Common use of Mining Interests Clause in Contracts

Mining Interests. The Borrower, though SCM Subsidiary, holds Good and Defensible Title to the Cerro ▇▇▇▇▇▇ Project. Neither the Borrower nor SCM Subsidiary is in material breach or default (and no situation exists which with the passing of time or giving of notice would give rise to such a breach or default) of SCM Subsidiary’s obligations under any of the Cerro ▇▇▇▇▇▇ Basic Documents, and no breach or default by any other party to any Cerro ▇▇▇▇▇▇ Basic Document (or situation which with the passage of time or giving of notice would give rise to such a breach or default) exists, to the extent such breach or default (whether by SCM Subsidiary or another party to any Cerro ▇▇▇▇▇▇ Basic Document) could adversely affect any of the interests of SCM Subsidiary in and to the Cerro ▇▇▇▇▇▇ Project. All conditions necessary to maintain the Cerro ▇▇▇▇▇▇ Basic Documents in force have been duly performed. To the Knowledge of Borrower, no delinquent unpaid bills or past due charges exist for any labor and materials incurred by or on behalf of the Borrower or SCM Subsidiary related to the exploration, development or operation of the Cerro ▇▇▇▇▇▇ Project. No suit, action or proceeding (including, without limitation, tax or environmental demands proceedings) is pending or threatened, which might result in material impairment or loss of title to any of the interests in the Cerro ▇▇▇▇▇▇ Project or the material value thereof.