Empire Energy Corporation Intl. (fka EEGC)

[oilsleuth]

I don't see any provision whereby EEGC could notify Smart Win it had breached by not meeting all the presented billings. Under Section 3 (c) of the terms of the Note it was at the sole discretion of Smart Win to determine whether EEGC was in compliance with the conditions under which the Note was issued. The only possible breaching contemplated under the terms of the Note was by Empire.

Your observation "The terms of the note give them every right to withhold payments in the circumstances" is completely correct.