Initial Contribution Period definition
Examples of Initial Contribution Period in a sentence
Although this MOU is intended to confirm the Contributions to be made by each Contributor to or for the benefit of PSN during the Initial Contribution Period, nothing contained in this MOU is intended or shall be construed as a limitation on the commitments or contributions that each Contributor may make to or for the benefit of PSN, whether during such period or thereafter.
In accordance with Section 3.2.2 of the Agreement, certain expenditures specified below shall not be chargeable to the Company Account during the Initial Contribution Period.
During the Initial Contribution Period, the Management Committee shall meet regularly so that the Manager can report on the status of Operations, but all decisions regarding the management of the Venture and the policies, objectives, procedures, methods and actions under this Agreement shall be made by the Manager.
Neither Member shall have any right to transfer its interest during the Initial Contribution Period except as provided in Section 16.4.
The cost of professional consultant services procured from outside sources shall not be charged to the Company Account unless approved by the Management Committee, except during the Initial Contribution Period.
Minera Andes shall be entitled to review Pegasus' title to the Property Pegasus has contributed to the Company during the Initial Contribution Period.
If Kennecott elects to defend title during the Initial Contribution Period, then all costs of defending title incurred during such period shall be borne by Kennecott and included in the Work Expenditures under Section 5.
Following the Initial Contribution Period, a Member may elect to withdraw from this Company by giving notice to the other Member of the effective date of withdrawal, which shall be the later of the end of the then current Program and Budget or at least 30 days after the date of the notice.
After the end of the Initial Contribution Period, the Operator shall submit to each Member, prior to the last day of each month, a billing for estimated cash requirements for the next month.
Prior to the expiration of the Initial Contribution Period, the Property and Assets contributed to the Company may be held in the name of the contributing Member but shall be held in trust for the benefit of the Company.