Change in Federal Mining Law Sample Clauses

Change in Federal Mining Law. If the United States establishes a leasing system or other system of tenure for lands or minerals now subject to location under the mining laws, and if the new system gives Owner an election to acquire rights under the new system in exchange for or in modification of Owner's existing rights, Gentor may make an the election in the name of Owner with respect to all of the unpatented claims included in the Premises. Thereafter, during the term of this Agreement Gentor shall pay all royalties, rentals, bonuses, fees, and other amounts required by the new system.
Sample 1
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Change in Federal Mining Law. If the United States establishes a leasing system or other system of tenure for lands or minerals now subject to location under the mining laws, and if the new system gives Sellers an election to acquire rights under the new system in exchange for or in modification of Sellers’ existing rights, upon prior written consent of Gunpoint Parent, which consent shall not be unreasonably withheld, Buyer may make the election in the name of applicable Sellers with respect to any or all of the Mining Claims. Thereafter, during the term of this Agreement, Buyer shall pay all royalties, rentals, bonuses, fees, and other amounts required by the new system. The rights of Buyer under this Agreement shall extend to the lease or other rights granted by the new system.
Sample 1
Change in Federal Mining Law. If the United States establishes a leasing system or other system of tenure for lands or minerals now subject to location under the mining laws, and if the new system gives the Claimholders an election to acquire rights under the new system in exchange for or in modification of the Claimholders’ existing rights, upon prior written consent of the Claimholders pursuant to the Lease and Option Agreements, YCKM may make the election in the name of the relevant Claimholders with respect to any or all of the unpatented claims included in the Mining Properties. Thereafter, during the term of this Agreement YCKM shall pay all royalties, rentals, bonuses, fees, and other amounts required by the new system, but YCKM shall be entitled to credit all such payments as Qualified Expenditures.
Sample 1
Change in Federal Mining Law. If the United States amends or replaces the existing system of tenure for land or minerals and if the new system gives Owner an election to acquire rights under the new system in exchange for or in modification of Owner's existing rights, LESSEE may make the election in the name of Owner with respect to any or all of the unpatented claims included in the Premises. In such event, LESSEE shall have the right to (i) exchange with or transfer to the United States all or any part of any unpatented mining claim or mill site then constituting part of the Premises for the purpose of acquiring rights to the ground covered thereby; and, (ii) convert all or any part of any unpatented mining claim or mill site then constituting part of the Premises into one or more leases or other forms of mineral tenure pursuant to any federal law hereafter enacted. Any such ground, lease or other form of tenure shall be part of the Premises for all purposes of this Agreement. For the purpose of calculating the royalties, LESSEE shall be entitled to deduct from amounts received from sale of Product any rentals, royalties or other consideration payable to the United States with respect to forms of tenure contemplated by this section with Owners consent SECTION 7 TITLE; OWNER'S WARRANTIES, REPRESENTATIONS & COVENANTS
Sample 1
Change in Federal Mining Law. If the United States establishes a leasing system or other system of tenure for lands or minerals now subject to location under the mining laws, and if the new system gives Owner an election to acquire rights under the new system in exchange for or in modification of Owner’s existing rights, HuntMountain may make the election in the name of Owner with respect to any or all of the unpatented claims included in the Property. Thereafter, during the term of this Agreement HuntMountain shall pay all royalties, rentals, bonuses, fees, and other amounts required by the new system,. The rights of HuntMountain under this Agreement shall extend to the lease or other rights granted by the new system.
Sample 1
Change in Federal Mining Law. If the United States shall hereafter establish a leasing system or other system of tenure for lands or minerals now subject to location under the mining laws, and if the new system gives Lessor an election to acquire rights under the new system in exchange for or in modification of its existing rights, Endeavor shall have the right (but not the obligation) to make the elections in the name of Lessor with respect to any or all of the Claims. Thereafter, during the term of this Agreement, Endeavor shall pay all royalties, rentals, bonuses, fees, and other amounts required by the new system. The rights of Endeavor under this Agreement shall apply and extend to the lease or other rights granted by or under the new system.
Sample 1
Change in Federal Mining Law. If the United States establishes a leasing system or other system of tenure for lands or minerals now subject to location under the mining laws prior to purchase of the Property (pursuant to Section 23.0), EGI may make the election to first attempt a re-negotiation of the Agreement with Owner, solely with regard to the unpatented claims set forth in Exhibit A. If the re-negotiation does not resolve the concerns of EGI, EGI and Owner will immediately seek resolution of this matter pursuant to Section 41.0, and this Agreement will remain in full force and effect without default thereof during this dispute resolution period. {Mining Lease with Option to Purchase - w Exhibit.1 /}
Sample 1
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Change in Federal Mining Law. If the United States establishes a leasing system or other system of tenure for lands or minerals now subject to location under the mining laws, and if the new system gives Nu Star an election to acquire rights under the new system in exchange for or in modification of Nu Star’s existing rights for the Mineral Claims upon prior written consent of Nu Star, AUC may make the election in the name or Nu Star with respect to any or all of the unpatented claims included in the Properties. Thereafter, during the term of this Agreement AUC shall pay all royalties, rentals, bonuses, fees, and other amounts required by the new system, but AUC shall be entitled to credit all such payments as Expenditures.
Sample 1
Change in Federal Mining Law. If the United States establishes a leasing system or other system of tenure for lands or minerals now subject to location under the mining laws, and if NORD acquires rights under the new system in exchange for or in modification of its existing rights, the rights of ARIMETCO under this Agreement shall extend to the lease or other rights granted by the new system.
Sample 1

