CTFO » Topics » RATE OF PLEDGE AND TERM OF PLEDGE

This excerpt taken from the CTFO 8-K filed Feb 6, 2009.
RATE OF PLEDGE AND TERM OF PLEDGE
 
 
3.1
The Rate of Pledge
 
3.1.1
The Rate of Pledge shall be 100%.
 
 
3.2
The Term of Pledge
 
3.2.1
The Pledge of the Equity Interest under this Agreement shall take effect as of the date when the Equity Interest under this Agreement are recorded in the Register of Shareholder of Group and registered with the competent Administration for Industry and Commerce.  The Term of the Pledge is the same as the term of Service Agreement.
 
 
3.2.2
During the Term of Pledge, the Pledgors shall not be entitled to dispose of the Equity Interests.
 
4.           
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