Establishment of the Joint Venture. The Parties hereby shall jointly establish a joint venture (hereinafter referred to as the “Joint Venture”.
Establishment of the Joint Venture. 3.1 With effect from the Effective Date, the Participants shall carry on the Joint Venture Project, upon the terms and conditions and for the purposes and scope as defined in this Agreement. Except as otherwise provided for in this 1256/AAP/KJW 26/04/2004 Agreement, and other than the HDP Participant referred to in 2.3 at the Exploitation Phase (or earlier if necessary) PPL and Plateau shall be the only Participants in the Joint Venture.
3.2 Forthwith after the Effective Date, to achieve the objectives in clause 2.4, the Parties agree to associate together in a joint venture to be known by a name to be agreed by the Parties forthwith after the Signature Date.
3.3 Unless otherwise agreed between the Participants and unless PPL makes the election to have a contributory Participation Interest in accordance with clause 7.5, all the obligations which accrue to and are incurred by them as against third parties in pursuing the objects of the Joint Venture in accordance with the provisions of this Agreement, shall be incurred solely by the Participants to the Joint Venture other than PPL.
3.4 Nothing in this Agreement shall be construed as creating a relationship of principal and agent, other than as expressly created in this Agreement, or partnership between the Participants, their intention being merely to co-operate with each other and to act together for purposes of the Joint Venture Project.
3.5 Save as may otherwise be permitted by this Agreement, none of the Participants shall be entitled to incur any obligations on behalf of the others or CIS/AAP/669 Page 29 1256/AAP/KJW 26/04/2004 to act on behalf of the others or to act on behalf of or bind the Joint Venture or any Participant.
3.6 The initial Participation Interests of the Participants in the Joint Venture shall be :
3.6.1 PPL – 50% (FIFTY PERCENT);
3.6.2 Plateau –50% (FIFTY PERCENT).
Establishment of the Joint Venture. 4.1 The parties unanimously agree to establish a joint venture in Taixing, Jiangsu province, China in accordance with the Joint Venture Laws and the Contract.
Establishment of the Joint Venture. Establishment of JV Party A and Party B hereby establish “Shijiazhuang—Unigene Pharmaceutical Corporation Limited” (hereafter referred to as the “JV”) in the PRC pursuant to this Contract, the Law and other relevant PRC laws and regulations.
Establishment of the Joint Venture. Upon execution of this Agreement and contribution of the first installment of the Initial Capital Contributions due by each Partner as set forth on Schedule 1 hereto, the Joint Venture shall commence its existence. The purpose of the Joint Venture shall be for each of the Partners to provide its unique expertise and experience to the joint project of operating a cruise ship from New Orleans, Louisiana, and such other business activities as shall be approved by the Partners from time to time.
Establishment of the Joint Venture. 3.1 With effect from the Effective Date, the Participants shall carry on the Joint Venture Project, upon the terms and conditions and for the purposes and scope as defined in this Agreement. Except as otherwise provided for in this Agreement, PTM and RM shall be the only Participants in the Joint Venture.
3.2 Notwithstanding 3.1 it is contemplated by the Parties that a black economic empowerment partner will be introduced as a Participant at the stage approximately of completion of the Bankable Feasibility Study. The terms and conditions of this Agreement will be appropriately amended to include the incorporation of the black economic empowerment Participant at the time of introduction.
3.3 Forthwith after the Effective Date, to achieve the objectives in 2.3, the Parties agree to associate together in a joint venture to be known as the ___________ Joint Venture.
3.4 Unless otherwise agreed between the Participants, all the obligations which accrue to and are incurred by them as against third parties in pursuing the objects of the Joint Venture in accordance with the provisions of this Agreement, shall be incurred by the Participants to the Joint Venture in relation to their respective Participation Interests in the Joint Venture from time to time.
3.5 Nothing in this Agreement shall be construed as creating a partnership between the Participants, their intention being merely to co-operate with each other and to act together for purposes of the Joint Venture Project.
3.6 Save as may otherwise be permitted by this Agreement, none of the Participants shall be entitled to incur any obligations on behalf of the others or to act on behalf of the others or to act on behalf of or bind the Joint Venture or any Participant.
3.7 The initial Participation Interests of the Participants in the Joint Venture shall be 55% (FIFTY FIVE PERCENT) as to PTM and 45% (FORTY FIVE PERCENT) as to RM.
Establishment of the Joint Venture. (1) The Joint Venture will be established upon the date that the Post Option Interests are first determinable.
(2) Upon establishment of the Joint Venture and for so long as the Option Earner holds a 49% or greater Participating Interest, the Option Earner has the right to elect to continue to be the Operator or to select a third party, which may include an Affiliate of the Option Earner, to act as Operator on behalf of the Option Earner and the Option Grantor (the “Joint Venture Participants”).
Establishment of the Joint Venture. 1. The Parties agree to form a co-operative joint venture (the "JOINT VENTURE") constituted as a separate legal person. The objectives of the Joint Venture are to jointly explore, develop and
Establishment of the Joint Venture. 1.1 The Parties agree to form a co-operative joint venture (the "JOINT VENTURE") constituted as a separate legal person. The objectives of the Joint Venture are to jointly explore, develop and exploit mineral resources (excluding those mineral commodities on which the foreign participation is prohibited by the Chinese laws) within the territory of Sichuan province using an integrated mining company model which combines exploration, development, and production.
1.2 The business scope of the Joint Venture include mineral exploration, development, exploitation, processing and marketing of mineral products.
Establishment of the Joint Venture. 1.1 The Parties agreed to establish a Co-operative (or equity) joint venture (the "Joint Venture") constituted as a separate legal person for the Project.
1.2 The Joint Venture shall have limited liability. Both Parties will make contributions to, and share the risk and profits of, the Joint Venture in accordance with their respective equity interests in the Joint Venture.
1.3 The term of the Joint Venture shall be thirty (30) years such period to be extendible upon mutual agreement between the Parties if the circumstances so warrant.
1.4 The purpose of the Joint Venture is to develop and exploit jointly the Changba-Lijiagou deposits on the basis of mutual benefits. The Parties will each use their respective advantages including mineral resources, capital, and technology, to achieve satisfactory profitability to both Parties.
1.5 The business scope of the Joint Venture is for mineral exploration, development, exploitation, processing and marketing the mineral products produced using an integrated mining company. In addition to the exploration and exploitation on the area covered by the existing mining license or the potentially acquired mining license, the Joint Venture will apply for the exploration permit which will cover, including but not limited to, the strike and dip extension of the ore bodies to be mined at the Changba-Lijiagou deposits, and adjacent ore bodies in Lijiagou area.
