Common use of Used Material Clause in Contracts

Used Material. (i) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used Material furnished by either Participant shall be priced at seventy-five percent (75%) of the New Price; B. used Material distributed to either Participant shall be priced (i) at seventy-five percent (75%) of the New Price if such Material was originally charged to the Business Account as new Material, or (ii) at sixty-five percent (65%) of the New Price if such Material was originally charged to the Business Account as good used Material at seventy-five percent (75%) of the New Price. (ii) Other used Material that, after reconditioning, will be further serviceable for original function as good secondhand Material, or that is serviceable for original function but not substantially suitable for reconditioning, shall be priced at fifty percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices.

Appears in 4 contracts

Sources: Joint Venture Agreement, Equity Participation and Earn in Agreement (Entree Gold Inc), Equity Participation and Earn in Agreement (Entree Gold Inc)

Used Material. (i) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used (A) Used Material furnished transferred by either the Operator or Participant shall be priced at seventy-five percent (75%) 70% of the New Price; B. used (B) Used Material distributed transferred to either the Operator or Participant shall be priced priced: (i1) at seventy-five percent (75%) 70% of the New Price if such Material was originally charged to the Business Joint Account as new Material, or or (ii2) at sixty-five percent (65%) 70% of the New Price price if such Material was originally charged to the Business Joint Account as good used Material at seventy-five percent (75%) 70 % of the New Price. (ii) Other used Used Material thatwhich, after reconditioning, reconditioning will be further serviceable for original function as good secondhand Material, or that which is serviceable for original function but not substantially suitable for reconditioning, reconditioning shall be priced at fifty percent (50%) 45% of the New Price. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices. Material no longer suitable for its original purpose but usable for some other purpose shall be priced on a basis comparable with items normally used for such other purposes.

Appears in 3 contracts

Sources: Joint Venture Agreement (Southern Energy Company, Inc.), Joint Venture Agreement (Siga Resources Inc.), Joint Venture Agreement (Siga Resources Inc.)

Used Material. (i) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used (A) Used Material furnished transferred by either Participant the Manager or a Member shall be priced at seventy-five percent (75%) % of the New PricePrice for such Material; B. used (B) Used Material distributed to either Participant Member shall be priced (i1) at seventy-five percent (75%) % of the New Price for such Material, if such Material was originally charged to the Business Account as new Material, or (ii2) at sixty-five percent (65%) % of the New Price for such Material if such Material was originally charged to the Business Account as good used Material at seventy-five percent (75%) % of the New Price. (ii) Other used Material that, after reconditioning, reconditioning will be further serviceable for original function as good secondhand Material, or that is serviceable for original function but not substantially suitable for reconditioning, shall be priced at fifty percent (50%) % of the New PricePrice for such Material. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices. Material no longer suitable for its original purpose but usable for some other purpose shall be priced on a basis comparable with items normally used for such other purposes.

Appears in 3 contracts

Sources: Limited Liability Company Agreement (Snow Lake Resources Ltd.), Limited Liability Company Agreement (Contango ORE, Inc.), Limited Liability Company Agreement

Used Material. (i) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used (A) Used Material furnished by either Participant shall be priced at seventy-five percent (75%) of the New Price; B. used (B) Used Material distributed to either Participant shall be priced (i) at seventy-five percent (75%) of the New Price if such Material was originally charged to the Business Account as new Material, or (ii) at sixty-five percent (65%) of the New Price if such Material was originally charged to the Business Account as good used Material at seventy-five percent (75%) of the New Price. (ii) Other used Material that, after reconditioning, will be further serviceable for original function as good secondhand Material, or that is serviceable for original function but not substantially suitable for reconditioning, shall be priced at fifty percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices.

