Common use of Conditions Precedent to Transfer Clause in Contracts

Conditions Precedent to Transfer. The conditions precedent to the transfer to a Transferee Company are: (a) prior consultation between the Transferor Party and the other Shareholders; (b) the signing of a Deed of Accession by the Transferee Company; (c) the Transferor Party giving its unconditional guarantee to the other Shareholders in a form reasonably acceptable to the other Shareholders in respect of the due compliance by the Transferee Company with the obligations it will be assuming under this agreement by virtue of the deed of covenant; and (d) the Transferor Party acknowledging in writing to the reasonable satisfaction of the other Shareholders that notwithstanding the transfer of its Shares to the Transferee Company, it remains bound by the terms and conditions of this agreement.

Appears in 2 contracts

Sources: Shareholders Agreement (Agria Corp), Shareholders Agreement (Agria Corp)