Latest Closing Date. If the Closing Date has not occurred by December 15, 2005, subject to an extension as may be mutually agreed to by the Parties for a maximum of 14 days per extension, then the Assignee and the Assignor shall each have the option to terminate this Assignment Agreement by delivery of written notice to the other Party. Upon delivery of such notice, this Assignment Agreement shall cease to be of any force and effect except for Section 12 hereinbelow, which shall remain in full force and effect notwithstanding the termination of this Agreement.
Appears in 2 contracts
Sources: Assignment Agreement (Urex Energy Corp.), Assignment Agreement (Lakefield Ventures Inc)