Common use of DEEDS OF ADHERENCE Clause in Contracts

DEEDS OF ADHERENCE. 13.1 Subject to the provisions of Clause 13.2, no Transfer or allotment of any Shares and CPECs shall be made unless the transferee or allottee shall have first executed a Deed of Adherence and such Deed shall have been delivered to the Company at its registered office and to the Shareholders. 13.2 No Deed of Adherence need be executed: 13.2.1 if the transferee or allottee, as the case may be, is already a Party to this Agreement (in the same capacity as that in which the transferor is a Party in respect of the Shares and CPECs in question); or 13.2.2 if the Board obtains the consent of the Lion Parties to a waiver of the need for a Deed of Adherence. 13.3 Each Party acknowledges and agrees that, upon the transferee or allottee duly executing the Deed of Adherence, such person shall become a Party to this Agreement in accordance with the terms of the Deed of Adherence in the capacity stated in the Deed of Adherence in accordance with the provisions of Schedule 2.