Common use of Review and Renegotiation Clause in Contracts

Review and Renegotiation. 6.1.1 Subject to section 10.01 and section 5 of Schedule E, the Parties shall commence a review of this Agreement on the third anniversary date of the execution of this Agreement and every three (3) years thereafter (“Review Date”), with a view to determining if there has been any material change in circumstance which would require a reconsideration of any terms of this Agreement. If either Party is of the view that amendments should be made, such Party shall send a notice to the other Party within three (3) months of the Review Date, identifying the material changes in circumstances and the sections to be amended. Upon receipt by a Party of such a notice, the Parties shall enter into good faith negotiations and use their Best Efforts to conclude an agreement on appropriate amendments to this Agreement within six (6) months of any Review Date. 6.1.2 This Agreement has been prepared based on the Whale Tail Project as described in the Whale Tail Project Description. Except as set out in section 5 of Schedule E (Financial Compensation), in the event that AEM wishes to vary the description or scope of the Whale Tail Project in any material respect, or the impacts anticipated from the Whale Tail Project are materially different from the impacts that were reasonably anticipated at the time of the preparation of the FEIS, either Party may immediately provide written notice to the other, and the Parties shall forthwith enter into good faith negotiations and use commercially reasonable efforts to conclude an agreement on appropriate amendments to this Agreement within six (6) months of the date of such notice. 6.1.3 AEM shall pay for the costs incurred by KIA in participating in each review undertaken pursuant to sections 6.1.1 and 6.1.2 under a pre-approved budget, with a cap of $250,000.00 for each review in constant 2015 dollars. 6.1.4 If renegotiation of all or part of this Agreement is agreed to by the Parties or required as a result of a Dispute Resolution process, then the Parties will reach agreement on a budget to cover KIA’s costs for the re-negotiation of this Agreement, to be paid by AEM. 6.1.5 If the Parties are unable to conclude an agreement on any amendment, the matter shall be considered a Dispute to be resolved in accordance with Schedule H (Arbitration).

Review and Renegotiation. 6.1.1 Subject to section 10.01 and section 5 of Schedule E, the The Parties shall commence a review of this Agreement on the third anniversary date of the execution of this Agreement March 1, 2020, and every three (3) years thereafter (“Review Date”), with a view Date to determining if there has been any material change in circumstance which would require a reconsideration of any terms of this Agreement. If either Party is of the view that amendments should be made, such Party shall send a notice to the other Party within three (3) months of the Review Date, identifying the material changes in circumstances and the sections to be amended. Upon receipt by a Party of such a notice, the Parties shall enter into good faith negotiations and use their Best Efforts to conclude an agreement on appropriate amendments to this Agreement within six (6) months of any Review Date. 6.1.2 This Agreement has been prepared based on the Whale Tail Meliadine Project as described in the Whale Tail Project DescriptionCertificate. Except as set out in section 5 of Schedule E (Financial Compensation), in In the event that AEM wishes to vary the description or scope of the Whale Tail Meliadine Project in any material respect, or the impacts anticipated from the Whale Tail Meliadine Project are materially different from the impacts that were reasonably anticipated at the time of the preparation of the FEISEIS, either Party may immediately provide written notice to the other, and the Parties shall forthwith enter into good faith negotiations and use commercially reasonable efforts to conclude an agreement on appropriate amendments to this Agreement within six (6) months of the date of such notice. 6.1.3 AEM shall pay for the costs incurred by KIA in participating in each review undertaken pursuant to sections 6.1.1 and 6.1.2 under a pre-approved budget, with a cap of $250,000.00 250,000 for each review in constant 2015 dollars. 6.1.4 If renegotiation of all or part of this Agreement is agreed to by the Parties or required as a result of a Dispute Resolution process, then the Parties will reach agreement on a budget to cover KIA’s costs for the re-negotiation -negotiation of this Agreement, to be paid by AEM. 6.1.5 If the Parties are unable to conclude an agreement on any amendment, the matter shall be considered a Dispute to be resolved in accordance with Schedule H (Arbitration).

