Release of Shares from Pledge. Upon the full payment of all amounts due to the Pledgee under the Note, the parties hereto shall notify the Escrow Agent to such effect in writing. Upon receipt of such written notice, the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the Shares, whereupon any and all rights of Pledgee in the Pledged Materials shall be terminated. Notwithstanding anything to the contrary contained herein, upon full payment of all amounts due to the Pledgee under the Note, this Agreement and Pledgee's security interest and rights in and to the Shares, shall terminate.
Appears in 3 contracts
Samples: Pledge and Escrow Agreement (Americana Publishing Inc), Pledge and Escrow Agreement (Connected Media Technologies, Inc.), Pledge and Escrow Agreement (Trust Licensing, Inc., F/K/a New Mountaintop CORP)
Release of Shares from Pledge. Upon the full payment of all amounts due to the Pledgee under the NoteNotes, the parties hereto shall notify the Escrow Agent to such effect in writing. Upon receipt of such written notice, the Escrow Agent shall return to the Pledgor the Transfer Documents and the certificates representing the Shares, whereupon any and all rights of Pledgee in the Pledged Materials shall be terminated. Notwithstanding anything to the contrary contained herein, upon full payment of all amounts due to the Pledgee under the NoteNotes, this Agreement and Pledgee's ’s security interest and rights in and to the Shares, shall terminate.
Appears in 1 contract
Samples: Pledge and Escrow Agreement (Airbee Wireless, Inc.)
