Common use of Feed Clause in Contracts

Feed. Once the pre-FEED results are evaluated and if the parties decide to proceed with the ASPD Technology development, Fulcrum will retain and pay a qualified engineering company to prepare a FEED package along with all process design criteria and simulation information which will allow the ASPD Technology to be licensed to either or both of Nipawin and SRC and third-parties in the ASPD IP License. If the parties do not agree to proceed with the ASPD Technology development within 30 days after Fulcrum’s delivery of the Pre-FEED despite their best commercial efforts, then any party may elect to terminate this Agreement on written notice; provided however, that if one of Nipawin or SRC elects not to proceed (the “Nonproceeding Party”) but the other (the “Proceeding Party”) does elect to proceed, then the Proceeding Party may proceed with the ASPD Technology development with Fulcrum if the Nonproceeding Party has so consented in writing and has enabled the Proceeding Party with all necessary rights to do so, and in such event the Proceeding Party will have and be responsible for all rights and obligations of the Nipawin and SRC parties accruing thereafter under this Agreement.