Term of the Pledge. 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with the relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness has been fully paid. The Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within thirty (30) days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the Parties shall be bound by the provisions of this Agreement. The Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the relevant PRC laws and regulations and the competent AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing.
3.2 During the Term of the Pledge, in the event the Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, the Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.
Term of the Pledge. 3.1 This Pledge shall become effective on such date when the pledge of the equity interest contemplated herein is registered with competent authority of Administration for Industry and Commerce (“AIC”). The Pledge shall continue until all Contractual Obligations have been fully performed by the Pledgors and the Company and all Secured Indebtedness have been paid in full, or all of the Transaction Agreements have been terminated or turned invalid, or the Contractual Obligations have been terminated for legal reasons.
3.2 The Pledgors and the Company shall (1) record the Pledge made under this Agreement on the Company’s register of shareholders when appropriate after the execution of this Agreement, and (2) file the Pledge with the appropriate AIC to complete the pledge registration of the Pledged Interests under this Agreement after the execution of this Agreement when appropriate. Such registration of Pledged Interests shall be completed within 20 working days after the date of this Agreement or other time period agreed by the Parties, and the certification documents concerning the registration with AIC shall be delivered to and kept by the Pledgee. The Parties jointly confirm that, in order to complete the procedure of pledge registration with AIC, the Parties and other shareholders of the Company shall submit this Agreement, or, a Pledge Contract executed in the way complying with the requirements of the AIC of the registered place of the Company in which truly reflects the information of the Pledge under this Agreement (“Pledge Agreement for AIC Registration”) to AIC. Matters that are not specified in the Pledge Agreement for AIC Registration shall be subject to the provisions of this Agreement. The Pledgors and the Company shall, as per required by relevant AIC and pursuant to the PRC laws and regulations, submit all necessary documents and complete all necessary procedures to ensure that the Pledge will be registered as soon as possible after filing the application.
3.3 In case of any Event of Default, the Pledgee shall be entitled to dispose the Pledged Interests in accordance with Article 8 of this Agreement.
3.4 Within the Term of Pledge, the Pledgors may, after obtaining prior consent from the Pledgee, receive dividends, bonuses or other profits generated from the Pledged Interests. The Pledgors agree that during the duration of the pledge of the equity interests, the Pledgee shall have the right to receive any dividend or bonus generated from the...
Term of the Pledge. 3.1 The pledge shall become effective on the date the Pledge is entered in Rampage Shopping’s shareholders’ register. The pledge shall be continuously valid until the Obligations have been fully discharged (the “Term”).
3.2 The Pledgor and Rampage Shopping shall enter the Pledge in Rampage Shopping’s shareholders’ register within three (3) business days after the execution of this Agreement.
Term of the Pledge. 3.1. The Pledge shall become effective as of the date when the Pledge herein is registered with the administrations of industry and commerce, which will remain effective until the termination date or early termination of the Master Agreement, and when all payments due to the Pledgee under the Master Agreement have been settled or the Pledgee has realized its Pledge in accordance with the provisions of this Agreement (“Term of the Pledge”).
3.2. During the Term of the Pledge, in the event that the Target Company fails to make payments due to the Pledgee pursuant to the provisions of the Master Agreement, the Pledgee shall have the right, but without any obligation, to exercise or dispose of the Pledge in accordance with this Agreement and relevant PRC laws and regulations.
Term of the Pledge. (1) The Pledge shall take effect on the Execution Date and shall subsist and continue to be in force until the earlier of the date upon which (i) the Closing under the Share Purchase Agreement shall have been consummated, or (ii) the Secured Obligations shall have been performed or extinguished in full.
(2) In the event that the term of the Pledge shall have expired pursuant to Section 4(1), the Pledgee shall immediately release the Pledge upon the Pledged Shares. In such case, the Pledgee shall take necessary steps to release the Pledge upon the Pledged Shares, including, but not limited to, providing necessary documents to the Pledgor.
Term of the Pledge. 3.2.1 The Pledge shall take effect as of the date when the pledge of the Equity Interest is recorded in the Register of Shareholders of Baidu Netcom and registered with the competent industrial and commercial authority, and shall remain in effect until two (2) years after all Secured Obligations under the Principal Agreement have been fulfilled.
3.2.2 During the term of the Pledge, the Pledgee shall be entitled to dispose of the Pledge in accordance with this Agreement in the event that the Pledgor fails to perform his obligations under the Loan Arrangement or Baidu Netcom fails perform its obligations under the Services Agreement.
Term of the Pledge. (1) The Pledge shall take effect on the Execution Date and shall subsist and continue to be in force until the earlier of the date upon which (i) the Closing under the Share Purchase Agreement shall have been consummated, (ii) the Share Purchase Agreement shall have been properly terminated in accordance with Article 8 of the Share Purchaser Agreement, or (iii) the Secured Obligations shall have been performed or extinguished in full.
(2) In the event that the term of the Pledge shall have expired pursuant to Section 4(1), the Pledgee shall immediately release the Pledge upon the Pledged Shares. In such case, the Pledgee shall take necessary steps to release the Pledge upon the Pledged Shares, including, but not limited to, providing necessary documents to the Pledgor.
Term of the Pledge. 3.1 The Pledge shall become effective on such date when Party C is registered with the relevant administration for industry and commerce (the “AIC”). The parties agree that on the date of signing this agreement, the Pledor and Party C shall, in accordance with the measures for the registration of equity pledge of the administration for industry and commerce, submit to the registration authority an application for registration of the pledge of equity. The parties further agree that within 20 working days from the date of formal acceptance of the application for registration of equity pledge by the registration authority, the registration procedures for equity pledge will be completed, the registration notice issued by the registration authority shall be obtained, and the equity pledge should be recorded intact and accurately in the registration book of the equity pledge.
3.2 The pledge shall remain in force and the term of pledge shall terminate at the earlier of the following 3 dates: (1) The date on which the unpaid secured obligation has been fully liquidated or paid in other applicable manner; and (2) the date on which the Pledgee exercises the right of pledge in accordance with the terms and conditions of this agreement for the fulfill of its rights; or (3) the date on which the Pledgor transfers all of its equity to the Pledgee or a third party (natural or legal person) designated by the Pledgee under the Exclusive Share Purchase Option Agreement and no longer holds the equity of Party C. During the term of pledge, if the Pledgor or Party C fails to perform their respective obligations under the main agreements, the pledgee shall have the right, but not the obligation, to dispose of the pledge in accordance with the provisions of this agreement.
Term of the Pledge. 4.1 The Pledge shall remain in force, and the term of the Pledge shall terminate on the earlier of (1) the date when all outstanding secured debts have been paid off or repaid in other applicable ways; (2) the date when the Pledgee exercises its pledge rights in accordance with the terms and conditions of this Agreement for the full realization of its rights over the secured debts and the Pledged Shares; or (3) the date when the Pledgors transfer all their shares to the Cayman Company or a third party designated by the Cayman Company (a natural or legal person) in accordance with the Exclusive Equity Option Agreement and no longer hold the shares of the Company.
4.2 During the term of the Pledge, if the Pledgors or the Company or their subsidiaries fail to perform their respective obligations under the major agreements, the Pledgee shall have the right to dispose of the Pledged Shares in accordance with the provisions of this Agreement.
4.3 The Pledgee shall have the right to receive any or all dividends or other distributable interests arising from the Pledged Shares and to determine the distribution or disposal of such dividends or interests at its own discretion.
