WORK COMMITMENTS Sample Clauses
WORK COMMITMENTS. Company agrees to fund certain work commitments and incur claim maintenance expenses sufficient to maintain any and all unpatented mining claims which comprise the Premises. Work commitments shall include, but not be limited to, all salaries and wages (and related benefits) of Company employees (permanent or temporary) engaged in and working for the benefit of Company on the Premises, costs of electric power and other fuels consumed in operations, costs of transportation of employees (permanent or temporary) and material necessary for operations, costs and expenses necessary for repair or replacement of property utilized for operations, payments to contractors (including legal and accounting fees) required for operations, cost of expenditures or contributions made by Company pursuant to assessments imposed by governmental authorities, insurance premiums for insurance required by this Agreement, title investigation and curative costs incurred in accordance with Article VII, costs of all taxes paid by Company in accordance with Article VIII below, and costs of all materials and supplies. Company shall submit to Lessor by October 30 of each year for which such work shall have been performed, accountings of all expenditures made by Company in compliance with its obligation to perform the above-referenced work commitments.
WORK COMMITMENTS. Unless this Agreement is terminated as provided herein, the following Allowable Expenditures will be incurred or funded by Zebra on or before the end of the following respective Years: Year Allowable Expenditures ---- ---------------------- Year 1 $150,000 Year 2 $200,000 Year 3 $250,000 Year 4 $300,000 Year 5 $350,000 ARTICLE V MINING OPERATION
WORK COMMITMENTS. (a) Before the seventh anniversary of the effective date of the lease, the lessee shall complete, suspend, or plug and abandon one well that has penetrated to the base of the Kuparuk C interval as observed as the LCU correlative stratigraphic surface seen in the Hemi Springs State 1 well (API No. 50-02921056-00-00) at 7,256 feet measured depth.
(b) The lessee shall submit well data, to include at a minimum a mudlog, gamma ray log, resistivity log, and porosity log, before the seventh anniversary of the effective date of the lease, to substantiate adherence to the work commitment terms. Data must be submitted according to the instructions set out in Attachment 1
(c) The work commitment will be considered met if the lessee completes the work as described in (a) and (b) of this paragraph on any of ADLs 393730, 393731, 393732, 393733, 393734, 393735, 393736, 393737, 393738, 393739, 393740, or 393741.
(d) If the lessee fails to meet the work commitment set out in this paragraph, this lease will automatically terminate as provided under 11 AAC 83.700 - 11 AAC 83.705
WORK COMMITMENTS. La Teko shall diligently, in good faith, and in a good workmanlike manner, begin to or prosecute Exploration, Development and Mining on the Property. La Teko shall perform the following amounts of work in connection with and in furtherance of the exploration, development or Mining of the Property Lease Year Amount ,~ During Lease Year 1 $ 500,000 During Lease Year 2 $ 750,000 During Lease Year 3 $1,000,000 During Lease Year 4 $1,250,000 During Lease Years and $1,500,000 each succeeding lease year La Teko shall have the right to carry forward excess Costs spent in any one year and apply those excess Costs towards the next year's Work Commitment due; provided, however, that La Teko shall expend no less than 20% of the Work Commitment for any one year in which La Teko carries forward excess Costs. Should La Teko fail to expend the above sums on or for the benefit of the Property on or before the due dates for such expenditures, in order to maintain this Agreement in good standing, La Teko shall pay to the University, within 10 days after the anniversary date of this Agreement, the difference between the amount due and the amount expended on or for the benefit of the Property for the applicable period. Pursuant to Article 14, the University may terminate this Agreement for La Teko's failure to expend the above referenced Work Commitment amounts or to make payment to the University in lieu thereof within the time periods specified above
WORK COMMITMENTS. 4.01 The CONTRACTOR shall fulfill the following work commitments under the POD:
a. Appraisal activities consisting of (appraisal activities with timeline) with a minimum expenditure equivalent of (amount in words) United State Dollars (US$ .00).
b. Development activities consisting of (development activities with timeline) with a minimum expenditure equivalent of (amount in words) United State Dollars (US$ .00).
4.02 Should the CONTRACTOR find that the approved POD needs to be updated as a result of the appraisal activities, the CONTRACTOR shall submit a revised POD for the DEPARTMENT’s approval.
4.03 Should the CONTRACTOR find that the field is uneconomical based on the result of the appraisal activities, the CONTRACTOR may relinquish the Contract to the DEPARTMENT.
4.04 Should the CONTRACTOR fail to declare commerciality at the end of the period specified in the approved POD, this Contract will be automatically terminated.
4.05 If the CONTRACTOR fails to comply with the work commitments under Section 4.01 of this Contract, it shall pay to the GOVERNMENT the amount it should have spent but did not in direct execution of its work commitments.
WORK COMMITMENTS. During the Initial Term hereof, Lessee shall complete the following work expenditures upon, towards or for the eventual benefit of the Property: · $200,000 in expenditures by the third anniversary of the Effective Date (on or by September 12, 2015) · $300,000 in additional expenditures by the sixth anniversary of the Effective Date (on or by September 12, 2018) · $400,000 in additional expenditures for each consecutive three-year period that this Agreement remains in effect or until commercial production commences
WORK COMMITMENTS. There are no minimum annual work commitments on our part except that we will, for a period of 5 years from Closing, keep the Property in good standing including the payment of property holding costs. This 5 year period will be reduced in the event we return the Property pursuant to paragraph 5 below.
