Exploration and Development Work definition

Exploration and Development Work means all activities directed toward ascertaining the existence, location, quantity, quality, or commercial value of deposits of minerals on the Property.
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Exploration and Development Work means work conducted on or for the benefit of the Concession through making the Exploration and Development expenditures, as defined below. This work may include prospecting, searching, exploring for, developing, or producing minerals from the Concession; examining, measuring, sampling, or analyzing the shape, position, characteristics, and value of such mineral deposits; and, may include, without limitation, the acquisition, installation, and construction of mine, mill, and processing facilities, roads, pipelines, electric utilities, water supply and distribution systems, site preparation and removal of overburden.
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Examples of Exploration and Development Work in a sentence

  • In such case, MAX shall be deemed to have incurred the Exploration and Development Work Expenditures for the annual period for which MAX makes such payments.

  • Expenditures for Exploration and Development Work incurred by MAX during any annual period in excess of those prescribed for the annual period shall be credited in MAX’s favor against subsequent Exploration and Development Work Expenditure obligations.

  • If Claremont successfully defends against such an attack on the validity of the mining claims, Claremont’s expenditures shall be considered Exploration and Development Work Expenditures and MAX shall be obligated to reimburse Claremont for the amount of the same.

  • If MAX terminates this Agreement before the first anniversary of the Effective Date and MAX does not complete the Exploration and Development Work Expenditures for the first year, MAX shall pay to Claremont the difference between Two Hundred Fifty Thousand Dollars ($250,000.00) and the amount of the actual Exploration and Development Work Expenditures which MAX incurs before the first anniversary of the Effective Date.

  • MAX shall semi-annually provide Claremont with copies of all exploration plans and progress reports concerning Exploration and Development Work and engineering or other studies and reports developed by MAX or its agents and consultants concerning the Property, provided, however, that MAX shall have no obligation to deliver to Claremont MAX’s confidential or proprietary business, financial or investment plans or reports not directly relating to the Exploration and Development Work.

  • MAX and Claremont shall meet at regular intervals as requested by Claremont (not less frequently than annually) in order for MAX to report to Claremont on the status and progress of the Exploration and Development Work and MAX's plans for future operations on the Property.

  • If during any year of this Agreement after the first anniversary of the Effective Date MAX does not incur Exploration and Development Work Expenditures in the annual amount, MAX shall have the option and right, exercisable in MAX’s sole and exclusive discretion, to elect to pay Claremont an amount equal to the difference between the Exploration and Development Work Expenditures actually incurred and the amount described above for the annual period.

  • In consideration of the payment of $10 by the Optionee to the Optionor, the receipt and sufficiency of which is acknowledged, the Optionor hereby gives and grants to the Optionee the sole and exclusive right and option to earn an undivided 50% right, title and interest in and to the Claims by spending $525,000 on Exploration and Development Work on the Claims both as provided for in section 5 on the terms and conditions herein contained.

  • Upon completion of all of the payments according to Article 3.02 and all of the Exploration and Development Work according to Article 3.03, the Terms and Conditions of the operating agreement attached in Exhibit E (the "Operating Agreement") will become effective reflecting the existing participating interest of the parties at the time.

  • The rates of interest under this Indenture are nominal rates, and not effective rates or yields.

Related to Exploration and Development Work

  • Research and development means (1) theoretical analysis, exploration, or experimentation; or (2) the extension of investigative findings and theories of a scientific or technical nature into practical application for experimental and demonstration purposes, including the experimental production and testing of models, devices, equipment, materials, and processes. Research and development does not include the internal or external administration of radiation or radioactive material to human beings.

  • Research and development facility means an establishment engaged in laboratory, scientific, or experimental testing and development related to new products, new uses for existing products, or improving existing products. The term does not include an establishment engaged in efficiency surveys, management studies, consumer surveys, economic surveys, advertising, promotion, banking, or research in connection with literary, historical, or similar projects.

