Common use of Rights and Obligations of Pledgeholder Clause in Contracts

Rights and Obligations of Pledgeholder. 4.1 The Pledgeholder shall take all measures necessary to block the Shares on the Pledgor’s Account on the date of this Pledge. 4.2 The Pledgeholder shall provide all documents necessary to open the Pledgeholder’s Account on the date of this Pledge. 4.3 Upon execution of this Pledge, the Pledgeholder shall cause the Irrevocable Release Instruction to be executed and delivered to the Pledgor and the Agent. 4.4 In the event the Market Value of the Shares exceeds One Hundred Sixty Five percent (165%) of the Loan and the Market Value remains above One Hundred Sixty Five percent (165%) of the Loan for a continuous period of three (3) Trading Days, then the Pledgeholder shall within five (5) Trading Days from the day of receipt of the Release Notice (as defined in Clause 5.3) from the Agent release from the Pledge a portion of the Shares such that the total Market Value of the Shares shall be equal to One Hundred Fifty percent (150%) of the Loan, provided, however, that the Pledgeholder shall be relieved from its obligation set forth in the preceding sentence if, when, and as long as the Market Value of the Shares has decreased below One Hundred Sixty Five percent (165%) of the Loan by the fifth Trading Day of the receipt of the Release Notice. The number of Shares to be released shall be calculated by the Agent and be stated in the Release Notice. 4.5 In order to effect the release set out in Clause 4.4 above, the Pledgeholder shall duly execute and deliver to the Agent all necessary depo instructions in respect of the required number of shares to be released and such other documents as may be required by the Agent in accordance with applicable law and this Pledge. 4.6 Upon the termination of this Pledge, the Pledgeholder shall do all such deeds, acts and things as may be necessary, and at the expense of the Pledgor, to release and or reassign the Collateral from the security created in accordance with this Pledge including executing and delivering to the Pledgor and the Agent an order releasing the Shares from the Pledge. 4.7 The Pledgeholder shall be obliged to immediately notify the Pledgor about all circumstances known to the Pledgeholder which may affect the state of the Collateral.

Rights and Obligations of Pledgeholder. 4.1 The Pledgeholder shall take all measures necessary to block the Shares on the Pledgor’s 's Account on the date of this Pledge. 4.2 The Pledgeholder shall provide all documents necessary to open the Pledgeholder’s 's Account on the date of this Pledge. 4.3 Upon execution of this Pledge, the Pledgeholder shall cause the Irrevocable Release Instruction to be executed and delivered to the Pledgor and the Agent. 4.4 In the event the Market Value of the Shares exceeds One Hundred Sixty Five percent (165%) of the Loan and the Market Value remains above One Hundred Sixty Five percent (165%) of the Loan for a continuous period of three (3) Trading Days, then the Pledgeholder shall within five three (53) Trading Days from the day of receipt of the Release Notice (as defined in Clause 5.3) from the Agent release from the Pledge a portion of the Shares such that the total Market Value of the Shares shall be equal to One Hundred Fifty percent (150%) of the Loan, provided, however, that the Pledgeholder shall be relieved from its obligation set forth in the preceding sentence if, when, and as long as the Market Value of the Shares has decreased below One Hundred Sixty Five percent (165%) of the Loan by the fifth third Trading Day of the receipt of the Release Notice. The number of Shares to be released shall be calculated by the Agent and be stated in the Release Notice. 4.5 In order to effect the release set out in Clause 4.4 above, the Pledgeholder shall duly execute and deliver to the Agent all necessary depo instructions in respect of the required number of shares to be released and such other documents as may be required by the Agent in accordance with applicable law and this Pledge. 4.6 Upon the termination of this Pledge, the Pledgeholder shall do all such deeds, acts and things as may be necessary, and at the expense of the Pledgor, to release and or reassign the Collateral from the security created in accordance with this Pledge including executing and delivering to the Pledgor and the Agent an order releasing the Shares from the Pledge. 4.7 The Pledgeholder shall be obliged to immediately notify the Pledgor about all circumstances known to the Pledgeholder which may affect the state of the Collateral.