Annual Rental. The Company shall pay to EMRA an annual rental fee per squared kilometre of land included in the Exploration Area in accordance with Applicable Law. The rental value may be amended every three years by the Prime Minister’s Decree upon the proposal of EMRA's Board of Directors and after the presentation of the MINISTER as stipulated in Article (21) of the Executive Regulations of the Mineral Resources Law. Such rental payments shall be paid in advance. Each Exploration License shall accrue an annual rent per square kilometre of the Exploration Area or part thereof, rounded up to the nearest square kilometre as follows:
Appears in 3 contracts
Samples: Mining Exploration License Model, Mining Exploration License Model, Mining Exploration License Model
Annual Rental. The Company shall pay to EMRA an annual rental fee per squared kilometre kilometer of land included in the Exploration Area in accordance with Applicable Law. The rental value may be amended every three years by the Prime Minister’s Decree upon the proposal of EMRA's Board of Directors and after the presentation of the MINISTER as stipulated in Article (21) of the Executive Regulations of the Mineral Resources Law. Such rental payments shall be paid in advance. Each Exploration License shall accrue an annual rent per square kilometre kilometer of the Exploration Area or part thereof, rounded up to the nearest square kilometre kilometer as follows:
Appears in 1 contract
Samples: www.petroleum.gov.eg
