Obligations Continuing. In the event any Party ceases to own Shares and hold Subordinated Shareholder Loans, such Party shall cease to be a Party to this Agreement and shall thereafter not be entitled to any rights or benefits under this Agreement. However, such Party shall not be released from any outstanding obligations hereunder (including the Party's duty of Confidentiality as stated in Article 18), in the Major Contracts or under any guarantee unless the guarantee obligation is duly assumed by the transferee and such Party is released with the written consent of the other Parties.
Appears in 3 contracts
Samples: Joint Venture and Shareholders Agreement, Joint Venture and Shareholders Agreement (Freeport McMoran Copper & Gold Inc), Joint Venture and Shareholders Agreement (Freeport McMoran Copper & Gold Inc)
Obligations Continuing. In the event any Party of the Parties ceases to own Shares and hold Subordinated Shareholder Loans, such Party shall cease to be a Party to this Agreement and shall thereafter not be entitled to any rights or benefits under this Agreement. However, such Party shall not be released from any outstanding obligations hereunder (including the Party's duty of Confidentiality as stated in Article 18), in the Major Contracts or under any guarantee unless the guarantee obligation is duly assumed by the transferee and such Party the transferor is released with the written consent of the other Parties.
Appears in 1 contract
Samples: Joint Venture and Shareholders' Agreement (Freeport McMoran Copper & Gold Inc)
