Release of Pledged Shares. Upon the timely payment in full of all of the Obligations in accordance with the terms thereof, Secured Party shall notify the Escrow Agent in writing to such effect. Upon receipt of such written notice, the Escrow Agent shall return all of the Pledged Materials in Escrow Agent’s possession to the Pledgor, whereupon any and all rights of Secured Party in and to the Pledged Materials and all other Collateral shall be terminated.
Release of Pledged Shares. The Administrative Agent agrees that, so long as Guarantor is in compliance with Section 6.2(a) and none of the events set forth in Section 6.2(b) has occurred, it shall not release any of the Pledged Shares of any Borrower from the Lien granted under the Pledge Agreement until after the termination of this Guaranty and the obligations of Guarantor hereunder with respect to such Borrower. Notwithstanding the foregoing, the Administrative Agent shall be entitled to (i) release the Pledged Shares of such Borrower if such Pledged Shares are replaced by additional common stock of Guarantor and (ii) sell the Pledged Shares pursuant to Section 6.1.
Release of Pledged Shares. (a) The Collateral Agent shall not at any time release Pledged Shares from the Lien created by the Pledge Agreements unless such release is in accordance with the provisions of this Indenture and the applicable Pledge Agreement.
(b) The Issuers and the Guarantors shall be entitled to releases of the Pledged Shares from the Liens securing Notes and the Guarantees under any one or more of the following circumstances, and such Liens on the Pledged Shares shall immediately and automatically, without the need for any further action by any Person, be released, terminated and discharged:
(1) in part, as to any Pledged Shares that are sold, assigned, transferred, conveyed or otherwise disposed of by the Issuers or any of the Guarantors to a Person that is not the Issuers or a Guarantor in a transaction permitted under or not prohibited by this Indenture;
(2) in whole or in part where such Pledged Shares (a) represent the assets of a Guarantor that is being released from its Guarantee and its other Obligations under this Indenture in accordance with its terms (including by virtue of such Subsidiary Guarantor ceasing to be a Restricted Subsidiary); or (b) represent the equity interests of a Guarantor that is being released from its Guarantee and its other Obligations under this Indenture in accordance with its terms (including by virtue of such Subsidiary Guarantor ceasing to be a Restricted Subsidiary); or
(3) in whole or in part, as applicable, if required in accordance with the terms of any Pledge Agreement.
(c) The Liens on the Pledged Shares that secure the Issuers’ and the Guarantors’ Obligations under the Notes, the Guarantees and this Indenture also will automatically, without the need for any further action by any Person, be released, terminated and discharged in whole:
(1) upon Legal Defeasance or Covenant Defeasance (other than with respect to the Guarantees by Vrio Corp.) in accordance with Article 8 or satisfaction and discharge of this Indenture in accordance with Article 12;
(2) with the consent of the Holders of the requisite percentage of Notes in accordance with Article 9;
(3) upon the effectiveness of the Guarantees provided pursuant to Section 4.19(b) hereof; or
(4) upon payment in full of the principal of, accrued and unpaid interest and premium, if any, on the Notes.
(d) Upon compliance with Section 10.03(b) or (c), the Issuers shall deliver to the Trustee an Opinion of Counsel and Officers’ Certificate (on which the Trustee shall be fully prot...
Release of Pledged Shares. The Holder shall deliver to the Debtor the share certificate for the Pledged Shares, released and discharged from the Security Interest in the following amounts upon satisfaction of the following amounts under the Note:
(a) $70,000 on or before August 31, 2007 – 1,402,140 Pledge Shares released
(b) $133,694 on or before September 30, 2007 – 1,869,566 Pledge Shares released
(c) $233, 693 on or before February, 1 2008 – 4,673,877 Pledge Shares released
(d) $233, 693 on or before September, 1 2008 -4,673,877 Pledge Shares released
Release of Pledged Shares. The Administrative Agent agrees that, so long as none of the events set forth in Section 6.2(a) has occurred, it shall not release any of the Pledged Shares of any Borrower from the Lien granted under the Pledge Agreement until the payment in full of all obligations of such Borrower. Notwithstanding the foregoing, the Administrative Agent shall be entitled to (i) release the Pledged Shares of such Borrower if such Pledged Shares are replaced by additional common stock of Guarantor and (ii) sell the Pledged Shares pursuant to Section 6.1 hereof or the Pledge Agreement.
Release of Pledged Shares. Pledgee shall not be required to release from the within pledge any portion of the Pledged Shares of Pledgor until all unpaid principal plus interest due under the Note which is guaranteed by Pledgor are fully paid. Upon receipt of full payment of principal and interest due under the Note, all the shares of stock pledged under this Agreement held by Pledgee will cease to be Pledged Shares for the purposes of this Agreement and shall be immediately returned to Pledgor.
Release of Pledged Shares. Pledgee shall, within twenty (20) Business Days after it receives the 2011 Financial Statements (as defined in the SPA), release or procure to be released the following amount of Pledged Shares to Pledgors subject to the following terms:
(a) all of the Pledged Shares, if the consolidated net revenue of the Company according to the 2011 Financial Statements is no less than RMB275,000,000;
(b) 50% of the Pledged Shares, if the consolidated net revenue of the Company according to the 2011 Financial Statements is below RMB275,000,000 but no less than RMB250,000,000; or
(c) none of the Pledged Shares, if the consolidated net revenue of the Company according to the 2011 Financial Statements is below RMB250,000,000. In the cases of (b) and (c) above, Pledgee shall have the right to take any action with respect to the unreleased Pledged Shares as it desires in accordance with Section 5 and for the avoidance of doubt, Pledgors shall have no right, entitlement or claim whatsoever with respect to such Pledged Shares.
Release of Pledged Shares. The Administrative Agent agrees that it shall not release any of the Pledged Shares of any Borrower from the Lien granted under the Pledge Agreement until the payment in full of all obligations of such Borrower. Notwithstanding the foregoing, the Administrative Agent shall be entitled to (i) release the Pledged Shares of such Borrower if such Pledged Shares are replaced by additional common stock of Guarantor and (ii) sell the Pledged Shares pursuant to Section 6.1 hereof or the Pledge Agreement.
Release of Pledged Shares. Pledged Shares which become Vested Shares (as defined in the Management Stock Agreement) will no longer constitute "Pledged Shares" for purposes of this Agreement, and will no longer be subject to the restrictions hereunder.
Release of Pledged Shares. The Secured Parties may release any of the Pledged Shares from this Pledge Agreement without altering, varying or diminishing in any way the force, effect, lien, pledge or security interest of this Pledge Agreement as to any Pledged Shares not expressly released. The Secured Parties shall release the Pledged Shares from this Pledge Agreement on a pro-rata basis to the extent the Notes are converted to Conversion Stock.
