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.
Appears in 3 contracts
Samples: Joint Venture Agreement (Southern Energy Company, Inc.), Joint Venture Agreement (Siga Resources Inc.), Joint Venture Agreement (Siga Resources Inc.)
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 Section 4.2.
Appears in 2 contracts
Samples: Joint Venture Agreement (Stirrup Creek Gold LTD), Joint Venture Agreement (Stirrup Creek Gold LTD)
Disposition Generally. The Operator shall have no obligation to purchase a ParticipantMember's interest in Material. The Management Committee shall determine the disposition of major items of surplus Material; provided, provided however, that 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 Members as provided in Subsection 4.2Section 4.2 or by sale. The Operator shall credit the Members in proportion to their Participating Interest for all Material sold under this Article 4.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Minera Andes Inc /Wa)
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 subsection 4.2.
Appears in 1 contract
Disposition Generally. The Operator shall have no obligation to purchase a either Participant's interest in Material. The Management Committee shall determine the disposition of major items of surplus Material, provided that the Operator shall have the right to dispose of normal accumulations of junk and scrap Material either by sale or by transfer distributing such Material to the Participants as provided in Subsection Section 4.2.
Appears in 1 contract
Samples: Joint Venture Agreement
