Rescission of Contract. If for any reason the conditions precedent set ---------------------- forth in article S.2 and 5.4 have not all been fulfilled or waived in writing by Party B on or prior to the 180th day after the Business License has been issued, at Party B's option, this Contract shall be deemed terminated and of no force and effect, the Company shall be dissolved, and the Shareholders shall have no liability of any kind hereunder to each other.
Appears in 2 contracts
Sources: Joint Venture Agreement (Pan Asia Mining Corp), Joint Venture Agreement (Pan Asia Mining Corp)