EXPLORATION AND DEVELOPMENT EXPENSES Sample Clauses

EXPLORATION AND DEVELOPMENT EXPENSES. 10 <PAGE> All expenses, direct and indirect, that are related to exploration, shall be born, fully and exclusively, by METALLICA, and not attributable to the price of the option, the Beneficiary being authorized to associate itself with third parties or subcontract for the purposes of exploration development. 10. PURCHASE PRICE OFFER The total purchase price offered in respect of the Mining Property object of this contract is the amount of US$3,500,000, an amount that is payable and shall be paid to SOCIEDAD CONTRACTUAL MINERA LOS POTRILLOS in accordance with the following calendar: ONE.- The sum of US$100,000 to be paid upon entering into this deed, in cash, equivalent as of the date of this contract to $62.676.000 Chilean pesos, the Property Owner stating that it has received the same to its complete satisfaction; TWO.- The sum of US$200,000 to be paid not later than one year from the date of this contract. THREE.- The sum of US$200,000 to be paid not later than two years from the date of this contract. FOUR.- The sum of US$400,000 to be paid not later than three years from the date of this contract. FIVE.- The sum of US$750,000 to be paid not later than four years from the date of this contract. 11 <PAGE> SIX.- The sum of US$1,850,000 to be paid at the time of exercising the option, not later than five years from the date of this contract. In the event that METALLICA elects not to exercise the option, subject matter of this contract, however its negative will is expressed or implied, through one of the forms indicated in Clause 8 above, or by any other unequivocal manner, whatever amounts of money indicated in numbers ONE to FIVE above have been paid, the amounts shall in no case be returned by the Property Owner. Equal treatment shall be applied to the money invested in Exploration Expenses. Furthermore, in such event all payment obligations of price and investment in Exploration Expenses that this contract imposes upon METALLICA shall cease, with the sole exception of the obligation to complete the investment in exploration as referred to in number 1 of clause 4, if at the date that METALLICA expresses its will of not exercising the option, whatever the form of the negative will that is expressed or inferred, of any form whatsoever as indicated in clause 8 above, or any other unequivocal form producing the same effect, this investment should not have been completely carried out. 11. PAYMENT OF NET SMELTER RETURN ("NSR") The parties agree that independ...
Sample 1
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EXPLORATION AND DEVELOPMENT EXPENSES. Upon the terms and conditions set forth herein, PDUS shall have the obligation during each Annual Period to incur Exploration and Development Expenses in the minimum amount set forth in Table A below or to make the payment described in Section 2.3(b). "Annual Period" shall mean each period of one year during the term of this Agreement which commences on the date of this Agreement or on an anniversary of such date. Each anniversary of the Effective Date shall be referred to hereinafter as an "Anniversary Date." Any Exploration and Development Expenses incurred by PDUS in excess of the minimum amounts set forth in the table during any Annual Period may be carried forward by PDUS and shall apply as a credit toward Exploration and Development Expenses in subsequent Annual Periods. TABLE A Minimum Work Schedule Time Period Minimum Work Requirement ----------- ------------------------ In U.S. $
Sample 1
EXPLORATION AND DEVELOPMENT EXPENSES. All expenses, direct and indirect, that are related to exploration, shall be born, fully and exclusively, by METALLICA, and not attributable to the price of the option, the Beneficiary being authorized to associate itself with third parties or subcontract for the purposes of exploration development.
Sample 1

Related to EXPLORATION AND DEVELOPMENT EXPENSES

  • Development Expenses Novartis shall be solely responsible for the costs and expenses of Developing and commercializing Licensed Products pursuant to the terms of this Agreement, except with respect to Infinity’s research, development and commercialization activities with respect to an Abandoned Profile pursuant to Section 3.3.1 (subject to Section 2.3).

