Common use of Ring Fencing Clause in Contracts

Ring Fencing. 9.1 No person or entity will become a BEE Shareholder until such person or entity has signed a deed of adherence in a form acceptable to the Company binding itself to the provisions of this Agreement and the other Transaction Documents and all such persons will be either Black Entities or Black People. 9.2 If any event occurs or any circumstance arises which constitutes a breach or which is reasonably expected to result in a breach of any provisions of this clause 9, each of the BEE Parties shall immediately give notice thereof to the Company upon becoming aware of such event or circumstance. For this purpose, as soon as such event or circumstance comes to the knowledge of any director of BEE SPV, BEE SPV shall be deemed to have knowledge of the event or circumstance in question.

Ring Fencing. 9.1 No person or entity will become a BEE Shareholder until such person or entity has signed a deed of adherence in a form acceptable to the Company binding itself to the provisions of this Agreement and the other Transaction Documents and all such persons will be either Black Entities or Black People. 9.2 If any event occurs or any circumstance arises which constitutes a breach or which is reasonably expected to result in a breach of any provisions of this clause 9, each of the BEE Parties shall immediately give notice thereof to the Company upon becoming aware of such event or circumstance. For this purpose, as soon as such event or circumstance comes to the knowledge of any director of BEE SPVBORN FREE, BEE SPV BORN FREE shall be deemed to have knowledge of the event or circumstance in question.