Exploration Expenditures definition
Exploration Expenditures means all costs and expenses for Exploration and the related portion of indirect expenses and overheads.
Exploration Expenditures means the sum of all costs of acquisition and maintenance of the Property, all exploration and development expenditures and all other costs and expenses of whatsoever kind or nature including those of a capital nature, incurred or chargeable by KRC with respect to the exploration and development of the Property and the placing of the Property into Commercial Production.
Exploration Expenditures means the sum of:
(i) all costs of acquisition and maintenance of the Property, all expenditures on the exploration and development of the Property, and all other costs and expenses of whatsoever kind or nature, including those of a capital nature, incurred or chargeable by the Optionee with respect to the exploration of the Property, and
(ii) as compensation for general overhead expenses which the Optionee may incur, an amount equal to 10% of all amounts included in subparagraph (i) in each year but only 5% of such amounts when paid by the Optionee under any contract involving payments by it in excess of $100,000 in one year;
Examples of Exploration Expenditures in a sentence
The obligations of Ero in this Agreement, including the funding of the Exploration Expenditures required to be funded pursuant to the Earn-in Requirements are subject to events of force majeure pursuant to Section 9.02.
To the extent that ▇▇▇ commenced work on a Baseline Study prior to the Effective Date, any expenses and costs funded by Ero prior to the Effective Date will be deemed to have been incurred as Exploration Expenditures during the Earn-in Period for the purposes of this Agreement.
All costs and expenses related to the completion of a Baseline Study hereunder shall be for ▇▇▇’s sole account and all such costs shall be deemed Exploration Expenditures whether incurred before or after the Effective Date.
The Operator shall also promptly notify the Technical Committee of any such emergency or unexpected Exploration Expenditures that have been made or taken or that must be made or taken, and the funds necessary to pay for such emergency and unexpected Exploration Expenditures shall be added, and deemed approved, to the current approved Work Program.
The Operator may also incur reasonable Exploration Expenditures for unexpected events that are beyond the Operator’s reasonable control and do not result from a breach by it of its standard of care as described in Section 4.03(2)(c).
More Definitions of Exploration Expenditures
Exploration Expenditures means the sum of:
Exploration Expenditures means those expenditures described in Article 2.2 of the Accounting Procedure attached hereto as Annex C.
Exploration Expenditures means means all costs and expenses, however denominated, incurred by the Optionee or its Affiliates on or in connection with the exploration and development of the Property, including:
Exploration Expenditures means costs, outlays, expenditures, expenses, obligations and liabilities of whatever kind or nature reasonably and properly spent or incurred by or on behalf of the Operator after the Effective Date in carrying out Operations and before the Effective Date in accordance with Section 4.04. Exploration Expenditures shall include all costs and expenses incurred and monies expended pursuant to the following: (a) in doing geophysical, geochemical, land or geological examinations and surveys on the Mineral Properties; (b) in connection with any Work Program of surface or underground prospecting, exploring, drilling, assaying or metallurgical testing; (c) in conducting environmental or cultural resource studies and otherwise in complying with the requirements of Environmental Law; (d) in preparing submissions to any Governmental Authority with respect to all required permits, licenses and approvals (including required exploration plans and consultation); (e) in paying wages and salaries of Persons directly engaged in performing a Work Program on, and solely in respect of, the Mineral Properties; (f) to maintain the Mineral Properties in good standing under applicable legislation and the terms of the Mineral Rights; (g) carrying out mineral, soil, water, or other testing; (h) in preparing engineering, geological or environmental studies and/or reports and test work related thereto; (i) accounting, legal and administration costs in relation to the maintenance of the Mineral Properties and the conduct of Operations; (j) in supplying food, lodging and other reasonable needs for personnel; (k) reasonable travelling expenses of all Persons engaged in Operations with respect to and for the benefit of the Mineral Properties, including for their food, lodging and other reasonable needs; (l) payments to contractors or consultants for work done, services rendered or materials supplied; (m) the costs of insurance premiums and performance bonds or other security including necessary financial assurance for reclamation obligations; and (n) in carrying out any requirements or prerequisites in order to obtain all necessary or appropriate approvals, permits, consents or permissions relating to the carrying out of Work Programs, including, without limitation, environmental or cultural resource evaluations, permits, approvals or consents; provided, for greater certainty, only costs and expenses incurred by, and monies expended by ▇▇▇ or contractors hired by ▇▇▇ shall be Exploration ...
Exploration Expenditures means those charges described in Article IV.
Exploration Expenditures means the sum of:
(i) all costs of acquisition and maintenance of the Property, all exploration and development expenditures and all other costs and expenses of whatsoever kind or nature including those of a capital nature, incurred or chargeable by the Optionee with respect to the exploration and development of the Property and the placing of the Property into commercial production, and
(ii) as compensation for general overhead expenses which the Optionee will incur, an amount equal to 10% of all amounts included in subparagraph (i) in each year except costs of fixed assets and costs and expenditures paid by the Optionee under any contract involving payments by it in excess of $100,000 in the year, and 5% of all other amounts included in subparagraph (i) in each year;
Exploration Expenditures means all costs and expenses paid for Exploration Operations during the Exploration Period or afterward pursuant to Sub-article 3.5 as determined in accordance with the Accounting Procedure.