Common use of Disposal of Shares Clause in Contracts

Disposal of Shares. 32.5.1 SANParks will, notwithstanding the provisions of Clause 32, approve any sale of shares or other beneficial interest in the Private Party and permit that the Shareholders or beneficiaries sell any such shares or beneficial interest where such change does not bring about a change in control as understood in terms of the Companies Xxx 0000 (Act No. 71 of 2008) and provided that: 32.5.1.1 the Private Party informs SANParks of its intention to sell or permit the sale of such shares or beneficial interest at least 30 (thirty) Business Days before such sale is scheduled to take place; 32.5.1.2 the sale of such shares or beneficial interest does not alter the financial and technical capability of the Private Party to perform and assume the obligations of the Private Party in terms hereof. 32.5.2 SANParks shall only have the right to refuse such sale of shares or beneficial interest if either of the two criteria above are not met, or if the proposed buyer has been convicted or otherwise fined in a court of law, or other Relevant Authority, for breaches of trading or environmental regulations in the Republic of South Africa or elsewhere.

Disposal of Shares. 32.5.1 30.5.1 SANParks will, notwithstanding the provisions of Clause 3230, approve any sale of shares or other beneficial interest in the Private Party and permit that the Shareholders or beneficiaries sell any such shares or beneficial interest where such change does not bring about a change in control as understood in terms of the Companies Xxx 0000 (Act No. 71 of 2008) and provided that: 32.5.1.1 30.5.1.1 the Private Party informs SANParks of its intention to sell or permit the sale of such shares or beneficial interest at least 30 (thirty) Business Days before such sale is scheduled to take place; 32.5.1.2 30.5.1.2 the sale of such shares or beneficial interest does not alter the financial financial, BEE and technical capability of the Private Party to perform and assume the obligations of the Private Party in terms hereof. 32.5.2 30.5.2 SANParks shall only have the right to refuse such sale of shares or beneficial interest if either of the two criteria above are not met, or if the proposed buyer has been convicted or otherwise fined in a court of law, or other Relevant Authority, for breaches of trading or environmental regulations in the Republic of South Africa or elsewhere.

Disposal of Shares. 32.5.1 29.5.1 SANParks will, notwithstanding the provisions of Clause 3229, approve any sale of shares or other beneficial interest in the Private Party and permit that the Shareholders or beneficiaries sell any such shares or beneficial interest where such change does not bring about a change in control as understood in terms of the Companies Xxx 0000 (Act No. 71 of 2008) and provided that: 32.5.1.1 29.5.1.1 the Private Party informs SANParks of its intention to sell or permit the sale of such shares or beneficial interest at least 30 (thirty) Business Days before such sale is scheduled to take place; 32.5.1.2 29.5.1.2 the sale of such shares or beneficial interest does not alter the financial and technical capability of the Private Party to perform and assume the obligations of the Private Party in terms hereof. 32.5.2 29.5.2 SANParks shall only have the right to refuse such sale of shares or beneficial interest if either of the two criteria above are not met, or if the proposed buyer has been convicted or otherwise fined in a court of law, or other Relevant Authority, for breaches of trading or environmental regulations in the Republic of South Africa or elsewhere.

Disposal of Shares. 32.5.1 SANParks will, notwithstanding the provisions of Clause 32, approve any sale of shares or other beneficial interest in the Private Party and permit that the Shareholders or beneficiaries sell any such shares or beneficial interest where such change does not bring about a change in control as understood in terms of the Companies Xxx 0000 (Act No. 71 of 2008) and provided that: 32.5.1.1 : the Private Party informs SANParks of its intention to sell or permit the sale of such shares or beneficial interest at least 30 (thirty) Business Days before such sale is scheduled to take place; 32.5.1.2 ; the sale of such shares or beneficial interest does not alter the financial financial, BEE and technical capability of the Private Party to perform and assume the obligations of the Private Party in terms hereof. 32.5.2 SANParks shall only have the right to refuse such sale of shares or beneficial interest if either of the two criteria above are not met, or if the proposed buyer has been convicted or otherwise fined in a court of law, or other Relevant Authority, for breaches of trading or environmental regulations in the Republic of South Africa or elsewhere.