3
(Ui) NIIS shall as soon as practicable convene a general meeting and
decide in such a meeting to accept Iceland as a member. As of the
date of preparation of this Agreement, such a general meeting is
expected to take place on 28 May 2021.
(iv) Finland and Estonia shall cause NIIS to promptly communicate the
acceptance of Iceland’s membership application in writing to Iceland.
(v) As soon as the actions outlined in items (i) and (ii) above have been
taken and the NIIS general meeting has made a favourable result as
outlined in item (Ui) above, Iceland shall be formally a member of NIIS
with all rights and obligations, it however be understood that Iceland
shall have no obligation to pay NTIS membership fee except for those
calendar months of 2021 it is formally a full member.
(vi) This Agreement enters into force without further action and
immediately when signed and the decision to accept Iceland’s
membership outlined in item (hi) above in NTIS has been made.
(b) Upon this Agreement entering into force, Iceland shall become a Party (as defined
in the Formation Agreement) to the Formation Agreement in addition to the existing
Parties. Iceland shall assume all obligations of a Party under the Formation
Agreement and shall be granted all rights of a Party under the Formation
Agreement.
(c) Iceland acknowledges having read, fully understood, and accepted without any
exceptions the terms and conditions of the Formation Agreement in addition to the
terms and conditions of this Agreement and confirms that it has been granted
appropriate access to any prior NTIS materials, decisions, articles of association and
any other necessary information it may have required.
(d) The Parties shall use all reasonable efforts necessary to fulfil the intent and purpose
of this Agreement in good faith even where no express contractual obligation to
taking a certain necessary measure exists.
3 CHANGES TO THE FORMATION AGREEMENT
(a) For clarity, any sections or wordings in the Formation Agreement expressly or
implicitly referring to “both Parties” or Finland and Estonia together shall be
understood to refer to “all Parties” and always inclusive of Iceland.
(b) For clarity, NIIS and Estonia have subsequently to the Formation Agreement
concluded a separate agreement on the name and mark “X-Road” which agreement
has been made available to Iceland.
Cc) Section 10(b) of the Formation Agreement is hereby amended to read as follows:
This Agreement shall automatically terminate, in respect
of the relevant Party only, when such Party is no longer a member of
the Institute.”
(e) No other changes, express or implicit, are made or intended to be made to the
Formation Agreement which remains otherwise in force in accordance with its
terms.