Document:

<PAGE>
                                                                   EXHIBIT 10.39

                           LEASE TERMINATION AGREEMENT

         THIS AGREEMENT is made and entered into as of the 28th day of April
2003, by and between WESTLAKE PARK ASSOCIATES, a Washington limited partnership,
having an address at c/o Mayflower Park Hotel 405 Olive Way, Suite 400, Seattle,
Washington 98101 ("Landlord") and LOUDEYE CORPORATION, a Delaware corporation,
having an address at 1130 Rainier Avenue, Seattle, Washington 98144 ("Tenant").

                                   WITNESSETH:

         WHEREAS, Landlord and Tenant entered into that certain lease (the
"Lease"), dated October 28, 1999, as amended on December 30, 1999, for that
certain premises (the "Premises") described in the Lease as Centennial Building,
1904 Fourth Ave., Seattle, Washington and currently containing approximately
12,129 square feet.

         WHEREAS, Tenant desires to terminate the Lease prior to its stated
expiration date and be relieved of its obligations thereunder, and Landlord is
willing to terminate the Lease on the terms and conditions of this Agreement
notwithstanding the foregoing loss of rentals.

         NOW THEREFORE, in consideration of the mutual terms and conditions
herein contained, the parties hereby agree as follows:

         1. Termination of Lease. The Lease shall terminate effective as of
April 30, 2003 (the "Termination Date"). The Premises shall be deemed
surrendered to Landlord by Tenant on the Termination Date. Tenant shall deliver
the Premises to Landlord in its existing "as is" condition as of the Termination
Date. If any action is taken by the Tenant, or its successor, including a
trustee in bankruptcy, to recover any of the consideration paid to Landlord
under Section 2, the Landlord at its sole option elect to reinstate the lease to
its original condition and the money received hereunder shall be applied to the
rent due and the next rent to become due as a prepayment.

         2. Termination Payment. As consideration for this Agreement, and to
cover Landlord's administrative, processing and legal fees, and to reimburse
Landlord for any loss of rentals that may be sustained after the Expiration Date
as a result of the termination of the Lease by this Agreement, Tenant will allow
Landlord, upon Landlord's execution of this Agreement, to retain Tenant's
security deposit in the amount of Twenty Thousand Two Hundred Fifty Dollars
($20,250.00) and will also pay to Landlord a termination payment of One Hundred
and Seventy Nine Thousand Seven Hundred and Fifty Dollars ($179,750.00) via wire
transfer.
<PAGE>
         3. Mutual Releases. In consideration of Landlord releasing Tenant from
the obligation to pay the balance of the rentals due under the Lease, Landlord
and Tenant hereby release and forever discharge each other, and their respective
partners, officers, directors, agents, trustees, beneficiaries, guarantors and
employees, of and from any and all claims, acts, damages, demands, rights of
action and causes of action which each party ever had, now has, or in the future
may have, against the other, arising from or in any way connected with the
Lease. This release is intended as a full settlement and compromise of each,
every, and all claims of every kind and nature.

         Landlord and Tenant understand and agree that by execution of this
Agreement, the other party and its partners, officers, directors, agents,
trustees, beneficiaries, guarantors and employees do not admit any liability of
any nature whatsoever. This Agreement is made entirely as a compromise and for
the purpose of terminating the Lease and settling and extinguishing the
respective claims, acts, damages, demands, rights of action or causes of action
of the parties hereto.

         4. Authority. Each party represents to the other that it has full power
and authority to execute this Agreement.

         5. No Disclosure. Tenant agrees not disclose any of the matters set
forth in this Agreement or disseminate or distribute any information concerning
the terms, details or conditions hereof to any person, firm or entity without
obtaining the written approval of Landlord.

         6. Brokers. The parties represent and warrant to each other that they
have not dealt with any broker, finder or like agent in connection with this
Agreement and they agree to indemnify and hold each other, their agents and
their officers, directors, shareholders, partners and employees harmless of and
from any claim of, or liability to, any broker, finder, or like agent claiming a
commission or fee by reason of having dealt with either of the parties in
connection with the negotiation, execution or delivery of this Agreement, and
all expenses related thereto, including, without limitation, attorneys' fees and
disbursements.

         7. No Offer. This Agreement shall not be binding until executed and
delivered by the Landlord to Tenant and upon the funds described in paragraph 2
herein having been paid to the Landlord within 24 hours of the Landlord having
signed and delivered this Agreement to Tenant. The delivery of the wired funds
within the 24 hour period shall be deemed to be the acceptance by the Tenant of
this agreement. If the funds have not been received by the required time, this
agreement shall terminate.

