Common use of Recognition of Pledge Agreement and Pledged Shares Clause in Contracts

Recognition of Pledge Agreement and Pledged Shares. The Company acknowledges that the execution and delivery of the Pledge Agreement, and the fulfillment o f the terms thereof, is a condition to the closing of the Transactions. The Company will recognize the terms of the Pledge Agreement and, as provided therein, the transfer of the Pledged Shares to the Lenders and will take no position or give the Transfer Agent any instructions which would be inconsistent with the rights of the Lenders to have the Pledged Shares transferred to the Lenders in accordance with the terms of the Pledge Agreement.

Recognition of Pledge Agreement and Pledged Shares. The Company acknowledges that the execution and delivery of the Pledge Agreement, and the fulfillment o f the terms thereof, is a condition to the closing of the Transactions. The Company will recognize the terms of the Pledge Agreement and, as provided therein, the transfer of the Pledged Shares to the Lenders Purchasers and will take no position or give the Transfer Agent any instructions which would be inconsistent with the rights of the Lenders Purchasers to have the Pledged Shares transferred to the Lenders Purchasers in accordance with the terms of the Pledge Agreement.

Recognition of Pledge Agreement and Pledged Shares. The Company acknowledges that the execution and delivery of the Pledge Agreement, and the fulfillment o f of the terms thereof, is a condition to the closing of the Transactions. The Company will recognize the terms of the Pledge Agreement and, as provided therein, the transfer of the Pledged Shares to the Lenders Purchasers and will take no position or give the Transfer Agent any instructions which would be inconsistent with the rights of the Lenders Purchasers to have the Pledged Shares transferred to the Lenders Purchasers in accordance with the terms of the Pledge Agreement.

Recognition of Pledge Agreement and Pledged Shares. The Company acknowledges that the execution and delivery of the each Pledge Agreement, and the fulfillment o f the terms thereof, is a condition to the closing of the Transactions. The Company will recognize the terms of the each Pledge Agreement and, as provided therein, the transfer of the Pledged Shares to the Lenders Buyers and will take no position or give the Transfer Agent any instructions which would be inconsistent with the rights of the Lenders Buyers to have the Pledged Shares transferred to the Lenders Buyers in accordance with the terms of the Pledge Agreement.