Common use of In Favour of all Parties Clause in Contracts

In Favour of all Parties. The obligations of all parties under this Agreement are subject to the fulfillment of the following condition on or before June 30, 2005: (a) the passing of an ordinary resolution by the shareholders of the Purchaser approving the purchase of the Company Shares on the terms contemplated by this Agreement; and completion as of the Time of Closing, of a private placement of 500,000 shares of the Purchaser to be issued at a price of US$0.25 per share and if such conditions have not been fulfilled by that date or such later date that the parties may mutually agree upon, this Agreement shall terminate and be of no further force and effect.

In Favour of all Parties. The obligations of all parties under this Agreement are subject to the fulfillment of the following condition on or before June 30, 2005: (a) the passing of an ordinary resolution by the shareholders of the Purchaser approving the purchase of the Company Shares on the terms contemplated by this Agreement; and and (b) completion as of the Time of Closing, of a private placement of 500,000 shares of the Purchaser to be issued at a price of US$0.25 per share and if such conditions have not been fulfilled by that date or such later date that the parties may mutually agree upon, this Agreement shall terminate and be of no further force and effect.