When do I have to inform other participants of the transfer of ownership of the foreground I own?

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Before the envisaged transfer takes place, you have to inform the other participants about your intention to transfer the ownership of the foreground you own. This communication must also include sufficient information concerning the identity of the assignee to allow the other participants to exercise their access rights directly to the new owner of the foreground. All this information is communicated to the other participants at least 45 days before the transfer of ownership. Please note, however, that a different notice period may be agreed by participants through a written agreement, often the Consortium Agreement.

Such prior notice is not required, however, in the following cases:

(i) agreed transfers to a specifically identified third party (article II.27.2 of the Grant Agreement);

(ii) overriding confidentiality obligations (article II.27.2 of the Grant Agreement).