Common use of Emergency or Unexpected Expenditures Clause in Contracts

Emergency or Unexpected Expenditures. In case of emergency, a Manager may take any reasonable action it deems necessary to protect life, limb or property, to protect the Assets or to comply with law or government regulation. The Manager may also make reasonable expenditures for unexpected events which are beyond its reasonable control and which do not result from a breach by it of its standard of care. The Managers shall promptly notify the Members of the emergency or unexpected expenditure, and the Managers shall be reimbursed for all resulting costs by the Members in proportion to their respective Ownership Interests at the time the emergency or unexpected expenditures are incurred.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Hecla Mining Co/De/)

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Emergency or Unexpected Expenditures. In case of emergency, a the Manager may take any reasonable action it deems necessary to protect life, limb limb, or property, to protect the Assets Assets, or to comply with law or government regulation. The Manager may also make reasonable expenditures for unexpected events which are beyond its reasonable control and which do not result from a breach by it of its standard of care. The Managers Manager shall promptly notify the Members Participants of the emergency or unexpected expenditure, and the Managers Manager shall be reimbursed for all resulting costs by the Members Participants in proportion to their respective Ownership Participating Interests at the time the emergency or unexpected expenditures are incurred.

Appears in 1 contract

Samples: Mining Venture Agreement (Teryl Resources Corp)

Emergency or Unexpected Expenditures. In case of emergency, a the Manager may take any reasonable action it deems necessary to protect life, limb or assets and property, to protect including the Assets Property, or to comply with law or government regulationLaws. The Manager may also make incur reasonable expenditures Expenditures for unexpected emergency events which are beyond its reasonable control and which do not result from a breach by it of its standard of carecare (the “Emergency Events”). The Managers Manager shall promptly notify the Members Parties of the emergency or unexpected expenditure, any Emergency Event and the Managers expenditures incurred in relation thereto shall constitute Expenditures under this Agreement and shall be reimbursed for all resulting costs borne by the Members Parties in proportion to their respective Ownership Participating Interests at the time the emergency or unexpected expenditures are incurredsuch Emergency Event occurs.

Appears in 1 contract

Samples: Option and Joint Venture Agreement (Strateco Resources Inc)

Emergency or Unexpected Expenditures. In the case of an emergency, a the Manager may take any reasonable action it deems necessary to protect life, limb or property, to protect the Assets or to comply with law all laws, regulations, orders or government regulationpolicy directives of any Governmental Authority having jurisdiction. The Manager may also make reasonable expenditures for unexpected events which are beyond its reasonable control and which do not result from a breach by it of its standard of care. The Managers Manager shall promptly notify the Members Participants of the emergency or unexpected expenditure, expenditures and the Managers Manager shall be reimbursed for all resulting costs by the Members Participants in proportion to their respective Ownership Participating Interests at the time the emergency or unexpected expenditures are incurred.

Appears in 1 contract

Samples: Joint Venture Agreement (Halo Resources LTD)

Emergency or Unexpected Expenditures. In case of emergency, a the Manager may take any reasonable action it deems necessary to protect life, limb or property, to protect the Assets or to comply with law law, government regulation or government regulationcontractual obligations. The Manager may also make reasonable expenditures for unexpected events which are beyond its reasonable control and which do not result from a breach by it of its standard of care. The Managers Manager shall promptly notify the Members Management Committee of the emergency or unexpected expenditure, and the Managers Manager shall be reimbursed for all resulting costs by the Members Participants in proportion to their respective Ownership Participating Interests at the time the emergency occurred or the unexpected expenditures are were incurred.

Appears in 1 contract

Samples: Option Agreement (Radius Gold Inc.)

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Emergency or Unexpected Expenditures. In case the event of an emergency, a the Manager may take any reasonable action it deems necessary to protect life, limb or property, to protect the Assets or to comply with law or government regulation. The Manager may also make reasonable expenditures for unexpected events which are beyond its reasonable control and which do not result from a breach by it of its standard of care. The Managers Manager shall promptly notify the Members Participants of the emergency or unexpected expenditure, and and, subject to clause 10.1 above as to Gareste, the Managers Manager shall be reimbursed for all resulting costs by the Members Participants in proportion to their respective Ownership Participating Interests at the time the emergency or unexpected expenditures are incurred.

Appears in 1 contract

Samples: In and Joint Venture Agreement (Pan American Lithium Corp)

Emergency or Unexpected Expenditures. In case of emergency, a the Manager may take any reasonable action it deems necessary to protect life, limb or property, to protect the Assets or to comply with law or government regulation. The Manager may also make reasonable expenditures for unexpected events which are beyond its reasonable control and which do not result from a breach by it of its standard of care. The Managers Manager shall promptly notify the Members of the emergency or unexpected expenditure, and the Managers Manager shall be reimbursed for all resulting costs by the Company, which cost shall be funded by the Members making additional capital contributions to the Company in proportion to their respective Ownership Percentage Interests at the time the emergency or unexpected expenditures are incurred.

Appears in 1 contract

Samples: Limited Liability Company Agreement

Emergency or Unexpected Expenditures. In case of emergency, a the Manager ------------------------------------ may take any reasonable action it deems necessary to protect life, limb or property, to protect the Assets or to comply with law or government regulation. The Manager may also make reasonable expenditures for unexpected events which are beyond its reasonable control and which do not result from a breach by it of its standard of care. The Managers Manager shall promptly notify the Members Participants of the emergency or unexpected expenditure, and the Managers Manager shall be reimbursed for all resulting costs by the Members Participants in proportion to their respective Ownership Participating Interests at the time the emergency or unexpected expenditures are incurred.

Appears in 1 contract

Samples: Mining Venture Agreement (Western Goldfields Inc)

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