         8. Whole Agreement. The mutual obligations of the parties as provided
herein are the sole consideration for this Agreement, and no representations,
promises or inducements have been made by the parties other than as appear in
this Agreement. This Agreement shall not be amended or modified except in
writing signed by both parties.
<PAGE>
         9. Miscellaneous. The warranties, representations, agreements, and
obligations contained in this Agreement shall survive the execution and delivery
of this Agreement and shall survive any and all performances in accordance with
this Agreement. This Agreement may be executed in any number of counterparts
which together shall constitute the Agreement. This Agreement shall inure to the
benefit of, and be binding upon, the heirs, successors and assigns of the
parties. This Agreement shall be construed and enforced in accordance with the
laws of the State of Washington.
<PAGE>
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first above written.

LANDLORD:
WESTLAKE PARK ASSOCIATES, A WASHINGTON LIMITED PARTNERSHIP
by WPI, LLC, general partner

Signature _________________________________________

Birney N. Dempcy, managing agent

TENANT:
LOUDEYE CORPORATION

Signature _________________________________________

Jeffrey Cavins
President and CEOMcKenzie Bay Exhibit 4.6 to Form 10-Q (1st QTR 2003)

EXHIBIT 4.6

OPTION AGREEMENT

	
BETWEEN:
	
 
	
NAME of

Address

City, State ZIP

(hereinafter called "Last Name"

PARTY OF THE FIRST PART

	
 
	
 
	
 

	
AND:
	
 
	
McKENZIE BAY INTERNATIONAL LTD, a company duly

incorporated to the law, having its registered office at 975 Spaulding

Ave., Grand Rapids, MI 49546

(hereinafter called "McKENZIE BAY"

PARTY OF THE SECOND PART

          WHEREAS McKenzie Bay is a publicly traded company on the USA OTC under the symbol "MKBY" and is involved in the development of a property located in the Chibougamau area of Northern Quebec Province, Canada (the "Lac Dore Vanadium Deposit"); and

          WHEREAS LAST NAME is a business associate, and

          WHEREAS McKenzie Bay wishes to retain the services of LAST NAME in connection with various business activities; and

          WHEREAS McKenzie Bay wishes to grant to LAST NAME the option (the "Option") to purchase common shares (the "Shares") in the share capital of McKenzie Bay as partial remuneration for the services to be provided by LAST NAME

          NOW THEREFORE, this Agreement witnesses that, in consideration of the sum of $1.00 paid by LAST NAME to McKenzie Bay (the receipt of which is hereby acknowledged), the parties hereby covenant and agree as follows:

	
 
	
1.
	
McKenzie Bay hereby grants LAST NAME (Amount) (0,000) options to purchase an aggregate of 0,000 common shares.

	
 
	
 
	
 

	
 
	
2.
	
The Options shall be exercisable as follows:

	
 
	
 
	
 

	
 
	
 
	
a.
	
All Options may be exercised at US$( ).00 at any time to a period not later than two-years from the date of this Agreement.

	
 
	
 
	
 
	
 

	
 
	
 
	
b.
	
Each Option entitles LAST NAME to acquire one McKenzie Bay common share

	
 
	
3.
	
The Options shall be exercisable by LAST NAME giving notice in writing to McKenzie Bay at its registered office, addressed to its President, which notice shall specify the number of Shares in respect of which the Options are being exercised and shall be accompanied by full payment, by cash or certified check, of the purchase price for the number of shares specified. Upon the exercise of the Option, McKenzie Bay shall cause the transfer agent and registrar of McKenzie Bay to deliver to LAST NAME a certificate in the name of LAST NAME representing the aggregate number of Shares that LAST NAME shall have then paid for. Common Shares issued pursuant to this Agreement shall be restricted for one year as per Section 144.

	
 
	
 
	
 

	
 
	
4.
	
The parties shall do such further acts and execute such further documents and assurances as are reasonably necessary in order to effectively carry out the intent of this Agreement.

	
 
	
 
	
 

	
 
	
5.
	
This Agreement shall not be assignable.

	
 
	
 
	
 

	
 
	
6.
	
This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators and successors.

EXECUTED this _th day MONTH, 200_.

	
McKenzie Bay International Ltd.
	
