Common use of Release of Pledge Clause in Contracts

Release of Pledge. 3.1 Upon sufficient and complete discharge of the Contractual Obligations and repayment of the Secured Indebtedness by the Pledgors and the Company in full, the Pledgee shall, at the request of the Pledgors, release the Pledged Equity Interests and cooperate with the Pledgors to complete the filing of release of the Equity Pledge. The costs and expenses reasonably incurred in connection with such release shall be paid by the Pledgee.

Release of Pledge. 3.1 Upon sufficient the full and complete discharge fulfillment of the Contractual Obligations and repayment discharge of the Secured Indebtedness Liabilities by the Pledgors Pledgers and the Company in fullCompany, the Pledgee shall, at the request of the Pledgorsupon Pledgers’ request, release the Pledged pledge hereunder and assist Pledgers in deregistering the Equity Interests and cooperate Pledge with the Pledgors to complete the filing relevant administration for industry and commerce, and reasonable expenses arising out of release of the Equity Pledge. The costs and expenses reasonably incurred in connection with such release deregistration shall be paid borne by the Pledgee.