WORK COMMITMENTS. US Gold shall perform the following work commitments (the “Work Commitments”), totaling U.S. FIVE MILLION DOLLARS AND 00/100 CENTS (USD$5,000,000.00), to be completed on the schedule set forth below:
a. During the period commencing July 15, 2011, and ending July 14, 2012, (“Year 1”): US Gold to spend U.S. ONE MILLION DOLLARS AND 00/100 CENTS (USD$1,000,000.00) in expenditures (preparation and field work), including US Gold’s best efforts to complete 5,000 feet of core drilling, contingent upon the receipt of environmental permits, and the procurement of a suitable drilling rig and crew, and other considerations at US Gold’s sole discretion,
b. During the period commencing July 15, 2012, and ending July 14, 2013, (“Year 2”): US Gold to spend U.S. ONE MILLION TWO HUNDRED THOUSAND DOLLARS AND 00/100 CENTS (USD$1,200,000.00) in expenditures, and completion of additional core drilling for a cumulative total of 15,000 feet which is not contingent upon the receipt of environmental permits or procurement of a suitable drilling rig and crew and other consideration of US Gold;
c. During the period commencing July 15, 2013, and ending July 14, 2014, (“Year 3”): US Gold to spend U.S. ONE MILLION FOUR HUNDRED THOUSAND DOLLARS AND 00/100 CENTS (USD$1,400,000.00) in expenditures, and completion of additional core drilling for a cumulative total of 25,000 feet which is not contingent upon the receipt of environmental permits or procurement of a suitable drilling rig and crew and other consideration of US Gold; and
d. During the period commencing July 15, 2014, and ending July 14, 2015, (“Year 4”): US Gold to spend U.S. ONE MILLION FOUR HUNDRED THOUSAND DOLLARS AND 00/100 CENTS (USD$1,400,000.00) in expenditures, and completion of additional core drilling for a cumulative total of 30,000 feet which is not contingent upon the receipt of environmental permits or procurement of a suitable drilling rig and crew and other consideration of US Gold. Expenditures in excess of the annual Work Commitments may be carried over as a credit to reduce the following year’s Work Commitments. US Gold shall have the right to accelerate payment of the Option Payments and complete the Work Commitments on the Property prior to the end of Year 4. Option Payments shall not be credited against Work Commitments expenditures. In the event that US Gold shall have expended or drilled less than the minimum Work Commitment expenditures or drilling in any one year, on or before the applicable schedule de...
WORK COMMITMENTS. A. In the interest of (1) defining the optimum location for the Initial Well and the Second Well and (2) initiating the investigation of the potential of associated structures in the Lease Area the Parties agree to conduct due diligence concerning the desirability of conducting an Electromagnetic Survey. In the event Syntroleum and the Farmees agree that the Electromagnetic Survey should be conducted the Parties shall pay their respective Cost Bearing Participation shares of such survey as specified in Schedule 2.1(A)(i)(x). The Parties agree that the results of the Electromagnetic Survey are not a condition to the drilling of the Initial Well and that the electromagnetic survey shall not delay the drilling of the Initial Well. The Technical Advisor shall be responsible for the carrying out of the Electromagnetic Survey as described above and all related work associated with the preparation of the drilling of the Initial or Second ▇▇▇▇▇.
(i) For the purposes of the preceding work and any other operations conducted during the Interim Period, the JOA shall be deemed to apply amongst the Farmees and Syntroleum, including the right and duty of the Technical Advisor to submit budgets and AFEs and to cash call. If either Syntroleum or any of the Farmees fails to pay any cash call issued in respect of its Cost Bearing Participation share of operations undertaken during the Interim Period, then such Party shall be subject to all the default provisions in the JOA.
(ii) From the Approval Date the data obtained in such Electromagnetic Survey may be proprietary data jointly owned by the Parties. If any third party wants to acquire the right to use such proprietary data, Syntroleum and the Farmees may license or sell such proprietary data and in such event shall share the royalties or other proceeds among Syntroleum and the Farmees in proportion to their respective Cost Bearing Participation shares set out in Schedule 2.1(A)(i)(x). Nothing set out in this provision shall limit the right of Syntroleum or the Farmees to use such proprietary data or to disclose such proprietary data to third parties without providing copies of the data to the third parties. YFP may at any time, to the extent required under applicable laws, rules and regulations file such Survey with the Government.
B. Subject to the provisions of this Article 4.2 Syntroleum and the Farmees shall cause ADTI to commence the drilling of the Initial Well by February 15, 2006 under a turnkey drilling contract ...
WORK COMMITMENTS. 2.01 To maintain the Option in good standing, the Optionee will carry out the following to develop the Property:
(a) a work program consisting of sampling and sample analysis, involving a minimum expenditure of $375,000 during 2004;
(b) a work program consisting of sampling, sample analysis, geophysical survey and additional agreed exploration, involving a minimum expenditure of $400,000 during 2005;
(c) a work program consisting primarily of drilling, involving a minimum of $450,000 during 2006. The Optionor acknowledges that above dollar amounts do not include taxes and represent minimum work commitments and the Optionee agrees to use its best efforts to carry out programs involving the expenditure of $500,000 in 2004, $600,000 in 2005 and $600,000 in 2006.