Common use of Equity Interest Transfer Clause in Contracts

Equity Interest Transfer. 1. The Transferor hereby agrees to transfer the Subject Equity Interest to the Transferee pursuant to the stipulations hereof. 2. The Transferee shall be transferred of the Subject Equity Interest pursuant to the stipulations hereof. 3. As of the later of the date on which this Agreement becomes effective and the date on which Sunshine Pharmaceutical completes its registration with relevant government administration offices industry and commerce for the transfer of the Subject Equity Interest, the Transferee shall immediately become the legal owner of the Subject Equity Interest and be entitled to and assume all the rights and obligations in relation to the Subject Equity Interest. The Transferor shall no longer be entitled to any rights in relation to the Subject Equity Interest or assume any obligations or liabilities in relation to the Subject Equity Interest, unless otherwise provided herein. The Transferor shall be obliged to assist the Transferee and Sunshine Pharmaceutical in completing all necessary legal procedures in relation to the transfer of the Subject Equity Interest.