Common use of Work Expenditures Clause in Contracts

Work Expenditures. During the Lease Term, until terminated by Company under Section 6 or until the Purchase Option is exercised under Section 7, Company shall make work expenditures ("Work Expenditures") on or for the benefit of the Property in the following amounts: A. The sum of $100,000 on or before October 31, 2005. This is a firm commitment. If Company fails to perform the total amount of such Work Expenditures; Company shall pay Claimholder the deficiency in immediately available funds. B. The sum of $100,000 on or before October 31, 2006. C. The sum of $100,000 on or before October 31 of each year thereafter.

Work Expenditures. During the Lease Term, until terminated by Company under Section 6 or until the Purchase Option is exercised under Section 7, Company shall make work expenditures ("Work Expenditures") on or for the benefit of the Property in the following amounts: A. The sum of $100,000 on or before October 31June 30, 20052006. This is a firm commitment. If Company fails to perform the total amount of such Work Expenditures; , Company shall pay Claimholder the deficiency in immediately available funds. B. The sum of $100,000 on or before October 31June 30, 20062007. C. The sum of $100,000 on or before October 31 June 30 of each year thereafter.

Work Expenditures. During the Lease Term, until terminated by Company under Section 6 or until the Purchase Option is exercised under Section 7, Company shall make work expenditures ("Work Expenditures") on or for the benefit of the Property in the following amounts: A. The sum of $100,000 on or before October December 31, 20052006. This is a firm commitment. If Company fails to perform the total amount of such Work Expenditures; , Company shall pay Claimholder the deficiency in immediately available funds. B. The sum of $100,000 on or before October 31September 30, 20062007. C. The sum of $100,000 on or before October 31 September 30 of each year thereafter.