Common use of ASSET CALL OPTION Clause in Contracts

ASSET CALL OPTION. DSBT and the Shareholder hereby further undertake to grant DSHK irrevocably an option to purchase assets within the term of this Agreement: to the extent not violating the mandatory requirements under Laws of Malaysia, DSBT will transfer all of its assets and liabilities to DSHK and/or other entity or individual designated by it when required by DSHK. In case of the DSHK exercising the Asset Call Option in its sole discretion upon the occurrence of the situation in which such call option exercise become feasible under the relevant laws in Malaysia, any additional consideration paid other than the MYR 1.00 which may be required under the laws of Malaysia to effect such purchase to comply with such legal formalities shall be either cancelled or returned to the company immediately with no additional compensation to the DSBT and Shareholder. DSBT and Shareholder hereby acknowledge the purpose of such provisions and hereby agree and authorize the company to take any and all actions to effect such transaction and agrees irrevocably to execute any and all documents and instruments and authorize the company’s relevant officers to sign on his or her behalf and hereby gives the company and any of its relevant officers a proxy to execute and deliver such documents and instruments to effect the purpose of this provision and hereby waives any defense or claim of causes of action to challenge or defeat this provision.

ASSET CALL OPTION. DSBT DSAC and the Shareholder Shareholders hereby further undertake to grant DSHK irrevocably an option to purchase assets within the term of this Agreement: to the extent not violating the mandatory requirements under Laws of MalaysiaThailand, DSBT DSAC will transfer all of its assets and liabilities to DSHK and/or other entity or individual designated by it when required by DSHK. In case of the DSHK exercising the Asset Call Option in its sole discretion upon the occurrence of the situation in which such call option exercise become feasible under the relevant laws in MalaysiaThailand, any additional consideration paid other than the MYR THB 1.00 which may be required under the laws of Malaysia Thailand to effect such purchase to comply with such legal formalities shall be either cancelled or returned to the company immediately with no additional compensation to the DSBT DSAC and ShareholderShareholders. DSBT DSAC and Shareholder Shareholders hereby acknowledge the purpose of such provisions and hereby agree and authorize the company to take any and all actions to effect such transaction and agrees irrevocably to execute any and all documents and instruments and authorize the company’s relevant officers to sign on his or her behalf and hereby gives the company and any of its relevant officers a proxy to execute and deliver such documents and instruments to effect the purpose of this provision and hereby waives any defense or claim of causes of action to challenge or defeat this provision.