9.4 Each Party shall have the right to transfer, assign or sell any or all of its shares to any of its affiliates (the definition of affiliate as per the Securities and Exchange law) without such shares being subject to the rights of first refusal set forth in this Clause or the Board’s approval; provided that the transferring Party shall remain bound by all obligations undertaken under this Agreement and that the affiliates shall first expressly accede and assume all of the rights and obligations of the Provider this Agreement. If any transferee under this Section 9.4 ceases to be an affiliate of the Provider, the Provider shall procure that such transferee promptly the Shares held by it back to the Provider.