Exercise of the Pledge Clause Samples

Exercise of the Pledge. 8.1. The Pledgor shall not waive, transfer or otherwise dispose the Pledged Equity without prior written consent of the Pledgee, prior to the full performance of the Contractual Obligations. 8.2. The Pledgee shall give a written Notice of Default to the Pledgor when it intends to exercise the Pledge. 8.3. Subject to Article 7.3, the Pledgee may exercise the right to enforce the Pledge when issuing the Notice of Default in accordance with Article 7.3 or at any time thereafter. 8.4. Upon issuing a Notice of Default under Article 7.3, the Pledgee may exercise all remedies for breach of contract under the PRC laws and hereunder, including without limitation, acquiring the Pledged Equity at discounted price, or auction or sale of the Pledged Equity with the proceeds to be paid based on the order agreed in Article 8.6, until all Secured Debts are repaid. 8.5. When the Pledgee enforces the Pledge in accordance with this Agreement, the Pledgor shall not put up any obstacle and shall give necessary assistance so as to facilitate the Pledgee’s realization of the Pledge. 8.6. Proceeds obtained by the Pledgee from exercise of the Pledge shall be applied by the following order: firstly, paying all costs arising out of the disposal of the Pledged Equity and the exercise of its rights and powers by the Pledgee (including the remuneration paying to the attorneys and agents of the Pledgee); secondly, paying taxes payable due to disposal of the Pledged Equity; thirdly, repaying the Secured Debts to the Pledgee. In case of any balance upon netting of such payments, the Pledgee shall refund the balance to the Pledgor or other persons who are entitled to such balance according to relevant laws and regulations, or deposit the same to a notarization authority at the domicile of the Pledgee (and any costs so incurred shall be solely borne by the Pledgor). After the Pledged Equity is converted into money, auctioned or sold, if the proceeds so obtained are insufficient to repay all Secured Debts, the difference shall be paid by the Pledgor.

Exercise of the Pledge. 8.1 The Pledgor shall not transfer or assign the Equity Interest without prior written approval from the Pledgee prior to the full repayment of the Fees under the Service Agreement or full performance of his/her obligations under the Loan Agreement, whichever is later. 8.2 The Pledgee shall give a notice of default to the Pledgor when the Pledgee exercises the Pledge. 8.3 Subject to Article 7.3, the Pledgee may exercise the Pledge when the Pledgee gives a notice of default in accordance with Article 7.3 or at anytime thereafter. 8.4 The Pledgee is entitled to priority in receiving payment in the form of all or part of the Equity Interest based on the conversion value thereof, or from the proceeds from the auction or sale of all or part of the Equity Interest in accordance with legal procedure, until the outstanding debt and all other payables of the Pledgor under Service Agreement are repaid. 8.5 The Pledgor shall not hinder the Pledgee from exercising the Pledge in accordance with this Agreement and shall give necessary assistance so that the Pledgee could fully exercise its Pledge.

Exercise of the Pledge. 在质权人行使其质押权利时，质权人应向出质人发出书面违约通知。 The Pledgee shall issue a written Notice of Default to the Pledgor when it exercises the Pledge.

Exercise of the Pledge. 8.1 Prior to the full performance of the Business Cooperation Agreement and the full payment of the consultation and service fee set forth thereunder, without written consent of Pledgee, Pledgor shall not transfer the Pledge or its Equity in Party C. 8.2 Pledgee may give a Notice of Default to Pledgor when it intends to exercise the Pledge. 8.3 Subject to Article 7.3, Pledgee may exercise the right to enforce the Pledge simultaneously with or at any time after the issuance of the Notice of Default in accordance with Article 7.2. Once Pledgee chooses to enforce the Pledge, Pledgor shall no longer own any right or interest relating to the Equity. 8.4 In case of default, within the permitted scope and in accordance with applicable laws, Pledgee shall be entitled to legally dispose the pledge Equity; and the balance, if any, of all proceeds received by Pledgee from its exercise of the Pledge after discharge of the secured obligation shall be paid to Pledgor or the person entitled to receive such amount, without interest. 8.5 When Pledgee disposes the Pledge in accordance with this Agreement, Pledgor and Party C shall give necessary assistance so that Pledgee may enforce the Pledge in accordance with this Agreement. 8.6 All actual expenses, taxes and all legal costs, etc. relating to the creation of equity pledge hereunder and the realization of the rights of Pledgee shall be borne by Pledgor, except for those required by laws to be borne by Pledgee.

