Limitation on Indemnities. 6.3 If a Joint Venture is formed pursuant to §9.1, any Environmental Liability caused by a party prior to the formation of the Joint Venture will continue to be a liability of that party. If the Environmental Liability arises from operations conducted on the Property after the date the Joint Venture is formed, the Environmental Liability will be borne by the parties in accordance with their participating interests at the time the Environmental Liability arises.
Appears in 3 contracts
Samples: Option and Joint Venture Agreement (Lake Victoria Mining Company, Inc.), Option and Joint Venture Agreement (Lake Victoria Mining Company, Inc.), Option and Joint Venture Agreement (Lake Victoria Mining Company, Inc.)
Limitation on Indemnities. 6.3 7.3 If a Joint Venture is formed pursuant to §9.110.1, any Environmental Liability caused by a party prior to the formation of the Joint Venture will continue to be a liability of that party. If the Environmental Liability arises from operations conducted on the Property after the date the Joint Venture is formed, the Environmental Liability will be borne by the parties in accordance with their participating interests at the time the Environmental Liability arises.
Appears in 1 contract
Samples: Option and Joint Venture Agreement (Lake Victoria Mining Company, Inc.)
