Expenditure Commitment Sample Clauses

Expenditure Commitment. The Contractor shall expend in total not less than [$] on infrastructure and development in the Contract Area, which amount shall include all Pre-Operating Expenses incurred after the commencement of the Development and Construction Phase. In the event this expenditure commitment is not or can not be met, the Contractor has the option to convert this Agreement into a Mineral Production Sharing Agreement or withdraw from this Agreement in accordance with the terms prescribed in Clause 18.1 and Clause 17.3, respectively.
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Expenditure Commitment. The SUB-GRANTEE commits to expeditiously expend the Funds provided by this Agreement exclusively for the completion of the tasks included in the Brief Project Summary.
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Expenditure Commitment. Contractor commits to expend at least US$700,000 in capital expenditures during the first eighteen months after the Effective Date in conducting the Evaluation Program and adding the water disposal well contemplated in clause 4(iv). If the cost of the capital expenditures for the Evaluation Program and the water disposal well are less than US$700,000, Contractor may elect to expand the activities of the Evaluation Program by selecting additional xxxxx for reactivation or re-completion.
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Expenditure Commitment. 6.1 Subject to the provisions of clause 4.2, Exeter may withdraw from this Agreement at any time during the Option Period upon giving Xxxxx ninety (90) days prior Notice provided that in the event exploration is being carried out at the time of withdrawal Exeter has met pro rata the cumulative minimum expenditure required on the Joint Venture Area to the time of notice; and the Joint Venture Area titles are in good standing so far as it is in Exeter’s power to ensure same.
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Expenditure Commitment. The Contractor shall commit minimum Ground Expenditures for each Contract Year during the Exploration/Pre-Feasibility Study Period, as follows: Contract Year (during Exploration/ US $ (or PhP Equivalent)/Hectare Pre-Feasibility Study Period) 4 8 5 18 based on the Contract Area held by the Contractor at the beginning of each Contract Year. The Contractor shall also be required to commit a minimum investment of Fifty Million US Dollars ($50,000,000.00) or its Philippine Peso equivalent, on infrastructure and development in the Contract Area, which amount shall include all Pre-Operating Expenses incurred after the commencement of the Development and Construction Period. The obligations of the Contractor under this clause are subject to the termination of this Agreement for any reason, including, but not limited to, an election by the Contractor to withdraw from this Agreement under Clause 17.3.
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Expenditure Commitment. The Contractor shall expend in total not less than Fifty Million US Dollars (US$50,000,000.00) or its Philippine Peso equivalent on infrastructure and development in the Contract Area, which amount shall include all Pre-Operating Expenses incurred after the commencement of the Development and Construction Period. In the event this expenditure commitment is not or cannot be met, the Contractor has the option to convert this Agreement into a Mineral Production Sharing Agreement or withdraw from this Agreement in accordance with the terms prescribed in Clause 18.2 and Clause 17.3, respectively.
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Expenditure Commitment. (i) incur an aggregate of $2,100,000 (two million one hundred thousand dollars) of Expenditures (the “First Expenditure Commitment”) during the period from the Closing Date to and including the third Anniversary Date (the “First Option Period”) to exercise the Option to Earn-In a 51% Interest as follows: (A) expending $100,000 (one hundred thousand dollars) on exploration of the Property on or before the first Anniversary Date, of which $60,000 (sixty thousand dollars) of Expenditures (the “Minimum Expenditure”) qualifying for assessment filing is to be completed on MEL430A and MEL1006A before June 1, 2014. Razore Rock shall have until March 15, 2014 to notify Alto Ventures that it will complete the Minimum Expenditure (the “Minimum Expenditure Notice”), failing which the Option shall be at an end; (B) expending a further $1,000,000 (one million dollars) for an aggregate of $1,100,000 (one million one hundred thousand dollars) on exploration of the Property on or before June 30, 2015; (C) on or before the third Anniversary Date expending a further $1,000,000 (one million dollars) on exploration of the Property for an aggregate of $2,100,000 (two million one hundred thousand dollars) on the exploration of the Property; and (ii) incur a further $1,000,000 (one million dollars) of Expenditures (the “Second Expenditure Commitment”, and together with the First Expenditure Commitment hereinafter referred to as the “Expenditure Commitments”) during the period commencing on the completion of the First Expenditure Commitment and ending on the fourth Anniversary Date (the “Second Option Period” and together with the First Option Period hereinafter referred to as the “Option Periods”) to exercise the Option to Earn-In an Additional 9% Interest, subject to the provisions of Section 3.4(b). For the avoidance of doubt, the Parties hereby acknowledge and agree that the total aggregate amount of Expenditures required to be incurred by Razore Rock to exercise the Options and to earn-in a sixty percent (60%) interest in the Mineral Rights is $3,100,000 (three million one hundred thousand dollars);
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Expenditure Commitment. 8.1 For each Tenure Year the total Exploration Expenditure commitment of Newmont within the Agreement Area shall be an amount determined by multiplying the number of blocks held by Newmont within the Agreement Area during the Tenure Year by $600.00. Where a block has been held by Newmont for a part of the Tenure Year, the amount of $600.00 shall be adjusted pro rata for the period of time the block was so held. Newmont may elect to spend the total expenditure commitment on the whole or any one or more of the blocks during the Tenure Year without affecting the standing of any of the Exploration Licences within the Agreement Area.
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Related to Expenditure Commitment

