Disposition Generally. The Manager shall have no obligation to purchase a Participant’s interest in Material. The Management Committee shall determine the disposition of major items of surplus Material, provided the Manager shall have the right to dispose of normal accumulations of junk and scrap Material either by transfer to the Participants as provided in Section 4.2 or by sale. The Manager shall credit the Participants in proportion to their Participating Interest for all Material sold hereunder.
Disposition Generally. The Operator shall have no obligation to purchase a Participant's interest in Material. The Management Committee shall determine the disposition of major items of surplus Material, provided the Operator shall have the right to dispose of normal accumulations of junk and scrap Material either by sale or by transfer to the Participants as provided in Subsection 4.2.
Disposition Generally. USE shall have no obligation to purchase SGMC's interest in Material. SGMC shall determine the disposition of all Material, provided USE shall have the right to dispose of normal accumulations of junk and scrap material either by transfer to SGMC as provided in Section 4.2 or by sale. USE shall credit SGMC for all Material sold hereunder.
Disposition Generally. The Managing Partner shall have no obligation to purchase a Partner’s interest in Material. The Managing Partner shall determine the disposition of major items of surplus Material, provided the Managing Partner shall have the right to dispose of normal accumulations of junk and scrap Material either by transfer to the Partners as provided in Section 3.2 or by sale. The Managing Partner shall credit the Partners account in proportion to their Participating Interest for all Material sold hereunder.
Disposition Generally. Subject to the authority granted to the Manager in the Agreement, the Parties shall determine by majority agreement determined in accordance with their Participating Interest, the disposition of major items of surplus Material, provided the Manager shall have the right to dispose of normal accumulations of junk and scrap Material. EXHIBIT “C” TO EXPLORATION, DEVELOPMENT AND MINE OPERATING AGREEMENT By And Between RIMFIRE ALASKA, LTD. and ANGLOGOLD (U.S.A.) EXPLORATION INC. NET PROFITS PRODUCTION ROYALTY A Participant who is reduced to less than a 15% Participating Interest shall be subject to the provisions of Section 11.4(b) herein and shall, upon such event, will be referred to as “Royalty Owner”. Royalty Owner is entitled to a production royalty equal to 5% of the Net Profits, calculated as provided herein, attributable to all mineral products produced and sold (or deemed sold, as set forth herein-hereinafter, “Products”) from the Property. All capitalized words and phrases used in this Exhibit shall have the meanings assigned to them herein, as follows:
Disposition Generally. The Operator shall have no obligation to purchase a Participant's interest in
Disposition Generally. The provider shall have no obligation to purchase a Joint Venturer's interest in Material. The Board shall determine the disposition of major items of surplus Material, provided the provider shall have the right to dispose of normal accumulations of junk and scrap material either by sale or by transfer to the Joint Venturers as provided in Section 4.2.
Disposition Generally. The Management Committee shall determine the disposition of major items of surplus Material; provided, the Company shall have the right to dispose of normal accumulations of junk and scrap Material either by sale or by distributing such Material to the Members as provided in Section 4.2.
