Common use of No Acceptance Clause in Contracts

No Acceptance. If the Offer is not accepted by the Buyer in time, then Shenin is free to sell the whole 100% of its Interest, or any portion of its Interest, for a price and upon terms no less favourable than that made in the Offer or upon price and terms commercially equivalent thereto or greater than the Offer in the commercially reasonable opinion of Shenin. If the price and terms are not identical to the Offer, they must be disclosed to the Buyer. Such disclosure does not constitute an Offer, but may afford grounds to invoke the Dispute Resolution Provisions of Schedule B. If the proposed third party purchaser is not at arm’s length (within the meaning of the Canadian Tax Act) with Shenin, then Shenin shall disclose fully the relationship with the proposed third party purchaser, and such third party purchaser may only purchase if it covenants not to resell the whole or the portion of the Interest acquired for less than it paid for one year from the date of acquisition. Page - 60 E.6

No Acceptance. If the Offer is not accepted by the Buyer in time, then Shenin is free to sell the whole 100% of its Interest, or any portion of its Interest, for a price and upon terms no less favourable than that made in the Offer or upon price and terms commercially equivalent thereto or greater than the Offer in the commercially reasonable opinion of Shenin. If the price and terms are not identical to the Offer, they must be disclosed to the Buyer. Such disclosure does not constitute an Offer, but may afford grounds to invoke the Dispute Resolution Provisions of Schedule B. If the proposed third party purchaser is not at arm’s length (within the meaning of the Canadian Tax Act) with Shenin, then Shenin shall disclose fully the relationship with the proposed third party purchaser, and such third party purchaser may only purchase if it covenants not to resell the whole or the portion of the Interest acquired for less than it paid for one year from the date of acquisition. Page - 60 E.6.