Damages and Losses to Joint Property. All costs necessary for the repair or replacement of Assets made necessary because of damages or losses by fire, flood, storms, theft, accident or other cause. If the damage or loss is estimated by the Operator to exceed $10,000, the Operator will furnish each Participant with written particulars of the damages or losses incurred as soon as practicable after the damage or loss has been discovered. The proceeds, if any, received on claims against any policies of insurance in respect of those damages or losses will be credited to the Joint Account.
Appears in 3 contracts
Samples: Agreement (Strathmore Minerals Corp.), That Certain Agreement (Yellowcake Mining Inc.), Agreement (Strathmore Minerals Corp.)
Damages and Losses to Joint Property. All costs necessary for the repair or replacement of Assets made necessary because of damages or losses by fire, flood, storms, theft, accident or other cause. If the damage or loss is estimated by the Operator to exceed $10,000100,000, the Operator will shall furnish each Participant with written particulars of the damages or losses incurred as soon as practicable after the damage or loss has been discovered. The proceeds, if any, received on claims against any policies of insurance in respect of those damages or losses will shall be credited to the Joint Account.
Appears in 2 contracts
Samples: Mining Option Agreement (Coastal Pacific Mining Corp), An Agreement (Pana-Minerales S.A.)
Damages and Losses to Joint Property. All costs necessary for the repair or replacement of Assets made necessary because of damages or losses by collapse, fire, flood, storms, theft, accident or other cause. If the damage or loss is estimated by the Operator to exceed $10,000, the Operator will furnish each Participant with written particulars of the damages or losses incurred as soon as practicable after the damage or loss has been discovered. The proceeds, if any, received on claims against any policies of insurance in respect of those damages or losses will be credited to the Joint Account.
Appears in 2 contracts
Samples: Agreement (Nu-Mex Uranium Corp.), Agreement (Nu-Mex Uranium Corp.)
Damages and Losses to Joint Property. All costs necessary for the repair or replacement of Assets made necessary because of damages or losses by collapse, fire, flood, storms, theft, accident or other cause. If the damage or loss is estimated by the Operator Manager to exceed $Ten Thousand Dollars (US$10,000), the Operator Manager will furnish each Participant with written particulars of the damages or losses incurred as soon as practicable after the damage or loss has been discovered. The proceeds, if any, received on claims against any policies of insurance in respect of those damages or losses will be credited to the Joint Account.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (American Uranium Corp)
Damages and Losses to Joint Property. All costs necessary for the repair or replacement of Assets made necessary because of damages or losses by fire, flood, storms, theft, accident or other cause. If the damage or loss is estimated by the Operator to exceed $10,00050,000, the Operator will shall furnish each Participant with written particulars of the damages or losses incurred as soon as practicable after the damage or loss has been discovered. The proceeds, if any, received on claims against any policies of insurance in respect of those damages or losses will shall be credited to the Joint Account.
Appears in 1 contract
Damages and Losses to Joint Property. All costs necessary for the repair or replacement of Assets made necessary because of damages or losses by fire, flood, storms, theft, accident or other cause. If the damage or loss is estimated by the Operator Manager to exceed $10,000, the Operator Manager will furnish each Participant with written particulars of the damages or losses incurred as soon as practicable after the damage or loss has been discovered. The proceeds, if any, received on claims against any policies of insurance in respect of those damages or losses will be credited to the Joint Account.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Yellowcake Mining Inc.)