Common use of Progress decisions Clause in Contracts

Progress decisions. 15.1 after Pre-feasibility Study 15.1.1 whether further prospecting of such Prospecting Right Area is reasonably necessary before a decision whether or not to conduct a Bankable Feasibility Study can be taken; or 15.1.2 whether to undertake the Bankable Feasibility Study in respect of a particular Prospecting Right Area. 15.2 a decision as contemplated in 15.1.1 will be taken by a simple majority of the votes of the Members present at such meeting of the Management Committee, exercisable in accordance with clause 9.4.4; 15.3 a decision to undertake the Bankable Feasibility Study will require a unanimous decision as set out in clause 9.4.5.1;