Exploration Licence Sample Clauses

Exploration Licence an exploration licence, or an assessment lease issued under the Mining Act 1992 as described on page 1 of this Agreement, including as renewed or varied.

Exploration Licence. (1) His Majesty in Council may issue an exploration licence in respect of the whole or any part of the area of land applied for, and every exploration licence issued under this Act may, subject to the following provisos, authorise the licensee thereof to explore for petroleum over the whole or any part of the area of land specified in that licence: Provided that an exploration licence shall not be issued in respect of an area of land which has already been covered by a petroleum agreement entered into under section 8: And provided further that nothing in this section shall prevent His Majesty in Council from issuing in respect of the same area of land more than one exploration licence or another exploration licence or licences to other person or persons. (2) Every licensee of an exploration licence shall enjoy rights and liberty granted under his licence during the continuance thereof in common with other licensees to whom exploration licences in respect of the same area may have been issued or may hereafter be issued. (3) Every exploration licence shall be for an initial period of 2 years and thereafter may be extended from time to time upon an application for the extension thereof made and supported by evidence that the licensee had in fact carried out during the currency of the licence exploration work upon a reasonable scale. (4) The licensee of an exploration licence may at any time apply to His Majesty in Council for a petroleum agreement in respect of the whole or any part of the area held under his exploration licence; and upon the issue of a petroleum agreement covering such area or any part thereof all exploration licences covering such area or any part thereof shall determine Petroleum Mining Act CAP. 134 Section 8 without the Government of Tonga being liable to pay any compensation to licensees. (5) His Majesty in Council may cause to be prepared and published a model exploration licence. An exploration licence shall ordinarily be in the form and contain the terms and conditions of such model exploration licence: Provided that in respect of any exploration licence, His Majesty in Council may make such modifications and exclusions and may add such additional clauses as His Majesty in Council may deem fit. (Substituted by Act 8 of 1985.)

Exploration Licence. (i) Except as disclosed in the Disclosure Letter, the Exploration Licence is the only mineral concession, claim, lease, licence, permit or other right to explore for and prospect for Minerals that the Corporation or any of its Subsidiaries have any legal or equitable interest in and that is required to explore the project. (ii) The Exploration Licence is in good standing and is held by the Corporation or its Subsidiaries free and clear of all Encumbrances and the Corporation and its Subsidiaries are lawfully authorized to hold the interests of the Corporation and its Subsidiaries in the Exploration Licence. (iii) The Exploration Licence has been obtained and maintained in compliance with applicable Laws. (iv) Except as disclosed in the Disclosure Letter, all payments due and payable in respect of the Exploration Licence have been paid. (v) Any and all material filings required to be filed in respect of the Exploration Licence have been filed. (vi) Except as disclosed in the Disclosure Letter, the Corporation and or its Subsidiaries have the exclusive right to deal with the Exploration Licence and, except as provided in this Agreement, no other person has any material interest in the Exploration Licence or any right to acquire such interest. (vii) Neither the Corporation nor any of its Subsidiaries have received any written notice or, to the Corporation’s knowledge, any oral notice, from any Governmental Entity or any person with jurisdiction or applicable authority of any expropriation or revocation, or any intention to expropriate or revoke, the Corporation’s and its Subsidiaries’ interests in the Exploration Licence. (viii) Except as disclosed in the Disclosure Letter, no royalty, commission or similar payment is payable by the Corporation or any of its Subsidiaries in respect of the Exploration Licence.

Exploration Licence. His Majesty in Council may issue an exploration licence in respect of the whole or any part of the area of land applied for, and every exploration licence issued under this Act may, subject to the following provisos, authorise the licensee thereof to explore for petroleum over the whole or any part of the area of land specified in that licence: Provided that an exploration licence shall not be issued in respect of an area of land which has already been covered by a petroleum agreement entered into under section 8: And provided further that nothing in this section shall prevent His Majesty in Council from issuing in respect of the same area of land more than one exploration licence or another exploration licence or licences to other person or persons.