Initial Expenditure definition

Initial Expenditure means all costs relating, to the Kenex Model, data and exploration program in an agreed amount of Rials 15,000 (Omani Rials Fifteen Thousand) and an amount equal to 50% (fifty percent) of the land lease rental from October 2009 to June 2010 in connection with the Exploration Area being Rials 14,437,490 (Omani Rials Fourteen Thousand Four Hundred and Thirty-Seven and Four Hundred and Ninety Baisas);
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Initial Expenditure means an amount not less than $5,000,000, consisting of funds of the Borrower other than proceeds of the Loan, expended to pay Project Costs.
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Examples of Initial Expenditure in a sentence

  • For illustration purposes only, assume that within 30 days after the Actual Commencement Date, 4MCA delivers documentation to MTVA which demonstrates that the aggregate actual documented costs of the Initial Equipment, Installation and Wiring Expenditures total * * * resulting in a decrease of * Dollars * from the Initial Expenditure Budget.

  • The Initial Funding Amount must be expended by the County not later than the Initial Expenditure Date.

  • It is also agreed that these costs are expressly excluded from Initial Expenditure and Further Expenditure.

  • MAN-CAM has commissioned Mr Bot Gabor to carry out a geological report ("Geological Report") which shall be used to determine the proposed initial expenditure of $500,000 (" Initial Expenditure") and activities for the Andgong Bor joint venture.

  • To enable the County to expend the Initial Funding Amount by the Initial Expenditure Date, Borrower shall satisfy the conditions set forth in Section 2.5 not later than June 15, 2023.

  • Initial Expenditure is to be $1 million within the first year of the Earn-In Period.

  • In order to earn a 51% interest in the Exploration Area (Phase One), MAN-CAM is required to incur an Initial Expenditure of five hundred thousand US dollars (US$500,000) (exclusive of Joint Venture Administrative Expenses (as defined in Clause 7 below)) on the Exploration Area pursuant to the Geological Report and in any event no later than 30th June 2009.

  • Subject to incurring the Initial Expenditure Amount and making the Initial Option Share Payment and in addition to any other termination provisions contained in this Agreement, the Optionees will at any time have the right to terminate this Agreement without liability therefor by giving sixty (60) days’ written notice of such termination to the Optionors, and in the event of such termination this Agreement, subject to the Termination Obligations, will be of no further force and effect.

  • In the event MAN-CAM fails to promptly incur the Phase One Initial Expenditure in accordance with the Geological Report or by 30th June 2009 (whichever is earlier), MAN-CAM shall forfeit its right to earn a 51% interest and shall be deemed to have withdrawn from the Andong Bor Joint Venture Agreement, retaining no interest in the Exploration Area.

  • DYL to incur and pay for exploration activity expenditure on the Isa West Tenements of at least $10 million during the four year Earn-In Period including but not limited to ground-based mapping, sampling, geophysical surveys, drilling and any other work of a technical and commercial nature deemed necessary to fully evaluate the Isa West Tenements (including incurring and spending the Initial Expenditure of $1 million within the first year of the Earn-in Period).