Page 215 - The Persian Gulf Historical Summaries (1907-1953) Vol III

210

*b) If such notice be given not later than 30 years after the date of signature
tne Company shall be entitled on such determination to remove free of all taxes
and duties all plant building stores material and property of every sort provided
that for a period of 3 months the Shaikh may purchase—should lie so desire—the
same at a price equal to the replacement value at that date less depreciation, which
price shall be agreed or failing agreement settled under Article 23 hereof.
(c) If such notice be given later than 30 years after the date of signature, all
the property aforesaid shall become the property of the Shaikh free of all cost.

Article 18
On the expiry of this Agreement at the end of the period of 75 years provided
m Article 2, or of any extension or renewal of that period, all the movable and
immovable property of the Company in the territory shall be handed over to the
Shaikh free of cost. Producing wells or borings at the time of such expiry shall
be handed over in reasonably good order and repair.

Article 19
Subject to the provisions of Article 21 hereof the Shaikh shall have the right
to terminate this Agreement and to take without payment all the property of the
Company in the territory if (a) the Company shall fail to make any of the payments
prescribed in this Agreement within 6 months of the date on which they fall due,
or (b) the Company shall be in default in respect of an Arbitration award under
Article 23 hereof.
Article 20
Nothing in this Agreement shall be read as restricting in any way the right
of the Shaikh to grant to other parties concessions or permits for materials other
than the substances as defined in Article 3 provided that the operations and rights
of the Company hereunder are not thereby injuriously affected.
Deposits of minerals such as gold, silver, copper, lead, potash, sulphur and
salt or the like which may be discovered by the Company shall be reported to the
Shaikh and shall not be worked by the Company except under special concession
or permit from the Shaikh. Further, the Company shall instruct geologists to
mark carefully and to report to the Company any area and its location which
appears to them to give promise of yielding minerals or fresh water from a borehole
and the Company undertakes to keep the Shaikh informed of all such minerals
and water reports and the sites of the area or areas.
Article 21
Failure on the part of the Company to fulfil any of the conditions of this
Agreement shall not give the Shaikh any claim against the Company or be deemed
a breach of this Agreement in so far as such failure arises from force majeure,
and if through force majeure the fulfilment by the Company of any of the con­
ditions of this Agreement be delayed the period of such delay shall be added to
the periods fixed by this Agreement.
Force majeure as used in this Agreement includes the Act of God, war,
insurrection, riot, civil commotion, tide, storm, tidal wave, flood, lightning,
explosion, fire, earthquakes, and any other happening which the Company could
not reasonably prevent or control.
Article 22
The Shaikh shall not by general or special legislation or by administrative
measures or by any other act whatever annul this Agreement except as provided
in Article 19. No alteration shall be made in the terms of this Agreement by
either the Shaikh or the Company except in the event of the Shaikh and the
Company jointly agreeing that it is desirable in the interests of both parties to
make certain alterations, deletions or additions to this Agreement.
Article 23
(n\ Tf at anv time during the currency of this Agreement any difference or
.. (fj arise between the parties hereto concerning the interpretation or
eiecutiofhereof, or anything herein contained or in connection herewith, or the