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Common use of Mining Licenses Clause in Contracts

Mining Licenses. The Mining Licenses have been validly granted and recorded in the name of, and are owned by the applicable Specified Entity and are in full force and effect, except as provided in the Disclosure Certificate. The Mining Licenses grant the holders thereof the exclusive right to extract minerals from the areas covered by the Mining Licenses in accordance with the respective terms and conditions thereof and applicable thereto. Except as disclosed in the Disclosure Certificate, as such disclosure may be updated from time to time to the extent required pursuant to Section 11.1(b): (i) no Person has any material right, title or interest in or to the Mining Licenses other than Permitted Liens; and (ii) except for Permitted Liens, all fees, including maintenance fees, and other payments due to any Official Body in respect of the Mining Licenses have been paid in full on a timely basis, except as would not materially interfere with the use made by the applicable Specified Entity of the Mining Licenses.]

Appears in 2 contracts

Samples: Revolving Credit Facility (Gatos Silver, Inc.), Revolving Credit Facility (Gatos Silver, Inc.)

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Mining Licenses. The Mining Licenses have been validly granted and recorded in the name of, and are owned by the applicable Specified Entity and are in full force and effect, except as provided in the Disclosure Certificate. The Mining Licenses grant the holders thereof the exclusive right to extract minerals from the areas covered by the Mining Licenses in accordance with the respective terms and conditions thereof and applicable thereto. Except as disclosed in the Disclosure Certificate, as such disclosure may be updated from time to time to the extent required pursuant to Section 11.1(b): (i) no Person has any material right, title or interest in or to the Mining Licenses other than Permitted Liens; and (ii) except for Permitted Liens, all fees, including maintenance fees, and other payments due to any Official Body in respect of the Mining Licenses have been paid in full on a timely basis, except as would not materially interfere with the use made by the applicable Specified Entity of the Mining Licenses.]

Appears in 1 contract

Samples: Revolving Credit Facility (Gatos Silver, Inc.)

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Mining Licenses. The Mining Licenses have been validly granted and recorded in the name of, and are owned by the applicable Specified Entity and are in full force and effect, except as provided in the Disclosure Certificate. The Mining Licenses grant the holders thereof the exclusive right to extract minerals from the areas covered by the Mining Licenses in accordance with the respective terms and conditions thereof and applicable thereto. Except as disclosed in the Disclosure Certificate, as such disclosure may be updated from time to time to the extent required pursuant to Section 11.1(bβ€Ž11.1(b): (i) no Person has any material right, title or interest in or to the Mining Licenses other than Permitted Liens; and (ii) except for Permitted Liens, all fees, including maintenance fees, and other payments due to any Official Body in respect of the Mining Licenses have been paid in full on a timely basis, except as would not materially interfere with the use made by the applicable Specified Entity of the Mining Licenses.]

Appears in 1 contract

Samples: Revolving Credit Facility (Gatos Silver, Inc.)

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