Common use of Beneficiaries of this Agreement Clause in Contracts

Beneficiaries of this Agreement. The Parties acknowledge that the obligations undertaken by them under Sections 3, 4, 5 and 6 of this Agreement (“Obligations Under This Agreement”) were also set forth to the benefit of the holders of the Convertible Debentures, the First Out Notes and the Second Out Notes or, in case the Convertible Debentures, the First Out Notes and the Second Out Notes are no longer outstanding, to the benefit of the holders of the majority of the preferred shares issued by the Company (“Beneficiaries”), which are entitled to the benefits arising from the Obligations Under This Agreement with no need of any kind of consideration. Pursuant to Article 436, sole paragraph, of Brazilian Civil Code, the requirement, by any of the Beneficiaries, of the enforcement of any Obligation Under This Agreement will make the relevant Beneficiary subject to the terms and conditions of this Agreement.