Environmental Compliance Fund. Costs of reasonably anticipated Environmental Compliance which, on a Program basis, shall be determined by the Management Committee and shall be based on proportionate contributions in an amount sufficient to establish a fund, which through successive proportionate contributions during the life of the Business, will pay for ongoing Environmental Compliance conducted during Operations and which will aggregate the reasonably anticipated costs of mine closure, post-Operations Environmental Compliance and Continuing Obligations. The Manager shall invest such amounts on behalf of the Participants as provided in Subsection 7.2(q) of the Agreement.
Environmental Compliance Fund. Funds deposited into the Environmental Compliance Fund will be maintained by the Manager in a separate, interest bearing cash management account, which may include money market investments and money market funds, or longer-term investments approved by the Management Committee. Such funds will be used solely for Environmental Compliance and Continuing Obligations, including committing such funds, interests in property, insurance or bond policies, or other security to satisfy Laws regarding financial assurance for the reclamation or restoration of the Properties, and for other Environmental Compliance requirements.
Environmental Compliance Fund. Costs of reasonably anticipated Environmental Compliance which, on a Program basis, shall be determined by the Managing Partner and shall be based on proportionate contributions in an amount sufficient to establish and maintain a fund. This fund, hereinafter called, Environmental Compliance Fund, which through successive proportionate contributions of the Partners during the duration of the agreement, will be sufficient to cover ongoing Environmental Compliance conducted during Operations and which will cover the reasonably anticipated costs of mine closure, post-Operations Environmental Compliance and other Continuing Obligations. A sufficiently substantiated and clear calculation with the principles used for aforementioned costs should be available at all times.
Environmental Compliance Fund. Costs of reasonably anticipated Environmental Compliance which, on a Program basis, shall be determined by the Management Committee and shall be based on proportionate contributions in an amount sufficient to establish a fund which, through successive proportionate contributions during the term of the Company, shall (i) pay for ongoing Environmental Compliance conducted during Operations and (ii) pay for the reasonably anticipated costs of mine closure, post-Mining Environmental Compliance and Continuing Obligations. The Manager shall invest such amounts on behalf of the Members as (i) provided in Section 9.2(q) of the Agreement and (ii) approved by the Management Committee pursuant to the Agreement.
Environmental Compliance Fund. Costs of reasonably anticipated Environmental Compliance to be determined by the Participants’ respective co-managers as part of a Plan of Exploration.
Environmental Compliance Fund. The Chief Executive Officer shall cause the funds deposited into the Environmental Compliance Fund to be maintained by the Company in a separate, interest bearing cash management account, which may include money market investments and money market funds, or longer-term investments approved by the Management Committee. Such funds shall be used solely for Environmental Compliance and Continuing Obligations, including committing such funds, interests in property, insurance or bond policies, or other security to satisfy Laws regarding financial assurance for the reclamation or restoration of the Properties, and for other Environmental Compliance requirements.
