Exploration and Development Expenditures Sample Clauses
The 'Exploration and Development Expenditures' clause defines how costs related to exploring and developing a resource, such as oil, gas, or minerals, are to be handled under an agreement. It typically outlines which expenses qualify as exploration or development costs, how these costs are to be documented, and the process for approval or reimbursement between parties. This clause ensures that all parties have a clear understanding of financial responsibilities and cost-sharing, thereby reducing disputes and promoting efficient project management.
POPULAR SAMPLE Copied 1 times
Exploration and Development Expenditures. Exploration and Development Expenditures shall mean the Company’s total costs and expenses incurred with respect to examining, exploring, and developing the Ashdown Mine pursuant to the Ashdown Joint Venture Agreement and all matters connected therewith incurred after the date of the Ashdown Joint Venture Agreement and prior to the Commencement of Commercial Production, including, without limitation, costs and expenses incurred with respect to the design and construction of any and all milling facilities, together with costs and expenses relating to geological, geochemical, and geophysical studies, feasibility studies, exploration and development drilling, sampling and assaying, mine design and development, the cost of any mining equipment or machinery purchased prior to the Commencement of Commercial Production, compliance with environmental and regulatory requirements, pre-production stripping, the construction of roads connecting the Ashdown mine to a central road system, and any other similar or related expenses incurred prior to the Commencement of Commercial Production and any attorney’s fees reasonably related to any of the foregoing.
Exploration and Development Expenditures. Costs incurred by Lessee after the effective date hereof with respect to exploring and developing the leased premises and all matters connected therewith including, but not limited to, costs relating to geological, geochemical and geophysical studies, exploration and developmental drilling, sampling and assaying, mine design and development, acquisition of mining or processing equipment or machinery, direct expenses of making application for and obtaining environmental and regulatory permits from government agencies (including reasonable attorney's fees), costs to patent the unpatented claims and any other costs which would be included within mining costs and/or milling and processing costs if such costs were incurred after the Commencement of Commercial Production. If any of the costs otherwise includable in Lessee's costs as set forth above are incurred partly for the benefit of any other properties or interests of Lessee, only the portion of such costs reasonably attributable to development and operation of the leased premises in accordance with GAAP shall be included.
Exploration and Development Expenditures. Costs incurred by Lessee after the effective date hereof with respect to exploring and developing the leased premises and all matters connected therewith including, but not limited to, costs relating to geological, geochemical and geophysical studies, exploration and developmental drilling, sampling and assaying, mine design and development, acquisition of mining or processing equipment or machinery, direct expenses of making application for and