Exploration Expenses Clause Samples

The Exploration Expenses clause defines how costs incurred during the exploration phase of a project, such as searching for minerals, oil, or other resources, are to be handled between the parties involved. Typically, this clause outlines which expenses qualify as exploration costs, how they are to be documented, and the method for reimbursement or cost-sharing among partners. Its core practical function is to ensure transparency and fairness in allocating the financial burden of exploration activities, thereby reducing disputes and clarifying each party’s financial responsibilities.
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Exploration Expenses. Exploration Expenses" shall mean and include expenditures made by ANGLOGOLD in its sole discretion, after the Effective Date, to ascertain the existence, location, extent or quantity of any deposit of Minerals on the Properties including, without limitation, drilling and other exploration activities directly related to drilling, mapping, surveying, sampling, assaying, geophysical work, metallurgical testing, feasibility studies, geochemical analyses, road building, and trenching, as well as all land acquisition costs and land holding costs made by or reimbursed to RIMFIRE by ANGLOGOLD for the staking and location of mining claims, lease rental payments and advance royalty payments and all Governmental Rentals.
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Exploration Expenses. Exploration Expenses incurred in a given year after the Commencement of Commercial Production within the Area of Interest shall be deducted up to an annual maximum of ten million U.S. Dollar in the year they are incurred. Excess amounts shall be capitalized without interest and deducted over the immediately following three (3) year period.
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Exploration Expenses. Globetech shall fund exploration expenditures on the Amapa Claims in the following amounts: (i) at least $250,000 by December 31, 2004; and (ii) an additional $1,500,000 by December 31, 2005.
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Exploration Expenses. Subject to Sections 2.2(b), 2.2(c), and 2.5, in order to retain and exercise its Earn-In Right, Nevada Canyon shall (i) incur a minimum of One Million United States Dollars (US$1,000,000) in Exploration Expenses during the first Annual Period, and (ii) incur a minimum of Two Million United States Dollars (US$2,000,000) in Exploration Expenses during each of the second and third Annual Periods, so that by the end of the third Annual Period (the “Earn-in Due Date”), Nevada Canyon has incurred an aggregate of Five Million United States Dollars (US$5,000,000.00) in Exploration Expenses; provided, however, that Nevada Canyon may incur more Exploration Expenses for any Annual Period than the minimum amount required, and may carry forward the excess amount to reduce the minimum amount required for any subsequent Annual Period. The minimum amount of Exploration Expenses required to be incurred by Nevada Canyon for any Annual Period, after considering the carry-forward of excess amounts incurred in previous Annual Periods, is referred to as the “Minimum Expense Amount.” The period from the Effective Date until the Earn-in Due Date or such earlier date that Nevada Canyon has incurred an aggregate of Five Million United States Dollars (US$5,000,000.00) in Exploration Expenses and payments under Sections 2.2(b) and (c) is referred to as the “Earn-In Period.”
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Exploration Expenses. For the purposes of this Agreement and in accordance with the provisions of Article 4 of Supreme Decree No. 054-2008-EM, the concept of Exploration Expenses include but are not limited to the following: payments of the validity fee and/or legal penalties; expenses related to geologic mapping, surveying, sampling and/or geochemical analysis, geophysical surveys (MAG, IP etc.), geological mapping, diamond drilling and/or reverse air, laboratories, wages of local and/or foreign workers, payments to domestic and/or foreign consultants; expenses arising from the agreements reached with the communities for the use of the land surfaces, excavations, trails and/or necessary access, camps, trenches, geophysical surveying and/or any other expenses related directly or indirectly to the exploration activity that is needed for the development of the Mining Right.
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Exploration Expenses. For the purposes of this Agreement, the term "Exploration Expenses" shall mean all cash, expenses and obligations spent or incurred by CCSA or any Person on its behalf, in any activity, including the early stage of exploration, evaluation and development of mining exploration activities, on or for the Bajo Pobre Mining Property, to obtain new exploration or incorporation licenses or mining rights concessions for and on behalf of FKM or possible joint venture partners resulting from the activities carried out on the Bajo Pobre Mining Property. Such Exploration Expenses shall include but shall not be limited to land payments, duties, taxes and charges required to maintain the Bajo Pobre Mining Property and its respective mining rights, licenses and activities in proper form and enforceable; all the expenses for geophysical, geochemical and geological exploration works; all the expenses for surveying, drilling, assaying, metallurgical testing and any other expense that directly benefits the Bajo Pobre Mining Property and the exploration work carried out thereon; and a charge for the Operator, equal to 7% of the Exploration Expenses incurred by them or on their behalf, as compensation for administrative tasks and corporate, technical and administrative support which otherwise would not be charged. Proof of all such expenses must be sent by CCSA to FKM in writing within ninety (90) days of the end of each Year. For greater clarity, it is understood that the Exploration Expenses shall include, but shall not be limited to Value Added Tax, Gross Income Tax, Tax on Bank Account Debits and Credits, Tax on Bank Transfers and any other tax, duty or government levy, whether National, Provincial or Municipal, now established or to be established in the future, on the items mentioned above.
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Exploration Expenses 
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Related to Exploration Expenses

  • Acquisition Expenses Any and all expenses incurred by the Company, the Advisor, or any Affiliate of either in connection with the selection, acquisition or development of any Asset, whether or not acquired, including, without limitation, legal fees and expenses, travel and communications expenses, costs of appraisals, nonrefundable option payments on property not acquired, accounting fees and expenses, and title insurance premiums.