Appears in 3 contracts

Sources: Exploration, Development and Mine Operating Agreement (Miranda Gold Corp), Agreement (Golden Phoenix Minerals Inc /Mn/), Agreement (Gryphon Gold Corp)

Used Material. (i) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used (A) Used Material furnished by either Participant Member shall be priced at seventy-five percent (75%) of the New Price; B. used (B) Used Material distributed to either Participant Member shall be priced (i) at seventy-five percent (75%) of the New Price if such Material was originally charged to the Business Account as new Material, or (ii) at sixty-five percent (65%) of the New Price if such Material was originally charged to the Business Account as good used Material at seventy-five percent (75%) of the New Price. (ii) Other used Material that, after reconditioning, will be further serviceable for original function as good secondhand Material, or that is serviceable for original function but not substantially suitable for reconditioning, shall be priced at fifty percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices.

Appears in 2 contracts

Sources: Members’ Agreement (Thunder Mountain Gold Inc), Operating Agreement (Golden Phoenix Minerals Inc)

Used Material. (i1) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used (a) Used Material furnished by either Participant a Member shall be priced at seventy-five percent (75%) of the New Price; B. used (b) Used Material distributed to either Participant a Member shall be priced (i1) at seventy-five percent (75%) of the New Price if such Material was originally charged to the Business Account as new Material, or (ii2) at sixty-five percent (65%) of the New Price if such Material was originally charged to the Business Account as good used Material at seventy-five percent (75%) of the New Price. (ii2) Other used Material that, after reconditioning, will be further serviceable for original function as good secondhand Material, or that is serviceable for original function but not substantially suitable for reconditioning, shall be priced at fifty percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee. (iii3) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv4) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices.

Appears in 2 contracts

Sources: Joint Venture Agreement (Vista Gold Corp), Operating Agreement (Western Goldfields Inc)

Used Material. (i) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used (A) Used Material furnished by either Participant Member shall be priced at seventy-five percent (75%) of the New Price; B. used (B) Used Material distributed to either Participant Member shall be priced (i) at seventy-five percent (75%) of the New Price Price, if such Material was originally charged to the Business Account as new New Material, or (ii) at sixty-five percent (65%) of the New Price Price, if such Material was originally charged to the Business Account as good used Used Material at seventy-five percent (75%) of the New Price. (ii) Other used Material that, after reconditioning, will be further serviceable for its original function as good secondhand used Material, or that is serviceable for original function but not substantially suitable for reconditioning, shall be priced at fifty percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Bad Used Material which that is no longer usable for its original purpose without excessive repair cost but is further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All other Material, including but not limited to junk, shall be priced at a value commensurate with its use or at prevailing prices.

Appears in 2 contracts

Sources: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement (Uranium Energy Corp)

Used Material. (i1) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used i) Used Material furnished transferred by either the Operator or Participant shall be priced at seventy-five percent (75%) of the New Price; B. used ii) Used Material distributed transferred to either the Operator or Participant shall be priced (i) at seventy-five percent (75%) of the New Price if such Material was originally charged to the Business Joint Account as new Material, or (ii) at sixty-five percent (65%) of the New Price if such Material was originally charged to the Business Joint Account as good used Material at seventy-five percent (75%) of the New Price. (ii2) Other used Material thatwhich, after reconditioning, reconditioning will be further serviceable for original function as good secondhand Material, or that which is serviceable for original function but not substantially suitable for reconditioning, reconditioning shall be priced at fifty percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv3) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices. Material no longer suitable for its original purpose but usable for some other purpose shall be priced on a basis comparable with items normally used for such other purposes.

Appears in 1 contract

Sources: Joint Venture Agreement (Stirrup Creek Gold LTD)

Used Material. (i1) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used a) Used Material furnished transferred by either Participant the Manager shall be priced at seventy-five percent (75%) of the New Price; EXHIBIT B TO AMENDED AND RESTATED LLC AGREEMENT OF EUREKA MOLY, LLC; B. used b) Used Material distributed to either Participant Member shall be priced (i) at seventy-five percent (75%) of the New Price if such Material was originally charged to the Business Account as new Material, or (ii) at sixty-five percent (65%) of the New Price if such Material was originally charged to the Business Account as good used Material at seventy-five percent (75%) of the New Price. (ii2) Other used Material thatwhich, after reconditioning, reconditioning will be further serviceable for original function as good secondhand Material, or that which is serviceable for original function but not substantially suitable for reconditioning, reconditioning shall be priced at fifty percent (50%) of the New Price. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv3) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices. Material no longer suitable for its original purpose but usable for some other purpose shall be priced on a basis comparable with items normally used for such other purposes.

