Common use of Optional withdrawal Clause in Contracts

Optional withdrawal. If one or more Parties decide not to participate in the tender phase of a contract, it (they) shall notify in writing the other Parties not later than 30 Business Days prior to the bid date. In such case, the withdrawing Party(ies) will undertake not to participate in any manner whatsoever in a competing consortium or compete on its own against the remaining Party(ies) for the award of the contract being tendered. In such case, the share of the withdrawing Party shall be shared equally between the two other Parties, subject to the provisions of Clause 8.3.1 hereof.

Optional withdrawal. If one or more Parties decide not to participate in the tender phase of a contract, it (they) shall notify in writing the other Parties not later than 30 (thirty) Business Days prior to the bid date. In such case, the withdrawing Party(ies) will undertake not to participate in any manner whatsoever in a competing consortium or compete on its own against the remaining Party(ies) for the award of the contract being tendered. In such case, the share of the withdrawing Party shall be shared equally between the two other Parties, subject to the provisions of Clause 8.3.1 hereof.