  • Litigation Expenses If either party successfully seeks to enforce any provision of this Agreement or to collect any amount claimed to be due under it, this party will be entitled to reimbursement from the other party for any and all of its out-of-pocket expenses and costs including, without limitation, reasonable attorneys' fees and costs incurred in connection with the enforcement or collection.

  • Transportation Expenses The reasonable and necessary expenses of transportation required in the performance of Superintendent’s official duties shall be reimbursed at the rate set by the Board for District travel.

  • COMPENSATION; EXPENSES (a) In consideration of the foregoing, the Advisor shall pay the Sub-advisor, with respect to the Fund, a fee as specified in Appendix B hereto. Such fees shall be accrued by the Advisor daily and shall be payable monthly in arrears on the first business day of each calendar month for services performed hereunder during the prior calendar month. If fees begin to accrue in the middle of a month or if this Agreement terminates before the end of any month, all fees for the period from that date to the end of that month or from the beginning of that month to the date of termination, as the case may be, shall be prorated according to the proportion that the period bears to the full month in which the effectiveness or termination occurs. Upon the termination of this Agreement with respect to the Fund, the Advisor shall pay to the Sub-advisor such compensation as shall be payable prior to the effective date of termination. (b) During the term of this Agreement, the Sub-advisor will pay all expenses incurred by it in connection with its activities under this Agreement other than the cost of securities and other investments (including brokerage commissions and other transaction charges, if any) purchased for the Portfolio. The Sub-advisor shall, at its sole expense, employ or associate itself with such persons as it reasonably believe to be particularly fitted to assist it in the execution of its duties under the Agreement. Except as set forth in Appendix B, the Sub-advisor shall not be responsible for the Trust’s, the Fund’s or the Advisor’s expenses, including any extraordinary and non-recurring expenses. (c) No fee shall be payable hereunder with respect to the Fund during any period in which the Fund invests all (or substantially all) of its investment assets in a registered, open-end, management investment company, or separate series thereof, in accordance with Section 12(d)(1)(E) under the 1940 Act, pursuant to the instruction of the Advisor and of the Trust’s Board of Trustees.

  • ALPS Compensation; Expenses (a) In consideration for the services to be performed hereunder by ALPS, the Trust on behalf of the Fund shall pay ALPS the fees listed in Appendix C hereto. Notwithstanding anything to the contrary in this Agreement, fees billed for the services to be performed by ALPS under this Agreement are based on information provided by the Fund’s investment adviser and such fees are subject to renegotiation between the parties hereto to the extent such information is determined to be materially different from what the Fund’s investment adviser originally provided to ALPS. During each year of the term of this Agreement, unless the parties shall otherwise agree and provided that the service mix and volumes remain consistent with those provided in the previous year of this Agreement, the fee that would be charged for the same services would be the base fee rate (as reflected in Appendix C) subject to an annual cost of living adjustment based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, for the Denver-Boulder-Greeley area, as published bimonthly by the United States Department of Labor, Bureau of Labor Statistics, or, in the event that publication of such index is terminated, any successor or substitute index, appropriately adjusted, acceptable to all parties. (b) ALPS will bear all expenses in connection with the performance of its services under this Agreement, except as otherwise provided herein. ALPS will not bear any of the costs of Fund personnel. Other Fund expenses incurred shall be borne by the Fund or the Fund’s investment adviser, including, but not limited to, initial organization and offering expenses; litigation expenses; taxes; costs of preferred shares; expenses of conducting repurchase offers for the purpose of repurchasing Fund shares; transfer agency and custodial expenses; interest; Trust trustees’ fees; brokerage fees and commissions; state and federal registration fees; advisory fees; insurance premiums; fidelity bond premiums; Fund and investment advisory related legal expenses; costs of maintenance of Fund existence; printing and delivery of materials in connection with meetings of the Trust’s trustees; printing and mailing of shareholder reports, prospectuses, statements of additional information other offering documents, supplements, proxy materials and other communications to shareholders; securities pricing data and expenses in connection with electronic filings with the U.S. Securities and Exchange Commission (the “SEC”).