Legal Effect of Binding Term Sheet (page 12 – 13)
Pfizer and MISPAS acknowledge that this Binding Term Sheet is subject to Congressional Approval by the Dominican Republic. In the event this Binding Term Sheet is approved, in its entirety within 15 days of the last date of execution of this Binding Term Sheet, the Parties agree to negotiate the Definitive Agreement in accordance with the terms set forth herein. In the event that the entirety of this Binding Term Sheet does not receive Congressional Approval, then the terms set forth herein, except for those terms contained in the Confidentiality section, shall no longer be binding, and otherwise have no legal force or effect […]. “Congressional Approval” means its ratification by both chambers of the National Congress, which shall be demonstrated by the corresponding resolution to be issued by the National Congress and issued by the President referencing the approval of the entirety of this Binding Term Sheet.