the Pledgee and/or its designated party, the Pledgee and/or its designated party and its subsidiaries and branches may legally engage in the business of Party C with above assets according to law; or (d) the Pledgee unilaterally requests the termination of this Contract (the right of the Pledgee to terminate this Agreement is the right without any restrictive conditions, and the right only belongs to the Pledgee, and the Pledgor or Party C does not have the right to terminate this Agreement unilaterally); or (e) the pledge shall be terminated in accordance with the applicable laws and regulations of China.
3.2 During the Pledge Term, if the Pledgor and/or Party C fail to perform their Contractual Obligations or repay the Secured Indebtedness (including but not limited to the failure to pay the service fee in accordance with the Business Cooperation Agreement or failure to fulfill any other provision of any transaction agreement), the Pledgee shall have the right other than the obligation to dispose of the Pledge in accordance with this Agreement.
Pledge Term. 3.2.1 The Pledge of the Equity Interest under this Agreement shall take effect as of the date at which the shares pledged under this Agreement are recorded in the Register of Shareholders of Lei Ting Wan Jun and are registered with the administration of industry and commerce. The Pledge hereby shall have the same term as the Service Agreement.
3.2.2 The Pledgee is entitled to dispose of the Pledge hereunder if Lei Ting Wan Jun fails to pay the technical and consulting services fees subject to the Service Agreement during the Pledge.
Pledge Term. 3.1 The pledge term (the “Pledge Term”) commences on the date of registration of the Pledge with the administrative department for industry and commerce in the place where the Company is located (the “Registration Authority”), until the last obligation secured by the Pledge is paid or fulfilled. The parties agree that upon execution of the Agreement, the Pledgor and the Pledgee shall immediately (but in no event later than 20 days following the date of signing the Agreement) apply to the Registration Authority for the equity interest pledge registration in accordance with the Measures of Administrative Departments for Industry and Commerce for Equity Interest Pledge Registration. The parties further agree that within fifteen (15) days following the date on which the Registration Authority formally accepts the application for equity interest pledge registration, all procedures for equity interest pledge registration shall be completed, and the registration notice issued by the Registration Authority shall be obtained, and the equity interest pledge shall be recorded completely and accurately in the equity interest pledge register by the Registration Authority. The Company acknowledges the respective rights and obligations of the Pledgor and the Pledgee hereunder and agrees to provide any necessary support in the registration of the Pledge.
3.2 If any Obligor fails to repay any of its Secured Debts under the Series Cooperation Agreement during the Pledge Term, the Pledgee has the right, but is not obligated, to dispose of the Pledge in accordance with the Agreement.