  • Available Commitment After giving effect to the proposed Borrowing, the Principal Obligations will not exceed the Available Commitment and the aggregate Principal Obligations will not exceed the Maximum Commitment.

  • Time Commitment The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company such time as shall be reasonably necessary to conduct the business and affairs of the Company in an appropriate manner consistent with the terms of this Agreement. The Company acknowledges that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and may provide services to Persons other than the Company or any of its Affiliates.

  • The Commitment Subject to the terms and conditions of this Agreement, Lender agrees to make term loans to Borrower from time to time from the Closing Date and to, but not including, the Termination Date in an aggregate principal amount not exceeding the Commitment. The Commitment is not a revolving credit commitment, and Borrower does not have the right to repay and reborrow hereunder. Each Loan requested by Borrower to be made on a single Business Day shall be for a minimum principal amount set forth in the Supplement, except to the extent the remaining Commitment is a lesser amount.

  • Maximum Capital Expenditures Make or commit to make, or allow any of its Subsidiaries to make or commit to make, Capital Expenditures exceeding, in the aggregate for each Fiscal Year until the Termination Date, the greater of (A) EBITDA for such Fiscal Year, less the sum of (I) cash interest expense for such Fiscal Year, plus (II) amounts paid under Section 2.03 and all principal payments under the GECC Capital Lease and the NTFC Capital Lease (a) during Fiscal Year 2002 (for purposes of calculating the maximum Capital Expenditures for Fiscal Year 2003) or (b) during Fiscal Year 2004 or the applicable Fiscal Year thereafter (for purposes of calculating the maximum Capital Expenditures for Fiscal Year 2004 or the applicable succeeding Fiscal Year, as the case may be), or (B) $10,000,000 for Fiscal Year 2003 and $15,000,000 for each Fiscal Year thereafter. For purposes of calculating maximum Capital Expenditures, the amount calculated in item (II) above shall be deemed not to have exceeded $20,000,000 for Fiscal Year 2004 and shall be deemed not to have exceeded $30,000,000 for Fiscal Year 2005. Compliance with this Section 5.02(q)(i) shall be measured at the end of each Fiscal Year, commencing with Fiscal Year 2003. To the extent the Borrower’s actual Capital Expenditures for any Fiscal Year are less than the maximum Capital Expenditures for such Fiscal Year computed as aforesaid, the Borrower may increase Capital Expenditures for the subsequent Fiscal Year by an amount equal to the amount by which such maximum Capital Expenditures exceed such actual Capital Expenditures, but not by an amount which exceeds $5,000,000. For the purposes of this Section 5.02(q)(i) only, Capital Expenditures shall not include the Contingent Payments and any payment made in respect of that certain litigation arising from or in relating in any way to the use of rights of way granted to the Borrower by Mississippi Power Company; provided, that, to the extent that payment made in respect of such litigation is equal to or greater than $5,000,000, the Borrower shall deliver to the Agent prior to the payment thereof, a statement that the Borrower will have not less than $11,500,000 in cash and Cash Equivalents (excluding any insurance proceeds deposited with the Collateral Agent as described in clause (C) of the proviso in the definition of “Extraordinary Receipts”) after making such payment, certified by the Chief Financial Officer of the Parent.

