Vancan definition

Vancan is defined in the Recitals.
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Examples of Vancan in a sentence

  • Schedule 2.2(c) sets forth the allocation of the Total Purchase Price between the Vitro-American Shares and the Vancan Shares (which includes an allocation of each of the Measurement Date Indebtedness, the Measurement Date Unfunded Liabilities, the Measurement Date Extraordinary Liabilities and the Measurement Date Tax Liabilities for each Acquired Company).

  • Should Vancan, in its sole discretion, determine that the Claims no longer warrant further exploration and development, then, subject to paragraph 17.2, Vancan may abandon the Claims, so long as Vancan provides Zazu with 30 days notice of its intention to do so.

  • Zazu hereby gives and grants to Vancan the sole and exclusive right and option (the "Option") to acquire a l00% undivided right, title and interest in and to Zazu’s rights pursuant to the Lease Agreement, subject to a 1% net smelter returns royalty in favour of Zazu and an additional net smelter returns royalty in favour of GCO as determined in accordance with paragraph 7.01 of the Lease Agreement, by performing the acts and deeds and paying the sums provided for in paragraph 4.

  • As part of this requirement, by April 21 of each calendar year, Vancan shall deposit into escrow with a mutually acceptable escrow agent, funds sufficient to cover all exploration expenditure commitments for the balance of the year as detailed in paragraph 5.01 of the Lease Agreement.

  • At such time as Vancan has made the required share issuances and cash payment in accordance with paragraph 4.1 herein, within the time periods specified therein, and provided that the Lease Agreement is in good standing, then the Option shall be deemed to have been exercised by Vancan, and Vancan shall have thereby, without any further act, acquired an undivided 100% interest in and to the Claims.

  • Upon the request of Vancan and at Vancan’s expense, Zazu shall assist Vancan to record this Agreement with the appropriate mining recorder and, when required, Zazu shall further provide Vancan with such recordable documents as Vancan and its counsel shall require to record its due interest in respect of the Claims.

  • Upon the exercise of the Option, Zazu shall assign its entire rights and obligations in the Lease Agreement to Vancan.