Offshore Oil Engineering Co. Ltd, a company registered in the Peoples Republic of China, has agreed to transfer all of its business and assets to the Company, in accordance with an asset transfer agreement dated 27 April 2015 (the "Transfer").
(B) The Transfer includes the transfer (subject to the approval of the relevant authorities in the UAE) of Offshore Oil Engineering Co. Ltd – Abu Dhabi, a branch of a foreign company registered with commercial licence number CN-1713316 (the "Original Branch").
(C) The Company now wishes to register the Original Branch in its own name to carry on the Intended Business (as defined in Clause 1.2.1 hereunder) and to retain the services of the Agent on the same terms as the Agent's appointment with the Original Branch.