Common use of Right of Pledge Clause in Contracts

Right of Pledge. As a guarantee for the performance by Party C and the Pledgors of their obligations under the Transaction Documents, each Pledgor hereby pledges all of the Equity held by it in Party C to the Pledgee. With the prior written consent of the Pledgee, the Pledgors may increase the capital of Party C. The amount of additional contribution made by the Pledgors in the registered capital of the company due to capital increase also falls under the pledged Equity. Where Party C shall be dissolved or liquidated according to the mandatory provisions of Chinese laws, any interests distributed in accordance with the law from Party C to the Pledgors after the completion of dissolution or liquidation of Party C in accordance with the law shall be at the request of the Pledgee (i) deposited into an account designated by the Pledgee to be supervised by the Pledgee and used for securing the obligations under the Transaction Documents and first for paying off the Secured Debts under the Transaction Documents; or (ii) without violating Chinese laws, unconditionally granted to the Pledgee or any person designated by the Pledgee.

Right of Pledge. ​ As a guarantee for the performance by Party C and the Pledgors of their obligations under the Transaction Documents, each Pledgor hereby pledges all of the Equity held by it in Party C to the Pledgee. With the prior written consent of the Pledgee, the Pledgors may increase the capital of Party C. The amount of additional contribution made by the Pledgors in the registered capital of the company due to capital increase also falls under the pledged Equity. Where Party C shall be dissolved or liquidated according to the mandatory provisions of Chinese laws, any interests distributed in accordance with the law from Party C to the Pledgors after the completion of dissolution or liquidation of Party C in accordance with the law shall be at the request of the Pledgee (i) deposited into an account designated by the Pledgee to be supervised by the Pledgee and used for securing the obligations under the Transaction Documents and first for paying off the Secured Debts under the Transaction Documents; or (ii) without violating Chinese laws, unconditionally granted to the Pledgee or any person designated by the Pledgee.. ​