Common use of Mining Licenses Clause in Contracts

Mining Licenses. The Mining Licenses have been validly granted and recorded in the name of, and are owned by the applicable Obligor and are in full force and effect, except as provided in the Perfection Certificates. The Administrative Agent for the benefit of the Finance Parties pursuant to the Security Documents has or will have a Lien on the Las Chispas Mine Mining Licenses upon the execution, delivery and, where required, registration of the Security Documents to which Llamarada is a party. The Mining Licenses grant the holders thereof the exclusive right to extract minerals from the areas covered by the Mining Licenses in accordance with the respective terms and conditions thereof and applicable thereto. Except as disclosed in the Perfection Certificates, as such disclosure may be updated from time to time to the extent required pursuant to Section 11.1(b), and: (i) no Person has any material right, title or interest in or to the Mining Licenses other than Permitted Liens; and (ii) except for Permitted Liens, all fees, including maintenance fees, and other payments due to any Official Body in respect of the Mining Licenses have been paid in full on a timely basis, except as would not materially interfere with the use made by the applicable Obligor of the Mining Licenses.

Mining Licenses. The Mining Licenses have been validly granted and recorded in the name of, and are owned by the applicable Obligor Subsidiary of Equinox and are in full force and effect, except as provided in the Perfection CertificatesCertificates or Title Opinions. The Administrative Agent for the benefit of the Finance Parties pursuant to the Security Documents has or will have a Lien on the Las Chispas Mine Mining Licenses upon the execution, delivery and, where required, applicable consents of Official Bodies and registration of the Security Documents to which Llamarada the relevant Subsidiary of Equinox is a party. The Mining Licenses grant the holders thereof the exclusive right to extract minerals from the areas covered by the Mining Licenses in accordance with the respective terms and conditions thereof and applicable thereto. Except as disclosed in the Perfection CertificatesCertificates or Title Opinions, as such disclosure may be updated from time to time to the extent required pursuant to Section 11.1(b), and: ): (i) no Person has any material right, title or interest in or to the Mining Licenses other than Permitted Liens; and (ii) except for Permitted Liens, all fees, including maintenance fees, and other payments due to any Official Body in respect of the Mining Licenses have been paid in full on a timely basis, except as would not materially interfere with the use made by the applicable Obligor of the Mining Licenses.