De Beers definition
Examples of De Beers in a sentence
From and after the Prime Rate Date, the MPV Allowable Expenses and the Funded Expenses and shall be subject to interest at a variable rate per annum equal on each day to LIBOR as then in effect plus 4% compounded annually both before and after default and judgement until all MPV Expenses are repaid by MPV to De Beers in accordance with Section 11.3 of this Agreement and such repayment of the MPV Expenses shall be secured solely in the manner provided in Sections 10.2 and 11.3 of this Agreement..
Any Agreement with the Hired Persons shall provide that if MPV fails to pay to the Hired Persons the costs and expenses related to the 2009 Feasibility Study when such amounts become due and payable, De Beers may terminate, or may cause the Operator to terminate, in each case without prior written notice and without consultation with MPV, such agreements and the Hired Persons recourse for unpaid costs and expenses shall be solely against MPV.
Other than any disputes set out in the Mountain Disclosure Letter (i) there is no dispute in connection with any Project Document to which Mountain or 2435386 is a party; and (ii) to the knowledge of Mountain, there is no dispute in connection with any Project Document to which De Beers is a party.
The GSS (International) Compliance Criteria are as follows: BPPs/Probity (i) Full, unqualified compliance with the De Beers Best Practice Principles and participation in the associated Assurance Programme; and (ii) Applicant declaration of probity; and (iii) Key Individual declarations of probity.
Notwithstanding, Sections 11.3(a), (c), (d), (e) and (f), MPV may at any time and from time to time repay to De Beers such outstanding MPV Expenses in whole or in part, any such payments shall reduce the principal amount of the MPV Expenses by a corresponding amount.
MPV shall hold the title to its Participating Interest as Trustee for and on behalf of itself and CV as members of the MPV Group as a single Participating Interest and shall be entitled to hold, deal with and dispose of such Participating Interest and all rights and benefits relating thereto, in accordance with this Agreement, on behalf of MPV and CV as MPV may in its sole discretion decide without De Beers having to obtain any consent, approval or authorization from CV.
From the Commencement of Commercial Production, such management fee in respect of Production will be renegotiated in good faith it being understood that except with respect to any participation by De Beers in the 2009 Feasibility Study, the Operator is neither to make a profit nor to suffer a loss in performing its duties.
It is hereby acknowledged and agreed that in no event shall De Beers be required to expertise or be otherwise responsible or liable for, in whole or in part, such 2009 Feasibility Study.
It is agreed between the parties hereto that, subject to this Article 5, the initial Operator shall be De Beers.
De Beers shall have no responsibility or liability for any environmental pollution on or damage to the Property existing as at March 6, 1997 and prior thereto and the MPV Group hereby agrees to indemnify and save De Beers fully harmless from any obligation or liability arising from such environmental pollution or damage to the Property.