Release of Pledges Sample Clauses

The 'Release of Pledges' clause defines the conditions under which pledged assets or collateral are returned to the pledgor, typically after the underlying obligation has been fulfilled or certain criteria have been met. In practice, this clause outlines the process for confirming satisfaction of the debt or obligation, specifies any required documentation, and details the timeline for releasing the pledged property. Its core function is to ensure that once the secured party's interests are satisfied, the pledgor regains control of their assets, thereby providing clarity and fairness in the management of collateral.
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Release of Pledges. 6.1 Eurex Clearing AG will only release the pledges granted pursuant to Clauses 2.2 to 2.5 upon (i) a termination in respect of the Clearing Member pursuant to Chapter I Part 1 Number 13 of the Clearing Conditions or the completion of the default management process in respect of such Clearing Member, as the case may be, and (ii) the full and final discharge of all claims secured by such pledges.
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Release of Pledges. NAI shall cause the Selling Stockholder to cause the Shares to be released from any and all pledges and other liens, encumbrances, equities and claims under NAI’s existing debt instruments in accordance with the respective terms thereof such that the Shares may be delivered at the Closing Time and at any Settlement Time, as the case may be, in accordance with the terms hereof.
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Release of Pledges. Notwithstanding the application (if relevant) of Sections 5.05(b) or (c), Buyer covenants and undertakes to each Seller that it shall take all such necessary action and execute and deliver any instruments and documents as may, at any time, be necessary under Applicable Law or otherwise reasonably requested by such Seller to ensure release of all of its Seller Shares (including, for the avoidance of doubt, any American Depositary Receipts or Global Depositary Receipts with respect to such Seller Shares) pledged pursuant to any Pledge Agreement immediately upon the termination of this Agreement for any reason whatsoever.
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Release of Pledges. Each Purchaser or its special counsel shall have received evidence satisfactory to such special counsel that each “Interest Rate Pledge” under and as defined in each relevant Material Credit Facility shall have been terminated and all security interests granted pursuant thereto shall have been released.
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Release of Pledges. It is understood and agreed that the pledges of stock identified on SCHEDULE 5.4 will be released on or before the Closing Date and all outstanding stock of the Company will be free and clear of all Liens.
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Release of Pledges. Effective upon the Consummation, (i) PLC is hereby released from its obligations under the General Partner Pledge Agreement dated as of September 21, 1999, (ii) each of Panda I and Panda II are hereby released from their respective obligations under the Partnership Interest Pledge Agreement dated as of September 21, 1999, and (iii) TPS II is hereby released from any obligations it may have pursuant to either of the foregoing.
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Release of Pledges. The Seller shall obtain the release of all liens on the assets of the Company and pledges of the capital stock of the Company and the subsidiaries of the Company.
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Related to Release of Pledges

  • Release of Pledge 3.1 After the Pledgors and the Company fully and completely perform all of the Contractual Obligations and discharge all of the Secured Liabilities, the Pledgee shall, upon the Pledgors’ request, release the Equity Pledge under this Agreement and cooperate with the Pledgors to cancel the registration of the Equity Pledge on the Company’s register of shareholders and with the administration of industry and commerce in charge of the Company. The Pledgee shall assume the reasonable expenses arising out of the release of the Equity Pledge.

  • Exercise of Pledge 8.1 Pledgee shall issue a written Notice of Default to Pledgor when it exercises the Pledge. 8.2 Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge at any time after the issuance of the Notice of Default in accordance with Section 8.1. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest. 8.3 After Pledgee issues a Notice of Default to Pledgor in accordance with Section 8.1, Pledgee may exercise any remedy measure under applicable PRC laws, the Transaction Documents and this Agreement, including but not limited to being paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from auction or sale of the Equity Interest. The Pledgee shall not be liable for any loss incurred by its duly exercise of such rights and powers. 8.4 The proceeds from exercise of the Pledge by Pledgee shall be used to pay for tax and expenses incurred as result of disposing the Equity Interest and to perform Contract Obligations and pay the Secured Indebtedness to the Pledgee prior and in preference to any other payment. After the payment of the aforementioned amounts, the remaining balance shall be returned to Pledgor or any other person who have rights to such balance under applicable laws or be deposited to the local notary public office where Pledgor resides, with all expense incurred being borne by Pledgor. To the extent permitted under applicable PRC laws, Pledgor shall unconditionally donate the aforementioned proceeds to Pledgee or any other person designated by Pledgee. 8.5 Pledgee may exercise any remedy measure available simultaneously or in any order. Pledgee may exercise the right to being paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from auction or sale of the Equity Interest under this Agreement, without exercising any other remedy measure first. 8.6 Pledgee is entitled to designate an attorney or other representatives to exercise the Pledge on its behalf, and Pledgor or Party C shall not raise any objection to such exercise. 8.7 When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in accordance with this Agreement.

  • Release of Pledged Collateral The Administrative Agent may release any of the Pledged Collateral from this Pledge Agreement or may substitute any of the Pledged Collateral for other Pledged Collateral without altering, varying or diminishing in any way the force, effect, lien, pledge or security interest of this Pledge Agreement as to any Pledged Collateral not expressly released or substituted, and this Pledge Agreement shall continue as a first priority lien on all Pledged Collateral not expressly released or substituted.

  • Term of Pledge 3.1 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is registered with relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness have been fully paid. Pledgor and Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the AIC Pledge Contract, the parties shall be bound by the provisions of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 3.2 During the Term of Pledge, in the event Pledgor and/or Party C fails to perform the Contract Obligations or pay Secured Indebtedness, Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement.

  • Effect of Pledge on Certain Rights If any of the Collateral subject to this Agreement consists of nonvoting equity or ownership interests (regardless of class, designation, preference or rights) that may be converted into voting equity or ownership interests upon the occurrence of certain events (including, without limitation, upon the transfer of all or any of the other stock or assets of the issuer), it is agreed that the pledge of such equity or ownership interests pursuant to this Agreement or the enforcement of any of Agent’s rights hereunder shall not be deemed to be the type of event which would trigger such conversion rights notwithstanding any provisions in the Organizational Documents or agreements to which any Debtor is subject or to which any Debtor is party.