The contract conditions included in Article 12 are all customary under German law and are to be recommended in share purchase agreements. This particularly applies to the legal venue clause in Section 12.15 of the master contract. German law regulates the factual and local competence of courts in detail. Under German law, it is possible for registered traders to agree another legal venue which differs from the statutory legal venue, however.

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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