Banro Events of Default. Each of the following events or circumstances constitutes an event of default by the PSA Entities (each, a “Banro Event of Default”):
Banro Events of Default. 37 10.1 Banro Events of Default 37 10.2 Remedies 38 ARTICLE 11 PURCHASER EVENTS OF DEFAULT 39 11.1 Purchaser Events of Default 39 11.2 Remedies 39 ARTICLE 12 TERMINATION ENTITLEMENT 39 12.1 Termination Entitlement 39 ARTICLE 13 GENERAL 39 13.1 Disputes and Arbitration 39 13.2 Further Assurances 40 13.3 Reimbursement of Expenses 40 13.4 Termination; Survival 41 13.5 No Joint Venture 41 13.6 No Royalty 41 13.7 Governing Law 41 13.8 Notices 41 13.9 Press Releases 43 13.10 Amendments 43 13.11 Beneficiaries 43 13.12 Entire Agreement 43 13.13 Priority Debt Sharing Confirmation 43 13.14 Waivers 44 13.15 Severability 44 13.16 Assignment 44 13.17 Counterparts 44 THIS GOLD PURCHASE AND SALE AGREEMENT dated as of February 27, 2015. BETWEEN: TWANGIZA GFSA HOLDINGS, an exempted company incorporated under the laws of Cayman Islands (the “Purchaser”) - and - BANRO CORPORATION, a corporation existing under the laws of Canada (“Banro”) - and -
Banro Events of Default. 43 11.1 Banro Events of Default 43 11.2 Remedies 44 ARTICLE 12 PURCHASER EVENTS OF DEFAULT 45 12.1 Purchaser Events of Default 45 12.2 Remedies 46 ARTICLE 13 THE AGENT 46 13.1 The Agent 46 ARTICLE 14 GENERAL 47 14.1 Disputes and Arbitration 47 14.2 Further Assurances 47 14.3 Reimbursement of Expenses 47 14.4 Termination; Survival 48 14.5 No Joint Venture 48 14.6 No Royalty 48 14.7 Governing Law 49 14.8 Notices 49 14.9 Press Releases 50 14.10 Amendments 50 14.11 Beneficiaries 50 14.12 Entire Agreement 50 14.13 Debt Sharing Confirmations 51 14.14 Waivers 51 14.15 Severability 51 14.16 Assignment 52 14.17 Joinder 52 14.18 Counterparts 52 THIS GOLD PURCHASE AND SALE AGREEMENT dated as of February 27, 2015. BETWEEN: NAMOYA GSA HOLDINGS, an exempted company incorporated under the laws of Cayman Islands (the “Agent”) - and - Additional Purchasers joined from time to time (“together with the Agent, the “Purchasers”) - and - BANRO CORPORATION, a corporation existing under the laws of Canada (“Banro”) - and - NAMOYA MINING S.A., a corporation existing under the laws of the Democratic Republic of the Congo (the “Seller”) WITNESSES THAT:
Banro Events of Default. 46 11.1 Banro Events of Default 46 11.2 Remedies 47 ARTICLE 12 PURCHASER EVENTS OF DEFAULT 48 12.1 Purchaser Events of Default 48 12.2 Remedies 49 ARTICLE 13 GENERAL 50 13.1 Disputes and Arbitration 50 13.2 Further Assurances 50 13.3 Reimbursement of Expenses 50 13.4 Termination; Survival 51 13.5 No Joint Venture 51 13.6 No Royalty 51 13.7 Governing Law 51 13.8 Notices 52 13.9 Press Releases 53 13.10 Amendments 53 13.11 Beneficiaries 53 13.12 Entire Agreement 54 13.13 Debt Sharing Confirmations 54 13.14 Waivers 55 13.15 Severability 55 13.16 Assignment 55 13.17 Joinder 55 13.18 Counterparts 55 SCHEDULES Schedule A - Description of Seller’s Properties (with map) Schedule B Security Agreements Schedule C Intercreditor Principles Schedule D - Banro and Seller Representations and Warranties Schedule E - Purchaser Representations and Warranties Schedule F Dispute Resolution Schedule G Applicable Entitlement Percentage Schedule H Annual Projected Ounces Schedule I Calculation of Shortfall Schedule J Buyback Price Schedule K Use of Proceeds THIS GOLD PURCHASE AND SALE AGREEMENT dated as of December 31, 2015. BETWEEN: RFW BANRO INVESTMENTS LIMITED, a corporation existing under the laws of British Virgin Islands (the “Purchaser”) - and - BANRO CORPORATION, a corporation existing under the laws of Canada (“Banro”) - and -