Appears in 1 contract

Sources: Limited Liability Company Agreement (General Moly, Inc)

Used Material. (i1) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used a) Used Material furnished transferred by either Participant the Manager or a Member shall be priced at seventy-five percent (75%) of the New Price; B. used b) Used Material distributed to either Participant Member shall be priced priced (i) at seventy-five percent (75%) of the New Price if such Material was originally charged to the Business Account as new Material, or (ii) at sixty-five percent (65%) of the New Price if such Material was originally charged to the Business Account as good used Material at seventy-five percent (75%) of the New Price. (ii2) Other used Material thatwhich, after reconditioning, reconditioning will be further serviceable for original function as good secondhand Material, or that which is serviceable for original function but not substantially suitable for reconditioning, reconditioning shall be priced at fifty 50 percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee.. note 14. 42 Environmental and Continuing Obligation provisions have been included from Form 5A LLC. See supra (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv3) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices. Material no longer suitable for its original purpose but usable for some other purpose shall be priced on a basis comparable with items normally used for such other purposes.

Appears in 1 contract

Sources: Limited Liability Company Agreement

Used Material. (i) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used (A) Used Material furnished by either Participant shall be priced at seventy-five percent (75%) % of the New Price; B. used (B) Used Material distributed to either Participant shall be priced (i) at seventy-five percent (75%) % of the New Price if such Material was originally charged to the Business Account as new Material, or (ii) at sixty-five percent (65%) % of the New Price if such Material was originally charged to the Business Account as good used Material at seventy-five percent (75%) % of the New Price. (ii) Other used Material that, after reconditioning, will be further serviceable for original function as good secondhand Material, or that is serviceable for original function but not substantially suitable for reconditioning, shall be priced at fifty percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices.

Appears in 1 contract

Sources: Exploration, Development and Mine Operating Agreement (Midway Gold Corp)

Used Material. (i) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used Used Material furnished transferred by either the Operator or Participant shall be priced at seventy-five percent (75%) of the New Price; B. used Used Material distributed transferred to either the Operator or Participant shall be priced (i) at seventy-five percent (75%) of the New Price if such Material was originally charged to the Business Joint Account as new Material, or (ii) at sixty-five percent (65%) of the New Price if such Material was originally charged to the Business Joint Account as good used Material at seventy-five percent (75%) of the New Price.; (ii) Other used Material thatwhich, after reconditioning, reconditioning will be further serviceable for original function as good secondhand Material, or that which is serviceable for original function but not substantially suitable for reconditioning, reconditioning shall be priced at fifty percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee.; (iii) Bad-Order All other Material. including junk, shall be priced at a value commensurate with its use or at prevailing prices. Material which is no longer usable suitable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All such other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices.purposes;

Appears in 1 contract

Sources: Joint Venture Agreement (Pacific Booker Minerals Inc.)

Used Material. (i) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used (A) Used Material furnished by either Participant shall be priced at seventy-five percent (75%) of the New Price; B. used (B) Used Material distributed to either Participant shall be priced (i) at seventy-five percent (75%) of the New Price if such Material was originally charged to the Business Account as an Additional Expenditure as new Material, or (ii) at sixty-five percent (65%) of the New Price if such Material was originally charged to the Business Account as an Additional Expenditure as good used Material at seventy-five percent (75%) of the New Price. (ii) Other used Material that, after reconditioning, will be further serviceable for original function as good secondhand Material, or that is serviceable for original function but not substantially suitable for reconditioning, shall be priced at fifty percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices.

