Release of Pledged Shares from Pledge. Upon the payment of all amounts due to the Pledgee under the Convertible Debentures by repayment in accordance with the terms of the Note, the parties hereto shall notify the Escrow Agent to such effect in writing. Upon receipt of such written notice for payment of the amounts due to the Pledgee under the Convertible Debentures, the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the Pledged Shares, (collectively the "Pledged Materials"), whereupon any and all rights of Pledgee in the Pledged Materials shall be terminated. Notwithstanding anything to the contrary contained herein, upon full payment of all amounts due to the Pledgee under the Convertible Debentures, by repayment in accordance with the terms of the Note, this Agreement and Pledgee's security interest and rights in and to the Pledged Shares shall terminate.
Release of Pledged Shares from Pledge. Upon the full payment of all Obligations due to the Pledgee under the Transaction Documents, including the repayment of all amounts owed by the Company to the Pledgee under the Convertible Debentures (whether outstanding principal, interest, legal fees, and any other amounts owed to the Pledgee by the Company), the parties hereto shall notify the Escrow Agent to such effect in writing. Promptly upon receipt of such written notice, the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the Pledged Shares (collectively the "Pledged Materials"), whereupon any and all rights of Pledgee in the Pledged Materials shall be terminated.
Release of Pledged Shares from Pledge a. Upon the full payment of all Obligations due to the Pledgee under the Transaction Documents, including the repayment of all amounts owed by the Company to the Pledgee under the Convertible Debentures (whether outstanding principal, interest, legal fees, and any other amounts owed to the Pledgee by the Company), the parties hereto shall notify the Escrow Agent to such effect in writing. Promptly upon receipt of such written notice, the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the Pledged Shares (collectively the "Pledged Materials"), whereupon any and all rights of Pledgee in the Pledged Materials shall be terminated, or
b. Upon the satisfaction of the following conditions (i) the Company has entered into a pledge and escrow agreement substantially the same as this Agreement pursuant to which the Company has pledged shares of Common Stock in the amount of five times the outstanding balance of the Convertible Debentures to secure the Obligations; (ii) in connection with such pledge agreement, the Company has delivered certificates representing the shares pledged together with duly executed stock powers or other appropriate transfer documents with medallion bank guarantees and executed in blank by the Company, and (iii) no Event of Default has occurred, the parties hereto shall notify the Escrow Agent and promptly upon receipt if such written notice, the Escrow Agent shall return the Pledged Material, whereupon any and all rights of Pledgee in the Pledged Materials shall be terminated.
Release of Pledged Shares from Pledge. Upon the payment of all amounts due to the Pledgee under the Convertible Debentures by repayment in accordance with the terms of the Note, the parties hereto shall notify the Escrow Agent to such effect in writing. Upon receipt of such written notice, the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the Pledged Shares, (collectively the "Pledged Materials"), whereupon any and all rights of Pledgee in the Pledged Materials shall be terminated. Notwithstanding anything to the contrary contained herein, upon full payment of all amounts due to the Pledgee under the Convertible Debentures, by repayment in accordance with the terms of the Convertible Debentures, this Agreement and Pledgee's security interest and rights in and to the Pledged Shares shall terminate.
Release of Pledged Shares from Pledge. Upon the Company’s increase of its authorized shares of common stock to two hundred fifty million (250,000,000) and the delivery of one hundred million (100,000,000) shares of Common Stock by the Company to the Escrow Agent pursuant to that certain Pledge and Escrow Agreement dated January 9, 2006 by an among the Company, the Pledgee and the Escrow Agent, the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the Pledged Shares (collectively the “Pledged Materials”), whereupon any and all rights of the Pledgee in the Pledged Materials shall terminate.
Release of Pledged Shares from Pledge. Upon the payment of all amounts due to the Pledgee under the Promissory Note by repayment in accordance with the terms of the Note, the parties hereto shall notify the Escrow Agent to such effect in writing. Upon receipt of such written notice for payment of the amounts due to the Pledgee under the Promissory Note, the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the Pledged Shares, (collectively the “Pledged Materials”), whereupon any and all rights of Pledgee in the Pledged Materials shall be terminated. Notwithstanding anything to the contrary contained herein, upon full payment of all amounts due to the Pledgee under the Promissory Note, by repayment in accordance with the terms of the Note, this Agreement and Pledgee's security interest and rights in and to the Pledged Shares shall terminate.
Release of Pledged Shares from Pledge. Upon satisfaction of the Obligations, the Pledgor and Pledgee shall jointly notify the Escrow Agent to such effect in writing. Promptly upon receipt of such written notice, the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the Pledged Shares (collectively the "Pledged Materials"), whereupon any and all rights of Pledgee in the Pledged Materials shall be terminated.
Release of Pledged Shares from Pledge. Upon the termination or expiration of this Agreement, all certificates evidencing Collateral and all documents and instruments of transfer or assignment related thereto shall be promptly returned to Pledgor, whereupon all rights of the Pledgees to the Collateral hereunder shall be terminated.
Release of Pledged Shares from Pledge. Upon the payment of all amounts due to the Pledgee under the Note, the Escrow Holder shall return to the Pledgor the Transfer Documents and the certificate representing the Pledged Shares (collectively the “Pledged Materials”), whereupon any and all rights of Pledgee in the Pledged Materials shall be terminated. Notwithstanding anything to the contrary contained herein, upon full payment of all amounts due to the Pledgee under the Note, this Agreement and Pledgee’s security interest and rights in and to the Pledged Shares shall terminate.
Release of Pledged Shares from Pledge. Upon the satisfaction of all amounts due to the Pledgee under the Guaranty the parties hereto shall notify the Escrow Agent to such effect in writing. Upon receipt of such written notice the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the Pledged Shares, (collectively the "Pledged Materials"), whereupon any and all rights of Pledgee in the Pledged Materials shall be terminated. Notwithstanding anything to the contrary contained herein, upon full payment of all amounts due to the Pledgee under the Guaranty, this Agreement and the Pledgee's security interest and rights in and to the Pledged Shares shall terminate.
