Commercial Production. For the purposes of this Agreement, the Premises shall come into commercial production on the date upon which ore mined from the Premises is first delivered to a purchaser on a commercial basis or on the date upon which concentrates or other products derived therefrom are first delivered to a purchaser on a commercial basis, whichever date is earlier, it being agreed that deliveries of such ores, concentrates or other products resulting from pilot or test operations shall not be considered as deliveries on a commercial basis for the purposes of this paragraph. Lessee shall deliver to Owner notice indicating said date as soon as practicable after the occurrence thereof.
Appears in 2 contracts
Samples: Mineral Lease Agreement and Option to Purchase (Gentor Resources, Inc.), Assignment Agreement (Gentor Resources, Inc.)
Commercial Production. For the purposes of this Agreement, the Premises shall come into commercial production Commercial Production on the date upon which ore mined from the Premises is first delivered to a purchaser on a commercial basis or on the date upon which concentrates or other products derived therefrom are first delivered to a purchaser on a commercial basis, whichever date is earlier, it being agreed that deliveries of such ores, concentrates or other products resulting from pilot or test operations shall not be considered as deliveries on a commercial basis for the purposes of this paragraph. Lessee Gentor shall deliver to Owner notice indicating said the date of Commercial Production as soon as practicable after the occurrence thereof.
Appears in 2 contracts
Samples: Mining Exploration and Option Agreement (Gentor Resources, Inc.), Mining Exploration and Option Agreement (Gentor Resources, Inc.)
Commercial Production. For the purposes of this Agreement, the Premises shall come into commercial production on the date upon which ore mined from the Premises is first delivered to a purchaser on a commercial basis or on the date upon which concentrates or other products derived therefrom are first delivered to a purchaser on a commercial basis, whichever date is earlier, it being agreed that deliveries of such ores, concentrates or other products resulting from pilot or test operations shall not be considered as deliveries on a commercial basis for the purposes of this paragraph. Lessee Gentor shall deliver to Owner notice indicating said date as soon as practicable after the occurrence thereof.
Appears in 1 contract
Samples: Mining Exploration and Option Agreement (Gentor Resources, Inc.)
