The above also applies to the suspensive condition conditions which are imposed on the buyer in Article 8 and which also represent the obligations of the seller under the share purchase agreement on the suspensive condition of performance by the buyer.

Again in this case, the suspensive condition can only relate to the validity of the in rem performance transaction. The suspensive conditions agreed in Article 8 on the validity of the in rem performance transaction are valid under German law and should also be included in a share purchase agreement under German law therefore.

For further information please contact Dr Erich Michel, Wessing Berenberg-Gossler Zimmermann Lange, Freiherr-Vom-Stein-Strasse 24-26, Frankfurt am Maim 60323, Frankfurt, Germany- Tel: +496 997 1300, Fax: +496 997 130100.

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