Initial Participating Interests. The Participants shall have the following initial Participating Interests: SVB – 80% CB – 20%
Initial Participating Interests. Effective as of the date of this Agreement, the Participants shall have the following "Initial Participating Interests" in the Venture: Duncan Park - 75% and Sphere - 25%.
Initial Participating Interests. The Participants shall have the following initial Participating Interests: Golden Phoenix 50% Borealis 50%
Initial Participating Interests. The Participants shall have the following initial Participating Interests: Uranium Power 50% USE Parties 50%
Initial Participating Interests. Subject to sections 5.5 and 5.6, the Participants shall have the following Initial Participating Interests in the Venture: Richmont - 55% Pxxxxxxx - 45% or Richmont - 25% + 1% for each $166,666.67 expended by Richmont in excess of $5 million Pxxxxxxx - 75% - 1% for each $166,666.67 expended by Richmont in excess of $5 million For greater certainty and without limitation, in the event the provisions of section 5.6 are operative, the calculation of the initial interests of the Participants shall be calculated as at the point in time at which Richmont elects to cease to make further expenditures in accordance with such section 5.6. Moreover, if in the event Richmont has given notice of its election to put the Properties into Commercial Production under section 5.2 and has failed to incur expenditures under the Commercial Production Program of $5 million, then Richmont shall be deemed to have irrevocably withdrawn from the Venture and this Agreement shall forthwith be terminated without any liability on the part of any party therefor.
Initial Participating Interests. The Participants shall have the following initial Participating Interests: Silver Ridge - 50% Stirrup Creek - 50%
Initial Participating Interests. The Participants shall have the following initial Participating Interests: NJMC - 50% Silverstar - 50%
Initial Participating Interests. The Participants shall have the following initial Participating Interests: Nova — 70% PDUS — 30% provided, however, that if PDUS exercises the Joint Venture Operator Option and completes the Back-In Requirements contemplated in Section 5.3(a) of this Agreement, the initial Participating Interests of the Participants shall be deemed to be adjusted as of the date the Back-In Requirements are completed to be: Nova — 30% PDUS — 70% provided, however, that if any Participant has elected pursuant to Section 6.3 not to contribute to a Program and Budget contemplated in Section 5.3(b) or has defaulted in making a contribution to an Approved Program and Budget contemplated in Section 5.3(b), then the initial Participating Interests of the Participants shall be further adjusted in accordance with Section 6.3(c) or Section 6.4, as applicable.
Initial Participating Interests. Upon the Effective Date: (i) BHP shall have a 60% Participating Interest in the Joint Venture and all Assets of the Joint Venture and Golden Star shall have a 40% Participating Interest in the Joint Venture and all Assets of the Joint Venture, and (ii) BHP and Golden Star shall participate jointly in Operations on the basis of their respective Participating Interests. On the basis of the adopted program and budget and except as otherwise provided in Section 4.6 (Management), the Manager shall submit to each Party prior to the last day of each month a billing for estimated cash requirements for the next month. Within fifteen (15) days after receipt of each billing, each Party shall advance to the Manager its proportionate share of the estimated amount.
Initial Participating Interests. Upon the Effective Date: (i) BHP shall have a 60% Participating Interest in the Joint Venture and all Assets of the Joint Venture and Golden Star shall have a 40% Participating Interest in the Joint Venture and all Assets of the Joint Venture, and (ii) BHP and Golden Star shall participate jointly in Operations on the basis of their respective Participating Interests, subject however, to the funding obligations of each Party under Section 4.5.1 (Obligations to Fund) and Golden Star's obligation to reimburse BHP for its prorata share of such funding under Section 4.5.2 (Reimbursement).