Appears in 1 contract

Sources: Joint Exploration Agreement (Passport Potash Inc)

Used Material. (i) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used (A) Used Material furnished by either Participant shall be priced at seventy-five percent (75%) of the New Price; B. used (B) Used Material distributed to either Participant shall be priced (iI) at seventy-five percent (75%) of the New Price if such Material was originally charged to the Business Account as new Material, or (ii) at sixty-five percent (65%) of the New Price if such Material was originally charged to the Business Account as good used Material at seventy-five percent (75%) of the New Price. (ii) Other used Material finished by either Participant that, after reconditioning, will be further serviceable for original function as good secondhand Material, or that is serviceable for original function but not substantially suitable for reconditioning, shall be priced at fifty percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices.

Appears in 1 contract

Sources: Exploration, Development and Mine Operating Agreement (Thompson Creek Metals CO Inc.)

Used Material. (i) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used (a) Used Material furnished by either Participant shall be priced at seventy-five percent (75%) of the New Price; B. used (b) Used Material distributed to either Participant shall be priced (i) at seventy-five percent (75%) of the New Price if such Material was originally charged to the Business Account as new Material, or (ii) at sixty-five percent (65%) of the New Price if such Material was originally charged to the Business Account as good used Material at seventy-five percent (75%) of the New Price. (ii) Other used Material that, after reconditioning, will be further serviceable for original function as good secondhand Material, or that is serviceable for original function but not substantially suitable for reconditioning, shall be priced at fifty percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices.

Appears in 1 contract

Sources: Exploration, Development and Mine Operating Agreement (Canyon Resources Corp)

Used Material. (i) Used Material in sound and serviceable condition and -------------- suitable for reuse without reconditioning shall be priced as follows: A. used (A) Used Material furnished by either Participant Member shall be priced at seventy-five percent (75%) of the New Price; B. used ; (B) Used Material distributed to either Participant Member shall be priced (i) at seventy-five percent (75%) of the New Price if such Material was originally charged to the Business Account as new Material, or (ii) at sixty-five percent (65%) of the New Price if such Material was originally charged to the Business Account as good used Material at seventy-five percent (75%) of the New Price. (ii) Other used Material that, after reconditioning, will be further serviceable for original function as good secondhand Material, or that is serviceable for original function but not substantially suitable for reconditioning, shall be priced at fifty percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee. . (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices.

Appears in 1 contract

Sources: Members' Agreement (Battle Mountain Gold Exploration Corp.)

Used Material. (i) Used Material material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used Material furnished Used material transferred by either the Manager or Participant shall be priced at seventy-five percent (75%) of the New Price;; and B. used Material distributed Used material transferred to either the Manager or Participant shall be priced (i) either at seventy-five percent (75%) of the New Price if such Material material was originally charged to the Business Joint Account as new Materialmaterial, or (ii) at sixty-five percent (65%) of the New Price if such Material material was originally charged to the Business Joint Account as good used Material material at seventy-five percent (75%) of the New Price. (ii) Other used Material thatmaterial which, after reconditioning, reconditioning will be further serviceable for original function as good secondhand Materialmaterial, or that which is serviceable for original function but not substantially suitable for reconditioning, reconditioning shall be priced at fifty percent (50%) of the New Price. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All other Materialmaterial, including junk, shall be priced at a value commensurate with its use or at prevailing prices. Material no longer suitable for its original purpose but usable for some other purpose shall be proceed on a basis comparable with items normally used for such other purposes.

Appears in 1 contract

Sources: Mining Earn in and Joint Venture Agreement (Pan American Lithium Corp)

Used Material. (i) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used A) Used Material furnished transferred by either the Manager or Participant shall be priced at seventy-five percent (75%) of the New Pricereplacement cost or fair market value, whichever is lower; B. used B) Used Material distributed transferred to either the Manager or Participant shall be priced (i) at seventy-five percent (75%) of the New Price replacement cost or fair market value, whichever is lower, if such Material was originally charged to the Business Joint Account as new Material, or (ii) at sixty-five percent (65%) of the New Price replacement cost or fair market value, whichever is lower, if such Material was originally charged to the Business Joint Account as good used Material at seventy-five percent (75%) of the New PriceMaterial. (ii) Other used Material thatwhich, after reconditioning, reconditioning will be further serviceable for original function as good secondhand Material, or that which is serviceable for original function but not substantially suitable for reconditioning, reconditioning shall be priced at fifty percent (50%) of New Pricethe replacement cost or fair market value, whichever is lower. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing market prices, whichever is less. Material no longer suitable for its original purpose but usable for some other purpose shall be priced on a basis comparable with items normally used for such other purposes at fair market value.

