Exclusive Right to Mine and Purchase Product Sample Clauses

Exclusive Right to Mine and Purchase Product. Owner hereby grants to USMN the exclusive right to mine and purchase Product from Owner. Owner agrees it will not sell Product or permit any other person or entity to purchase Product or mine on the claims controlled by Owner other than USMN subject to and conditioned upon USMN paying to Owner an amount which shall be the greater of: (i). the minimum amount annually of $140,400 ("Minimum Amount") payable $2,700 each week commencing on the first Monday after the date that this Agreement is executed by the Parties hereto and continuing on each consecutive Monday thereafter until this Agreement is otherwise modified or cancelled. USMN hereby covenants and agrees that it will not purchase Product from any other source or seller except Product mined from the Mining Claims. In the event that USMN purchases Product from any third parties then will constitute an event of default and Owner shall have the right and power to immediately terminate and cancel this Agreement and all rights granted to USMN granted hereunder. Such Minimum Amount shall be subject to adjustment to changes in the CPI as provided pursuant to the provisions of Paragraph 4 of this Agreement. The first adjustment year shall be November, 2014 using the calculations set forth in said Paragraph 4 hereinafter; or (ii). an amount calculated weekly by multiplying the number of tons of Product actually mined and sold by USMN each week (commencing as provided herein) by $27 per ton (the "Actual Amount"). The amount of $27 per ton shall be referred to from time to time hereinafter as the "Base Amount". The Actual Amount shall be calculated and paid weekly commencing the first Monday after the date that this Agreement is executed by the Parties hereto and continuing on each consecutive Monday thereafter until this Agreement is otherwise modified or cancelled. For example if the weekly mining and sales for a particular week is 2,800 tons then the Actual Amount shall be calculated by multiplying 2,800 times $27 per ton which equals $75,600. Since the Actual Amount is greater than the Minimum Amount then USMN would pay to owner the sum of $75,600 in lieu of the Minimum Amount. The price per ton of $27 which is the Base Amount shall be used to calculate the Actual Amount shall be subject to adjustment to changes in the CPI as provided pursuant to the provisions of Paragraph 4 of this agreement. The first adjustment year shall be November 1, 2014 using the calculations set forth in said paragraph 4 hereinafter...
Sample 1
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Exclusive Right to Mine and Purchase Product. Owner hereby grants to USNNM the exclusive right to mine and purchase Product from Owner. Owner agrees it will not sell Product or permit any other person or entity to purchase Product or mine on the claims controlled by Owner other than USNNM on condition that USNNM purchases and makes payment to Owner as detailed in the following Schedule: Schedule for Yearly Minimums (Purchase Minimums) Date Amount of Minimum Purchase 11/24/2009 to 03/31/2010 150 Tons 04/1/2010 to 03/31/2011 1.500 Tons 04/1/2011 to 03/31/2012 7,500 Tons 04/1/2012 to 03/31.2013 24,000 Tons 04/1/2013 and thereafter 40,000 Tons In the event USNNM fails to adhere to the Purchase Minimums for a period of one year then such Exclusive Right shall terminate and Owner shall be entitled to either (i). terminate this contract and cause USNNM to terminate all mining operations on Owner’s claims or (ii). sell Product to other purchasers in addition to USNNM. USNNM may cure any default in the Purchase Minimum by paying for the difference between the amount actually purchased in any one year which was less than the minimum as provided herein and the amount actually ordered and paid for. For example: in the event USNNM purchases and pays for 500 tons in one year and which is less than the Purchase Minimum for that year, if it desired to maintain its exclusivity, then it would have to pay for the difference at the price agreed to herein to maintain said Purchase Minimum. Such payment would have to be paid on or prior to the tenth day of the next succeeding month after the ending month of the year where the Purchase Minimum was not attained. Notwithstanding the foregoing, nothing in this agreement confers on USNNM or its agents any rights of ownership in any mining claims owned or controlled by Owner now or in the future.
Sample 1

Related to Exclusive Right to Mine and Purchase Product

  • Exclusive Rights Enter into or amend any agreements pursuant to which any other party is granted exclusive marketing or other exclusive rights of any type or scope with respect to any of its products or technology;

  • Non-Exclusive Right In the event this Agreement is terminated or upon written notice from Western at any time, the Corporation hereby agrees that it will eliminate from the Fund's name any reference to the name of "Western." The Corporation, on behalf of the Fund, shall have the non-exclusive use of the name "Western" in whole or in part only so long as this Agreement is effective or until such notice is given.

  • Non-Exclusive Rights The provisions for indemnification of, and advancement of Expenses to, the Board Member set forth in this Agreement shall not be deemed exclusive of any other rights to which the Board Member may otherwise be entitled. Notwithstanding the previous sentence, the indemnification provided for in this Agreement is in lieu of, and not in addition to, the indemnification set forth in the Trust Instrument. The Fund shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent that the Board Member has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

  • Exclusive Negotiations Seller shall (i) remove the Property from the market, and (ii) cease and refrain from any and all negotiations with any other prospective optionees or purchasers of the Property.

  • Non-Exclusive License Grant Subject to the terms and conditions of this Agreement, Takeda hereby grants to Licensee a non-exclusive, sublicensable (subject to Section 3.3 (Sublicensing)) right and license under the Takeda Technology and Takeda’s interest in the Joint Technology to: (a) Develop the TAK-385 Licensed Compound and TAK-385 Licensed Products in the Men’s Health Field in the Takeda Territory solely for the purpose of Exploiting such Licensed Products in the Field in the Licensee Territory, or as required in order for Licensee to comply with its diligence obligations set forth in Section 5.2 (Development Diligence Obligations) and (b) Manufacture the TAK-385 Licensed Compound and TAK-385 Licensed Products in the Takeda Territory.

  • Exclusive License Grant Subject to the terms and conditions of this Agreement, Licensee hereby grants to Takeda an exclusive, sublicensable (subject to Section 3.3 (Sublicensing)), royalty-bearing right and license under the Licensee Technology and Licensee’s interest in the Joint Technology to Exploit the TAK-385 Licensed Compound and TAK-385 Licensed Products in the Field in the Takeda Territory.

  • Non-Exclusive Services The services of the Adviser to the Trust are not deemed exclusive, and the Adviser shall be free to render similar services to others, to the extent that such service does not affect the Adviser’s ability to perform its duties and obligations hereunder.

  • Exclusive Service Employee shall devote his best efforts and full time to rendering services on behalf of the Corporation in furtherance of its best interests. Employee shall comply with all policies, standards and regulations of the Corporation now or hereafter promulgated, and shall perform his duties under this Agreement to the best of his abilities and in accordance with standards of conduct applicable to officers of banks.

  • Exclusive Services Executive shall at all times faithfully, industriously and to the best of his or her ability, experience and talent perform to the satisfaction of the Board and the CEO all of the duties that may be assigned to Executive hereunder and shall devote substantially all of his or her productive time and efforts to the performance of such duties. Subject to the terms of the Employee Confidentiality and Invention Assignment Agreement referred to in Section 5(b), this shall not preclude Executive from devoting time to personal and family investments or serving on community and civic boards, or participating in industry associations, provided such activities do not interfere with his or her duties to the Company, as determined in good faith by the CEO. Executive agrees that he or she will not join any boards, other than community and civic boards (which do not interfere with his or her duties to the Company), without the prior approval of the CEO.

  • Consideration for License 4.1 In partial consideration for the rights granted hereunder, NOBLE agrees to prepare and file, or have prepared and filed, any and all applications in the name of UGARF for plant variety rights for the Licensed Variety in the United States and, at NOBLE’s discretion, in any other jurisdiction.

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