Common use of Disposal of Shares Clause in Contracts

Disposal of Shares. 18.5.1 SANParks will, notwithstanding the provisions of Clause 18 and subject to the provisions of Clause 11, 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 provided that: 18.5.1.1 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; 18.5.1.2 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 under the PPP Agreement and the Loan Agreements, as demonstrated by the Private Party's ability to meet the criteria set out in Annexure VII.

Disposal of Shares. 18.5.1 SANParks will, notwithstanding the provisions of Clause 18 and subject to the provisions of Clause 11, 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 provided that: 18.5.1.1 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;Business 18.5.1.2 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 under the PPP Agreement and the Loan Agreements, as demonstrated by the Private Party's ability to meet the criteria set out in Annexure VII.

Disposal of Shares. 18.5.1 SANParks will, notwithstanding the provisions of Clause 18 and subject to the provisions of Clause 11, 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 provided that: 18.5.1.1 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; 18.5.1.2 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 under the PPP Agreement and the Loan Agreements, as demonstrated by the Private Party's ability to meet the criteria set out in Annexure VIIVI - Shareholding, Company Structure and Required Qualifications to Operate Project Site.

Disposal of Shares. 18.5.1 34.4.1 SANParks will, notwithstanding the provisions of Clause 18 and subject to the provisions of Clause 1134, 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 and provided that: 18.5.1.1 34.4.1.1 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;Business 18.5.1.2 34.4.1.2 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 under in terms hereof; and 34.4.1.3 SANParks cannot reasonably object to the PPP Agreement and the Loan Agreements, as demonstrated by the Private Party's ability to meet the criteria set out in Annexure VIIsale for any reason.