Common use of Release of Pledged Shares from Pledge Clause in Contracts

Release of Pledged Shares from Pledge. Upon the payment of all amounts due to the Pledgee under the Convertible Redeemable Debentures by repayment in accordance with the terms of the Convertible Redeemable Debentures, 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 Redeemable 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 Redeemable Debentures, by repayment in accordance with the terms of the Convertible Redeemable 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 payment of all amounts due to the Pledgee under the Convertible Redeemable Debentures by repayment in accordance with the terms of the Convertible Redeemable Debentures, the parties hereto shall notify the Escrow Agent to such effect in writing. Upon receipt of such written notice for of full payment of the amounts due to the Pledgee under the Convertible Redeemable Debentures, the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the Pledged Shares, Shares and any other documentation provided to the Escrow Agent (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 Redeemable Debentures, by repayment in accordance with the terms of the Convertible Redeemable DebenturesDebenture, 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 earlier of (i) receipt by the Escrow Agent of the Additional Company Pledged Shares or (ii) full payment of all amounts Obligations due to the Pledgee under the Convertible Redeemable Debentures by Transaction Documents, including the repayment or conversion in accordance with the terms of the Convertible Redeemable DebenturesDebentures 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. Upon Promptly upon receipt of such written notice for payment of the amounts due to the Pledgee under the Convertible Redeemable Debenturesnotice, the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the Pledged Shares, 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 the earlier of (i) receipt by the Escrow Agent of the Additional Company Pledged Shares or (ii) full payment of all amounts due to the Pledgee under the Convertible Redeemable Debentures, by repayment or conversion in accordance with the terms of the Convertible Redeemable 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 full payment of all amounts Obligations due to the Pledgee under the Convertible Redeemable Debentures Transaction Documents, including the repayment or conversion of all amounts owed by repayment in accordance with the terms of Company to the Pledgee under the Convertible Redeemable DebenturesDebentures (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. Upon Promptly upon receipt of such written notice for payment of the amounts due to the Pledgee under the Convertible Redeemable Debenturesnotice, the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the Pledged Shares, 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 the full payment of all amounts due to the Pledgee under the Convertible Redeemable Debentures, by repayment or conversion in accordance with the terms of the Convertible Redeemable 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 repayment in accordance with the terms of the Convertible Debentures of Six Hundred Fifty Thousand Dollars ($650,000) of the principal amount of the Convertible Debentures the Pledgor shall return the certificates representing one half (1/2) of the Pledged Shares and corresponding Transfer Documents to the Pledgee. Upon the payment of all amounts due to the Pledgee under the Convertible Redeemable Debentures by repayment or conversion in accordance with the terms of the Convertible Redeemable DebenturesDebentures , 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 Redeemable Debentures, the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the balance of 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 Redeemable Debentures, by repayment or conversion in accordance with the terms of the Convertible Redeemable Debentures, this Agreement and Pledgee’s 's security interest and rights in and to the Pledged Shares shall terminate.