ADJUSTMENTS AND VERIFICATION. 4.01 Payment of any Net Proceeds of Production by a Participant shall not prejudice the right of that Participant to adjust its own statement supporting the payment; provided, however, that all statements presented to the non-Participant by that Participant for any quarter shall conclusively be presumed to be true and correct upon the expiration of 12 months following the end of the quarter to which the statement relates, unless within that 12 month period that Participant gives notice to the non-Participant making claim on the non-Participant for an adjustment to the statement which will be reflected in subsequent payment of Net Proceeds of Production.
Appears in 2 contracts
Samples: Joint Venture Agreement (Baymont Corp), Joint Venture Agreement (Delbrook Corp)
ADJUSTMENTS AND VERIFICATION. 4.01 4.1 Payment of any Net Proceeds of Production by a Participant shall not prejudice the right of that Participant to adjust its own statement supporting the payment; provided, however, that all statements presented to the non-Participant by that Participant for any quarter shall conclusively be presumed to be true and correct upon the expiration of 12 months following the end of the quarter to which the statement relates, unless within that 12 month period that Participant gives notice to the non-Participant making claim on the non-Participant for an adjustment to the statement which will be reflected in subsequent payment of Net Proceeds of Production.
Appears in 2 contracts
Samples: Mining Option Agreement (All American Gold Corp.), Mining Option Agreement (Amador Gold Corp)
ADJUSTMENTS AND VERIFICATION. 4.01 Payment of any Net Proceeds of Production by a Participant shall not prejudice the right of that Participant to adjust its own statement supporting the payment; provided, however, that all statements presented to the non-Participant by that Participant for any quarter shall conclusively conclusive-ly be presumed to be true and correct upon the expiration of 12 months following the end of the quarter to which the statement relates, unless within that 12 month period that Participant gives notice to the non-Participant making claim on the non-Participant for an adjustment to the statement which will be reflected in subsequent payment of Net Proceeds of Production.
Appears in 1 contract
Samples: Property Option Agreement (Revelstoke Industries, Inc.)
ADJUSTMENTS AND VERIFICATION. 4.01 Payment of any Net Proceeds of Production by a Participant shall not prejudice the right of that Participant to adjust its own protest the correctness of the statement supporting the payment; provided, however, that all statements presented to the non-Participant by that Participant for any quarter shall conclusively be presumed to be true and correct upon the expiration of 12 months following the end of the quarter to which the statement relates, unless within that 12 month period that Participant gives notice to the non-Participant making claim on the non-Participant for an adjustment to the statement which will be reflected in subsequent payment of Net Proceeds of Production.
Appears in 1 contract
Samples: Option and Joint Venture Agreement (Mill City Gold Corp.)