 
	
LAST NAME
	
 

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
 

	
 
	
 

	
 

	
Gary Westerholm

President
	
 
	
Last NameMcKenzie Bay Exhibit 4.7 to Form 10-Q (1st QTR 2003)

EXHIBIT 4.7

	

	
Dévelopment

économique Canada

pour les regions du Québec

Tour de la Bourse

800, square Victoria

Bureau 3800, C.P. 247

Montréal (Québec) H4Z 1E8
	
Canada Economic

Development

for Quebec Regions

Tour de la Bourse

800 Victoria Square

Suite 3800, P.O. Box 247

Montreal, Quebec H4Z 1E8
	

RSI Project No.: H31200037

September 12th, 2001

McKenzie Bay Resources Ltd.

143, Windsor Avenue

London (Quebec) N6C 2A1

Attention: Mr. Donald Murphy, President

	 	
Subject:
	
Repayable contribution under the Regional Strategic Initiatives Program

 (RSI)

Dear Sir:

The Government of Canada, represented by the Minister responsible for the Economic Development Agency of Canada for Quebec Regions (the Minister), hereby offers McKenzie Bay Resources Ltd. (the client), a corporation duly established by the Business Corporations Act of Ontario, a repayable contribution under the Regional Strategic Initiatives Program, for the project described in Appendix A.

	
1.
	
Agreement

	
 
	 
	
1.1
	
The present letter of offer, including Appendices A, B, C and D, constitutes an agreement legally binding the parties effective upon the Minister receiving an original copy duly signed by the client. It shall expire twenty-four months after the project completion date, except when the contribution is repayable, when it shall expire upon the last repayment.

	 	 
	
1.2
	
The client undertakes to carry out the project in compliance with this agreement and to take all necessary steps to complete it successfully.

Canada 

-2-

RSI:  H31200037

	
2.
	
Project schedule

	 	 
	
2.1
	
The client shall begin the project no later than October 1, 2001 and complete it no later than June 30, 2002.

	 	 
	 	 
	
3.
	
Contribution

	 	 
	
3.1
	
Subject to the other provisions of this agreement, the Minister agrees to pay the client a contribution equal to the lesser of $500,000 and 63,0% of the approved costs. The Minister will not contribute to any costs incurred by the client prior to May 1st, 2001.

	
 
	 
	
3.2
	
The amount paid by the Minister on account of the Contribution shall not exceed:

	 	
.1
	
$100 000 in the Government of Canada's fiscal year 2001/2002;

	
 
	 	 
	
 
	
.2
	
$400 000 in the Government of Canada's fiscal year 2002/2003;

	 	
no amount shall be paid in a fiscal year other than those set out above.

	 	 
	
3.3
	
Notwithstanding paragraph 3.2, the Minister may:

	 	
.1
	
carry backward to the previous fiscal year any portion of the allocation not exceeding 15% of the budget amount for the first fiscal year set out in paragraph 3.2;

	 	 	 
	 	
.2
	
carry forward an unused portion not exceeding 15% of the allocation for any fiscal year set out in paragraph 3.2 to increase by an equivalent amount the allocation for the next fiscal year set out in paragraph 3.2;

	
 
	 	 
	
 
	
.3
	
increase the amount of the allocation to be paid for any fiscal year set out in paragraph 3.2 by an amount not exceeding 15% of the budget amount and make a corresponding reduction of the allocation for the next fiscal year set out in paragraph 3.2; and

	
 
	 	 
	
 
	
.4
	
carry forward to the subsequent fiscal year an unused portion of the contribution, not exceeding 15% of the budget amount for the last fiscal year set out in paragraph 3.2.

-3-

RSI:  H31200037

	
4.
	
Payment of the contribution

	 	 
	
4.1
	
Any payment of contribution is conditional upon the client submitting a documented claim satisfactory to the Minister as well as upon the provision of any information the Minister may request. The Minister shall pay the contribution for approved costs no more than once every quarter.

	 	 
	
4.2
	
The Minister may consent to making a payment related to costs not yet incurred by the client if, in his opinion, such payment is necessary to the realization of the project.

	 	 
	
4.3
	
Payments made prior to the project being completed must not exceed 90% of the contribution offered.

	 	 
	
4.4
	
The client shall submit his final claim to the Minister within three months of completion of the project, together with a complete report on the project including an external accountant's review engagement report on the costs claimed, completed by a member of a professional association (CA, CGA, CMA). The last-mentioned report can also be required during the realization of the project.

