Initial Ownership Interests. The Members shall have the following respective initial Ownership Interests: NEI - 51% UEC - 49%.
Initial Ownership Interests. Provided that Yellowcake is not in default of obligations under Section 3.1, when Yellowcake has contributed to the Company the sum of Four Million Dollars ($4,000,000) of the Eight Million Dollars ($8,000,000) in Exploration Costs referred to in Section 3.1(b)(iii), Yellowcake shall possess a forty percent (40%) Ownership Interest in the Company. When Yellowcake has contributed to the Company, the additional Four Million Dollars ($4,000,000) in Exploration Costs referred to in Section 3.1(b)(iii), for a total of Eight Million Dollars ($8,000,000) in Exploration Costs, Yellowcake shall possess an additional forty percent (40%) Ownership Interest, for a total of an eighty percent (80%) Ownership Interest in the Company. No Ownership Interest in the Company shall vest in Yellowcake until the first Four Million Dollars ($4,000,000) of Exploration Costs have been contributed by Yellowcake. After the contribution of the Exploration Costs, the Members shall have the following Ownership Interests: Member: Ownership Interest Yellowcake 80% Strathmore 20% During the Option Period, the Manager will keep the Property in good standing, free and clear of all Encumbrances resulting from its activities.
Initial Ownership Interests. Upon its execution and delivery of the conveyance documents referred to in Section 3.1, WEG shall receive the following Initial Ownership Interest in the Company: WEG acknowledges that the Ownership Interest in the Company will total 100 units, and that the other 60 units will be owned by GPM, pursuant to the terms and conditions of the Contribution Agreement between GPM and the Company of even date herewith (the “GPM Contribution Agreement”).
Initial Ownership Interests. The Members shall have the following initial Ownership Interests: TSVLP - forty percent (40%) TSHI - sixty percent (60%) The Ownership Interests of the Members shall have no relationship to their Capital Accounts, which shall be determined solely as stated in the Members' Agreement and Exhibit C.
Initial Ownership Interests. The Members shall have the following initial Ownership Interests as reflected in the attached Schedule of Members: STRATHMORE – 60% SCC – 34% XXXX –
Initial Ownership Interests. The Members shall have the following initial Ownership Interests: SFPG - 50.0000% Hecla - 50.0000%
Initial Ownership Interests. The Members shall have the following initial Ownership Interests: Patricx - 50% KLT Gas - 50%
Initial Ownership Interests. The Members shall have the following Initial Ownership Interests: AIVN - 35% Electrum - 65% If Electrum performs the Additional Contribution, the Members shall have the following initial Ownership Interests: AIVN - 25% Electrum - 75%
Initial Ownership Interests. After such time that SRL has exercised the Option and paid the Purchase Price to MKG, the Parties shall have the following initial ownership interest in the Project ("Ownership Interests"): MKG - 65% SRL - 35%
Initial Ownership Interests. As provided by EXHIBIT I, BMGE must expend $1,165,000 in order to earn a 50% interest in PGL and that before that event, its interest is not vested. After that event the Members shall have the following initial Ownership Interests: NGXS 50% BMGE 50%
