Grant of Earn in Rights Sample Clauses

Grant of Earn in Rights. (a) Argonaut Holdings grants to Aurum the right, by sole funding the Company’s Century JVA Costs on the Tenement during the Earn-in Period in the total sum of $6,500,000 (Earn-in Expenditure), to take: (i) an assignment or transfer of existing Shares; or (ii) new issue of Shares equivalent to an additional 71.86% shareholding in the Company. (b) The Earn-in Period is inclusive of a 1 year initial assessment period, (commencing on the Commencement Date) (Assessment Period) during which period, Aurum will as Manager of the Company and as Operator under the Century JVA, conduct initial Exploration to assess the Tenement. (c) Notwithstanding anything else contained in this Agreement, if a Decision to Mine is made in accordance with the Century JVA, Aurum will be deemed to have met the Earn-in Expenditure under Clause 4.1(a) and to be entitled to an assignment or transfer of existing Shares or an issue of Shares under Clause 5.2.
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Grant of Earn in Rights. 2.1. In consideration of DOCC’s equity commitment set out herein, PUF hereby grants to DOCC, with effect as of the Effective Date, the Earn-in Right (as hereinafter defined). 2.2. DOCC will have the right (the “Earn-in Right”) to earn an Ownership Interest in PSC in accordance with the following schedule (the “Earn-in Schedule”): (a) earn 6.25% of PUF’s interest in PSC by satisfaction of the subscription obligations set out in subsection 2.1(a); (b) earn an additional 3.75% for a total of 10% of PUF’s interest in PSC by satisfaction of the subscription obligations set out in subsection 2.1(b); (c) earn an additional 2.5% for a total of 12.5% of PUF’s interest in PSC by satisfaction of the subscription obligations set out in subsection 2.1(c); and (d) earn an additional 7.5% for a total of 20% of PUF’s interest in PSC by satisfaction of the subscription obligations set out in subsection 2.1(d). Notwithstanding the foregoing, DOCC may complete the earn-in obligations sooner than provided by the Earn-in Schedule by the completion of the subscriptions set out in subsections 2.1(a) to (d). 2.3. DOCC shall be entitled to its 20% interest in and to the profits of PSC where PSC generates revenue prior to the commencement of full scale operations and completion of the construction commitments as if all of the items in the Earn-In Schedule have been satisfied, provided there does not exist any Events of Default (as hereinafter defined).

Related to Grant of Earn in Rights

  • Grant of Easements Provided no Event of Default has occurred and is continuing, Landlord will join in granting and, if necessary, modifying or abandoning such rights-of-way, easements and other interests as may be reasonably requested by Tenant for ingress and egress, and electric, telephone, gas, water, sewer and other utilities so long as: (a) the instrument creating, modifying or abandoning any such easement, right-of-way or other interest is satisfactory to and approved by Landlord (which approval shall not be unreasonably withheld, delayed or conditioned); (b) Landlord receives an Officer’s Certificate from Tenant stating (i) that such grant, modification or abandonment is not detrimental to the proper conduct of business on such Property, (ii) the consideration, if any, being paid for such grant, modification or abandonment (which consideration shall be paid by Tenant), (iii) that such grant, modification or abandonment does not impair the use or value of such Property for the Permitted Use, and (iv) that, for as long as this Agreement shall be in effect, Tenant will perform all obligations, if any, of Landlord under any such instrument; and (c) Landlord receives evidence satisfactory to Landlord that the Manager has granted its consent to such grant, modification or abandonment in accordance with the requirements of such Manager’s Management Agreement or that such consent is not required.

  • Grant of Easement Subject to clauses 2 to 4 inclusive of this Part, the Water Authority will grant to the Joint Venturers an easement over the Water Authority Land in accordance with clause 5 of this Part.

  • Grant of Stock Options This non-qualified Stock Option is granted under and pursuant to the Plan and is subject to each and all of the provisions thereof.

  • Grant of Stock Option The Company hereby grants the Optionee an Option to purchase shares of Common Stock, subject to the following terms and conditions and subject to the provisions of the Plan. The Plan is hereby incorporated herein by reference as though set forth herein in its entirety. The Option is not intended to be and shall not be qualified as an “incentive stock option” under Section 422 of the Code.

  • Grant of Stock Units Pursuant to the terms and conditions set forth in this Stock Award Agreement (including Section 1 above) and the Plan, the Administrator hereby grants to the Awardee named in Section 1, on the Grant Date set forth in Section 1, the number of Stock Units set forth in Section 1.

  • Grant of Rights The Company hereby grants registration rights to the Designated Holders upon the terms and conditions set forth in this Agreement.

  • Grant of SARs Subject to the terms and conditions of the Plan, SARs may be granted to Employees and Consultants at any time and from time to time as shall be determined by the Committee, in its sole discretion. The Committee shall have complete discretion to determine the number of SARs granted to any Participant, provided that during any Fiscal Year, no Participant shall be granted SARs covering more than 500,000 Shares.

  • Grant of Right In addition to the demand right of registration described in Section 5.1 hereof, the Holder shall have the right, for a period of no more than two (2) years from the Initial Exercise Date in accordance with FINRA Rule 5110(g)(8)(D), to include the Registrable Securities as part of any other registration of securities filed by the Company (other than in connection with a transaction contemplated by Rule 145(a) promulgated under the Securities Act or pursuant to Form S-8 or any equivalent form); provided, however, that if, solely in connection with any primary underwritten public offering for the account of the Company, the managing underwriter(s) thereof shall, in its reasonable discretion, impose a limitation on the number of Shares which may be included in the Registration Statement because, in such underwriter(s)’ judgment, marketing or other factors dictate such limitation is necessary to facilitate public distribution, then the Company shall be obligated to include in such Registration Statement only such limited portion of the Registrable Securities with respect to which the Holder requested inclusion hereunder as the underwriter shall reasonably permit. Any exclusion of Registrable Securities shall be made pro rata among the Holders seeking to include Registrable Securities in proportion to the number of Registrable Securities sought to be included by such Holders; provided, however, that the Company shall not exclude any Registrable Securities unless the Company has first excluded all outstanding securities, the holders of which are not entitled to inclusion of such securities in such Registration Statement or are not entitled to pro rata inclusion with the Registrable Securities.

  • Grant of RSUs The Company hereby grants to the Grantee the Award of RSUs, as set forth in the Award letter. An RSU is the right, subject to the terms and conditions of the Plan and this Agreement, to receive a distribution of a share of Common Stock for each RSU as described in Section 6 of this Agreement.

  • Grant of Restricted Stock Units The Corporation hereby awards to the Participant, as of the Award Date, Restricted Stock Units under the Plan. Each Restricted Stock Unit represents the right to receive one share of Common Stock on the date that unit vests in accordance with the express provisions of this Agreement. The number of shares of Common Stock subject to the awarded Restricted Stock Units, the applicable vesting schedule for those shares, the dates on which those vested shares shall become issuable to Participant and the remaining terms and conditions governing the award (the “Award”) shall be as set forth in this Agreement.

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