Effect of Buy-Out Election. Upon a Buy-Out Election being made, the Non-Defaulting Joint Venturers which have agreed or elected to pursue the Buy-Out Election (Enforcing Joint Venturers) must, within 28 days from the Buy-Out Election coming into effect, subject to the agreement or determination and acceptance of the fair market value and the date for completion (Completion Date), acquire the whole (but not part) of the Defaulting Joint Venturer's Joint Venture Interest, provided that if the relevant Unpaid Monies Default Event is remedied in full in accordance with this agreement before the Completion Date, the Buy-Out Election under this agreement lapses.
Effect of Buy-Out Election. Upon a Buy-Out Election being made, the Non-Defaulting Joint Venturers which have agreed or elected to pursue the Buy-Out Election (Enforcing Joint Venturers) must, within 30 days from the Buy-Out Election coming into effect, subject to clause 18.2(a), on the Buy-Out Completion Date, acquire:
Effect of Buy-Out Election. 46 13.2 Determination of fair market value and Completion Date 46 13.3 Consequence of Buy-Out Election 47 13.4 Release of Defaulting Joint Venturer 48 13.5 Attorney 48 13A Sole-Risk 48 13A.1 Sole Risk Proposal 48 13A.2 Sole Risk Notice 49 13A.3 Sole Risk Operation 50 13A.4 Sole Risk Operations Re-Buy 51 13A.5 Consequences of Re-Buy 52 13A.6 Buy-Out Offer 52 13A.7 Consequence of Buy-Out Offer 52 14 Term, suspension and termination of Joint Venture 53 14.1 Term of agreement 53 14.2 Suspension of Joint Venture Activities or Mine Closure 53 14.3 Winding up of Joint Venture 54 14.4 Certain obligations continue beyond termination 54 14.5 Extension of term 55 15 Confidentiality 55 15.1 Agreement is confidential 55 15.2 No disclosure except as permitted 55 15.3 Permitted disclosure 55 15.4 Confidential Information disclosed only as necessary 55 15.5 Publicity and disclosure 56 15.6 Obligations exist beyond termination 56
