Cerro Quema definition
Examples of Cerro Quema in a sentence
The Borrower shall not drawdown credit for the purpose of, directly or indirectly, paying any principal amount of Indebtedness owing under or in respect of the Cerro Quema Project Debt Guarantee or the Cerro Quema Project Financing.
The Borrower shall not drawdown credit under either Credit Facility for the purpose of paying, directly or indirectly, any principal amount of Indebtedness owing in respect of the Cerro Quema Project Financing or the Cerro Quema Project Guarantee.
No Person has any proprietary or possessory interest in such mining properties other than ▇▇▇▇▇▇ Cerro Quema and subject only to the rights of any Governmental Authority having jurisdiction and as described in Schedule B attached hereto, no Person is entitled to any royalty or other payment in the nature of rent or royalty on any minerals, metals or concentrates or any other such products removed or produced from such mining properties.
Notwithstanding anything to the contrary herein or in any other Finance Document, Cerro Quema (and any Cerro Quema Affiliate that may become a Material Subsidiary after the Closing Date) shall cease to be a Material Subsidiary, Guarantor and Obligor, and the provisions of this agreement and each other Finance Document shall cease to apply to Cerro Quema and each such Cerro Quema Affiliate, concurrent with closing of the Cerro Quema Project Financing.
At the Closing Time, the Buyer and the Seller shall enter into an assignment and assumption agreement, in form and substance satisfactory to the Parties, acting reasonably, pursuant to which the Seller shall assign to the Buyer, and the Buyer shall assume from the Seller, all of the Seller’s obligations and liabilities under and pursuant to the Cerro Quema Escrow Agreement.
The Escrowed Shares are being held in escrow pursuant to the Cerro Quema Escrow Agreement, pursuant to which the Escrowed Shares will be transferred to RNC Panama in the event that part or all of the properties that comprise the Cerro Quema Project are put into production by February, 2007.
No Person other than the Buyer has any oral or written agreement, option, right, privilege or any other right capable of becoming any of the foregoing (whether legal, equitable, contractual or otherwise) for the purchase of the Purchased Securities or the ▇▇▇▇▇▇ Cerro Quema Shares and none of the Purchased Securities or the ▇▇▇▇▇▇ Cerro Quema Shares is subject to any of the foregoing.
Yukon Gold shall have a right of entry into the Cerro Quema Project during the entirety of the Due Diligence Period upon reasonable notice to Bellhaven.
In each such policy with respect to the Obligors (other than Cerro Quema), the Borrower shall cause the Administrative Agent to be named as secured party or mortgagee and lender’s loss payee in respect of property insurance and as additional insured in respect of liability insurance in a manner acceptable to the Administrative Agent, acting reasonably.
The ▇▇▇▇▇▇ Cerro Quema Shares constitute 60% of the issued and outstanding securities of ▇▇▇▇▇▇ Cerro Quema.