Initial Participating Interest Sample Clauses
The Initial Participating Interest clause defines the original ownership share or percentage that each party holds in a joint venture or project at the outset. This clause typically specifies how much of the costs, liabilities, and benefits each party is responsible for based on their initial stake, and may outline how these interests are calculated or adjusted if new parties join or if certain conditions are met. Its core function is to establish a clear baseline for ownership and participation, ensuring all parties understand their rights and obligations from the beginning of the agreement.
Initial Participating Interest. Pursuant to the provisions of Section 3 of the Mineral Agreement, upon their respective initial contributions made pursuant to Section 5.1, the Partners shall have the following Participating Interests in the Partnership.
Initial Participating Interest. The Participants shall have the following initial Participating Interests in the Venture subject to adjustment as discussed in Section 5.2. NJMC 67% UMS 33%
Initial Participating Interest. Subject to §(b) below, the Participants shall have the following initial Participating Interests in the Venture: War Eagle 30% Revelstoke 70%
Initial Participating Interest. Subject to §(b) below, the Participants shall have the following initial Participating Interests in the Venture:
(i) Magnus: 74.5%; and
(ii) FinMetal: 25.5%
Initial Participating Interest. Subject to the applicable Earn-In election by NEWMONT in accordance with Section 5.2, and to Subsection 6.1.2, the Participants shall have the following initial Participating Interests in the Venture: NEWMONT 60% (or 70% if NEWMONT completes Phase-II Earn-In) COMPANY 40% (or 30% if NEWMONT completes Phase II Earn-In)
Initial Participating Interest. On the Effective Date, Metanor shall have a 50% Participating Interest and Halo shall have a 50% Participating Interest. Thereafter, each Participant shall have a Participating Interest as is determined from time to time in accordance with the provisions of this Agreement.
Initial Participating Interest. Subject to §(b) below, the Participants shall have the following initial Participating Interests in the Venture: Eagle Plains u % Amarc u %
Initial Participating Interest. Per section 5.2 above, the initial Participating Interests of the Participants in the Joint Venture is as follows:
(a) Southern as to 80% Participating Interest until it has been repaid 115% of the cost of putting the Property into production; and
(b) Vittone as to 20% Participating Interest. Thereafter, the parties ▇▇▇▇▇ ▇ach receive 50% of the net proceeds of the Joint Venture.