Common use of Maintenance of Unpatented Claims Clause in Contracts

Maintenance of Unpatented Claims. To the extent not otherwise addressed herein, the Trustor covenants and agrees to timely pay all claim maintenance fees, to timely make all filings and recordings, including affidavits of payment, and to otherwise timely take all other necessary actions and pay such amounts relating to the preservation, maintenance, continuance and validity of unpatented mining claims and unpatented millsite claims as may be required by any federal, state or local governmental authority, including payment of claim maintenance fees to the U.S. Bureau of Land Management on or before July 15th of each year. The Trustor further covenants and agrees to provide the Beneficiary, on or before August 1 of each year, written notice and evidence of the payment of such claim maintenance fees for such unpatented claims. In the event that the Beneficiary has not received the notice and evidence described in the preceding sentence by August 1, the Trustee or the Beneficiary may, on behalf of the Trustor, make and pay any claim maintenance fees, in which event the Trustor shall promptly reimburse the Trustee and the Beneficiary for any such fees, with interest at the rate set forth in the Loan Agreement, in addition to any costs and expenses incurred in making such payments, and all such amounts shall be Obligations hereunder;

Maintenance of Unpatented Claims. To the extent not otherwise addressed herein, the Trustor Grantor covenants and agrees to timely pay all claim maintenance fees, to timely make all filings and recordings, including affidavits of payment, and to otherwise timely take all other necessary actions and pay such amounts relating to the preservation, maintenance, continuance and validity of unpatented mining claims and unpatented millsite claims as may be required by any federal, state or local governmental authority, including payment of claim maintenance fees to the U.S. Bureau of Land Management on or before July 15th of each year. The Trustor Grantor further covenants and agrees to provide the BeneficiaryLender, on or before August 1 of each year, written notice and evidence of the payment of such claim maintenance fees for such unpatented claims. In the event that the Beneficiary Lender has not received the notice and evidence described in the preceding sentence by August 1, the Trustee or the Beneficiary Lender may, on behalf of the TrustorGrantor, make and pay any claim maintenance fees, in which event the Trustor Grantor shall promptly reimburse the Trustee and the Beneficiary Lender for any such fees, with interest at the rate set forth in the Loan Agreement, in addition to any costs and expenses incurred in making such payments, and all such amounts shall be Obligations hereunder;

Maintenance of Unpatented Claims. To the extent not otherwise addressed herein, the Trustor Mortgagor covenants and agrees to timely pay all claim maintenance fees, to timely make all filings and recordings, including affidavits of payment, and to otherwise timely take all other necessary actions and pay such amounts relating to the preservation, maintenance, continuance and validity of unpatented mining claims and unpatented millsite claims as may be required by any federal, state or local governmental authority, including payment of claim maintenance fees to the U.S. Bureau of Land Management on or before July 15th of each year. The Trustor Mortgagor further covenants and agrees to provide the BeneficiaryMortgagee, on or before August 1 1st of each year, written notice and evidence of the payment of such claim maintenance fees for such unpatented claims. In the event that the Beneficiary Mortgagee has not received the notice and evidence described in the preceding sentence by August 11st, the Trustee or the Beneficiary Mortgagee may, on behalf of the TrustorMortgagor, make and pay any claim maintenance fees, in which event the Trustor Mortgagor shall promptly reimburse the Trustee and the Beneficiary Mortgagee for any such fees, with interest at the rate set forth in the Loan AgreementApplicable Interest Rate, in addition to any costs and expenses incurred in making such payments, and all such amounts shall be Secured Obligations hereunder;.

Maintenance of Unpatented Claims. To the extent not otherwise addressed herein, the Trustor covenants and agrees to timely pay all claim maintenance fees, to timely make all filings and recordings, including affidavits of payment, and to otherwise timely take all other necessary actions and pay such amounts relating to the preservation, maintenance, continuance and validity of unpatented mining claims and unpatented millsite claims as may be required by any federal, state or local governmental authority, including payment of claim maintenance fees to the U.S. Bureau of Land Management on or before July 15th of each year. The Trustor further covenants and agrees to provide the Beneficiary, on or before August 1 of each year, written notice and evidence of the payment of such claim maintenance fees for such unpatented claims. In the event that the Beneficiary has not received the notice and evidence described in the preceding sentence by August 1, the Trustee or the Beneficiary may, on behalf of the Trustor, make and pay any claim maintenance fees, in which event the Trustor shall promptly reimburse the Trustee and the Beneficiary for any such fees, with interest at the rate set forth in the Loan Credit Agreement, in addition to any costs and expenses incurred in making such payments, and all such amounts shall be Obligations hereunder;