Maintenance; Good Standing Sample Clauses

Maintenance; Good Standing. Additionally, the Board of each Alliance Sub shall create a Program and Budget as set forth in Section 1(c) above, which shall include a minimum annual work commitment necessary to advance each project so as to at least maintain the mining claims in good standing and such reasonable advancement of the Property or any individual property maintained by the Alliance as the Board may determine in its sole discretion. Commencing in the 2012 rental year, the Operator shall pay the annual rental payments, consisting of validity fees and production penalties, to the extent applicable, on the concessions in aggregate on or before May 1 of each rental year (the “Rental Year”), such payments to come out of the business account of the applicable Alliance Sub, and to promptly provide SV with proof of such payment. On signing, GPM shall, at minimum, pay the validity fees and production penalties for the 2010 Rental Year, such payments totaling approximately $14,945 (for all concessions comprising the Property, exclusive of filing fees), of which $4,931 shall be paid by SV and $9,864 shall be paid by GPM. On or before Closing, GPM will pay all fees and penalties due for the Property for the 2011 Rental Year, all such fees and penalties to be deemed an operational expense under Section 1(c).
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Related to Maintenance; Good Standing

  • Existence; Good Standing It is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization or formation and has all requisite power and authority to own and operate its properties and to conduct its business, as conducted and planned to be conducted as of the date hereof. The state of residence or principal place of business of each Purchaser is set forth on Schedule 1.

  • Existence and Good Standing The Purchaser is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware, USA.

  • Legal Existence and Good Standing The Borrower shall, and shall cause each of its Subsidiaries to, maintain its legal existence and its qualification and good standing in all jurisdictions in which the failure to maintain such existence and qualification or good standing could reasonably be expected to have a Material Adverse Effect.

  • Good Standing The Representatives shall have received on and as of the Closing Date or the Additional Closing Date, as the case may be, satisfactory evidence of the good standing of the Company and its subsidiaries in their respective jurisdictions of organization and their good standing as foreign entities in such other jurisdictions as the Representatives may reasonably request, in each case in writing or any standard form of telecommunication from the appropriate governmental authorities of such jurisdictions.

  • Incorporation; Good Standing 43 7.1.2. Authorization. ...........................................................43 7.1.3. Enforceability. ..........................................................43 7.2.

  • Organization, Existence and Good Standing The Company is a corporation duly organized, validly existing and in good standing under the Laws of the State of Delaware.

  • Organization; Good Standing The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware.

  • Incorporation and Good Standing The Company has been duly incorporated or formed and is validly existing and in good standing as a company limited by shares under the laws of the jurisdiction of its formation and has corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Disclosure Package and the Prospectus and to enter into and perform its obligations under this Agreement. As of the Closing, the Company does not own or control, directly or indirectly, any corporation, association or other entity that is not otherwise disclosed in the Disclosure Package.

  • Organization and Good Standing Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of Delaware, with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and had at all relevant times, and now has, power, authority and legal right to acquire, own and sell the Receivables and the Other Conveyed Property to be transferred to Purchaser.

  • Qualification and Good Standing Each Loan Party is qualified to do business and in good standing in every jurisdiction where its assets are located and wherever necessary to carry out its business and operations, except in jurisdictions where the failure to be so qualified or in good standing has not had and will not have a Material Adverse Effect.

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