Realization of Pledge Right. 1. The Parties agree that, during the term of the pledge, in the event that the Company breaches any of its obligations under the Exclusive Service Agreement or the Proxy Agreement or Party B breaches the Exclusive Equity Option Agreement or the Proxy Agreement, causing any loss or damage or incurs any costs to Party A, Party A shall have the right to convert such Pledged Equity Interest into money or be paid in priority out of the proceeds from the conversion, auction or sale in accordance with this Agreement. Party A shall not be liable for any loss incurred by its reasonable exercise of such rights and powers.
Realization of Pledge Right. 6.1 Under any of the following circumstances, Party A shall have the right to exercise the pledge right:
Realization of Pledge Right. If Party B or the Client has deposited sufficient margin or the balance of its deposit account is sufficient as stipulated in the Master Agreement to enable Party A to undertake the payment liability under the guarantee letter without making advance payments; or after Party A advances, Party B or the Client raises sufficient funds to pay off the principal and interest of Party A’s advance and all other relevant expenses, the pledge right shall extinct, and Party A shall return the pledge. In case of any of the circumstances specified in Articles 10, 11 and 13 of the Agreement, Party A may negotiate with Party B to discount, auction or sell off the pledge to repay the principal and interest of Party A’s advances and all other relevant expenses, or deposit into the margin account opened by Party B at Party A for payment of the amount payable under the guarantee letter. Such funds shall be deemed to be specialized and transferred to Party A for possession from the date of entering into the margin account as the pledge guarantee for the debts under the guarantee agreement. After the pledge is discounted, auctioned or sold off, the part of its price exceeding the principal and interest of Party A’s advance and all other relevant expenses shall belong to Party B; if it is insufficient, Party A shall claim compensation separately. Version August 2018
Realization of Pledge Right. 8.1 Upon the expiration of the term of the performance of principal debts or occurrence of conditions for realizing pledge rights agreed by both parties, Party B is entitled to negotiate with Party A to convert the pledged property into money for compensating the debts owed by the Borrower in the Master Contract or auction off the pledge property, and the amount gained from selling the pledged property shall be used for compensation in priority.
Realization of Pledge Right. 1.3.1 If (i) the Company fails to fulfil the Secured Obligations according to the Master Agreements or (ii) the Pledgors or the Company fails to fulfil the Contractual Obligations according to the Master Agreements, the Pledgee may dispose of the Pledged Equity pursuant to the Guarantee Law of the People’s Republic of China and other relevant laws and regulations and has the right of priority to be paid from the proceeds from the disposal of the Pledged Equity for the Secured Obligations and any other relevant expenditures. The parties agree that the proceeds obtained according to this article shall be used in the following order:
Realization of Pledge Right. 8.1 in case of any of the following circumstances, the pledgee shall have the right to exercise the pledge right immediately:
Realization of Pledge Right. 11.1 In case that any events prescribed in Article 10.1 herein occurs, Guarantee Agent Bank is entitled to dispose the stock by direct auction, selling off or converting into money, and the money obtained thereby is used to clear the secured debt. Guarantee Agent Bank is responsible to dispose equity, and it shall pay the money obtained by equity disposal to all Pledgees and Guarantee Agent Banks in the ways and sequences as follows:
Realization of Pledge Right. 10.1 In case that any breach prescribed in Article 9.1 hereinabove occurs, Pledgee is entitled to realize pledge right under this agreement according to the provisions herein prescribed, and during such realization, Pledgee and Guarantee Agent Bank is entitled to take the following actions:
Realization of Pledge Right. Article 5.1 Party A shall have the right to realize the pledge rights in case of the occurrence of any of the following events; provided, however, that Party A shall realize the pledge rights in accordance with and subject to Article 13.1 hereof:
Realization of Pledge Right. (1) In the event that the Debtor fails to repay any debts due (including the debts being declared as early maturity) pursuant to the Principal Contract, or breaches any stipulations hereunder or under the Principal Contract, the Pledgee shall have right to declare the early prepayment of the Principal Amount under the Principal Contract and/or the Period for Claims’ Determination, and take measures to realize the right of pledge hereof, including but not limited to:
