Choice Forestry PDS 2012 - WA Blue Gum Project

(d)(ii)(C)relevant information suppliedby any party including statisticsor indices relevant to woodprices published from time totime by the Australian Bureauof Agricultural and ResourceEconomics, the AustralianBureau of Statistics or anyother government authority orindustry body.If the Project Manager does notapprove the Purchase Price andobtains an alternative offer in writingfrom a genuine buyer to purchase thatgrade of Wood on substantially thesame terms and conditions as theoffer from the Purchaser but at ahigher price than the ProposedPurchase Price then the Purchasershall have an option for one monthfrom the date of delivery to thePurchaser of the alternative offer topurchase the Wood for such higherprice. in certain circumstances theProject Manager may sell that Woodto another buyer on the terms andconditions of the alternative offer.Harvesting and Delivery(i)The Project Manager shall Harvestand Deliver the Wood taking due andproper care for the safe-keeping andhandling of the said Wood until it hasbeen Delivered;(g)(h)(ii)of written notice from the ProjectManager specifying the default andrequiring the default to be rectified.The Purchaser shall be entitled toterminate the Agreement if the Groweris in default of any obligation under theAgreement and such default shall havecontinued for a period of 1 month afterreceipt by the Grower of written noticefrom the Purchaser specifying thedefault and requesting that the defaultbe remedied.Dispute ResolutionIn the event any dispute between any of theparties to the Agreement arises relating to thesubject matter of the Agreement, theprovisions described in Section 10.3(i) aboveshall apply mutatis mutandis.Extension of the AgreementThe terms of the Agreement shall extend tothe second Harvest of the Plantation if theGrower extends its Sub-lease from the ProjectManager and the parties agree on deliverydates in respect of the Second Harvest.10.7 Summary of Joint Venture Agreement (ifapplicable)(a)PartiesWhere there are Joint Venture Growers, eachof them will be the parties.(e)(f)(ii)(iii)The Purchaser shall be entitled todeduct from the Purchase Price a feenot exceeding 5% of the value of theWood after deducting harvesting anddelivery costs for planning,administering and supervising theHarvest and Delivery of the Wood.Ownership of and risk in relation tothe Wood shall pass to the Purchaseronly upon the Delivery of the Wood tothe facility or facilities nominated andaccepted by the Purchaser.Force MajeureThe provisions described in Section 10.3(f)above apply mutatis mutandis to thisAgreement.Termination in the Event of Default(i)The Project Manager on behalf of anyGrower and any Grower, shall beentitled to terminate the Agreement ifthe Purchaser is in default of anyobligation under the Agreement andsuch default shall have continued, inthe case of an obligation to paymoney, for a period of 14 days or inany other case, for a period of 1month after receipt by the Purchaser(b)(c)ResponsibilitiesThe First Joint Venture Grower is responsiblefor all activities associated with theEstablishment of the Plantation and the feespayable in respect of those activities andamounts payable in the application year(including pre-paid rent) The Second JointVenture Grower is responsible for ongoingrent, management and administration feespayable in all subsequent years. Joint VentureGrowers will be entitled to one half of theproceeds of sale of the timber from thePlantations.Each Joint Venture Grower will be responsiblefor their portion (being 40% for the First JointVenture Grower and 60% for the Second JointVenture Grower) of all insurance, Harvesting,transportation and supervision costs andincentive fees payable out of the proceeds ofthe sale of the timber.EntitlementsEach party is entitled to 50% of the wood andthe receipts (including carbon credits andinsurance).