Common use of Pledge Right Clause in Contracts

Pledge Right. 3.1 The pledgor shall pledge all equity of the Domestic Company held by it to the pledgee, as the guarantee for the pledgor and the Domestic Company performing all contractual obligations under the transaction documents. 3.2 The pledged equity guarantee covers all service fees, liquidated damages (if any), compensation and expenses for pledge right (including but not limited to attorney fees, arbitration fees, appraisal and auction fees of the pledged equity) payable to the pledgee. 3.3 The pledge right refers to right of the pledgee to be paid in priority with the income from the discount, auction or sale of the equity pledged to it by the pledgor.