Common use of Equity Pledge Release Clause in Contracts

Equity Pledge Release. The Equity Pledge will be released once the [***] Miners designated by Tenant within Powered Shell-A and the associated Encumbered Personal Property (defined in Section 14.5) are installed at the Premises and become subject to the Landlord’s lien pursuant to Section 14.5. The parties shall reasonably cooperate to cause a UCC-1 financing statement evidencing Landlord’s lien on the such designated Miners and associated Encumbered Personal Property installed in Powered Shell-A to be filed and the Equity Pledge to be released and termination statement(s) reflecting the termination of Landlord’s security interest in Air HPC shall be filed with the Delaware Secretary of State through a customary escrow arrangement.

Equity Pledge Release. The Equity Pledge will be released once the first [***] Miners designated by Tenant within Powered Shell-A and the associated Encumbered Personal Property (defined in Section 14.5) are installed at the Premises and become subject to the Landlord’s lien pursuant to Section 14.5. The parties shall reasonably cooperate to cause a UCC-1 financing statement evidencing Landlord’s lien on the such designated first [***] Miners and associated Encumbered Personal Property installed in Powered Shell-A to be filed and the Equity Pledge to be released and termination statement(s) reflecting the termination of Landlord’s security interest in Air HPC shall be filed with the Delaware Secretary of State through a customary escrow arrangement.