Party B definition
Examples of Party B in a sentence
Party A and Party B entered into the “Astra Equity-for-Share Merger Agreement” on February 28, 2025, and agreed to complete the merger through a share swap arrangement; and Party A, Party B, Party C, and Party D wish to further clarify the arrangements concerning the relevant share issuance, registration, and lock-up periods.
Party B, Party C, and Party D jointly and severally covenant and warrant that the transfer of the equity interest in Party B shall be in full compliance with all applicable laws and regulations and that they shall undertake all necessary filing and disclosure procedures.
Should Party B fail to complete the successful registration of all intellectual property within eighteen (18) months from the date of this Agreement, the shares held in the escrow account shall be forfeited and returned to Party A.
Consequently, Party B shall become a wholly-owned subsidiary of Party A.