Realization of Pledge Right Sample Clauses

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. 2. All the reasonable fees incurred by Party A in its exercise of any or all of the above rights and powers shall be borne by Party B. Party A is entitled to deduct such costs as actually incurred from the proceeds acquired in its exercise of such rights and powers. 3. When Party A exercises the pledge right in accordance with the preceding clause, Party B shall not erect any obstacle and shall render active cooperation to ensure the successfully exercise of Party A’s pledge right. 4. Party A shall give a written notice to Party B three (3) working days in advance when it exercises the pledge right. 5. The proceeds acquired by Party A in its exercise of its rights and powers shall be used in the following order: a) to pay for any cost incurred in connection with the disposal of the pledged property and the exercise by Party A of its rights and powers (including the remuneration to its legal counsel and agents); b) to pay taxes and fees payable due to disposal of the pledged property; and c) to pay back the secured debt to Party A; If there is any balance after the deduction of the above amounts, Party A shall return the same to Party B or any other person entitled thereto pursuant to relevant laws and regulations, or submit the same to the local notary public where Party A is domiciled (any fees incurred in relation thereto shall be borne by Party B). To the extent permitted by PRC laws, Party B shall provide the aforesaid balance to Party A or the individuals or entities designated by Party A for free. 6. Party A shall have the right to exercise, simultaneously or otherwise, any of the default remedies it is entitled to. Party A is not obliged to exercise other default remedies before its exercise of the auction or sell-off of the pledge equity hereunder.
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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.
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Realization of Pledge Right. Under any of the following circumstances, Party A shall have the right to exercise the pledge right:
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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: (1) The debtor fails to perform the due debts under the main contract or fails to perform the debts that are declared to be due ahead of schedule or violates other provisions of the main contract; (2) The pledgor violates any agreement under this contract; (3) The decrease of the value of the pledged accounts receivable may endanger the rights and interests of the pledgee, and the pledgor fails to provide a new guarantee satisfactory to the pledgee; (4) Any other event that endangers, damages or may endanger or damage the rights and interests of the pledgee occurs. 8.2 in case of any of the circumstances mentioned in the preceding paragraph, the pledgee shall have the right to exercise all the rights it has as the pledgee at such time and in such manner as it considers appropriate, and shall have the right to dispose of the pledged accounts receivable under this contract in accordance with the law, and shall have the priority to be paid with the proceeds. The disposition method shall be decided by the pledgee at its own discretion, and the pledgor shall provide all necessary assistance. 8.3 when the pledgee disposes of the pledged accounts receivable in accordance with this contract, the pledgor shall not set up any obstacles (including the intervention from any third party), or take any action that may hinder or delay the disposition of the pledged accounts receivable by the pledgee in accordance with this contract. The pledgor undertakes to provide active assistance as required by the pledgee so as to enable the pledgee to realize his pledge right as soon as possible. 8.4 unless otherwise designated by the pledgee, the funds obtained by the pledgee to realize the pledge right under this contract shall be paid off in the following order (in the same order, according to the proportion of various amounts) (1) All expenses incurred by the Pledgee for the realization of the pledge right and the principal creditor’s right; (2) Interest, liquidated damages and damages arising from the debtor’s breach of the main contract or the pledgor’s breach of this contract; (3) Principal claim. 8.5 since the pledgor and the debtor are the same person, the pledgee can apply for enforcement of the property other than the pledged receivables of the pledgor, and the premise is not to give up the pledge right or dispose the pledged accounts receivable fi...
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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: a) Request the associated account debtor with payment obligation (the Counterparty) of the Pledged Accounts Receivable to pay its payable amount directly to the account designated by the Pledgee for the repayment of the debts secured by the Pledge; b) The Pledgee shall have the right to deduct the funds in the Income Account directly for the repayment of the debts secured by the Pledge; c) Dispose the Accounts Receivable in any other way legally allowed to realize the pledge right. (2) 实现本协议设立的担保所获得的所有收益，应按照以下顺 序分配，但中国法律另有规定或主债权债务合同另有约定 的除外： a) 支付应付费用、违约金、赔偿金； b) 支付应付罚息； c) 支付应付利息； d) 支付应付的本金。 对于执行质物后所获款项，若其金额超过本质物所担保的 全部债务的，超过部分应属出质人所有并退回出质人。
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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. 8.2 If Party B disposes the rights in compliance with this Contract, Party A shall cooperate and shall not set up any obstacles.