	 	 
	
4.5
	
When he is satisfied with the project as completed and the client has shown that the approved costs have been paid, the Minister shall make the last payment of the contribution.

	 	 
	
4.6
	
The Minister may, at the request of the client, make payments to the joint order of the client and the consultant.

	 	 
	
4.7
	
If, at any time, the Minister determines that the client has received an overpayment, been paid for amounts not incurred or on the basis of ineligible costs, he can ask the client to repay these amounts. The amounts will be immediately due and payable and will constitute claims against the client by the Crown.

	 	 
	 	 
	
5.
	
Regular fixed repayment of the contribution

	 	 
	
5.1
	
The client shall repay the contribution in scheduled payments of $250 000.

	
 
	 
	
5.2
	
The first instalment is due and payable 24 months after the completion date of the project, the first day of the month.

-4-

RSI:  H31200037

	
5.3
	
The client shall pay interest on overdue instalments as per the regulations pursuant to the Financial Administration Act.

	 	 
	
5.4
	
The client shall provide the Minister with his complete financial statements for each fiscal year ending during the term of this agreement, within 90 days after the end of such fiscal year.

	 	 
	 	 
	
6.
	
Other government assistance

	
 
	 
	
6.1
	
The client has requested, received, or will receive, the following financial assistance, in addition to that provided for in this agreement:

	 	
.1
	
Ministère des Ressources naturelles du Québec
	
900 000 $

	 	 	 	
_______

	 	 	
Total
	
900 000 $

	
6.2
	
The client undertakes to disclose without delay any other assistance requested or received for the purposes of the project as well as any other government assistance requested or received by an affiliated company for a similar project. The client recognizes that the Minister may reduce the contribution by the additional assistance granted or received.

	 	 
	 	 
	
7.
	
Disclosure and announcements

	 	 
	
7.1
	
The client agrees to the Minister disclosing in any manner the data contained in Appendix C. The client shall make no public announcement of same in the 90 days following the execution of this agreement without the prior written consent of the Minister.

	 	 
	
7.2
	
The Minister shall notify the client in writing of the date he may want to make a public announcement, and the client shall keep this agreement confidential until such announcement.

	 	 
	
7.3
	
The client shall notify the Minister in writing at least 14 days in advance of any official ceremony he plans to organize with respect to the project. The client consents to the Minister or his representatives taking part in such ceremony.

	
 
	 
	
7.4
	
The client shall comply with the visibility protocol found in Appendix D.

-5-

RSI:  H31200037

	
8.
	
Notices

	
 
	 
	
8.1
	
Any notice, information or document that must be transmitted under this agreement shall be delivered personally, mailed, or sent by e-mail, telex or fax.

	
 
	 
	
8.2
	
Any notice, information and document shall be sent to the following addresses:

	 	
.1
	
to the Minister

Canada Economic Development for Quebec Regions

Tour de la Bourse

800, Victoria Square

Suite 3800, P.O. Box 247

Montréal (Quebec) H4Z 1E8

	 	 	 
	 	 	
To the attention of Daniel Ricard, Regional Director, Northern Quebec

	
 
	 	 
	
 
	
.2
	
to the client at the address appearing at the beginning of the letter.

	
9.
	
Other conditions

	 	 
	
9.1
	
Appendix B contains other conditions applicable to this agreement.

	 	 
	
9.2
	
Upon request, and for the entire duration of the agreement, the client agrees to declare to the Minister:

	 	
.1
	
any amount payable to the Government of Canada in compliance with Canadian law and contribution agreements;

	 	 	 
	 	
.2
	
any amount owed to the client by the Government of Canada in compliance with Canadian law and contribution agreements;

	
9.3
	
In addition, the client recognizes that the amounts owed to him by the Government of Canada may be offset by amounts payable to the government of Canada.

	
 
	 
	
9.4
	
Please return a signed original of this document and keep the other original for your files. This offer shall become null and void if not received by the undersigned duly signed by the client within 60 days from the date it is sent.

-6-

RSI:  H31200037

SPECIAL CONDITIONS

	
9.5
	
The client shall allow a representative of the Minister to seat on the follow-up committee of the project.

	 	 
	
9.6
	
The client shall provide the Minister with a copy of the agreements concluded with the other financial partners of the project.

	
 
	 
	
9.7
	
The client shall provide the Minister with 2 copies of the study.

