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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: The MOC can only be terminated or rescinded

The MOC can only be terminated or rescinded

posted on Dec 31, 2008 07:31AM

in special situations.

!. Mutual agreement

2. Persistent breach of the MOC by one of the parties.



The Vanessa lawyer is full of waste matter.

CLAUSE SIXTEENTH

TERMINATION OF THE CONTRACT

1- The CORPORATION and CRYSTALLEX may mutually agree the termination of this Contract when the circumstances so require. Within a period of time to be agreed by the Parties for the resolution of the Contract, both agree to wholly fulfill the obligations under this Contract.

2- In the case of breach by any of the Parties, under clause Sixteenth of this Contract, theaffected Party shall have the right to terminate this Contract immediately after ninety (90) days from the date in which the Party notifies the other in writing, of non-fulfillment of any obligations under this Contract, on condition that within such period of time said breach has not been corrected. If the Party that notifies of the breach considers that it can be corrected before the ninety (90) days mentioned, it must expressly indicate to the other Party in the notification the reasonable period in which the breach of contract must be corrected, with sufficient motivation on which such period is based. If the breach of contract is corrected in a period longer than that reasonably expressed by the aggravated Party, or longer than the period accepted by the latter upon proposal by the aggravating Party, on condition that it not exceed ninety (90) days, the Party that has violated the Contract shall pay the correspondent damages caused by the delay.

The stipulations in this clause shall apply in all cases of breach of contract, except on those cases in which the contract foresees a specific manner and opportunity for the termination of the contract, and the provisions in clause twenty fourth of this contract.

CLAUSE TWENTY FOURTH

RESCITION OF THE CONTRACT

This Contract may unilaterally rescinded by the CORPORATION without indemnity for CRYSTALLEX, in the case of delay in the beginning, suspension of any of its activities or contractual breach for a period of one (1) year without justified motive.

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