Common use of Conditions of Transfer Clause in Contracts

Conditions of Transfer. No Transfer will be effective, unless the following conditions of Transfer are satisfied: a where Shares are proposed to be transferred to a third party: i the third party has delivered an executed copy of a Deed of Adherence to the Board; and ii the Board is reasonably satisfied that the third party is of good standing, financial substance and reputation; and b the Shareholder wishing to Transfer its Shares has paid all amounts owing by it to BoatCo under this Agreement; and c the Shareholder has paid the Transfer Fee to the Manager.

Conditions of Transfer. No Transfer will be effective, unless the following conditions of Transfer are satisfied: a where Shares are a Share is proposed to be transferred to a third party: i the third party has delivered an executed copy of a Deed of Adherence to the Board; and ii the Board is reasonably satisfied that the third party is of good standing, financial substance and reputation; and b the Shareholder wishing to Transfer its Shares Share has paid all amounts owing by it to BoatCo under this Agreement; and c the Shareholder has paid the Transfer Fee to the Manager.