Common use of Re-export Clause in Contracts

Re-export. On goods imported into Suriname pursuant to the provisions of this Chapter 8, which Surgold intends to re-export, the Republic of Suriname shall have an option right to purchase the goods, and more in particular at ‘book value’ of the goods. In this respect, Surgold will offer the property for sale to the Republic of Suriname, and give the Republic of Suriname a sixty (60) day term to accept or refuse the offer. In case there is no response from the Republic of Suriname after such sixty (60) day period, Surgold shall be entitled to re-export the property on the same terms and with the same privileges and exemptions as are set forth in this Chapter 8, but subject, in the case of a sale upon termination of this Agreement, to the provisions of Chapter 18. The term ‘book value’ above for the purposes of this Section will be the value at the moment of transfer, derived from the value of the subject good on the last fiscal balance sheet of Surgold with respect to its Participating Interest in the Venture, as applicable.