          For further information, please contact Bruno Di Piazza, or the undersigned, at 1-800-561-0633.

	 	
Yours truly,

/s/

Daniel Ricard

Regional Director

Northern Quebec

Enclosures

	
Appendix A
	
Project description

	
Appendix B
	
Other conditions

	
Appendix C
	
Project fact sheet

	
Appendix D
	
Visibility protocol

This offer and enclosed appendices A, B, C and D are accepted on

____________________________ 20___.

McKenzie Bay Resources Ltd.

which is represented by:

	 
	 	 
	 	 
	 
	
Name
	 	
Title
	 	
Signature
	 

who declares being duly authorized to act.

APPENDIX "A"

McKenzie Bay Resources Ltd.

RSI Project number: H31200037

PROJECT DESCRIPTION

PURPOSE AND OBJECTIVE OF PROJECT

The project consists of undertaking a feasibility study of the Vanadium deposit situated at Lac Doré, North of Chibougamau. The deposit is considered as being the largest in North American and the second largest in the world after the one situated in the Bushveld Region of South Africa. The study will validate, among other things, the economic potential of extracting standard quality Vanadium used in the industrial sector and for the production of fuel cells.

	
COST ESTIMATE
	
 
	
 
	
($)

	
 
	
 
	
 
	
 

	
 
	
Total

	
Non-eligible

costs

	
Eligible costs

	
Non-

authorized

	
Authorized

	
COSTS OF PHASES I AND II
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
A. Preliminary phase:
	
 
	
 
	
 
	
 

	
   1. Professional fees (1600 hours x $95/hour):

      - review and site visit (200 hours)

      - Define exploration campaign and

         metallurgical test work (200 hours)

      - Follow-up on exploration campaign of 4

         months (200 hours)

      - Follow-up based on a 6 month testwork

         program (1000 hours)
	
19,000

19,000

19,000

95,000
	
 
	
 
	
19,000

19,000

19,000

95,000

	
   2. Travel and communication
	
25,000
	
 
	
 
	
25,000

	 	 	 	 	 
	
B. Feasibility Phase:

   1. Professional fees (6900 hours):

      - geological and reserves (200 hrs x $80/hr)

      - mine planning (600 hrs x $80/hr)

      - concentrator (1500 hrs x $85/hr)

      - refinery (2000 hrs x $85/hr)

      - infrastructure (600 hrs x $75/hr)

      - tailings (1300 hrs x $75/hr)

      - coordination with Entraco

         (150 hrs x $80/hr)

      - estimate: capital and operating cost

         (300 hrs x $70/hr)

      - planning (100 hrs x $70/hr)

      - financial analysis (150 hrs x $90/hr)

   2. Travel and communication
	

16,000

48,000

127,500

170,000

45,000

97,500

12,000

21,000

7,000

13,500

55,000
	
 
	
 
	

16,000

48,000

127,500

170,000

45,000

97,500

12,000

21,000

7,000

13,500

55,000

-2-

	
 
	
Total

	
Non-eligible

costs

	
Eligible costs

	
Non-

authorized

	
Authorized

	
OTHER COSTS

- Exploration campaign

- Geotechnical studies

- Data collection and site surveying

- Tailings characterization

- Testwork for concentrator

-Testwork for S.A.G.

- Testwork for roasting excluding plasma furnace

-Testwork refinery

- Marketing study

- Environmental study

- Permitting

- Liaison with Cree authorities
	

600,000

100,000

50,000

10,000

100,000

50,000

120,000

300,000

100,000

300,000

50,000

50,000
	

600,000

100,000

50,000

50,000
	

50,000

10,000

100,000

50,000

120,000

300,000

100,000

300,000
	

0

0

0

0

0

0

0

0

0

0

0

0

	
 
	
 
	
 
	
 
	
 

	
MISCELLANEOUS

Totals

	
180,500

2,800,000

	
180,500

980,500

	

1,030,000

	
0

789,500

	
 
	
 
	
 
	
 
	
 

	
Authorized eligible costs:
	
 
	
 
	
 
	
$789,500

	
 
	
 
	
 
	
 
	
 

	
Non-authorized eligible costs:
	
 
	
 
	
 
	
$1,030,000

	
 
	
 
	
 
	
 
	
 

	
Non-eligible costs:

	
 

	
 

	
 

	
$980,500

	
TOTAL PROJECT COSTS

	
 

	
 

	
 

	
$2,800,000

	
N.B.
	
