Common use of Realization of the Pledge Right Clause in Contracts

Realization of the Pledge Right. (1) Without Party A’s previous written consent, Party B shall not transfer the equity interest to be pledged hereunder before Beijing Acorn has paid in full the fee for the technical services under the Services Agreement within a reasonable time limit and Party B has performed its obligations under the Loan Agreement and the Management Agreement. (2) Party A shall notify Party B in writing of its exercise of the pledge right hereunder; (3) If, during the term of the pledge hereunder, Beijing Acorn fails to pay all or part of the fee for the technical services under the Services Agreement within a reasonable time limit as specified therein or Party B fails to perform its obligations under the Loan Agreement and the Management Agreement in the time limits as specified therein, Party A shall have the priority to be compensated with the money into which the equity interest to be pledged hereunder will be converted or with the proceeds from the auction or sale of such equity interest in accordance with the provisions hereof. (4) Party B shall not obstruct Party A from exercising the pledge right in accordance with the provisions of the preceding paragraph. Instead, Party B shall extend active cooperation and assistance to Party A in exercising such right to ensure that it will succeed in realizing such right.

Realization of the Pledge Right. (1) Without Party A’s previous written consent, Party B shall not transfer the equity interest to be pledged hereunder before Beijing Acorn Network Technology has paid in full the fee for the technical services under the Services Agreement within a reasonable time limit and Party B has performed its obligations under the Loan Agreement and the Management Agreement. (2) Party A shall notify Party B in writing of its exercise of the pledge right hereunder; (3) If, during the term of the pledge hereunder, Beijing Acorn Network Technology fails to pay all or part of the fee for the technical services under the Services Agreement within a reasonable time limit as specified therein or Party B fails to perform its obligations under the Loan Agreement and the Management Agreement in the time limits as specified therein, Party A shall have the priority to be compensated with the money into which the equity interest to be pledged hereunder will be converted or with the proceeds from the auction or sale of such equity interest in accordance with the provisions hereof. (4) Party B shall not obstruct Party A from exercising the pledge right in accordance with the provisions of the preceding paragraph. Instead, Party B shall extend active cooperation and assistance to Party A in exercising such right to ensure that it will succeed in realizing such right.

Realization of the Pledge Right. (1) Without Party A’s previous written consent, Party B shall not transfer the equity interest to be pledged hereunder before Beijing Acorn HJX Technology has paid in full the fee for the technical services under the Services Agreement within a reasonable time limit and Party B has performed its obligations under the Loan Agreement and the Management Agreement. (2) Party A shall notify Party B in writing of its exercise of the pledge right hereunder; (3) If, during the term of the pledge hereunder, Beijing Acorn HJX Technology fails to pay all or part of the fee for the technical services under the Services Agreement within a reasonable time limit as specified therein or Party B fails to perform its obligations under the Loan Agreement and the Management Agreement in the time limits as specified therein, Party A shall have the priority to be compensated with the money into which the equity interest to be pledged hereunder will be converted or with the proceeds from the auction or sale of such equity interest in accordance with the provisions hereof. (4) Party B shall not obstruct Party A from exercising the pledge right in accordance with the provisions of the preceding paragraph. Instead, Party B shall extend active cooperation and assistance to Party A in exercising such right to ensure that it will succeed in realizing such right.

Realization of the Pledge Right. (1) Without Party A’s previous written consent, Party B shall not transfer the equity interest to be pledged hereunder before Beijing Acorn HJX Electronic has paid in full the fee for the technical services under the Services Agreement within a reasonable time limit and Party B has performed its obligations under the Loan Agreement and the Management Agreement. (2) Party A shall notify Party B in writing of its exercise of the pledge right hereunder; (3) If, during the term of the pledge hereunder, Beijing Acorn HJX Electronic fails to pay all or part of the fee for the technical services under the Services Agreement within a reasonable time limit as specified therein or Party B fails to perform its obligations under the Loan Agreement and the Management Agreement in the time limits as specified therein, Party A shall have the priority to be compensated with the money into which the equity interest to be pledged hereunder will be converted or with the proceeds from the auction or sale of such equity interest in accordance with the provisions hereof. (4) Party B shall not obstruct Party A from exercising the pledge right in accordance with the provisions of the preceding paragraph. Instead, Party B shall extend active cooperation and assistance to Party A in exercising such right to ensure that it will succeed in realizing such right.

Realization of the Pledge Right. (1) Without Party A’s previous written consent, Party B shall not transfer the equity interest to be pledged hereunder before Beijing Acorn has paid in full the fee for the technical services under the Services Agreement within a reasonable time limit and Party B has performed its obligations under the Loan Agreement and the Management Agreement. (2) Party A shall notify Party B in writing of its exercise of the pledge right hereunder; (3) If, during the term of the pledge hereunder, Beijing Acorn fails to pay all or part of the fee for the technical services under the Services Agreement within a reasonable time limit as specified therein or Party B fails to perform its obligations under the Loan Agreement and the Management Agreement in the time limits as specified therein, Party A shall have the priority to be compensated with the money into which the equity interest to be pledged hereunder will be converted or with the proceeds from the auction or sale of such equity interest in accordance with the provisions hereof. (4) Party B shall not obstruct Party A from exercising the pledge right in accordance with the provisions of the preceding paragraph. Instead, Party B shall extend active cooperation and assistance to Party A in exercising such right to ensure that it will succeed in realizing such right.

Realization of the Pledge Right. (1) Without Party A’s previous written consent, Party B shall not transfer the equity interest to be pledged hereunder before Beijing Acorn Shanghai HJX Electronic has paid in full the fee for the technical services under the Services Agreement within a reasonable time limit and Party B has performed its obligations under the Loan Agreement and the Management Agreement. (2) Party A shall notify Party B in writing of its exercise of the pledge right hereunder; (3) If, during the term of the pledge hereunder, Beijing Acorn Shanghai HJX Electronic fails to pay all or part of the fee for the technical services under the Services Agreement within a reasonable time limit as specified therein or Party B fails to perform its obligations under the Loan Agreement and the Management Agreement in the time limits as specified therein, Party A shall have the priority to be compensated with the money into which the equity interest to be pledged hereunder will be converted or with the proceeds from the auction or sale of such equity interest in accordance with the provisions hereof. (4) Party B shall not obstruct Party A from exercising the pledge right in accordance with the provisions of the preceding paragraph. Instead, Party B shall extend active cooperation and assistance to Party A in exercising such right to ensure that it will succeed in realizing such right.