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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: A. the Debtor fails to repay the debt upon its due date (including the accelerated due date) of the principal debt; B. Party B fails to provide corresponding guarantee in the circumstance specified in Article 3.7 hereof; C. the Debtor is dead or declared death, missing or declared missing, or becomes a person without civil capacity or with limited civil capacity, and no successor, guardian or property custodian is available, or his successor, guardian or property custodian refuses to undertake the obligations on his behalf; D. An application for bankruptcy is filed against Party B, or Party B is wound up, dissolved or liquidated, or its business is suspended, or its business license is revoked or registration is cancelled; E. the Debtor fails to transfer the investment proceeds, debt investment principal and other amounts payable by him on the proceeds payment date and the debt investment maturity date to the accounts specified in the principal agreement within 5 business days prior to the proceeds payment date and the debt investment maturity date in accordance with the principal agreement; F. other circumstances under which Party A may realize the pledge rights in accordance with the laws and regulations. Article 5.2 When Party A realizes the pledge rights in accordance with this Agreement, Party A may directly withdraw the principals and proceeds of the pledged shares of the AMPs and use the same to repay the principal debts without obtaining the consent of Party B; provided, however, that Party A shall notify Party B within 2 business days after such withdrawal.
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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: (1) Pay to Pledgee and Guarantee Agent Bank their costs made for realizing creditor’s right under Credit Agreement and for the rights and interests secured under this agreement, as well as other costs, liquidated damages and indemnification for losses that are payable by Pledgor under this agreement. (2) Pay to Pledgee any reasonable costs, default money and damage compensation that are due but not payable by Borrower under Credit Agreement. (3) Pay the interests (including, but not limited to interests, compound interests and penalty interests) of liquid funds loan due and unpaid by the borrower to each participant bank under the Credit Agreement according to the proportion of unpaid loan funds granted by each participant bank accounting for the loan balance of all the participant banks; (4) Pay the principal of any liquid funds loan due and unpaid by the borrower to each participant bank under the Credit Agreement according to the proportion of unpaid loan funds granted by each participant bank accounting for the loan balance of all the participant banks; (5) Pay the interests and charges for credit funds of any bank acceptance xxxx due and unpaid by the borrower to each participant bank under the Credit Agreement according to the proportion of unpaid credit funds of bank acceptance xxxx accepted by each participant bank accounting for total unpaid credit funds of bank acceptance xxxx accepted by all the participant banks. (6) Pay the principal for credit funds of any bank acceptance xxxx due and unpaid by the borrower to each participant bank under the Credit Agreement according to the proportion of unpaid credit funds of bank acceptance xxxx accepted by each participant bank accounting for total unpaid credit funds of bank acceptance xxxx accepted by all the participant banks; (7) Pay the accrued interests (including, but not limited to interests, compound interests and penalty interests) and charges of any trade financing credit funds due and unpaid by the borrower to each participant bank under the Credit Agreement accor...
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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: (1) Deduct and transfer corresponding money from accounts receivable special account. Pledgor hereby irrevocably authorizes Pledgee and Guarantee Agent Bank to implement such deduction and transfer; (2) Instruct its designated participant bank to deduct or transfer the corresponding money from the accounts receivable special account of such participant bank, and Pledgor hereby irrevocably authorizes such participant bank to implement such deduction and transfer; (3) Claim or collect accounts receivable or all funds related to it that shall be payable to pay off secured debt by such fund; (4) Implement property rights that Pledgor is entitled on accounts receivable on behalf of Pledgor; (5) Take or carry out all lawsuits or arbitration procedures related to all or any accounts receivable in the way that Pledgee and Guarantee Agent Bank considers reasonable, and implements, compromise, release or make concessions to all or any accounts receivable or related rights claim. (6) Comprise, arrange creditor’s right, make concessions to any accounts, rights claim, issues or disputes that are related to accounts receivable, that may occur, or that are related to this agreement in any way, and sign any related obligation release instrument. (7) Apply for arbitration, take any legal actions or institute lawsuit, etc. (whether civil or criminal) to matters related to accounts receivable. (8) Sign all documents or take any related actions that pledgee or Guarantee Agent Bank considers necessary, proper or related to the above objects. Pledgee and Guarantee Agent Bank are entitled to implement all or part of the above rights, or to suspend the implementation of any rights. 10.2 Once requested by Pledgee or Guarantee Agent Bank, Pledgor shall assist Pledgee and Guarantee Agent Bank to receive all approval or consent necessary for pledgee to realize its right of pledge, or assist Pledgee or Guarantee Agent Bank to handle all other necessary procedures. 10.3 Money obtained by Pledgee and Guarantee Agent Bank in disposing accounts receivable shall be paid in the following sequence: (1) Within the limitation of accounts receivable under the trade financing between participant bank and borr...
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Related to Realization of Pledge Right

