Formation of a Joint Venture. With the signing of this Agreement, the Parties have signified their agreement to the formation of a Joint Venture under the laws of Republic of Malawi. Implementation of the formalities for merging is the responsibility of TFP.
Formation of a Joint Venture. On 28 June 2012, SPDPL has entered into a JV Agreement with CIPL and KLRPL for the purpose of owning and developing the Land. The joint venture is represented through the JVC, which is owned as to 30% by SPDPL, 40% as to CIPL and as to 30% by KLRPL. Mr. Xxx is a director of SingXpress Kaylim Pte Ltd, an indirect 80% owned subsidiary of SingXpress. The remaining 20% of SingXpress Kaylim Pte Ltd is held by Xxx Xxx. Mr. Xxx (together with his associate) has beneficially interest in Xxx Xxx and thus a connected person of the Company under the Listing Rules. The entering into the JV Agreement constitutes a connected transaction of the Company under Chapter 14A of the Listing Rules and therefore is subject to the independent shareholders’ approval requirement, announcement and reporting requirements under the Listing Rules. Written approval of the execution and performance of the JV Agreement, the transactions thereby contemplated and the Possible Economic Transfer was on 28 June 2012 obtained from the Closely Allied Group of Shareholders who together holding approximately 70.45% of the current issued share capital of the Company. As no shareholders of the Company are required to abstain from voting at a general meeting to approve the JV Agreement and the transactions thereby contemplated, the written approval of the Closely Allied Group of Shareholders has been accepted under the Listing Rules in lieu of a majority vote at a general meeting of the Company to approve the JV Agreement, the transactions thereby contemplated and the Possible Economic Transfer. A circular containing, among others things, details of the JV Agreement and other disclosure requirements under the Listing Rules will be dispatched to the Shareholders on or before 31 August 2012. Further to the announcement made on 11 May 2012 in relation to the joint tender for the land parcel at Tampines Central 0/Xxxxxxxx Xxxxxx 0/Xxxxxxxx Xxxxxx 0, the Board is pleased to announce that on 28 June 2012, SPDPL has entered into a JV Agreement with CIPL and KLRPL for the purpose of owning and developing the Land. The joint venture is represented through the JVC, which is owned as to 30% by SPDPL, 40% as to CIPL and as to 30% by KLRPL. THE JV AGREEMENT Date: 28 June 2012 Parties: (1) SPDPL;
Formation of a Joint Venture. Should Black Range complete due diligence to its satisfaction the two parties shall form a joint venture to conduct further exploration and to develop the Projects. Black Range Minerals – Uranerz Energy Red Desert Projects, Wyoming –Agreement
Formation of a Joint Venture. Prior to exercise of the Option or, if applicable, the Additional Options described in paragraph 4, AMERA and GIX will incorporate, for each Property in which it acquires an interest, a holding company in the British Virgin Islands (hereinafter called “Holdco”) owned by AMERA and GIX in proportion to their respective interests in the Properties, and cause Holdco to incorporate a subsidiary in Peru (a “Peruco”). Upon AMERA earning its fifty-one (51%) (or, if applicable, its sixty-one or seventy percent (61% or 70%) interest in a Property, GIX will transfer the Property to a Peruco and AMERA and GIX will associate themselves as a single purpose joint venture through Holdco (a “Joint Venture”) for the purposes of continuing exploration and development on the Property with a view to placing the Property or a portion thereof into commercial production. In order to maintain its interest in Holdco, each party shall contribute to work programs in proportion to its interest in Holdco. If a party elects not to contribute to a budget, its shareholdings in Holdco shall be reduced, such that a party’s interests at any time, shall be calculated by dividing the subject party’s deemed and actual contributions by the deemed and actual contributions of the other party and multiplying the resulting number by 100. If at any time a party’s interest in Holdco is reduced below ten percent (10%), it shall be deemed to have conveyed its interest in Holdco to the other party in consideration of the right to receive a royalty equal to ten percent (10%) of Net Profits (NPI) or two percent (2%) of Net Smelter Returns (NSR), and it shall cease to hold any interest in Holdco. The other party will always have the right to purchase one-half of the royalty for US $1,000,000. The party receiving the royalty shall elect at its sole discretion between the NPI or NSR as soon as its interest in Holdco ceases to be at least ten percent (10%). AMERA and GIX will negotiate in good faith and agree upon the form of agreement (the “Joint Venture Agreement” or “JVA”) governing each Joint Venture. Each Joint Venture Agreement shall be substantially in the form of Joint Venture Agreement published by the Continuing Legal Education Society of British Columbia in 1999 as part of its mining law materials and contain, among other things:
Formation of a Joint Venture. JOGMEC and Almaden hereby agree to form the Exploration JV with the following scope and purposes:
Formation of a Joint Venture. In order to commercialize any Development Compound or Licensed Product in the Joint Territory, the JMT shall establish a separate JV for such commercialization of each Development Compound or Licensed Product (different dosages, routes of administration and indications of the same Compound shall be deemed a single Development Compound or Licensed Product). The Parties hereby agree that the JVs shall be established to the principles set forth in Exhibit F not later than the commencement of Phase 3 Clinical Trial for the each Development Compound. Sanofi-Synthelabo shall be the Controlling Party (as defined in Exhibit F) of the first (to be established) JV, and Cephalon shall be the Controlling Party of the second JV. Thereafter, the Controlling Party shall alternate between Sanofi-Synthelabo and Cephalon.
Formation of a Joint Venture. In the event that $750,000 U.S. is deposited in the Trust Account and either (a) such amount is spent or committed to be expended within the time limits set forth in Section 5 or (b) such amount is not spent within forty-five (45) weeks of the date that funds are first deposited in the Trust Account because expenditure of such funds is not required under the provisions of Section 5, then Arngre and Xxxxxx (or entities controlled by them) shall enter into a joint venture with respect to the Project based on the Rocky Mountain Mineral Law Foundation's Form 5 (Model Mining Joint Venture Agreement) (the "Form 5 Joint Venture" and "Form 5") or, if formation of the Form 5 Joint Venture is impossible under applicable law, Arngre and Xxxxxx shall enter into another legal arrangement structured so that it has business and economic consequences approximating as closely as possible those that would exist under the Form 5 Joint Venture. The Form 5 Joint Venture shall contain the provisions and modifications set forth below. All capitalized terms not otherwise defined herein shall have the meanings given them in Form 5.
Formation of a Joint Venture. 7.1 Upon Yukon exercising the Earn-In Option and earning a 75% Participating Interest in the Property by satisfying the conditions described hereinbefore (the “Earn-In Completion Date”) and unless Virginia notifies Yukon that it will be exercising its Additional Option to sell an additional 25% undivided Participating Interest in the Property, Yukon and Virginia agree to form and participate in a joint venture (the “Joint Venture”) for the purpose of further exploration and development work on the Property and if warranted, the Operation of one or more mines thereon.
Formation of a Joint Venture. JTA and ATM (sometimes hereinafter referred to as the "JOINT VENTURE PARTNERS" or "PARTIES") hereby agree to form a joint venture to be known as XxxxXxxxxXxxxx.xxx (the "JOINT Venture"). The type and nature of the entity to be formed by the Parties in order to facilitate the operation of the business of the Joint Venture (the "JOINT VENTURE ENTITY") and the country or state of the formation of the Joint Venture Entity will be determined by ATM, with JTA's approval (which shall not be unreasonably withheld).
