Expenditure Commitment Sample Clauses

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. 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. 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. 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.
Sample 1
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.
Sample 1
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.
Sample 1
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. 8.2 The amount of $600.00 referred to in sub-clause 8.1 shall be adjusted annually with effect from the first day of the relevant Tenure Year subsequent to the first Tenure Year by multiplying that amount by an escalator calculated in accordance with the formula: E = CPI² CPI¹ Where: E is the escalator CPI² is the Consumer Price Index (All Groups) – Weighted Average Rate for capital cities as published by the Australian Bureau Statistics Catalogue No. 6401.0 being the index number published in respect of the quarter ended 31 December in the year prior to the year of calculation. CPI¹ is the Consumer Price Index (All Groups) – Weighted Average Rate for capital cities as published by the Australian Bureau of Statistics Catalogue No. 6401.0 being the index number published in respect of the quarter during which the Commencement Date occurred. 8.3 Within 2 months following the end of a Tenure Year Newmont shall advise the Secretary of its Exploration Expenditure during the Tenure Year and shall if required make available to the Secretary or his nominee for audit all relevant documentation and other such material as may in the opinion of the Secretary be required to substantiate expenditure by Newmont pursuant to this Clause. 8.4 If in any Tenure Year during the term of this Agreement Newmont is or forms the opinion that it may be prevented by an event beyond its reasonable control from expending the minimum amount required to be expended pursuant to this Agreement, Newmont shall give notice to the Secretary within 30 days of the event and the Secretary may, if he or she is satisfied that the notice is based on reasonable grounds, reduce the minimum expenditure commitment during that Tenure Year taking into account the nature and extent of the event specified in Newmont's notice.
Sample 1
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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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Related to Expenditure 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.

  • Expenditure Limit The Contractor shall notify the County of Orange assigned Deputy Purchasing Agent in writing when the expenditures against the Contract reach 75 percent of the dollar limit on the Contract. The County will not be responsible for any expenditure overruns and will not pay for work exceeding the dollar limit on the Contract unless a change order to cover those costs has been issued.

  • 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 The Parent and the Borrower will, and will cause each Consolidated Subsidiary to, not make Capital Expenditures on a consolidated basis that exceed $30,000,000 in any fiscal year (the “Base Capital Expenditure Amount”). Notwithstanding anything to the contrary, the Base Capital Expenditure Amount shall be increased by the following amounts: (i) to the extent that the aggregate amount of Capital Expenditures made by the Parent and its Consolidated Subsidiaries in any fiscal year is less than the Base Capital Expenditure Amount, the amount of such difference may be carried forward and used to make Capital Expenditures in succeeding fiscal years, provided that in any fiscal year, the amount permitted to be applied to make Capital Expenditures pursuant to this clause (i) shall in no event exceed an amount equal to 75% of the unused portion of the Base Capital Expenditure Amount for such fiscal year (without giving effect to any prior adjustments), (ii) if no Default or Event of Default has occurred and is continuing, or would result after giving effect thereto, the Parent and its Consolidated Subsidiaries may make additional Capital Expenditures to the extent that the amount of such excess is deducted from the Base Capital Expenditure Amount in succeeding fiscal years, provided that in any fiscal year, the amount permitted to be applied to make Capital Expenditures pursuant to this clause (ii) shall in no event exceed an amount equal to 25% of the Base Capital Expenditure Amount (without giving effect to any prior adjustments) and (iii) the Base Capital Expenditure Amount shall exclude any Capital Expenditures that are funded with the Available Credits; provided that, at the time of such Capital Expenditures, the Borrower shall deliver a certificate of a Financial Officer stating the portion of Capital Expenditures that is being made from the Available Credit, and setting forth a calculation of the Available Credit immediately before and immediately after such Capital Expenditures.

  • Capital Expenditure Make or incur any Capital Expenditure if, after giving effect thereto, the aggregate amount of all Capital Expenditures by Borrower in any fiscal year would exceed the amount set forth on the Schedule;

  • 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.

  • Commitment of Current Revenues Only In the event that, during any term hereof, the Commissioners Court does not appropriate sufficient funds to meet the obligations of County under this Agreement, County may terminate this Agreement upon ninety (90) days written notice to Company. County agrees, however, to use reasonable efforts to secure funds necessary for the continued performance of this Agreement. The parties intend this provision to be a continuing right to terminate this Agreement at the expiration of each budget period of County. Agreements for the acquisition, including lease of real or personal property under Tex. Loc. Govt. Code §271.903 (Xxxxxx Supp. 1996).

  • Eligible expenditure 6.1 Eligible expenditure consists of payments by the Recipient for the Purpose. Eligible expenditure is net of VAT recoverable by the Recipient from HM Revenue & Customs and gross of irrecoverable VAT. 6.2 The Recipient shall account for the Grant on an accruals basis. This requires the cost of goods or services to be recognised when the goods or services are received, rather than when they are paid for.

  • 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.

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