Activities During Deadlock. If the Management Committee for any reason fails to adopt a Program and Budget, subject to the contrary direction of the Management Committee and to the receipt of necessary funds, the Manager shall continue Operations at levels comparable with the last adopted Program and Budget. For purposes of determining the required contributions of the Participants and their respective Participating Interests, the last adopted Program and Budget shall be deemed extended.
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Samples: Joint Venture Agreement (Idaho Consolidated Metals Corp), Stillwater West PGM Venture Agreement (Idaho Consolidated Metals Corp), Global Settlement Agreement (Idaho Consolidated Metals Corp)
Activities During Deadlock. If the Management Committee for any reason fails to adopt a Program and Budget, subject to the contrary direction of the Management management Committee and to the receipt of necessary funds, the Manager shall continue Operations at levels comparable with the last adopted Program and Budget. For purposes of determining the required contributions of the Participants and their respective Participating participating Interests, the last adopted Program and Budget shall be deemed extended. The Participants expressly agree that the Management Committee's authority shall include the authority to replace the Manager by majority vote.
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Samples: Mining Venture Agreement (Crested Corp), Mining Venture Agreement (Us Energy Corp)
Activities During Deadlock. If the Management Committee for any reason fails to adopt a an Exploration, Pre-Feasibility Study, Feasibility Study or Development Program and Budget, the Manager shall continue Operations at levels sufficient to maintain the Properties. If the Management Committee for any reason fails to adopt Programs and Budgets subsequent to the initial Program and Budget, subject to the contrary direction of the Management Committee and to the receipt of necessary funds, the Manager shall continue Operations at levels comparable with the last adopted Program and Budget. For purposes of determining the required contributions All of the Participants and their respective Participating Interests, the last adopted Program and Budget foregoing shall be deemed extendedsubject to the contrary direction of the Management Committee and the receipt of necessary funds.
Appears in 1 contract
Samples: Exploration, Development and Mine Operating Agreement (Thompson Creek Metals CO Inc.)
Activities During Deadlock. If the Management Committee for any reason --------------------------- fails to adopt a Program and Budget, subject to the contrary direction of the Management Committee and to the receipt of necessary funds, the Manager shall continue Operations at levels comparable with the last adopted Program and Budget. For purposes of determining the required contributions of the Participants and their respective Participating Interests, the last adopted Program and Budget shall be deemed extended.
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Activities During Deadlock. If the Management Committee for any reason fails to adopt a Programs and Budgets subsequent to the initial Production Program and Budget, subject to the contrary direction of the Management Committee and to the receipt of necessary funds, the Manager shall continue Operations at levels comparable with the last adopted Program and Budget. For purposes of determining the required contributions All of the Participants and their respective Participating Interests, the last adopted Program and Budget foregoing shall be deemed extendedsubject to the contrary direction of the Management Committee and the receipt of necessary funds.
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Activities During Deadlock. If the Management Committee for any reason fails to adopt a Program and Budget, subject Subject to the contrary direction of the Management Committee and to the receipt of necessary funds, if the Management Committee for any reason fails to adopt a Program and Budget, the Manager shall continue Operations at levels comparable with the last adopted Program and Budget. For purposes of determining Budget but in no event at levels which do not fully provide for the required contributions minimum holding costs of the Participants and their respective Participating Interests, the last adopted Program and Budget shall be deemed extended.Properties
Appears in 1 contract
Samples: Members' Agreement (U S Gold Corp)
Activities During Deadlock. If the Management Committee for any reason fails to adopt a Program and Budget, subject to the contrary direction of the Management Committee and to the receipt of necessary funds, the Manager shall continue Operations at levels comparable with the last adopted Program and Budget. For purposes of determining AGREEMENT-Page 27 the required contributions of the Participants and their respective Participating Interests, the last adopted Program and Budget shall be deemed extended.
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Activities During Deadlock. If the Management Committee for any reason fails to adopt a Program and Budget, subject to the contrary direction of the Management Committee and to the receipt of necessary funds, the Manager shall continue Operations at levels comparable with the last adopted Program and Budget. For purposes of determining the required contributions of the Participants ParticipantsMembers and their respective Participating ParticipatingPercentage Interests, the last adopted Program and Budget shall be deemed extended.
Appears in 1 contract
Samples: Limited Liability Company Agreement
Activities During Deadlock. If the Management Committee for any reason fails to adopt a Program and Budget, subject to the contrary direction of the Management Committee and to the receipt of necessary funds, the Manager shall be entitled to continue Operations at levels comparable with the last adopted Program and Budget. For purposes of determining the required contributions of the Participants and their respective Participating Interests, the last adopted Program and Budget shall be deemed extended.
Appears in 1 contract
Samples: Mine Development and Operating Agreement (Apollo Gold Corp)
Activities During Deadlock. If the Management Committee for any reason fails to adopt a Program and Budget, subject to the contrary direction of the Management Committee and to the receipt Receipt of necessary funds, the Manager shall continue Operations at levels comparable with the last adopted Program and Budget. For purposes of determining the required contributions of the Participants and their respective Participating Interests, the last adopted Program and Budget shall be deemed extended.
Appears in 1 contract
Samples: Mining Earn in and Joint Venture Agreement (Pan American Lithium Corp)
Activities During Deadlock. If the Management Committee for any reason fails to adopt a Program and Budget, subject to the contrary direction of the Management Committee and to the receipt of necessary funds, the Manager shall continue Operations at levels comparable with the last adopted Program and Budget. For purposes of determining the required contributions of the Participants Members and their respective Participating Percentage Interests, the last adopted Program and Budget shall be deemed extended.
Appears in 1 contract
Samples: Limited Liability Company Agreement
Activities During Deadlock. If the Management Committee for any reason fails to adopt a Program and Budget, subject Subject to the contrary direction of the Management Committee and to the receipt of necessary funds, if the Management Committee for any reason fails to adopt a Program and Budget, the Manager shall continue Operations at levels comparable with the last adopted Program and Budget. For purposes of determining Budget but in no event at levels which do not fully provide for the required contributions minimum holding costs of the Participants and their respective Participating Interests, the last adopted Program and Budget shall be deemed extendedProperties.
Appears in 1 contract
Samples: Operating Agreement (U S Gold Corp)