Common use of Term of Pledge Clause in Contracts

Term of Pledge. 3.1 The Pledge shall take effect as of the date on which the administration for commerce and industry at the place where Party C is located (“Registration Authority”) registers and creates the same, and the term of such Pledge (“Term of Pledge”) shall last until the repayment or performance of the last obligation secured by such Pledge. The Parties agree that upon the execution and effectiveness of this Agreement, Pledgor and Party A shall immediately (and in no event later than the 20th day as of the Effective Date hereof) apply with the Registration Authority for registration of the creation of the Equity Pledge in accordance with the Measures for the Registration of Equity Pledge with the

Term of Pledge. 3.1 4.1 The Pledge shall take effect as of the date on which the administration for commerce and industry at the place where Party C is located (“Registration Authority”) registers and creates the same, and the term of such Pledge (“Term of Pledge”) shall last until the repayment or performance of the last obligation secured by such Pledge. The Parties agree that upon the execution and effectiveness of this Agreement, Pledgor and Party A shall immediately (and in no event later than the 20th day as of the Effective Date hereof) apply with the Registration Authority for registration of the creation of the Equity Pledge in accordance with the Measures for the Registration of Equity Pledge with the