  • Research and Development (i) Advice and assistance in relation to research and development of Party B;

  • Development Costs With respect to activities prior to the Amendment Effective Date, each Party was to pay [*] of the total Direct Development Costs of a Product incurred in accordance with the Development Budget (as defined in the Original Agreement). Notwithstanding anything in this Article 6 of this Agreement or in any other provision of this Agreement to the contrary, with respect to activities on and after the Amendment Effective Date, subject to Sections 3.1.2, Alimera will be solely responsible for, and shall pay one hundred percent (100%) of, all development costs of a Product, including Direct Development Costs. Notwithstanding anything in this Article 6 of this Agreement or in any other provision of this Agreement to the contrary, (i) all payments owing by CDS hereunder with respect to development activities prior to the Amendment Effective Date are hereby deemed fully paid by CDS (or waived, to the extent such waiver may be required), including any Development Payments, Compounded Development Payments, Determined Disputed Costs and Compounded Disputed Costs (as all defined in the Original Agreement), further including any penalties and interest which might have accrued with respect thereto, and further including all CDS payments deferred pursuant to that February 11, 2008 letter agreement sent by CDS and executed by CDS and Alimera regarding deferral of payments under the Original Agreement as of such date; (ii) all payments owing by Alimera hereunder with respect to development activities prior to the Amendment Effective Date are hereby deemed fully paid by Alimera (or waived, to the extent such waiver may be required), including any Development Payments, Compounded Development Payments, Determined Disputed Costs and Compounded Disputed Costs (as all defined in the Original Agreement), and further including any penalties and interest which might have accrued with respect thereto; and (iii) subject to Sections 3.1.1 and 3.1.2, from and after the Amendment Effective Date, CDS will have no liability whatsoever hereunder for any past, present or future development costs, including Direct Development Costs (which includes those incurred before, on and after the Amendment Effective Date), and instead Alimera shall have sole liability therefor.

  • Clinical Development Licensee will have sole responsibility for and sole decision making over the clinical development of any Product arising from the Research Program in the Field. Notwithstanding the foregoing, if Licensee wishes to conduct clinical development of a Development Candidate at Penn and Penn has the clinical expertise, interest and ability to run such a trial as assessed at Penn’s sole discretion, such a study will be conducted under a separate Clinical Trial Agreement to be negotiated by the Parties prior to initiation of such study. Such separate clinical trial agreement will include a detailed clinical development plan, including costs and time lines for conducting the Clinical Trial.

  • Annual Business Plan and Budget As soon as practicable and in any event not later than thirty (30) days after the end of each Fiscal Year, a business plan and operating and capital budget of the Borrower and its Subsidiaries for the ensuing four (4) fiscal quarters, such plan to be prepared in accordance with GAAP and to include, on a quarterly basis, the following: a quarterly operating and capital budget, a projected income statement, statement of cash flows and balance sheet, calculations demonstrating projected compliance with the financial covenants set forth in Section 9.15 and a report containing management’s discussion and analysis of such budget with a reasonable disclosure of the key assumptions and drivers with respect to such budget, accompanied by a certificate from a Responsible Officer of the Borrower to the effect that such budget contains good faith estimates (utilizing assumptions believed to be reasonable at the time of delivery of such budget) of the financial condition and operations of the Borrower and its Subsidiaries for such period.

  • Marketing Expenses Certain marketing expenses, such as Selected Dealer conferences, may be advanced to Selected Dealer and later deducted from the portion of the Dealer Manager Fee re-allowed to that Selected Dealer. If the offering of Shares in a Feeder Fund is not consummated, Selected Dealer will repay any such advance to the extent not previously expended on marketing expenses. Any such advance shall be deducted from the maximum amount of the Dealer Manager Fee that may otherwise be re-allowable to Selected Dealer. Notwithstanding anything herein to the contrary, as to any Feeder Fund, Selected Dealer will not be entitled to receive any Dealer Manager Fee and/or Distribution and Shareholder Servicing Fee which would cause the aggregate amount of selling commissions, dealer manager fees, Distribution and Shareholder Servicing Fees and other forms of underwriting compensation (as defined in accordance with applicable FINRA rules) received by the Dealer Manager and all Selected Dealers to exceed 10.0% of the gross proceeds raised from the sale of Shares in the Feeder Fund’s primary offering.

  • Initial Development Plan Not later than the Effective Date, Licensee shall have provided Merck with an initial Development plan for the Licensed Product in the Field in the Territory, which shall be incorporated as part of this Agreement as Attachment 3.02(a) (as may be amended in accordance with this Agreement, the “Development Plan”). **CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND WILL BE FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST.

  • Information Systems Acquisition Development and Maintenance Security of System Files. To protect City Information Processing Systems and system files containing information, Service Provider will ensure that access to source code is restricted to authorized users whose specific job function necessitates such access.

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