Commonwealth Resources definition
Examples of Commonwealth Resources in a sentence
On or about May 24, 2010, Grant Hartford Corporation and Commonwealth Resources, L.L.C. executed a Share Purchase Agreement, by which Grant Hartford Corporation agreed to issue 5,000,000 of its common shares to Commonwealth in return for the sale to Grant Hartford by Commonwealth of eight prospecting leases on BLM-owned mining claims and ninety-three (93) unpatented mining claims.
To the extent that any interfaces need to be developed or modified in order for the Provided Resources to integrate fully and successfully, and be compatible, with the Commonwealth Resources, Vendor shall be responsible for the development or modification of such interfaces and for such integration, and all such activities shall be deemed to be Services within the scope of this Agreement.
In order to avoid default, Grant Hartford shall complete the following material terms: Pay an annual option payment of $190,000 to Commonwealth Resources, L.L.C. on June 15 of each calendar year until June 15, 2011, on which date the option payment increases to $400,000 for the final two-year period.
Grant Hartford will hold Commonwealth Resources, L.L.C. harmless from and indemnify it for all costs of rehabilitation or reclamation of the property.
If said cure is not completed within the thirty (30) day time period, Commonwealth Resources, L.L.C. may reenter the property, take possession and cancel the Lease, whereby ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ forfeits all rents paid and is responsible for any damages suffered by Commonwealth Resources, L.L.C. as a result of the default.
In the event Commonwealth Resources, L.L.C.'s title is deficient, Grant Hartford may remedy the deficiency and deduct the costs and related expenses of said deficiency from the final purchase price of the Garnet Mining District mineral deeds.
Vendor shall be the Commonwealth’s representative for the purpose of, and Vendor will be responsible for, managing the Commonwealth Resources and coordinating necessary activities of the Commonwealth, and its third-party service-providers, to the extent necessary and appropriate to ensure that the Provided Resources are successfully integrated and interfaced with, and compatible with, the Commonwealth Resources.
In the event Grant Hartford fails to pay all taxes and assessments and perform all work on the subject claims; Commonwealth Resources, L.L.C. shall have the right, without notice, to make payments or perform the work required.
The following are the material terms of the purchase agreement of the subject mining claim: Commonwealth Resources, L.L.C. shall give its notice of intention to purchase the mineral claim within seven (7) years from March 29, 2007.
Grant Hartford shall hold Commonwealth Resources, L.L.C. harmless from liability damages or claims of damages and Grant Hartford must carry suitable liability insurance.