Exploration Agreements definition
Examples of Exploration Agreements in a sentence
The Parties recognize that the termination of the AMI hereunder will not act to terminate the Geophysical Exploration Agreements executed by the Parties for previously designated Project Areas as set forth in Section 3.2 below or the separate areas of mutual interest established under such Geophysical Exploration Agreements.
The reserved overriding royalty interests shall never apply to or burden any interests that are assigned to Burlington, its successors and assigns, by Pannonian pursuant to the requirements of any of the Burlington Exploration Agreements.
On or before _________ of each year, beginning _____________, 19___, each of the Transferor and the Depositor, at its expense, shall deliver to the Trustee and the Credit Enhancer the applicable Opinion of Counsel specified in Exhibit E hereto.
The Parties acknowledge that there are certain Hazardous Substances on, at, or under the Property which are in excess of the Indiana Department of Environmental Management’s (“IDEM”) clean-up criteria or screening levels (“Existing Environmental Conditions”), as described in the Phase I and the Environmental Reports.
Those agreements are listed on Exhibit G attached hereto and shall be referred to herein as the "Exploration Agreements".
If this Agreement is terminated and Magellan Mexico does not acquire the Property, Magellan Mexico shall reclaim the Property, to the extent disturbed by Magellan Mexico during the Development Period, in accordance with applicable Laws and the terms and conditions of the Exploration Agreements.
Payor acknowledges and agrees that if it exercises either or both of the options to purchase the Concessions under the Exploration Agreements, this Royalty Agreement shall remain in full force and effect.
For greater certainty, upon the exercise of Third Option, CRL shall hold an aggregate one hundred percent (100%) of all rights and interests held by BHBP under each and all of the Exploration Agreements.
During the Development Period, Magellan Mexico shall timely pay to the appropriate governmental authority all Governmental Fees required to maintain the Concessions, shall timely and properly perform all assessment work required to maintain the Concessions, and shall timely file proof of performance thereof with the appropriate governmental authority, all as required by applicable Laws and in accordance with the terms and conditions of the Exploration Agreements.
All federal, state and local excise, property and other taxes and assessments pertaining to or assessed against the Property which GMC Mexico is required to pay pursuant to the Exploration Agreements have been timely and properly paid.