Acceleration Event; Notice Sample Clauses
Acceleration Event; Notice. If an Acceleration Event occurs, the Purchase Contracts and the obligations and rights of the Company and the Holders thereunder shall immediately and automatically accelerate, without the necessity of any notice or action by any Holder, the Agent or the Company. Upon the occurrence of an Acceleration Event, the Company shall give written notice to the Agent and to the Holders of Purchase Contracts in accordance with Sections 1.05 and 1.06. Upon and after the occurrence of an Acceleration Event, the Holders will be entitled to receive from the Company 20,263.12 Common Shares per Purchase Contract, which number shall be adjusted in the same manner and at the same time as the Settlement Rate is adjusted.
Acceleration Event; Notice. 2.1 Unless the FID Payment Amount and the First Commercial Production Payment Amount have already been paid to the Seller in accordance with the terms of this Agreement, the Purchaser shall notify the Seller in writing as soon as reasonably practicable of the occurrence of any Acceleration Event (and by no later than three (3) Business Days thereof) specifying full information in relation thereto.
2.2 Unless the FID Payment Amount and the First Commercial Production Payment Amount have already been paid to the Seller in accordance with the terms of this Agreement, and at any time between the occurrence of an Acceleration Event (whether or not notified to the Seller) and the date falling thirty (30) Business Days after the date that the Seller receives written notice from the Purchaser pursuant to paragraph 2.1 of this Schedule 3 (Acceleration), the Seller may give written notice to each of the Purchaser, Lifezone Metals and Lifezone Holdings demanding acceleration of the FID Payment Amount and/or the First Commercial Production Payment Amount (as applicable) irrespective of whether any FID Event or First Commercial Production Event may (or may not) have occurred prior to the relevant Acceleration Event (the “Acceleration Event Notice”).
2.3 For the avoidance of doubt, if the Seller delivers an Acceleration Event Notice and it is subsequently determined that the relevant Acceleration Event has not occurred (as agreed or otherwise determined pursuant to the terms of this Agreement), the relevant Acceleration Event Notice shall be deemed null and void.