Common use of WITHDRAWAL OPTION Clause in Contracts

WITHDRAWAL OPTION. It is absolutely essential for the Parties that the results from the preliminary activities will give sufficient evidence that: i) the cobalt content of the Slag as to quantity and quality will be to the satisfaction of the Parties as defined in Articles 2 of the Long Term Slag Sales Agreement in the Appendix 2 hereto. ii) the commercial exploitation is viable to the satisfaction of the Parties, in accordance to the feasibility studies, construction and investment calculations related to the processing as well as the other activity plans to be completed in accordance with Article 5.1 above. The Parties shall have a period of consideration of 6 months starting on the date of entering into force of this Agreement. Should the conditions defined in sub-articles i) and ii) not be fulfilled within the said period to the satisfaction of any of the Parties, that Party shall have the right to withdraw from this Agreement without any liability to pay any compensation or reimbursement of costs to other Parties or any reimbursement of its own expenses.

WITHDRAWAL OPTION. It is absolutely essential for the Parties that the results from the preliminary activities will give sufficient evidence thatthat : i) the cobalt content of the Slag as to quantity and quality will be to the satisfaction of the Parties as defined in Articles 2 of the Long Term Slag Sales Agreement in the Appendix 2 hereto. ii) the commercial exploitation is viable to the satisfaction of the Parties, in accordance to the feasibility studies, construction and investment calculations related to the processing as well as the other activity plans to be completed in accordance with Article 5.1 above. 21 21 The Parties shall have a period of consideration of 6 months starting on the date of entering into force of this Agreement. Should the conditions defined in sub-articles i) and ii) not be fulfilled within the said period to the satisfaction of any of the Parties, that Party shall have the right to withdraw from this Agreement without any liability to pay any compensation or reimbursement of costs to other Parties or any reimbursement of its own expenses.