Notwithstanding anything to the contrary, upon issuance and delivery of the Initial Bank Guarantee(as defined in clause 9.2 of the Lease Agreement), this Agreement and the pledge given herein shall concurrently terminate without further notice or action on the part of either Party, and the pledge shall be forever extinguished, and the Pledged Property immediately released and unencumbered. Upon receipt of a written confirmation of the Pledgee confirming receipt of such bank guarantee, the Pledgor shall be free to transfer, dispose, sell, or encumber the Pledged Property as they deem appropriate.