Common use of Pledge Period Clause in Contracts

Pledge Period. 3.1 The Pledge shall take effect from the date on which the Equity pledge hereunder is registered in the industrial and commercial administrative department (the “Registration Authority”) where Party C is located and be valid (the “Pledge Period”) from such effective date to: (1) the date on which the last Secured Debt and Contractual Obligations secured by such Pledge are fully settled and performed, or (2) the date on which the Pledgee and/or its designee decide/decides to purchase all the Equity of Party C held by the Pledgor in accordance with Exclusive Call Option Agreement under the Laws of China, and the Equity of Party C has been legally transferred to the Pledgee and/or its designee who have/has legally engaged in the business of Party C, or (3) the date on which the Pledgee unilaterally requests the termination of this Agreement (the Pledgee’s right to terminate this Agreement is the right without any restrictive conditions, and the right is only enjoyed by the Pledgee. The Pledgor or Party C shall not have the right to unilaterally terminate this Agreement, or (4) the date on which the Pledgee has fully realized the Pledge in accordance with this Agreement, or (5) the date on which relevant applicable laws and regulations of China require termination.