Expenditure Commitments Sample Clauses

Expenditure Commitments. Exhibit 3.13 contains a complete and accurate list of (i) all authorities for expenditures ("AFE") to drill, rework or plug and abandon Wellx xx for other capital expenditures pursuant to any of the Contracts that have been proposed by any person on or after January 1, 1998, whether or not accepted by the Company or any other person, and (ii) all AFE and oral or written commitments to drill, rework or plug and abandon Wellx xx for other capital expenditures pursuant to any of the Contracts for which all of the activities anticipated in such AFE or commitments have not been completed by the date of this Agreement.
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Expenditure Commitments. (i) Reimburse to Ammogem Canada exploration and development costs of up to $10,000 by December 31, 2006, which work shall be conducted by Ammogem Canada under the direction of a qualified geologist or project engineer.
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Expenditure Commitments. 4.1 The Option will be exercised by the Optionee: (a) by paying the Optionor $500,000 as follows (i) $100,000 within 5 business days of the Effective Date ; (ii) a further $100,000 on or before the first anniversary of the Effective Date; (iii) a further $100,000 on or before the second anniversary of the Effective Date; (iv) a further $100,000 on or before the third anniversary of the Effective Date; and (v) a further $100,000 on or before the fourth anniversary of the Effective Date; (b) by issuing to the Optionor a total of 9,000,000 common shares in capital stock of the Optionee, representing 25% of the pre-funding share structure of the Optionee, and by requiring Xxxxxxx Xxxxxx to cancel 56,000,000 restricted affiliate shares in the capital stock of the Optionee; and (c) by incurring minimum Exploration Costs of $8,000,000 on the Property, as follows: (i) $1,600,000 on or before the first anniversary of the Effective Date; (ii) a further $1,600,000 on or before the second anniversary of the Effective Date; (iii) a further $1,600,000 on or before the third anniversary of the Effective Date; (iv) a further $1,600,000 on or before the fourth anniversary of the Effective Date; and (v) a further $1,600,000 on or before the fifth anniversary of the Effective Date. 4.2 Provided the Optionee is not in default of the requirements of 4.1, once the Optionee has incurred: (a) $4,000,000 of the $8,000,000 in Exploration Costs set out in sub-paragraph 4.1(c) the Optionee will have immediately acquired an initial 40%, and (b) the entire $8,000,000 in Exploration Costs set out in sub-paragraph 4.1(c) the Optionee will have immediately acquired an additional 40% (80% total), undivided right, title and interest in and to the Property, free and clear of all charges, encumbrances and claims, and the Optionor will execute and deliver to the Optionee, such transfer(s) as will be effective to transfer and convey the 40% and further 40% undivided legal and beneficial interest in the Property. The Optionor also agrees to do all things necessary to enable the Optionee to register its interests in the Property. 4.3 Until the Optionee has earned in its 80% interest in the Property, the Optionor will keep the Property in good standing, free and clear of all liens and encumbrances resulting from its activities, by the doing and filing of assessment work as described in paragraph 7.2(a).
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Expenditure Commitments provide funding for or expend, in accordance with the terms and conditions of this Agreement, minimum cumulative Expenditures for Exploration and Development work on any of the mineral property concession interests comprising the Property of an aggregate of at least U.S. $825,000 within five years from the Effective Date hereof (which period in time from the Effective Date to the end of five years from the Effective Date being hereinafter referred to as the "Minimum Expenditure Period") in the following manner: (i) no less an initial U.S. $25,000 of the Expenditures for Exploration and Development work shall be expended, or cause to be expended, by the Optionee on any of the mineral property concession interests comprising the Property within one year from the Effective Date; (ii) no less an additional U.S. $200,000 of the Expenditures for Exploration and Development work shall be expended, or cause to be expended, by the Optionee on any of the mineral property concession interests comprising the Property within two years from the Effective Date; (iii) no less an additional U.S. $200,000 of the Expenditures for Exploration and Development work shall be expended, or cause to be expended, by the Optionee on any of the mineral property concession interests comprising the Property within three years from the Effective Date; (iv) no less an additional U.S. $200,000 of the Expenditures for Exploration and Development work shall be expended, or cause to be expended, by the Optionee on any of the mineral property concession interests comprising the Property within four years from the Effective Date; and (v) no less a final U.S. $200,000 of the Expenditures for Exploration and Development work shall be expended, or cause to be expended, by the Optionee on any of the mineral property concession interests comprising the Property within five years from the Effective Date; provided, however, that: (A) any Expenditures for Exploration and Development work expended in any year in excess of the minimum Expenditures required under this paragraph "3.2(c)" shall be fully credited against the Expenditures for Exploration and Development work the Optionor is required to expend in a subsequent year herein such that total minimum cumulative Expenditures for Exploration and Development work of at least U.S. $825,000 must be expended, or cause to be expended, by the Optionee on any of the mineral property concession interests comprising the Property prior to the termination of the...
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Expenditure Commitments. To the Knowledge of Aspen there were no commitments or proposals by third parties for the work over of any well, the drilling of a new well, installation of any equipment which would in the aggregate result in the expenditure after June 1, 1997, of more than $5,000.00.
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Expenditure Commitments. 7.1. All expenditure commitments related to the Business Plan Commitments shall be expressed in nominal terms with respect to the relevant Operator Year in which such Business Plan Commitments are to be delivered. 7.2. For the avoidance of doubt, all amounts which SRT has committed (whether unconditionally or otherwise) pursuant to this Schedule 1.6 to expend in connection with improvements to track, Stations or Depots shall be in addition to any expenditure made by Network Rail as part of its infrastructure improvements or maintenance programme to the extent such expenditure is not directly funded or reimbursed by SRT.
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Expenditure Commitments. Provide funding of minimum cumulative expenditures for exploration and development work on the Claims of at least $85,000 under the direction of a qualified geologist or project engineer as follows: (i) $10,000 of expenditures to be incurred or caused to be incurred, by the Optionee on the Claims by January 1, 2002; (ii) No less than a further $25,000 of expenditures to be or caused to be incurred, by the Optionee on the Claims by October 31, 2002; and (iii) No less than a further $50,000 of Expenditures to be incurred, or caused to be incurred by the Optionee on the Claims by January 1, 2003.
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Expenditure Commitments 
Sample 1

