Foremost definition
Examples of Foremost in a sentence
If payment will be made in Common Shares, (i) Foremost shall provide prior written notice to ▇▇▇▇▇▇▇ of such election, and (ii) the deemed value of any Common Shares issued as additional consideration will be equal to the VWAP for the period immediately prior to the date of such notice to pay in Common Shares (or the Canadian dollar equivalent, as applicable).
If Foremost is the Party subject to such Insolvency Event, Foremost shall have no further right to exercise any other portion of the Option.
Subject to any applicable terms of the Hatchet Lake Joint Venture Agreement, Foremost shall be entitled, during any year of the Option Period and notwithstanding the activities and budget set forth in the applicable Annual Exploration Plan, to reallocate up to 20% of authorized expenditures in relation to the proposed exploration program in a commercially reasonable manner to address changed circumstances upon prior written notice to the Technical Committee.
If, during Operations the Technical Committee for any reason fails to approve an Annual Exploration Plan in a timely manner, Foremost shall continue Operations sufficient to maintain the Properties, including the performance of the duties imposed on the operator pursuant to this Agreement.
Foremost has been duly formed and is validly existing under the laws of its jurisdiction of incorporation and has all requisite corporate power and authority to enter into and deliver this Agreement and to perform its obligations under this Agreement.
Foremost shall reimburse ▇▇▇▇▇▇▇ for all payments made to governmental authorities during the Option Period in order to keep the Mineral Dispositions in good standing.
Any such payments by Foremost shall be Expenditures for the purposes of this Agreement.
The execution and delivery by Foremost and the performance by it of its obligations under, and compliance with the terms, conditions and provisions of, this Agreement will not conflict with or result in a breach of: (i) its constitutional documents, (ii) any applicable Law, rule or regulation, (iii) any agreement or instrument to which it is a party or by which it is bound or by which any of its properties or assets are bound, or (iv) any judgment, injunction, determination or award which is binding on it.
This Agreement has been duly executed and delivered by Foremost and constitutes a legal, valid and binding obligation of it enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization and other laws of general application limiting the enforcement of creditors’ rights generally and to the fact that specific performance is an equitable remedy available only in the discretion of the court.
Foremost shall deliver a copy of the proposed Annual Exploration Plan to ▇▇▇▇▇▇▇ and the Technical Committee on or before the date which is sixty (60) days prior to the date on which the Operator intends to begin such program, unless the Parties agree otherwise in writing, and concurrently therewith deliver notice of a Technical Committee meeting to consider and approve the Annual Exploration Plan.