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. (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.
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 A interval as observed as the Miluveach top correlative stratigraphic surface seen in the Sak Riv 1A well (API No. 50-02923336-02-00) at 12,348 feet measured depth. The penetration may not be within a 1,500 feet radius of the bottom hole location of any existing well.
WORK COMMITMENTS. 5.1 During the License Period, ORE will incur at least US$250,000 in Expenditures. For purposes of this Agreement "Expenditures" shall mean the expenses incurred by ORE in ascertaining the existence, location, quantity, quality or commercial value of a deposit of minerals on or within the NN Target Area, including analysis of the NN Data ("Exploration Work"), described below:
WORK COMMITMENTS a. For so long as Assignee continues to maintain any interest under this Agreement, or under either of the Mining Leases, Assignee covenants that it shall, on an annual basis, commencing with the effective date of this Agreement, complete on such portion or portions of the Properties as it may, in its complete discretion, select, the following minimum quantities of geological, geophysical, geochemical, mapping, sampling, assaying, reclamation or physical exploration and development work (collectively, "Work"): Work Period Dollar Value of Work December 1, 1994 - November 30, 1995 $ 150,000 December 1, 1995 - November 30, 1996 $ 250,000 December 1, 1996 - November 30, 1997 $ 400,000 December 1, 1997 - November 30, 1998 $ 500,000
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:
WORK COMMITMENTS. 2.01 To maintain the Option in good standing, the Optionee will carry out the following to develop the Property:
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 Xxxxx.