  • Exercise of Pledge 8.1 Pledgee shall issue a written Notice of Default to Pledgor when it exercises the Pledge. 8.2 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 8.1. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.3 After Pledgee issues a Notice of Default to Pledgor in accordance with Section 8.1, Pledgee may exercise any remedy measure under applicable PRC laws, the Transaction Documents and this Agreement, including but not limited to being paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from auction or sale of the Equity Interest. The Pledgee shall not be liable for any loss incurred by its duly exercise of such rights and powers. 8.4 The proceeds from exercise of the Pledge by Pledgee shall be used to pay for tax and expenses incurred as result of disposing the Equity Interest and to perform Contract Obligations and pay the Secured Indebtedness to the Pledgee prior and in preference to any other payment. After the payment of the aforementioned amounts, the remaining balance shall be returned to Pledgor or any other person who have rights to such balance under applicable laws or be deposited to the local notary public office where Pledgor resides, with all expense incurred being borne by Pledgor. To the extent permitted under applicable PRC laws, Pledgor shall unconditionally donate the aforementioned proceeds to Pledgee or any other person designated by Pledgee. 8.5 Pledgee may exercise any remedy measure available simultaneously or in any order. Pledgee may exercise the right to being paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from auction or sale of the Equity Interest under this Agreement, without exercising any other remedy measure first. 8.6 Pledgee is entitled to designate an attorney or other representatives to exercise the Pledge on its behalf, and Pledgor or Party C shall not raise any objection to such exercise. 8.7 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

