Common use of Invitations to Tender Clause in Contracts

Invitations to Tender. 4.1 RRL agrees to grant, or to procure that any of its Associated Companies grant RRPV (or such other RR Company as from time to time may be notified by RRPV to RRL) the opportunity to bid for any contract for the supply of power to the New Project. 4.2 If such RR Company does not submit a bid in a compliant form with respect to the New Project, then RRL (or its Associated Company, as the case may be) may award the contract for the power supply to the New Project to any third party. 4.3 In the event that a RR Company submits a compliant bid and, after consideration of all compliant bids submitted for the New Project, RRL or its Associated Company does not intend to award the New Project power supply to such RR Company, then, before awarding the same to any third party, RRL agrees that it (or its Associated Company, as the case may be) shall invite such RR Company to submit a revised bid with respect to the New Project and shall consider any revised bid so submitted by such RR Company. 4.4 Such RR Company shall then either submit a revised bid in response to such invitation or advise RRL or its Associated Company that it does not intend to do so. 4.5 RRL agrees, on behalf of itself and its Associated Companies, that any bids submitted by any RR Company pursuant to this Clause 4 shall be given fair and proper consideration. 4.6 For the avoidance of doubt the provisions of this Clause 4, which impose obligations on RRL and its Associated Companies, are not intended to impose obligations on any person other than RRL and its Associated Companies.

Appears in 2 contracts

Sources: Joint Venture Agreement (Randgold Resources LTD), Joint Venture Agreement (Randgold & Exploration Co LTD)