Related to Expenditure Commitments

  • 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 Commitments and Credit Extensions 2.01 The Loans.

  • Objectives and Commitments 7.1 The Objectives of the Parties to this Agreement are: (a) to promote fair, cooperative and productive workplace relations in the building and construction industry; (b) to provide a detailed set of agreed employment benefits, conditions, rights and obligations; (c) to explore the potential for innovation and new technologies; (d) to consider any benefits of alternative hours of work; (e) to support the establishment of consultative bodies to consider the impact of climate change on the working conditions in the industry; (f) to establish practices that support opportunities for a diversified workforce; (g) to support the implementation of highest possible levels of OHS practices, procedures and training; (h) to ensure that fair and equitable employment practices are applied in the workplace; (i) to improve efficiency in the workplace; (j) to provide for the establishment and observance of an effective disputes settlement procedure that involves Employees and their representatives, when requested, at the earliest stage of any dispute or potential dispute. 7.2 The Parties to this Agreement commit themselves to ensuring that: (a) The efficiency measures contained in this Agreement are implemented and lead to real gains in productivity. (b) The principles of industry modernisation are realised during the life of this Agreement (in accordance with Part 11). (c) Productivity gains will not be achieved at the expense of health and safety standards. (d) The disputes settlement procedures provided herein are strictly adhered to. (e) Employment should wherever possible be full time and on going.

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

  • 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.

  • The Commitments (a) Subject to and upon the terms and conditions set forth herein, each Lender severally agrees to make on and after the first Initial Borrowing Date and prior to the Commitment Termination Date and at the times specified in Section 2.02 term loans to the Borrower (each a “Loan” and collectively the “Loans”), which Loans (i) shall bear interest in accordance with Section 2.06, (ii) shall be denominated and repayable in Dollars, (iii) shall be disbursed on any Borrowing Date, (iv) disbursed on any Borrowing Date shall not exceed on such Borrowing Date for all Lenders the Dollar Equivalent of the maximum available amount for such Borrowing Date as set forth in Section 2.02, (v) disbursed on any Borrowing Date shall not exceed for any Lender the Dollar Equivalent of the Commitment of such Lender on such Borrowing Date, (vi) disbursed on any Borrowing Date shall not exceed the Dollar Availability on any such Borrowing Date and (vii) shall not in the aggregate exceed the Dollar Maximum Amount. (b) Loans disbursed to indirectly fund installments and delivery payments to the Yard in respect of (x) Vessel 1 together with 50% of the Loans disbursed to fund payments of the Hermes Premium hereunder shall be herein referred to as “Tranche A Loans” and (y) Vessel 2 together with 50% of the Loans disbursed to fund payments of the Hermes Premium hereunder shall be herein referred to as “Tranche B Loans”.

  • 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.

  • Additional Commitments The Parties may negotiate commitments with respect to measures affecting trade in services not subject to scheduling under Article 106 (National Treatment) or Article 107 (Market Access), including those regarding qualifications, standards or licensing matters. Such commitments shall be inscribed in a Party's Schedule.

  • Revolving Commitments (a) Subject to the terms and conditions hereof, each Lender severally agrees to make revolving credit loans (“Revolving Loans”) to the Borrower from time to time on any Business Day during the Commitment Period, at such times as the Borrower may request in accordance with Section 2.2, in an aggregate principal amount at any one time outstanding which, when added to such Lender’s Applicable Percentage of the aggregate principal amount of Swingline Loans then outstanding, does not exceed the amount of such Lender’s Commitment; provided, however, that (i) no Revolving Loan shall be made to the extent the aggregate unpaid principal amount of all Loans would exceed the Total Commitments, (ii) no Borrowing Base A Loans shall be made to the extent that the aggregate unpaid principal amount of all Borrowing Base A Loans would exceed the aggregate Loan Value of the Pledged Eligible Assets (including the Pledged Eligible Assets referred to in Section 2.2(a)(ii) with respect to such Revolving Loan) and (iii) no Borrowing Base B Loans shall be made to the extent that the aggregate amount of all Borrowing Base B Loans would exceed the Borrowing Base B Limit; provided further that Borrowing Base B Loans may not be borrowed on any date in any rolling period of 90 consecutive days if Borrowing Base B Loans have already been outstanding for 30 days during such period. During the Commitment Period, the Borrower may borrow, prepay the Revolving Loans in whole or in part, and reborrow, all in accordance with the terms and conditions hereof. (b) The Borrower shall repay all outstanding Revolving Loans on the Termination Date. (c) The failure of any Lender to make any Revolving Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Revolving Loans as required.

  • Purchase Commitments Company has no purchase commitments for inventory items or supplies that, together with amounts on hand, constitute in excess of three months normal usage, or which are at an excessive price.

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