Review and Renegotiation. 6.1.1 Subject to section 10.01 and section 5 of Schedule E8.1.1 Should the Operation Phase continue after December 31, 2018 (the “Review Date”), the Parties shall commence a review of this Agreement on the third anniversary date of the execution of this Agreement and every three (3) years thereafter (“Review Date”)Agreement, with a view to determining if there has been any material change in circumstance which would require a reconsideration of any terms of this Agreement. If either Party is of the view that amendments should be made, such Party shall send a notice to the other Party within three (3) months of the Review Date, identifying the material changes in circumstances and the sections to be amended. Upon receipt by a Party of such a notice, the Parties shall enter into good faith negotiations and use their Best Efforts to conclude an agreement on appropriate amendments to this Agreement within six (6) months of any the Review Date. 6.1.2 8.1.2 This Agreement has been prepared based on the Whale Tail Meadowbank Project as described in the Whale Tail Project DescriptionFEIS. Except as set out in section 5 of Schedule E (Financial Compensation), in In the event that AEM wishes to vary the description or scope of the Whale Tail Meadowbank Project in any material respect, or the impacts anticipated from the Whale Tail Meadowbank Project are materially different from the impacts that were reasonably anticipated at the time of the preparation of the FEIS, either Party may immediately provide written notice to the other, and the Parties shall forthwith enter into good faith negotiations and use commercially reasonable efforts to conclude an agreement on appropriate amendments to this Agreement within six (6) months of the date of such notice. 6.1.3 8.1.3 AEM shall pay for the costs incurred by KIA in participating in each review undertaken pursuant to sections 6.1.1 8.1.1 and 6.1.2 8.1.2 under a pre-approved budget, with a cap of $250,000.00 for each review of two hundred and fifty thousand dollars ($250,000) in constant 2015 dollars. 6.1.4 8.1.4 If renegotiation of all or part of this Agreement is agreed to by the Parties or required as a result of a Dispute Resolution process, then the Parties will reach agreement on a budget to cover KIA’s costs for the re-negotiation of this Agreement, to be paid by AEM. 6.1.5 8.1.5 If the Parties are unable to conclude an agreement on any amendment, the matter shall be considered a Dispute to be resolved in accordance with Schedule H (Arbitration).

Review and Renegotiation. 6.1.1 Subject to section 10.01 and section 5 of Schedule E, the The Parties shall commence a review of this Agreement on the third anniversary date of the execution of this Agreement and every three (3) years thereafter (“Review Date”), with a view to determining if there has been any material change in circumstance which would require a reconsideration of any terms of this Agreement. If either Party is of the view that amendments should be made, such Party shall send a notice to the other Party within three (3) months of the Review Date, identifying the material changes in circumstances and the sections to be amended. Upon receipt by a Party of such a notice, the Parties shall enter into good faith negotiations and use their Best Efforts to conclude an agreement on appropriate amendments to this Agreement within six (6) months of any Review Date. 6.1.2 This Agreement has been prepared based on the Whale Tail Meliadine Project as described in the Whale Tail Project DescriptionCertificate. Except as set out in section 5 of Schedule E (Financial Compensation), in In the event that AEM wishes to vary the description or scope of the Whale Tail Meliadine Project in any material respect, or the impacts anticipated from the Whale Tail Meliadine Project are materially different from the impacts that were reasonably anticipated at the time of the preparation of the FEISEIS, either Party may immediately provide written notice to the other, and the Parties shall forthwith enter into good faith negotiations and use commercially reasonable efforts to conclude an agreement on appropriate amendments to this Agreement within six (6) months of the date of such notice. 6.1.3 AEM shall pay for the costs incurred by KIA in participating in each review undertaken pursuant to sections 6.1.1 and 6.1.2 under a pre-approved budget, with a cap of $250,000.00 250,000 for each review in constant 2015 dollarsreview. 6.1.4 If renegotiation of all or part of this Agreement is agreed to by the Parties or required as a result of a Dispute Resolution resolution process, then the Parties will reach agreement on a budget to cover KIA’s costs for the re-negotiation of this Agreement, to be paid by AEM. 6.1.5 If the Parties are unable to conclude an agreement on any amendment, the matter shall be considered a Dispute to be resolved in accordance with Schedule H (Arbitration).