Common use of Subject to Clause 15 Clause in Contracts

Subject to Clause 15. 03, Buyer may assign its rights and transfer its obligations under this Agreement to its Affiliate with the prior consent of the Seller, which shall not be unreasonably withheld. Provided that: 15.02.01 an entity shall qualify as an “Affiliate” of the Party if it, directly or indirectly, controls, is controlled by or is under common control of such Party; the term “control” means the right to cast more than 50% (fifty percent) of the votes exercisable at an annual general meeting of such Party (or its equivalent) or ownership of more than 50% (fifty percent) of the equity share capital of or other ownership interests in such entity, or the right to direct the policies or operations of such entity;