Common use of Fundamental Breach Clause in Contracts

Fundamental Breach. At the option of the Company upon the occurrence of any action set forth below (“Fundamental Breach”). Fundamental Breach shall mean: (i) Argnetum or the Designated Representative's conviction for, or guilty plea to, any criminal offence. An "offence" means: · a summary conviction or indictable offence under the Criminal Code (Canada); or · a quasi-criminal offence (for example under the Income Tax Act (Canada), the Immigration Act (Canada) or the tax, immigration, drugs, firearms, money laundering or securities legislation of any jurisdiction including The Proceeds of Crime (Money Laundering) and Terrorist Financing Act of Canada; (ii) Argentums' or the Designated Representative's engagement in conduct that constitutes wilful neglect or wilful misconduct in carrying out their duties under this Agreement, resulting, in either case, in material harm to the financial condition or reputation of the Company and its subsidiaries (considered on an aggregate basis); (iii) Argentum's or the Designated Representative's wilful breach of Sections 9, 10 or 11 of this Agreement; (iv) Argentum's or the Designated Representative's failure to substantially perform the services to be rendered by Argentum hereunder after receipt of written notice from the Board and a reasonable opportunity (but in no event more than 5 days after notice was delivered) for Argentum or its Designated Representative to cure such non-performance; or (v) Argentum's or the Designated Representative's failure to adhere to, or take affirmative steps to carry out, any legal and proper directive of the Board, after receipt of written notice from the Board and a reasonable opportunity (but in no event more than 5 days after notice was delivered) to cure such non-adherence or failure to act.

Fundamental Breach. At the option of the Company upon the occurrence of any action set forth below (“Fundamental Breach”). Fundamental Breach shall mean: (i) Argnetum Bruno or the Designated Representative's conviction for, or guilty plea to, any criminal offence. An "“offence" “ means: · a summary conviction or indictable offence under the Criminal Code (Canada); or · a quasi-criminal offence (for example under the Income Tax Act (Canada), the Immigration Act (Canada) or the tax, immigration, drugs, firearms, money laundering or securities legislation of any jurisdiction including The Proceeds of Crime (Money Laundering) and Terrorist Financing Act of Canada; (ii) ArgentumsBrunos' or the Designated Representative's engagement in conduct that constitutes wilful neglect or wilful misconduct in carrying out their duties under this Agreement, resulting, in either case, in material harm to the financial condition or reputation of the Company and its subsidiaries (considered on an aggregate basis); (iii) ArgentumBruno's or the Designated Representative's wilful breach of Sections 9, 10 or 11 of this Agreement; (iv) ArgentumBruno's or the Designated Representative's failure to substantially perform the services to be rendered by Argentum Bruno hereunder after receipt of written notice from the Board and a reasonable opportunity (but in no event more than 5 days after notice was delivered) for Argentum Bruno or its Designated Representative to cure such non-performance; or (v) ArgentumBruno's or the Designated Representative's failure to adhere to, or take affirmative steps to carry out, any legal and proper directive of the Board, after receipt of written notice from the Board and a reasonable opportunity (but in no event more than 5 days after notice was delivered) to cure such non-adherence or failure to act.

Fundamental Breach. At the option of the Company upon the occurrence of any action set forth below (“Fundamental Breach”). Fundamental Breach shall mean: (i) Argnetum Flotsam or the Designated Representative's ’s conviction for, or guilty plea to, any criminal offence. An "“offence" ” means: · a summary conviction or indictable offence under the Criminal Code (Canada); or · a quasi-criminal offence (for example under the Income Tax Act (Canada), the Immigration Act (Canada) or the tax, immigration, drugs, firearms, money laundering or securities legislation of any jurisdiction including The Proceeds of Crime (Money Laundering) and Terrorist Financing Act of Canada; (ii) Argentums' Flotsam’s or the Designated Representative's ’s engagement in conduct that constitutes wilful neglect or wilful misconduct in carrying out their duties under this Agreement, resulting, in either case, in material harm to the financial condition or reputation of the Company and its subsidiaries (considered on an aggregate basis); (iii) Argentum's Flotsam’s or the Designated Representative's ’s wilful breach of Sections 9, 10 or 11 of this Agreement; (iv) Argentum's Flotsam’s or the Designated Representative's ’s failure to substantially perform the services to be rendered by Argentum Flotsam hereunder after receipt of written notice from the Board and a reasonable opportunity (but in no event more than 5 days after notice was delivered) for Argentum Flotsam or its Designated Representative to cure such non-performance; or (v) Argentum's Flotsam’s or the Designated Representative's ’s failure to adhere to, or take affirmative steps to carry out, any legal and proper directive of the Board, after receipt of written notice from the Board and a reasonable opportunity (but in no event more than 5 days after notice was delivered) to cure such non-adherence or failure to act.