Common use of Sale of Tenure Clause in Contracts

Sale of Tenure. The Contractor acknowledges that the Company may sell its interest in all or part of the Tenure to which the Work pertains and the Contractor agrees that if such event occurs: (a) the Company may, by notice to the Contractor, terminate this Agreement and the Work, along with the Contractor’s performance of that Work, and Paragraphs 14.2 and 14.4 of this Agreement will apply in respect of that Work, mutatis mutandis; (b) if the Company gives notice under subparagraph (a): (i) the Contractor will, without additional compensation, assist with the transfer, winding down or other dispensation of its responsibility for the Work from the Company to the purchaser; (ii) the assistance to be provided by the Contractor under clause (i) will not exceed 2 working days; and (iii) neither the Company nor the purchaser will have any liability to the Contractor, will be obliged to provide the Contractor with work in substitution for the Work, or have any liability to the Contractor for any compensation on account of Work that the Contractor would otherwise have performed but for such event; and

Sale of Tenure. The Contractor acknowledges that the Company may sell its interest in all or part of the Tenure to which the Work pertains and the Contractor agrees that if such event occurs: (a) the Company may, by notice to the Contractor, terminate this Agreement and the Work, along with the Contractor’s performance of that Work, and Paragraphs 14.2 and 14.4 of this Agreement will apply in respect of that Work, mutatis mutandis; (b) if the Company gives notice under subparagraph (a): (i) the Contractor will, without additional compensation, assist with the transfer, winding down or other dispensation of its responsibility for the Work from the Company to the purchaser; (ii) the assistance to be provided by the Contractor under clause (i) will not exceed 2 working days; and (iii) neither the Company nor the purchaser will have any liability to the Contractor, will be obliged to provide the Contractor with work in substitution for the Work, or have any liability to the Contractor for any compensation on account of Work that the Contractor would otherwise have performed but for such event; and (c) whether the Contractor continues to provide Work in relation to uncompleted Work will become a matter for negotiation between the Contractor and the purchaser.