Common use of Pledge Term Clause in Contracts

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.