-
	
Authorized costs exclude the Goods and Services Tax (GST) and Quebec Sales Tax (QST), which qualify for refunds or tax credits on input.

	 	 	 
	 	
-
	
Fees for a consultant who has a non-arm's-length relationship with the client are not eligible.

APPENDIX "B"

McKenzie Bay Resources Ltd.

RSI Project No: H31200037

OTHER CONDITIONS

	
1.
	
Definitions

	 	 
	
1.1
	
The eligible costs are described or listed in Appendix A.

	 	 
	
1.2
	
"Approved costs" means the eligible costs incurred by the client and billed, and which the Minister approves for purposes of disbursement of the contribution.

	 	 
	
1.3
	
"Government of Canada" means Her Majesty the Queen in right of Canada.

	
 
	 
	
2.
	
Undertakings of the client

	 	 
	
2.1
	
The client undertakes:

	 	
.1
	
To advise the Minister without delay of all facts and events and to undertake no actions likely to change any constituent elements, to compromise the project's chances of success or to modify its nature, scope, schedule or costs.

	 	 	 
	 	
.2
	
Not to sell or otherwise dispose of, prior to the project end date, property acquired under the project by means of the contribution, except with the prior approval of the Minister or through a sale or other type of disposition that is part of the normal activities of the enterprise.

	 	 	 
	 	
.3
	
To disclose to the minister promptly the existence of any non-arm's-length relationship with any supplier of goods or services to the project. A client is deemed not to be at arm's length when he or one of his partners, shareholders, directors, officers or employees, holds, directly or indirectly, an interest in a supplier.

	
 
	 	 
	
 
	
.4
	
To comply with all acts, regulations and ordinances applicable to the project and the activities ensuing therefrom, particularly with regard to environmental considerations.

	
3.
	
Files and information

	 	 
	
3.1
	
The client shall provide the Minister with any information related to the project which he might request, promptly, free of charge, and in the form requested.

	 	 
	
3.2
	
The client shall keep records, files, books of account and other documents until the expiry of this agreement.

	 	 
	
3.3
	
The client shall, free of charge and at all times, provide the Minister with access to his premises, records, files, accounting books and documents, wherever they

-2-

	
 
	
may be, for the purposes of any examination. The client shall provide, free of charge, copies of any documents requested by the Minister.

	
 
	 
	
4.
	
Default and recourse

	
 
	 
	
4.1
	
The following events shall constitute default:

	 	
.1
	
the client commits an act of bankruptcy, seeks protection under the Bankruptcy and Insolvency Act, is put in receivership or an order is made against him under the Companies' Creditors Arrangement Act, Chapter C-36;

	 	 	 
	 	
.2
	
an order is made or a resolution passed for the winding-up or dissolution of the client;

	 	 	 
	 	
.3
	
the client has ceased activities related to the project or his activities in Quebec;

	 	 	 
	 	
.4
	
the client has, directly or through his representatives, made a false statement to the minister;

	 	 	 
	 	
.5
	
the client has breached any provision of this agreement;

	 	 	 
	 	
.6
	
the client makes unauthorized determinant contractual commitments prior to the commitment date provided in section 3.1 of the letter of offer;

	
 
	 	 
	
 
	
.7
	
the client does not comply with the repayment terms of the contribution.

	
4.2
	
In the event of default, or if, in the Minister's opinion, default is likely to occur, the Minister may, upon notice, separately or cumulatively, and without prejudice to any other right:

	 	
.1
	
terminate this agreement, reduce the contribution, suspend its payment for an indefinite period, and demand immediate repayment with interest of the contribution paid;

	
 
	 	 
	
 
	
.2
	
require all guarantees and security he deems appropriate to guarantee current or potential claims, and require the client to agree to execute all documents to this effect at its expense within 30 days of the request.

	
5.
	
Quebec and Canadian goods and services

	 	 
	
5.1
	
In purchasing goods and services required for the undertaking of the project, the client shall use Quebec and Canadian carriers, service providers, goods manufacturers and sub-contractors, insofar as they are available and competitive.

-3-

	
6.
	
Responsibility

	 	 
	
6.1
	
The client shall indemnify and save harmless the Government of Canada from and against any and all claim, demand or action made by a third party against it or any Government of Canada employee for loss, damage, cost, injury or expense related or unrelated to the project.

