Mineral Development and Research Fund Sample Clauses

Mineral Development and Research Fund. On the Effective Date of this Agreement pursuant to Article II, the CONCESSIONAIRE shall make a one-time payment to the GOVERNMENT for the Mineral Development Fund in the amount of Fifty Thousand Dollars (US$50,000.00). The CONCESSIONAIRE shall also make a contribution of One Hundred Thousand Dollars (US$100,000.00) per annum to the Scientific Research Fund of the Ministry of Lands, Mines and Energy, with the first yearly payment to be made upon the Effective Date of this Agreement.
Sample 1
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Mineral Development and Research Fund. On the Approval Date and pursuant to Section 18.4 of the Mining Law, the Company shall make a one-time payment to the Government of US$50,000. On the grant of a Class A Mining License to the Company, the Company shall make an additional payment to the Government pursuant to Section 18.4 of the Mining Law equal to one-twentieth of one percent (0.05%) of the capital expenditure budget set forth in the approved Feasibility Report. Such amounts shall be paid into the general account of the Minister of Finance for the Mineral Development Fund.
Sample 1
Mineral Development and Research Fund. On the First Payment Date and pursuant to Section 18.4 of the Mining Law, the Concessionaire shall make a one- time payment to the Government of US$50,000. Such amounts shall be paid into the general account of the Minister of Finance for the Mineral Development Fund.
Sample 1

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