Common use of Matters Requiring Approval Clause in Contracts

Matters Requiring Approval. Nevada JV shall not take, and shall not cause or permit any of its subsidiaries to take, and none of the Members or the Operating Member shall cause or permit Nevada JV or any of its subsidiaries to take, any of the following actions unless the proposed action is first Approved by the Board: (i) approval of all Programs and Budgets and related Funding Plans, as well as any material modifications thereto; (ii) approval of, or making any material modifications to, any life of mine plans in respect of any of the Nevada XX Xxxxx; (iii) entering into, amending, suspending or terminating any power arrangements for any of the Nevada JV Assets; (iv) selling excess power from any power generating facilities that are included in the Nevada JV Assets; (v) selecting banks and establishing accounts for the deposit of funds by the Nevada JV or any of its subsidiaries; (vi) initiating any non-ordinary course dispute resolution process (including arbitration proceedings) with a Governmental Authority or third party; (vii) the issuance of any press release; (viii) declaring an event of Force Majeure with respect to any project or mine; (ix) entering into a material contract or arrangement for the operation and maintenance of any component or all of the power generating facilities that are owned by Nevada JV or any of its subsidiaries and which provide power to one or more Nevada XX Xxxxx or other projects; (x) the creation of any material Encumbrance by Nevada JV or any of its subsidiaries on the Nevada JV Assets securing indebtedness of Nevada JV or any of its subsidiaries; (xi) issuing any statements of mineral reserves or resources; (xii) entering into any contract or commitment which has a payment obligation in excess of $25 million in any Calendar Year; (xiii) entering into any sole source supply commitment with a value in excess of $25 million in any Calendar Year; (xiv) commencing or resolving any claim or dispute that is considered material to the affairs of Nevada JV and its subsidiaries, taken as a whole, or that otherwise involves a total amount in dispute in excess of $100 million; (xv) appointment or removal of the General Manager; or (xvi) approving, or making any material modifications to, the remuneration of the General Manager.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Newmont Goldcorp Corp /De/), Limited Liability Company Agreement (Barrick Gold Corp), Limited Liability Company Agreement

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Matters Requiring Approval. Nevada JV shall not take, and shall not cause or permit any of its subsidiaries to take, and none of the Members or the Operating Member shall cause or permit Nevada JV or any of its subsidiaries to take, any of the following actions unless the proposed action is first Approved by the Board: (i) approval of all Programs and Budgets and related Funding Plans, as well as any material modifications thereto; (ii) approval ofapproval, or making any material modifications to, any life of mine plans in respect of any of the Nevada XX Xxxxx; (iii) entering into, amending, suspending or terminating any power arrangements for any of the Nevada JV Assets; (iv) selling excess power from any power generating facilities that are included in the Nevada JV Assets; (v) selecting banks and establishing accounts for the deposit of funds by the Nevada JV or any of its subsidiariesJV; (vi) initiating any non-ordinary course dispute resolution process (including arbitration proceedings) with a Governmental Authority or third party; (vii) the issuance of any press releaserelease by Nevada JV; (viii) declaring an event of Force Majeure with respect to any Nevada JV project or mine; (ix) entering into a material contract or arrangement for the operation and maintenance of any component or all of the power generating facilities that are owned by Nevada JV or any of its subsidiaries and which provide power to one or more Nevada XX Xxxxx or other projects; (x) the creation of any material Encumbrance by Nevada JV or any of its subsidiaries on the Nevada JV Assets securing indebtedness of Nevada JV or any of its subsidiariesJV; (xi) issuing any statements of mineral reserves or resources; (xii) entering into any contract or commitment which has a payment obligation in excess of $25 million in any Calendar Year; (xiii) entering into any sole source supply commitment with a value in excess of $25 million in any Calendar Year; (xiv) commencing or resolving any claim or dispute that is considered material to the affairs of Nevada JV and its subsidiaries, taken as a wholeJV, or that otherwise involves a total amount in dispute in excess of $100 million; (xv) appointment or removal of the General Manager; or (xvi) approving, or making any material modifications to, the remuneration of the General Manager.

Appears in 3 contracts

Samples: Implementation Agreement (Barrick Gold Corp), Implementation Agreement (Newmont Mining Corp /De/), Implementation Agreement

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