Appears in 1 contract

Sources: Joint Venture Agreement (Sutcliffe Resources Ltd.)

Used Material. (i1) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used a) Used Material furnished transferred by either Participant the Manager or a Member shall be priced at seventy-five percent (75%) of the New Price; B. used b) Used Material distributed to either Participant Member shall be priced (i) at seventy-five percent (75%) of the New Price if such Material was originally charged to the Business Account as new Material, or (ii) at sixty-five percent (65%) of the New Price if such Material was originally charged to the Business Account as good used Material at seventy-five percent (75%) of the New Price. (ii2) Other used Material thatwhich, after reconditioning, reconditioning will be further serviceable for original function as good secondhand Material, or that which is serviceable for original function but not substantially suitable for reconditioning, reconditioning shall be priced at fifty 50 percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv3) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices. Material no longer suitable for its original purpose but usable for some other purpose shall be priced on a basis comparable with items normally used for such other purposes.

Appears in 1 contract

Sources: Operating Agreement (Solitario Exploration & Royalty Corp.)

Used Material. (i) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used (A) Used Material furnished transferred by either Participant the Manager or a Member shall be priced at seventy-five percent (75%) of the New Price;; EXHIBIT B – ACCOUNTING PROCEDURE: Page 5 B. used (B) Used Material distributed to either Participant Member shall be priced priced: (iI) at seventy-five percent (75%) of the New Price for such Material, if such Material was originally charged to the Business Account as new Material, ; or (iiII) at sixty-five percent (65%) of the New Price for such Material, if such Material was originally charged to the Business Account as good used Material at seventy-five percent (75%) of the New Price. (ii) Other used Material that, after reconditioning, reconditioning will be further serviceable for original function as good secondhand Material, or that is serviceable for original function but not substantially suitable for reconditioning, shall be priced at fifty percent (50%) of the New Price. The cost of any reconditioning shall be borne by the transferee, provided such total cost of the used Material plus the reconditioning cost does not exceed sixty-five percent (65%) of the New Price. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices. Material no longer suitable for its original purpose but usable for some other purpose shall be priced on a basis comparable with items normally used for such other purposes.

Appears in 1 contract

Sources: Operating Agreement (Gold Torrent Canada Inc)

Used Material. (i1) Used Material in sound and serviceable condition and suitable for reuse without reconditioning shall be priced as follows: A. used (a) Used Material furnished transferred by either the Manager or a Participant shall be priced at seventy-five percent (75%) of the New Price; B. used (b) Used Material distributed transferred to either the Manager or Participant shall be priced (i) at seventy-five percent (75%) of the New Price if such Material was originally charged to the Business Joint Account as new Material, or (ii) at sixty-five percent (65%) of the New Price if such Material was originally charged to the Business Joint Account as good used Material at seventy-five percent (75%) of the New Price. (ii2) Other used Material thatwhich, after reconditioning, reconditioning will be further serviceable for original function as good secondhand Material, or that which is serviceable for original function but not substantially suitable for reconditioning, reconditioning shall be priced at fifty 50 percent (50%) of New Price. The cost of any reconditioning shall be borne by the transferee. (iii) Bad-Order Material which is no longer usable for its original purpose without excessive repair cost but further usable for some other purpose shall be priced on a basis comparable with items normally used for that purpose. (iv3) All other Material, including junk, shall be priced at a value commensurate with its use or at prevailing prices. Material no longer suitable for its original purpose but usable for some other purpose shall be priced on a basis comparable with items normally used for such other purposes.

Appears in 1 contract

Sources: Mining Venture Agreement (Western Goldfields Inc)