Continental Exploration Program definition
Examples of Continental Exploration Program in a sentence
Failure to provide comments or modifications shall not preclude a Director from voting for or against the adoption of a Continental Exploration Program.
In the event that the Board approves the Continental Exploration Program with the exception of the budget items relating to services to be rendered by a Shareholder or its Affiliates to the Company or a Group Company, the CEO will be entitled to continue the operations of the Company in accordance with such Continental Exploration Program excluding the unapproved budget items and the Shareholders will meet to resolve the outstanding budgetary items.
Any amounts so invested shall be first used to fund expenditure under a subsequent Continental Exploration Program.
In the event that the budgeted expenditure for a Continental Exploration Program is less than US$1,000,000, then the shortfall shall nonetheless be budgeted for and Continental shall in any case invest no less than US$1,000,000 in Ordinary Shares of the Company except in the event where there is an Excess Amount in which event the amount invested by Continual shall be no less than the difference between US$1,000,000 and the Excess Amount.
Until such time that the Shareholders resolve the outstanding budgetary items, the CEO shall be entitled to incur expenditures for those items up to the limit approved for those items under the previous Continental Exploration Program having been approved by the Board.
The progress of each Continental Exploration Program and each CTVH Exploration Program adopted by the Board shall be reviewed at least quarterly at meetings of the Board.
The Board shall give its written notice to all Shareholders as to whether it has approved or rejected the Continental Exploration Program.
Directors expenses incurred shall form part of the expenditure in terms of the Continental Exploration Program or CTVH Exploration Program (as the case may be).
During the period that the Company operates under either a Continental Exploration Program or a CTVH Exploration Program (as the case may be), the Continental Exploration Program or a CTVH Exploration Program (as the case may be) shall be the deemed to be the Tianyuan Annual Budget.
During the period that the Company operates under either a Continental Exploration Program or a CTVH Exploration Program (as the case may be), the Continental Exploration Program or a CTVH Exploration Program (as the case may be) shall be the deemed to be the Tian Yuan Annual Budget.