Common use of CAPITAL TRANSFER Clause in Contracts

CAPITAL TRANSFER. Without prior written consent from the other party and approval by the approving authorities, neither party hereto shall transfer to any third party all or part of its share in the JV. If one party intends to transfer all or part of its share in the JV to any third party, the other party shall have the preemptive right to buy the share on conditions not more austere than those for transferring the share to the said third party. It is hereby stated by the other party that if it does not exercise the preemptive right to buy the share, it shall be regarded as consent to the above-mentioned transfer.