Common use of Continuing Liabilities Upon Adjustments of Participating Interests Clause in Contracts

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 Properties 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. Either Participant, however, 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 Properties is located.

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 Properties 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. Either However, either Participant, however, 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 Properties Property is located.

Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction of a Participant's Participating Interest under this Section 6 Article VI shall not relieve such Participant of its share of any liability, whether it accrued accrues before or after such reduction, arising out of Operations conducted prior to such reduction. For purposes of this Article 6VI, 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 another 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 Property was acquired or those to which both 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 each Participant's Participating Interest shall be shown in the books of the ManagerOperator. Either However, any Participant, however, at any time upon the request of the other another Participant, shall execute and acknowledge instruments necessary to evidence such adjustment in form sufficient for recording in the jurisdiction where the Properties Property is located.

Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction of a Participant's ’s Participating Interest under this Section 6 Article VI shall not relieve such Participant of its share of any liabilityLiability, including Reclamation obligations, whether it accrued accrues before or after such reduction, arising out of Operations conducted prior to such reductionreduction or under the PSA. For the purposes of this Article 6VI, such Participant's ’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 ’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 was were 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 ’s Participating Interest shall be shown in the books of the Manager. Either However, either Participant, however, 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 Properties is are located.. 164067

Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction of a ParticipantVenturer's Participating Interest under this Section 6 Under Article X shall not relieve such Participant Venturer of its share of any liabilityliabilities to third persons, whether it accrued 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 Article 6Section, such ParticipantVenturer'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 Venturer as a result of the reduction of the other ParticipantVenturer's Participating Interest shall be free of royalties, liens or other encumbrances arising by, through or under such other ParticipantVenturer, other than those existing at the time the Properties was Claims were acquired or those to which both Participants 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 appropriate instruments, but each ParticipantVenturer's Participating Interest shall be shown in the books of the ManagerJoint Venture. Either Participant, howeverVenturer, at any time upon the request of the other ParticipantVenturer, shall execute and acknowledge instruments necessary to evidence such adjustment in form sufficient for recording in the jurisdiction where the Properties is Claims are located.. 84

Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction of a Participant's Participating Interest under this Section 6 Article VI shall not relieve such Participant of its share of any liability, whether it accrued accrues before or after such reduction, arising out of Operations conducted prior to such reduction. For purposes of this Article 6VI, 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 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 ManagerOperator. Either However, either Participant, however, 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 Properties is Property are located.

Continuing Liabilities Upon Adjustments of Participating Interests. (a) Any reduction or forfeiture of a Participant's ’s Participating Interest under this Section 6 shall not relieve such Participant of its share of any liability, whether it accrued accrues before or after such reductionreduction or forfeiture, arising out of Operations conducted prior to such reductionthereto. For purposes of this Article 6the foregoing, such Participant's ’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 ’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 was were acquired or those to which both all Participants have given their written consentconsent or which may arise pursuant to Section 5.6. 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 ’s Participating Interest shall be shown in the books of the Manager. Either However, any Participant, however, at any time upon the request of the other another Participant, shall execute and acknowledge instruments necessary to evidence such adjustment in form sufficient for recording in the jurisdiction where the Properties is are located.

Continuing Liabilities Upon Adjustments of Participating Interests. Any 6.6 No reduction of a Participant's Participating Interest under this Section Article 6 shall not relieve such Participant of its share of any liability, whether it accrued accrues 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 through, or under such other Participant, other than those existing at the time the Properties was were 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. However, but each either Participant's Participating Interest shall be shown in the books of the Manager. Either Participant, however, 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 Province of British Columbia. Net Profits Royalty 6.7 Upon relinquishment of a Participant's entire Participating Interest as provided under paragraph (d) of Section 6.4 or Section 6.5, or Section 12.3, the Properties is locatedremaining Participant shall quitclaim the interest in Net Profits Royalty to the withdrawn Participant.

Continuing Liabilities Upon Adjustments of Participating Interests. Any ------------------------------------------------------------------ reduction of a Participant's Participating Interest under this Section 6 Article VI shall not relieve such Participant of its share of any liability, whether it accrued accrues before or after such reduction, arising out of Operations conducted prior to such reduction. For purposes of this Article 6VI, 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 was acquired provided herein 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. Either However, either Participant, however, 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 Properties is are located.

Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction of a Participant's Participating Interest under this Section Article 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 Properties was were 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. Either However, either Participant, however, 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 Properties is are located.

Continuing Liabilities Upon Adjustments of Participating Interests. Any reduction of a Participant's ’s Participating Interest under this Section 6 Article 7 shall not relieve such Participant of its share of any liability, whether it accrued accrues before or after such reduction, arising out of Operations conducted prior to such reduction. For purposes of this Article 67, such Participant's ’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 ’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 was were 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 ’s Participating Interest shall be shown in the books of the Manager. Either However, either Participant, however, at any time upon the request of the other Participant, shall execute and acknowledge instruments necessary to evidence such adjustment in a form sufficient for recording in the jurisdiction where the Properties is are located.

Continuing Liabilities Upon Adjustments of Participating Interests. Any Subject to Article 9 any reduction or forfeiture of a Participant's ’s Participating Interest under this Section 6 shall not relieve such Participant of its share of any liability, liability whether it accrued accrues before or after such reductionreduction or forfeiture, arising out of Operations conducted prior to such reductionthereto. For purposes of this Article 6the foregoing, such Participant's ’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 ’s Participating Interest shall be free of royalties, liens or other encumbrances arising rising by, through or under such other Participant, other than those existing at the time the Properties Property was acquired or those to which both all Participants have given their written consent. An Any 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 ’s Participating Interest shall be shown in the books of the Manager. Either However, any Participant, however, at any time upon the request of the other another Participant, shall execute and acknowledge instruments necessary to evidence such adjustment in form sufficient for recording in the jurisdiction where the Properties Property is located.