  • Reduction of Total Commitment The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.

  • Total Commitment The sum of the Commitments of the Banks, as in effect from time to time.

  • Commitment Within 20 days after the Title Company receives a copy of this contract, Seller shall furnish to Buyer a commitment for title insurance (Commitment) and, at Buyer's expense, legible copies of restrictive covenants and documents evidencing exceptions in the Commitment (Exception Documents) other than the standard printed exceptions. Seller authorizes the Title Company to deliver the Commitment and Exception Documents to Buyer at Buyer's address shown in Paragraph 21. If the Commitment and Exception Documents are not delivered to Buyer within the specified time, the time for delivery will be automatically extended up to 15 days or 3 days before the Closing Date, whichever is earlier. If the Commitment and Exception Documents are not delivered within the time required, Buyer may terminate this contract and the xxxxxxx money will be refunded to Buyer.

  • Minimum Commitment If for a certain Service a minimum commitment has been determined in the Agreement, the Customer guarantees to respect the minimum commitment described in the Agreement during the entire period of the Agreement. If the Customer does not respect this minimum commitment, the Customer shall pay the compensation mentioned in the Agreement. If no compensation has been mentioned in the Agreement, the Customer has to pay the applicable Charges for the respective Service, or the average of the applicable Charges if different Charges are applied for the respective Service, per missing number of its minimum commitment. Services that are timely cancelled by the Customer or Services for which the Customer has paid a cancellation fee , do not, even not partly, release the Customer from its obligation to respect the minimum commitment . Services cancelled as due to Force Majeure and Services cancelled by Lineas for other reasons than Force Majeure, will be considered as a Services ordered and paid for by the Customer. Services cancelled by the Customer or by Lineas because of holidays do not, even not partly, release the Customer from its obligation to respect its minimum commitment.

  • Commitment Amount With respect to any Portfolio Asset that is a Delayed-Draw Loan as of any date of determination, the maximum outstanding principal amount of such Portfolio Asset that a registered holder of the amount of such Portfolio Asset held by the Issuer would on such date be obligated to fund (including all amounts previously funded and outstanding, whether or not such amounts, if repaid, may be reborrowed).

  • Revolving Commitment Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, each Lender severally agrees to make available to the Borrower such Lender's Revolving Commitment Percentage of revolving credit loans requested by the Borrower in Dollars ("REVOLVING LOANS") from time to time from the Closing Date until the Maturity Date, or such earlier date as the Revolving Commitments shall have been terminated as provided herein; PROVIDED, HOWEVER, that the sum of the aggregate outstanding principal amount of Revolving Loans shall not exceed ONE HUNDRED MILLION DOLLARS ($100,000,000) (as such aggregate maximum amount may be reduced from time to time as provided in Section 3.4, the "REVOLVING COMMITTED AMOUNT"); PROVIDED, FURTHER, (A) with regard to each Lender individually, such Lender's outstanding Revolving Loans shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount, and (B) the sum of the aggregate outstanding principal amount of Revolving Loans PLUS LOC Obligations PLUS Swingline Loans shall not exceed the Revolving Committed Amount. The initial advance of the Revolving Loans on the Closing Date shall consist solely of Base Rate Loans. Thereafter, Revolving Loans may consist of Base Rate Loans or Eurodollar Loans, or a combination thereof, as the Borrower may request; PROVIDED, HOWEVER, that no more than 15 Eurodollar Loans shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period). Revolving Loans hereunder may be repaid and reborrowed in accordance with the provisions hereof.

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