Operations Pursuant to Programs Clause Samples

Operations Pursuant to Programs. Except as otherwise provided in this Article 4, Operations shall be conducted, Costs shall be incurred and Assets shall be acquired only pursuant to approved Work Programs and Budgets approved by Kwagga. Each Work Program shall describe in reasonable detail the full scope, direction and nature of the proposed Operations, including, where appropriate, but not limited to: geologic research and reconnaissance to be undertaken; property and mineral interest acquisition proposals; proposed engineering studies and mining and construction plans; a long-range plan for the mining of all mineable reserves which logically would be mined under good mining practices; the kind and capacity of any plant or milling facilities to be acquired or constructed; a plan for delivery of Product; and the estimated period of time required to complete the proposed Operations. Each Budget shall include all anticipated Costs and expenses including, but not limited to: operation and maintenance expenditures, capital expenditures, a statement of expected cash calls and the rentals, filing fees, or other payments required to maintain the Project Area and the Licence in good standing during the Budgetary Period. Each request for funds to acquire capital items shall be delivered in accordance with Section 5.2 and shall include a description of such items in reasonable detail. Each Work Program shall be deemed to permit all expenditures required to permit the Manager to perform its duties hereunder and the incurring and payment of all Costs in relation thereto.

Operations Pursuant to Programs. Except as otherwise provided in this Article 8, Operations shall be conducted and Assets shall be acquired only pursuant to approved Programs. Programs and Budgets shall be designed to set forth in reasonable detail the scope, direction and nature of Operations and establish a fiscal basis for Operations, but are not expected to constitute an enumerated list of each activity and expenditure to be undertaken by the Manager or of the Costs to be incurred and each Program shall be deemed to permit all expenditures required to permit the Manager to perform its duties hereunder and the incurring and payment of all Costs in relation thereto. The Manager will report to the Management Committee monthly on Exploration activities and Costs during periods of active Exploration, and more frequently if unusual or significant events occur.

Operations Pursuant to Programs. Commencing on the Effective Date, all Operations will be planned and conducted and all estimates, reports and statements will be prepared and made on the basis of a Fiscal Year. Operations shall be conducted, Expenditures shall be incurred, and Assets shall be acquired only pursuant to Programs approved pursuant to Section 6.3.

Operations Pursuant to Programs. Presentation of Programs and Budgets

Operations Pursuant to Programs. Operations shall be conducted, expenses shall be incurred, and Assets shall be acquired only pursuant to approved Programs.

Operations Pursuant to Programs. Except as otherwise provided in this Article 8, all Operations shall be conducted, expenses shall be incurred and all Assets shall be acquired only pursuant to adopted Programs and Budgets. The Manager shall design the Programs and Budgets to set forth in reasonable detail the scope, direction and nature of Operations and establish a fiscal basis for Operations, but need not include an enumerated list of each activity and expenditure to be undertaken by the Manager or of the Costs to be incurred. The Manager may make all expenditures required to perform its duties hereunder.