Common use of Exploration and Development Expenditures Clause in Contracts

Exploration and Development Expenditures. Costs incurred by Lessee after the effective date hereof with respect to exploring and developing the leased premises and all matters connected therewith including, but not limited to, costs relating to geological, geochemical and geophysical studies, exploration and developmental drilling, sampling and assaying, mine design and development, acquisition of mining or processing equipment or machinery, direct expenses of making application for and obtaining environmental and regulatory permits from government agencies (including reasonable attorney's fees), costs to patent the unpatented claims and any other costs which would be included within mining costs and/or milling and processing costs if such costs were incurred after the Commencement of Commercial Production. If any of the costs otherwise includable in Lessee's costs as set forth above are incurred partly for the benefit of any other properties or interests of Lessee, only the portion of such costs reasonably attributable to development and operation of the leased premises in accordance with GAAP shall be included.

Exploration and Development Expenditures. Costs incurred by Lessee after ‘the effective date hereof with respect to exploring and developing the leased premises and all matters connected therewith including, but not limited to, costs relating to geological, geochemical and geophysical studies, exploration and developmental drilling, sampling and assaying, mine design and development, acquisition of mining or processing equipment or machinery, direct expenses of making application for and obtaining environmental and regulatory permits from government agencies (including reasonable attorney's ’s fees), costs to patent the unpatented claims and any other costs which would be included within mining costs and/or milling and processing costs if such costs were incurred after the Commencement of Commercial Production. If any of the costs otherwise includable in Lessee's ’s costs as set forth above are incurred partly for the benefit of any other properties or interests of Lessee, only the portion of such costs reasonably attributable to exploration, development and operation of the leased premises in accordance with GAAP shall be included.