Exercise of the Pledge. 8.1 The Pledgee shall issue a written Notice of Default to the Pledgor when it exercises the Pledge. 8.2 Subject to the provisions of Section 7.3, the Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 8.1. Once the Pledgee elects to enforce the Pledge, the Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.3 After the Pledgee issues a Notice of Default to the Pledgor in accordance with Section 8.1, the Pledgee may exercise any remedy measure under the applicable PRC laws, the Transaction Documents and this Agreement, including but not limited to being paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from the auction or sale of the Equity Interest. The Pledgee shall not be liable for any loss incurred by its duly exercise of such rights and powers.

Exercise of the Pledge. 1The Pledgee shall issue a written Notice of Default to the Pledgors for the exercise of the Pledge.

Exercise of the Pledge. 8.1 The Pledgor shall not transfer or assign the Equity Interest without prior written consent from the Pledgee prior to the full performance of his obligations under the Loan Arrangement and supplementary agreement and full payment of all Service Fees under the Services Agreement, whichever is later. 8.2 The Pledgee shall give a Notice of Default to the Pledgor when the Pledgee exercises the Pledge. 8.3 Subject to Article 7.3, the Pledgee may exercise the Pledge when the Pledgee gives a Notice of Default in accordance with Article 7.3 or at any time thereafter. 8.4 The Pledgee is entitled to priority in receiving payment in the form of all or part of the Equity Interest at a discounted value, or from the proceeds from the auction or sale of all or part of the Equity Interest in accordance with legal procedure, until the outstanding debt and all other payables of the Pledgor under Loan Arrangement and Services Agreement are repaid. 8.5 The Pledgor shall not hinder the Pledgee from exercising the Pledge in accordance with this Agreement and shall give necessary assistance so that the Pledgee could fully exercise its Pledge.

Exercise of the Pledge. 8.1 The Pledgee shall issue a written Notice of Default to the Pledgor when it exercises the Pledge. 8.2 Subject to the provisions of Section 7.3, the Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 8.1.

Exercise of the Pledge. 8.1 Until the full performance of the Series Cooperation Agreement and the full repayment of any amounts payable thereunder, the Pledgor shall not transfer the Pledge or the Equity Interest without the written consent of the Pledgee. 8.2 The Pledgee may issue a default notice to the Pledgor upon its exercise of the Pledge. 8.3 Subject to the provision of Article 7.3, the Pledgee may exercise its rights to enforce the Pledge at the same time as the default notice is issued under Article 7.2 or at any time after the default notice is given. Once the Pledgee has chosen to enforce the Pledge, the Pledgor shall not be entitled to any rights or interests related to the Equity Interest. 8.4 In the event of any default, the Pledgee shall be entitled to dispose of the Equity Interest under the Pledge within the scope of permission and in accordance with applicable laws. In case that there is any balance from all amounts received by the Pledgee due to its exercise of Pledge after the settlement of the Secured Debts, such balance shall be paid to the Pledgor or any persons entitled to such payment (without interest). 8.5 Where the Pledgee disposes of the Pledge in accordance with the Agreement, the Shareholders and the Company shall provide necessary assistance to enable the Pledgee’s enforcement of the Pledge according to the Agreement. 8.6 All actual expenses, taxes and all legal fees related to the establishment of the Pledge of the Equity Interest and the exercise of the Pledgee’s rights shall be borne by the Pledgor, save for those borne by the Pledgee as stipulated by the law.