  • Retention of Pledged Collateral To the extent permitted under applicable law, in addition to the rights and remedies hereunder, upon the occurrence of an Event of Default, the Administrative Agent may, after providing the notices required by Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have accepted or retained any Pledged Collateral in satisfaction of any Secured Obligations for any reason.

  • Term of Pledge 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

  • Release of Pledge 3.1 After the Pledgors and the Company fully and completely perform all of the Contractual Obligations and discharge all of the Secured Liabilities, the Pledgee shall, upon the Pledgors’ request, release the Equity Pledge under this Agreement and cooperate with the Pledgors to cancel the registration of the Equity Pledge on the Company’s register of shareholders and with the administration of industry and commerce in charge of the Company. The Pledgee shall assume the reasonable expenses arising out of the release of the Equity Pledge.

  • Release of Pledged Collateral The Administrative Agent may release any of the Pledged Collateral from this Pledge Agreement or may substitute any of the Pledged Collateral for other Pledged Collateral without altering, varying or diminishing in any way the force, effect, lien, pledge or security interest of this Pledge Agreement as to any Pledged Collateral not expressly released or substituted, and this Pledge Agreement shall continue as a first priority lien on all Pledged Collateral not expressly released or substituted.

  • Certain Sales of Pledged Collateral (a) Each Pledgor recognizes that, by reason of certain prohibitions contained in law, rules, regulations or orders of any Governmental Authority, the Collateral Agent may be compelled, with respect to any sale of all or any part of the Pledged Collateral, to limit purchasers to those who meet the requirements of such Governmental Authority. Each Pledgor acknowledges that any such sales may be at prices and on terms less favorable to the Collateral Agent than those obtainable through a public sale without such restrictions, and, notwithstanding such circumstances, agrees that any such restricted sale shall be deemed to have been made in a commercially reasonable manner and that, except as may be required by applicable law, the Collateral Agent shall have no obligation to engage in public sales. (b) Each Pledgor recognizes that, by reason of certain prohibitions contained in the Securities Act, and applicable state securities laws, the Collateral Agent may be compelled, with respect to any sale of all or any part of the Securities Collateral and Investment Property, to limit purchasers to persons who will agree, among other things, to acquire such Securities Collateral or Investment Property for their own account, for investment and not with a view to the distribution or resale thereof. Each Pledgor acknowledges that any such private sales may be at prices and on terms less favorable to the Collateral Agent than those obtainable through a public sale without such restrictions (including a public offering made pursuant to a registration statement under the Securities Act), and, notwithstanding such circumstances, agrees that any such private sale shall be deemed to have been made in a commercially reasonable manner and that the Collateral Agent shall have no obligation to engage in public sales and no obligation to delay the sale of any Securities Collateral or Investment Property for the period of time necessary to permit the issuer thereof to register it for a form of public sale requiring registration under the Securities Act or under applicable state securities laws, even if such issuer would agree to do so. (c) Notwithstanding the foregoing, each Pledgor shall, upon the occurrence and during the continuance of any Event of Default, at the reasonable request of the Collateral Agent, for the benefit of the Collateral Agent, cause any registration, qualification under or compliance with any Federal or state securities law or laws to be effected with respect to all or any part of the Securities Collateral as soon as practicable and at the sole cost and expense of the Pledgors. Each Pledgor will use its commercially reasonable efforts to cause such registration to be effected (and be kept effective) and will use its commercially reasonable efforts to cause such qualification and compliance to be effected (and be kept effective) as may be so requested and as would permit or facilitate the sale and distribution of such Securities Collateral including registration under the Securities Act (or any similar statute then in effect), appropriate qualifications under applicable blue sky or other state securities laws and appropriate compliance with all other requirements of any Governmental Authority. Each Pledgor shall use its commercially reasonable efforts to cause the Collateral Agent to be kept advised in writing as to the progress of each such registration, qualification or compliance and as to the completion thereof, shall furnish to the Collateral Agent such number of prospectuses, offering circulars or other documents incident thereto as the Collateral Agent from time to time may request, and shall indemnify and shall cause the issuer of the Securities Collateral to indemnify the Collateral Agent and all others participating in the distribution of such Securities Collateral against all claims, losses, damages and liabilities caused by any untrue statement (or alleged untrue statement) of a material fact contained therein (or in any related registration statement, notification or the like) or by any omission (or alleged omission) to state therein (or in any related registration statement, notification or the like) a material fact required to be stated therein or necessary to make the statements therein not misleading. (d) If the Collateral Agent determines to exercise its right to sell any or all of the Securities Collateral or Investment Property, upon written request, the applicable Pledgor shall from time to time furnish to the Collateral Agent all such information as the Collateral Agent may request in order to determine the number of securities included in the Securities Collateral or Investment Property which may be sold by the Collateral Agent as exempt transactions under the Securities Act and the rules of the Securities and Exchange Commission thereunder, as the same are from time to time in effect. (e) Each Pledgor further agrees that a breach of any of the covenants contained in this Section 9.4 will cause irreparable injury to the Collateral Agent and the other Secured Parties, that the Collateral Agent and the other Secured Parties have no adequate remedy at law in respect of such breach and, as a consequence, that each and every covenant contained in this Section 9.4 shall be specifically enforceable against such Pledgor, and such Pledgor hereby waives and agrees not to assert any defenses against an action for specific performance of such covenants except for a defense that no Event of Default has occurred and is continuing.

  • Registration of Pledged Collateral Such Grantor will permit any registerable Pledged Collateral owned by it to be registered in the name of the Administrative Agent or its nominee at any time at the option of the Required Secured Parties.

  • Sale of Pledged Collateral Upon the occurrence of an Event of Default and during the continuation thereof, without limiting the generality of this Section and without notice, the Administrative Agent may, in its sole discretion, sell or otherwise dispose of or realize upon the Pledged Collateral, or any part thereof, in one or more parcels, at public or private sale, at any exchange or broker’s board or elsewhere, at such price or prices and on such other terms as the Administrative Agent may deem commercially reasonable, for cash, credit or for future delivery or otherwise in accordance with applicable law. To the extent permitted by law, any holder of the Secured Obligations may in such event bid for the purchase of such securities. Each Pledgor agrees that, to the extent notice of sale shall be required by law and has not been waived by such Pledgor, any requirement of reasonable notice shall be met if notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed postage prepaid to such Pledgor in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten (10) days before the time of such sale. The Administrative Agent shall not be obligated to make any sale of Pledged Collateral of such Pledgor regardless of notice of sale having been given. The Administrative Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned.

  • Effect of Pledge on Certain Rights If any of the Collateral subject to this Agreement consists of nonvoting equity or ownership interests (regardless of class, designation, preference or rights) that may be converted into voting equity or ownership interests upon the occurrence of certain events (including, without limitation, upon the transfer of all or any of the other stock or assets of the issuer), it is agreed that the pledge of such equity or ownership interests pursuant to this Agreement or the enforcement of any of Agent’s rights hereunder shall not be deemed to be the type of event which would trigger such conversion rights notwithstanding any provisions in the Organizational Documents or agreements to which any Debtor is subject or to which any Debtor is party.

  • Transfer Upon Realization of Pledged, Mortgaged or Charged Escrow Securities (1) You may transfer within escrow to a financial institution the escrow securities you have pledged, mortgaged or charged under section 4.2 to that financial institution as collateral for a loan on realization of the loan. (2) Prior to the transfer the Escrow Agent must receive: (a) a statutory declaration of an officer of the financial institution that the financial institution is legally entitled to the escrow securities; (b) a transfer power of attorney, executed by the transferor in accordance with the requirements of the Issuer’s transfer agent; and (c) an acknowledgement in the form of Schedule “B” signed by the financial institution. (3) Within 10 days after the transfer, the transferee of the escrow securities will file a copy of the acknowledgment with the securities regulators in the jurisdictions in which the Issuer is a reporting issuer.

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