Common use of Chapter TWELVE Clause in Contracts

Chapter TWELVE. Termination of this Agreement 12.1. This Agreement shall be terminated only in the following circumstances: 12.1.1. after the expiry of the initial term specified in Clause 1.1, if the Investor has not extended the term in accordance with Clause 15.11; 12.1.2. if this Agreement is assigned by the Investor to other entities or persons without the Government’s consent, and the Government gives a notice of termination to the Investor; 12.1.3. if both Parties consent to the termination of this Agreement, upon request by the Investor; 12.1.4. if the activities of the Investor are permanently halted by competent authority on the grounds of its bankruptcy, and its activities are not resumed within 120 (one hundred and twenty) Working Days from the date the Cabinet Member responsible for Mineral Resources gave written notice to the Investor to resume its activities; 12.1.5. if the Investor fails to supply a third party operated copper smelter as required by Clause 3.21; 12.1.6. if the Government terminates this Agreement on a unilateral basis in accordance with Clause 10.7; 12.1.7. if shares in the Investor are transferred other than as permitted by, and in material breach of, clause 15 of the Shareholders' Agreement, and the breach is not remedied within 3 (three) months of a written notice from the Government to the Investor to remedy such breach; or 12.1.8. if the Investor fails to issue shares in accordance with clause 3 of the Shareholders’ Agreement on or before the Completion Date. 12.2. The expiry or earlier termination of this Agreement does not affect the Investor’s rights and obligations under mining license 6709A, any other Mining Licenses, unless the Mining Licences are revoked in accordance with Article 56 of the Minerals Law and Clause 10.5, any other Permits granted by the Government to the Investor and any other agreements between the Investor and the Government.