Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction of a Participant's Participating Interest under this Section 6 shall not relieve such Participant of its share of any liability, whether it accrued before or after such reduction, arising out of Operations conducted prior to such reduction. For purposes of this Article 6, such Participant's share of such liability shall be equal to its Participating Interest at the time such liability was incurred. The increased Participating Interest accruing to a Participant as a result of the reduction of the other Participant's Participating Interest shall be free of royalties, liens or other encumbrances arising by, through or under such other Participant, other than those existing at the time the Property was acquired or those to which both Participants have given their written consent. An adjustment to a Participating Interest need not be evidenced during the term of this Agreement by the execution and recording of appropriate instruments, but each Participant's Participating Interest shall be shown in the books of the Manager. However, either Participant, at any time upon the request of the other Participant, shall execute and acknowledge instruments necessary to evidence such adjustment in form sufficient for recording in the jurisdiction where the Property is located.
Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction or elimination of either Participant's Participating Interest under SECTION 6.2 shall not relieve such Participant of its share of any liability, including, without limitation, Continuing Obligations, Environmental Liabilities and Environmental Compliance, whether arising, before or after such reduction or elimination, out of acts or omissions occurring or conditions existing prior to the Effective Date or out of Operations conducted during the term of this Agreement but prior to such reduction or elimination, regardless of when any funds may be expended to satisfy such liability. For purposes of this SECTION, such Participant's share of such liability shall be equal to its Participating Interest at the time the act or omission giving rise to the liability occurred, after first taking into account any reduction, readjustment and restoration of Participating Interests under SECTIONS 6.3, 9.5, 9.6 and 10.5 (or, as to such liability arising out of acts or omissions occurring or conditions existing prior to the Effective Date, equal to such Participant's initial Participating Interest). Should the cumulative cost of satisfying Continuing Obligations be in excess of cumulative amounts accrued or otherwise charged to the Environmental Compliance Fund as described in EXHIBIT B, each of the Participants shall be liable for its proportionate share (i.e., Participating Interest at the time of the act or omission giving rise to such liability occurred), after first taking into account any reduction, readjustment and restoration of Participating Interests under SECTIONS 6.3, 9.5, 9.6 and 10.5, of the cost of satisfying such Continuing Obligations, notwithstanding that either Participant has previously withdrawn from the Business or that its Participating Interest has been reduced or converted to an interest in Net Proceeds pursuant to SUBSECTION 6.3(A).
Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction or elimination of a Party’s Participating Interest under this Article 6 shall not relieve such Party of its share of any liability arising out of Operations conducted by the Venture prior to such reduction or elimination, whether it accrues before or after such reduction or elimination. For purposes of this Section 6.6, such Party’s share of such liability shall be equal to its Participating Interest at the time such liability was incurred. The increased Participating Interest accruing to a Party as a result of the reduction or elimination of the other Party’s Participating Interest shall be free of Lien or royalties arising by, through or under such other Party, other than those existing at the time the Venture was formed and those to which both Parties have agreed to. An adjustment to a Participating Interest need not be evidenced during the term of this Agreement by the execution and recording of appropriate instruments, but each Party’s Participating Interest shall be shown in the books of the Manager. However, either Party, at any time upon request from the other Party, shall execute and acknowledge instruments necessary to evidence such adjustment in form sufficient for recording with the Mining Registry (Québec) or such other governmental authority charged with the application of the Act or other applicable Law in respect of transfer and recording of mining rights.
Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction or forfeiture of a Participant's Participating Interest does not relieve such Participant of its share of any liability, whether it accrues before or after such reduction or forfeiture, arising out of Operations conducted prior thereto; provided, that notwithstanding the foregoing, upon the conversion of a Participating Interest to a Gross Overriding Royalty pursuant to Section 5.7 and Article 10 the holder of such Gross Overriding Royalty shall not be obligated to pay or incur any expenses or liability related to the costs of the closure of any mine or processing facility forming part of the Assets or related to Environmental Compliance upon the closure of such mine or processing facility forming part of the Assets if the Participating Interest converted to a Gross Overriding Royalty prior to any Products produced from such mine or processed through such processing facility being sold. For purposes of the foregoing, such Participant's share of such liability shall be equal to its Participating Interest at the time such liability was incurred. The increased Participating Interest accruing to a Participant as a result of the reduction of any other Participant's Participating Interest shall be free of royalties, liens or other encumbrances arising by, through or under such other Participant, other than those existing at the time the Properties were acquired, those which are permitted pursuant to Section 7.2 or 9.6 or those to which all Participants have given their written consent. An adjustment to a Participating Interest need not be evidenced during the term of this Agreement by the execution and recording of appropriate instruments, but the Manager shall show each Participant's Participating Interest in the books of the Manager. However, any Participant, at any time upon the request of another Participant, shall execute and acknowledge instruments necessary to evidence such adjustment in form sufficient for recording in the jurisdiction where the Properties are located.
Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction of a Participant's Participating Interest under this Article 5 shall not relieve such Participant of its share of any liability, cost, penalty or fine whether it accrues before or after such reduction arising out of Operations conducted prior to such reduction. For the purposes of this Article 5, such Participant's share of the said liability, cost, penalty or fine shall be equal to its Participating Interest at the time the liability, cost, penalty or fine was incurred. Thereafter each Participant's share of such penalty or fine shall be equal to its Participating Interest at the time such penalty or fine was incurred. The increased Participating Interest accruing to a Participant as a result of the reduction of another Participant's Participating Interest shall be free of Encumbrances arising by, through or under such other Participant other than those existing at the date of this Agreement or those to which both Participants have given their written consent. At any time upon the request of the other Participant, a Participant whose Participating Interest has been adjusted, shall execute and acknowledge instruments and perform such acts necessary to evidence such adjustment in form sufficient for recording in the jurisdiction where the Property is located.
Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction of a Participant's Participating Interest under this Article 8 shall not relieve such Participant of its share of any liability, cost, penalty or fine, whether it accrues before or after such reduction, arising out of Operations conducted prior to such reduction. For purposes of this Article 8, such Participant's share of such liability shall be equal to its Participating Interest at the time such liability was incurred. The increased Participating Interest accruing to a Participant as a result of the reduction of the other Participant's Participating Interest shall be free of royalties, liens or other encumbrances arising by, through or under such other Participant, other than those existing at the time the Properties were acquired or those to which both Participants have given their written consent.
Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction or forfeiture of a Participant's Participating Interest shall not relieve such Participant of its share of any liability, whether it accrues before or after such reduction of forfeiture, arising out of Operations conducted prior thereto. For purposes of the foregoing, such Participant's share of such liability shall be equal to its Participating Interest at the time such liability was incurred. An adjustment to a Participating Interest need not be evidenced during the term of this Agreement by the execution and recording of appropriate instruments, but each Participant's Participating Interest shall be shown in the books of the Operator. However, any Participant, at any time upon the request of another Participant, shall execute and acknowledge instruments necessary to evidence such adjustment in form sufficient for recording in the jurisdiction where the Property is located.
Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction of a Venturer's Participating Interest Under Article X shall not relieve such Venturer of its share of any liabilities to third persons, whether it accrues before or after such reduction, arising out of Operations conducted prior to such reduction, or of its other obligations under this Agreement. For purposes of this Section, such Venturer's share of such liability shall be equal to its Participating Interest at the time such liability was incurred. The increased Participating Interest accruing to a Venturer as a result of the reduction of the other Venturer's Participating Interest shall be free of royalties, liens or other encumbrances arising by, through or under such other Venturer, other than those existing at the time the Claims were acquired or those to which both Venturers have given their written consent. An adjustment to a Participating Interest need not be evidenced during the term of this Agreement by the execution and recording of instruments, but each Venturer's Participating Interest shall be shown in the books of the Joint Venture. Either Venturer, at any time upon request of the other Venturer, shall execute and acknowledge instruments necessary to evidence such adjustment in form sufficient for recording in the jurisdiction where the Claims are located. 84
Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction or elimination of a Party's Participating Interest under the provisions of this Article 6 shall not relieve such Party of its share of any liability arising out of Operations conducted by the Joint Venture prior to such reduction or elimination, whether it accrues before or after such reduction or elimination. For the purposes of this Section 6.6, such Party's proportionate share of such liability shall be equal to its Participating Interest at the time such liability was incurred.
Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction of a Party's Participating Interest under this Article shall not relieve such Party of its share of any liability, whether it accrues before or after such reduction, arising out of Operations conducted prior to such reduction or arising from liabilities assumed by the Joint Venture on the Effective Date. For purposes of this Article, such Party's share of such liability shall be equal to its Participating Interest at the time such liability was assumed (in the case of liabilities which existed on the Effective Date) or at the time of the action giving rise to such liability (in the case of the liabilities which arose after the Effective Date). The increased Participating Interest accruing to a Party as a result of the reduction of the other Party's Participating Interest shall be free of Encumbrances arising by, through or under such other Party, other than those existing at the time the Properties were acquired by, or contributed to, the Joint Venture or those to which both Parties have given their written consent. An adjustment to a Participating Interest need not be evidenced during the term of this Agreement by the execution and recording of appropriate instruments, but each Party's Participating Interest shall be shown in the books of the Manager. However, either Party, at any time upon the request of the other Party, shall execute and acknowledge instruments necessary to evidence such adjustment in form sufficient for recording in the jurisdiction where the Properties are located.
