Rule Against Perpetuities. 19.1 In the event that a court of competent jurisdiction determines that the term or any other provision of this Agreement violates the rule against perpetuities, then the term of this Agreement shall automatically be revised and reformed to coincide with the maximum term permitted by the rule against perpetuities, or such other provisions shall automatically be revised and reformed as necessary to comply with the rule against perpetuities, and this Agreement shall not be terminated solely as a result of a violation of the rule against perpetuities.
Appears in 4 contracts
Samples: Senior Secured Gold Stream Credit Agreement (Golden Phoenix Minerals Inc), Senior Secured Gold Stream Credit Agreement (Golden Phoenix Minerals Inc), Gold and Silver Supply Agreement (Gryphon Gold Corp)
Rule Against Perpetuities. 19.1 In the event that a court of competent jurisdiction determines that the term or any other provision of this Agreement violates the rule against perpetuitiesRule Against Perpetuities, then the term of this Agreement shall automatically be revised and reformed to coincide with the maximum term permitted by the rule against perpetuitiesRule Against Perpetuities, or such other provisions provision shall automatically be revised and reformed as necessary to comply with the rule against perpetuitiesRule Against Perpetuities, and this Agreement shall not be terminated solely as a result of a violation of the rule against perpetuitiesRule Against Perpetuities.
Appears in 4 contracts
Samples: Royalty Agreement (Royal Standard Minerals Inc), Royalty Agreement (Royal Standard Minerals Inc), Option Agreement (Golden Phoenix Minerals Inc)
