Div 21TERMINATION

DIVISION 21—TERMINATION 21.1 This Indenture shall terminate in the event of or upon the termination or expiration of the Joint Venture Agreement. 21.2 In addition the State may terminate this Indenture by not less than 90 days notice to the Joint Venturers if either of the Joint Venturers abandon the Joint Venture or if the Joint Venturers are in default in the due performance or observance of any of the covenants or obligations on their part to be observed under this Indenture which default is material and such default is not remedied (or active steps are not commenced and continued to remedy the same if the default is of a type not capable of speedy remedy) within a period of 90 days after notice is given by the Minister to the Joint Venturers or if the alleged default is contested by the Joint Venturers or either of them and within 30 days after such notice it is submitted to arbitration in accordance with the arbitration Division hereof then within a reasonable time as fixed by the arbitration award where the question is decided against the Joint Venturers.