Related to Change in Federal Mining Law

  • Change in Tax Law Any reference to a provision of the Code, Treasury Regulations or any other Applicable Tax Law shall include a reference to any applicable successor provision of the Code, Treasury Regulations or other Applicable Tax Law.

  • Effect of a Change in Control In the event of a Change in Control, Sections 6 through 13 of this Agreement shall become applicable to Executive. These Sections shall continue to remain applicable until the third anniversary of the date upon which the Change in Control occurs. On such third anniversary date, and provided that the employment of Executive has not been terminated on account of a Qualifying Termination (as defined in Section 5 below), this Agreement shall terminate and be of no further force or effect.

  • Change in Effective Control A Change in Effective Control occurs if, over a twelve (12) month period: (i) a person or group acquires stock representing thirty percent (30%) of the voting power of the corporation; or (ii) a majority of the members of the board of directors of the ultimate parent corporation is replaced by directors not endorsed by the persons who were members of the board before the new directors’ appointment, as defined in Treasury Regulations §1.409A-3(i)(5)(vi).

  • No Effect Prior to Change in Control This Agreement shall not effect any rights of the Company to terminate the Executive prior to a Change in Control or any rights of the Executive granted in any other agreement or contract or plan with the Company. The rights, duties and benefits provided hereunder shall only become effective upon and after a Change in Control. If the full-time employment of the Executive by the Company is ended for any reason prior to a Change in Control, this Agreement shall thereafter be of no further force and effect.

  • Change in Effective Control of the Company A change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change of Control; or

  • No Change in Control Guarantor shall not permit the occurrence of any direct or indirect Change in Control of Tenant or Guarantor.

  • Effect of Change in Control In the event of a Change in Control, except to the extent that the Committee determines to cash out the Option in accordance with Section 13.1(c) of the Plan, the surviving, continuing, successor, or purchasing corporation or other business entity or parent thereof, as the case may be (the “Acquiror”), may, without the consent of the Participant, assume or continue in full force and effect the Company’s rights and obligations under all or any portion of the Option or substitute for all or any portion of the Option a substantially equivalent option for the Acquiror’s stock. For purposes of this Section, the Option or any portion thereof shall be deemed assumed if, following the Change in Control, the Option confers the right to receive, subject to the terms and conditions of the Plan and this Option Agreement, for each share of Stock subject to such portion of the Option immediately prior to the Change in Control, the consideration (whether stock, cash, other securities or property or a combination thereof) to which a holder of a share of Stock on the effective date of the Change in Control was entitled; provided, however, that if such consideration is not solely common stock of the Acquiror, the Committee may, with the consent of the Acquiror, provide for the consideration to be received upon the exercise of the Option for each share of Stock to consist solely of common stock of the Acquiror equal in Fair Market Value to the per share consideration received by holders of Stock pursuant to the Change in Control. The Option shall terminate and cease to be outstanding effective as of the time of consummation of the Change in Control to the extent that the Option is neither assumed or continued by the Acquiror in connection with the Change in Control nor exercised as of the time of the Change in Control.

  • Change in Name The Purchaser shall intimate the Seller of any change in its name (on account reasons other than a change in its Control), immediately upon occurrence of name change. The Parties shall thereafter take necessary steps to record such change in the name of the Purchaser in the books and records of the Seller and shall also execute an amendment agreement to the Agreement to record such name change.

  • Change in Control Event XX (a) Participants may elect upon initial enrollment to have accounts distributed upon a Change in Control Event.

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