	 	 
	
6.2
	
The Government of Canada shall not be held responsible to the client for any claim, legal proceeding, demand or action made by a third party with regard to contracts signed by the client for loans, rental, capital lease or any other contract related or unrelated to the project for which the contribution is granted.

	 	 
	
7.
	
Miscellaneous

	 	 
	
7.1
	
No member of the House of Commons or senator shall be permitted to take part in this agreement or to benefit therefrom.

	 	 
	
7.2
	
The client confirms that no former holder of public office in the Government of Canada derives directly or indirectly any benefit from this agreement and that, should this be the case, such former holder has complied with the provisions of the Conflict of interest and post-employment code for the Public Service.

	
 
	 
	
7.3
	
This agreement and the contribution are unassignable.

	 	 
	
7.4
	
The parties agree that this contribution does not constitute an association for the creation of a corporation or joint venture or agency relationship between them for any purpose whatever. The client therefore agrees not to present itself as an agency or representative of the Government of Canada.

	 	 
	
7.5
	
Any instalment payable under this agreement is conditional upon the allocation of funds by Parliament for the fiscal year in which the instalment must be paid.

	
 
	 
	
7.6
	
The client agrees:

	 	
.1
	
to disclose to the Minister the name of any individual or organization it uses as a lobbyist and to ensure that this individual or organization understands and complies with the Lobbyist Registration Act;

	 	 	 
	 	
.2
	
not to claim costs related to lobbying.

	
7.7
	
The parties shall, if they so agree, refer disputes arising hereunder to arbitration under the Commercial Arbitration Act.

-4-

	
7.8
	
The parties agree that this agreement be drafted in English only. Les parties conviennent que cette entente soit rédigée en anglais seulement.

	 	 
	
7.9
	
This agreement is subject to and shall be construed in accordance with the law applicable in the province of Quebec.

APPENDIX "C"

INFORMATION SHEET ON THE PROJECT

FOR THE MINISTER AND TIIE PRESS RELEASE

	
Program: RSI
	
Project number: H31200037

	
 

	
 

	
Client's name and address

McKenzie Bay Resources Ltd.

143, Windsor Avenue

London (Ontario) N6C 2A1

 

	
Resource person

Name: Donald Murphy

Title: President

Telephone: 519-439-9392

Fax:        519-439-6426

	
Project location

Chibougamau

	
Federal riding

Roberval

	
Project description

The project consists of undertaking a feasibility study of the Vanadium deposit situated at Lac Doré, North of Chibougamau. The deposit is considered as being the largest in North America and the second largest in the world after the one situated in the Bushveld Region of South Africa. The study will validate, among other things, the economic potential of extracting standard quality Vanadium and used in the industrial sector and for the production of fuel cells.

	
 

	
 

	
Total project costs

$2,800,000

	
Authorized assistance

Repayable contribution:                    $789,500 x 63,0% = $500,000 (maximum)

	
Potential economic impacts including effect on jobs

Positive results emanating from the feasibility study can lead to the commercial extraction of Vanadium and to the creation of direct and indirect jobs for the sector of Chibougamau. This will also help to open a new industrial sector for Canada.

	
Project ultimate starting date

October 1st, 2001

	
Project ultimate completion date

June 30, 2002

	
Date of offer

12 SEP. 2001

	
Date on which the agreement came into force

 

	

Office: Northern Quebec
	

Advisor: Bruno Di Piazza                    

APPENDIX "D"

McKenzie Bay Resources Ltd.

RSI Project number: H31200037

VISIBILITY PROTOCOL

The McKenzie Bay Resources Ltd. agrees to:

	
1.
	
Invite the Minister responsible for Canada Economic Development or his designated representatives to the press conference announcing the project and the financial contribution of the government.

	 	 
	
2.
	
Mention Canada Economic Development (name and logo) in promotional, publicity and public relations activities related to the project. A caption should be created to reflect the importance of the contribution. For example: primary partner.

	 	 
	
3.
	
Invite Canada Economic Development representatives to public activities related to the project and mention the co-operation of Canada Economic Development at these events.

	 	 
	
4.
	
Include Canada Economic Development's logo and provide space for publicity in all promotional products and publications. The logo shown with the contribution (or sponsorship) includes: Canada Economic Development's departmental signature and the Canada wordmark.

	 	 
	
5.
	
Use the Government of Canada protocol in public ceremonies.

	 	 
	
6.
	
Get Canada Economic Development's approval for a detailed visibility plan, including the presence of Canada Economic Development in each of the communications vehicles for the project or event.

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