Pledge of Equity. 1.1 In order to guarantee UKT Company,all the shareholders of UKT Company(“Shareholders” )and other related responsible parties to perform all obligations and liabilities under the Onshore Agreements, Party A agrees to pledge the Pledged Equities (as defined in Section 4 herein) under this Agreement to Party B pursuant to the terms and conditions of this Agreement, and Party B agrees to accept the above equity pledge, and have priority right to the proceeds from the conversion, auction, or sale of the Pledged Equities.
Appears in 4 contracts
Samples: Equity Pledge Agreement (Bison Petroleum, Corp.), Exclusive Purchase Option Agreement (Bison Petroleum, Corp.), Exclusive Purchase Option Agreement (Bison Petroleum, Corp.)
Pledge of Equity. 1.1 In order to guarantee UKT Company,, all the shareholders of UKT Company(“ShareholdersCompany (“Shareholders” )and other related responsible parties to perform all obligations and liabilities under the Onshore Agreements, Party A agrees to pledge the Pledged Equities (as defined in Section 4 herein) under this Agreement to Party B pursuant to the terms and conditions of this Agreement, and Party B agrees to accept the above equity pledge, and have priority right to the proceeds from the conversion, auction, or sale of the Pledged Equities.
Appears in 2 contracts
Samples: Equity Pledge Agreement (Bison Petroleum, Corp.), Equity Pledge Agreement (Bison Petroleum, Corp.)
