Matters to be Decided by the arbitrator or expert
Matters to be Decided. The Operator shall not take any of the following actions without obtaining the prior written consent of each Party holding greater than a 20% Interest: a) termination of the Joint Venture; b) annual operating plans and Programs that are materially inconsistent with the strategy as set out by the Management Committee; c) abandon, sell or otherwise dispose of any asset of the Joint Venture having a net book value greater than $100,000 or, if related to normal business operations, a net book value greater than $500,000; d) any suspension or termination of mining operations; e) other than those reductions in response to unanticipated or uncontrollable events which may include (but not limited to) environmental matters, change in commodity price, safety matters, plant and equipment failure, or other uncontrollable events that dictate the need for such reduction, any reduction in excess of 20% of the anticipated monthly mining or milling rates from those established in an operating plan or Program; f) create, or permit to remain, any material liens, upon any asset of the Joint Venture, except for any liens which are customary in the circumstances of a mining operation; g) abandon, sell or otherwise dispose of the Project, or any part thereof; h) acquisition of assets, capital assets or mine developments in an amount in excess of $500,000; i) settle any suit, claim or demand with respect to the Joint Venture involving an amount in excess of $500,000; or j) enter into or amend any material contract with persons who are not at arm’s length to the Operator or either Party in an amount in excess of $100,000. Title Subject to agreement by the Parties at the time of the formation of the Joint Venture, it is expected that title to the Underground Resources shall be held by the Operator or by a nominee company at option of the Operator. Access The Operator shall permit the Parties, at their own expense, reasonable access to the results of all work done on the Project by the Joint Venture. The results of all Joint Venture work shall be held in strict confidence by the Parties except as required for continuous disclosure purposes under applicable securities laws. VAN01: 4766874: v22C-4 Area of Interest The area of interest (“Area of Interest”) shall be deemed to comprise that area which is included within two (2) kilometres of the outermost boundary of the mineral properties which constitute the Project as at the commencement of the Joint Venture. Any acquisition within th...
Matters to be Decided. The following matters shall be brought before the Board of Directors for approval:
Matters to be Decided. Unless previously approved by the Shareholders holding at least 75% of the Shares, the following matters shall be brought before the Board of Directors for approval:
