Common use of Clauses 9 Clause in Contracts

Clauses 9. 1 to 9.11 shall not apply in the case of a transfer of all or part of the Shares owned by any Shareholder to its Affiliates or Immediate Family Member (whether in connection with transmission of Shares by operation of law or otherwise) (each such transferee, a “Permitted Transferee”) provided that such Permitted Transferee (if not already bound by the provision of this Agreement) shall execute a Deed of Adherence. Following a transfer of Shares to a Permitted Transferee, the original transferring Shareholder (but not a subsequent transferor in a series of transfers to Permitted Transferees) shall remain party to this Agreement and shall be jointly and severally liable with the Permitted Transferee under this Agreement as a Shareholder in respect of the transferred Shares.