  • land development area means an erf or the land which is delineated in an application submitted in terms of this By-law or any other legislation governing the change in land use and “land area” has a similar meaning;

  • Planned development means a real property development other than a community apartment project, a condominium project, or a stock cooperative, having either or both of the following features:

  • Land development means the erection of buildings or structures on land, or the change of use of land, including township establishment, the subdivision or consolidation of land or any deviation from the land use or uses permitted in terms of an applicable land use scheme;

  • spatial development framework means the Kouga Municipal Spatial Development Framework prepared and adopted in terms of sections 20 and 21 of the Act and Chapter 2 of this By-Law;

  • Infill development means new construction on a vacant commercial lot currently held as open space.

  • Commercial Development means any development on private land that is not heavy industrial or residential. The category includes, but is not limited to: hospitals, laboratories and other medical facilities, educational institutions, recreational facilities, plant nurseries, car wash facilities, mini-malls and other business complexes, shopping malls, hotels, office buildings, public warehouses and other light industrial complexes.

  • land development application means the application for a land development permit on a form provided by [local jurisdiction] along with the supporting documentation required in Section [Y]-10(a).

  • experimental development means acquiring, combining, shaping and using existing scientific, technological, business and other relevant knowledge and skills with the aim of developing new or improved products, processes or services. This may also include, for example, activities aiming at the conceptual definition, planning and documentation of new products, processes or services;

  • Exploration means all activities directed toward ascertaining the existence, location, quantity, quality or commercial value of deposits of Products.

  • Commercial Development Plan means the written commercialization plan attached as Appendix E.

  • municipal spatial development framework means a municipal spatial development framework adopted by the Municipality in terms of Chapter 5 of the Municipal Systems Act;

  • Development Works means the external development works and internal development works on immovable property;

  • Development Area means that area to which a development plan is applicable.

  • Exploration Operations means operations conducted in the Contract Area pursuant to this Contract in searching for Petroleum and in the course of an Appraisal Programme and shall include but not be limited to aerial, geological, geophysical, geochemical, palaeontological, palynological, topographical and seismic surveys, analysis, studies and their interpretation, investigations relating to the subsurface geology including structural test drilling, stratigraphic test drilling, drilling of Exploration Xxxxx and Appraisal Xxxxx and other related activities such as surveying, drill site preparation and all work necessarily connected therewith that is conducted in connection with Petroleum exploration.

  • Transit-oriented development means infrastructure improvements that are located within 1/2 mile of a transit station or transit-oriented facility that promotes transit ridership or passenger rail use as determined by the board and approved by the municipality in which it is located.

  • Development Work means the conduct of preclinical and clinical trials, the compilation of the regulatory dossier concerning Licensed Products and the conduct of other work necessary or useful for obtaining Regulatory Approval of Licensed Products.

  • Existing development means development, other than that associated with agricultural or forest management activities, that meets one of the following criteria:

  • Economic development means all powers expressly granted and reasonably inferred pursuant to SDCL § 9-54.

  • Commencement of Development means the date on which any material operation (as defined in Section 56(4) of the Act) forming part of the Development is begun other than (for the purposes of this Deed and for no other purpose) operations consisting of site clearance, demolition work, archaeological investigations for the purpose of assessing ground conditions, remedial work in respect of any contamination or other adverse ground conditions, diversion and laying out of services, erection of any temporary display of site notices or advertisements and “Commence Development” shall be construed accordingly

  • Substantial development means any development of which the total cost or fair market value exceeds two thousand five hundred dollars, or any development which materially interferes with the normal public use of the water or shorelines of the state; except that the following shall not be considered substantial developments for the purpose of this chapter:

  • Initial Development Plan has the meaning set forth in Section 3.2(b).

  • Economic development project means land and existing or planned improvements suitable for use by an industrial or commercial enterprise, or housing development, or the protection of the environment, including, but not limited to, groundwater or surface water. Economic development project includes necessary buildings, improvements, or structures suitable for and intended for or incidental to use as an industrial or commercial enterprise or housing development; and includes industrial park or industrial site improvements and port improvements or housing development incidental to an industrial or commercial enterprise; and includes the machinery, furnishings, and equipment necessary, suitable, intended for, or incidental to a commercial, industrial, or residential use in connection with the buildings or structures.

  • Cluster development means a contiguous cluster or

  • site development plan means a dimensioned plan drawn to scale that indicates details of the proposed land development, including the site layout, positioning of buildings and structures, property access, building designs and landscaping;