Common use of Obsolete Material Clause in Contracts

Obsolete Material. Any Material that is serviceable and usable for its original function, but its condition is not equivalent to that which would justify a price as provided above, shall be priced by the Management Committee. Such price shall be set at a level that will result in a charge to the Business Account equal to the value of the service to be rendered by such Material.

Appears in 13 contracts

Samples: In Agreement (Entree Gold Inc), Equity Participation (Entree Gold Inc), In Agreement (Entree Gold Inc)

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Obsolete Material. Any Material that is serviceable and usable for its original function, but its condition is not equivalent sufficient to that which would justify a price as provided above, above shall be priced by the Management Committee. Such price shall be set at a level that will result in a charge to the Business Account equal to the value of the service to be rendered by such Material.

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement (Gold Torrent Canada Inc), Limited Liability Company Agreement, Limited Liability Company Agreement

Obsolete Material. Any Material that which is serviceable and usable for its original function, but its condition is not equivalent to that which would justify a price as provided above, above shall be priced by the Management Committee. Such price shall be set at a level that which will result in a charge to the Business Account equal to the value of the service to be rendered by such Material.

Appears in 3 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Operating Agreement (Solitario Exploration & Royalty Corp.), Limited Liability Company Agreement (General Moly, Inc)

Obsolete Material. Any Material that which is serviceable and usable for its original function, but its condition is not equivalent to that which would justify a price as provided above, above shall be priced by the Management Committee. Such price shall be set at a level that which will result in a charge to the Business Joint Account equal to the value of the service to be rendered by such Material.

Appears in 2 contracts

Samples: Mining Venture Agreement (Novagold Resources Inc), Agreement (Pacific Booker Minerals Inc.)

Obsolete Material. Any Material that which is serviceable and usable useable for its original function, but its condition or value of such Material is not equivalent to that which would justify a price as provided above, shall above may be specially priced as agreed to by the Management CommitteeParties. Such price shall be set at a level that will should result in a charge to the Business Joint Account equal to being charged with the value of the service to be rendered by such Material.

Appears in 2 contracts

Samples: Mark Gareth Creasy, www.sedarpush.com

Obsolete Material. Any Material that material which is serviceable and usable for its original function, but its condition is not equivalent to that which would justify a price as provided above, above shall be priced by the Management Committee. Such price shall be set at a level that which will result in a charge to the Business Joint Account equal to the value of the service to be rendered by such Materialmaterial.

Appears in 1 contract

Samples: In and Joint Venture Agreement (Pan American Lithium Corp)

Obsolete Material. Any Material that is serviceable and usable for its ------------------ original function, but its condition is not equivalent to that which would justify a price as provided above, shall be priced by the Management Committee. Such price shall be set at a level that will result in a charge to the Business Account equal to the value of the service to be rendered by such Material.

Appears in 1 contract

Samples: Members' Agreement (Battle Mountain Gold Exploration Corp.)

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Obsolete Material. Any Material that is serviceable and usable for its original function, but its condition is not equivalent sufficient to that which would justify a price as provided above, above shall be priced by the Management Committee. Such price shall be set at a level that will result in a charge to the Business Account equal to the value of the service to be rendered by such Material.. Exhibit B – Accounting Procedure: Page 6

Appears in 1 contract

Samples: Limited Liability Company Agreement (Contango ORE, Inc.)

Obsolete Material. Any Material that which is serviceable and ----------------- usable for its original function, but its condition is not equivalent to that which would justify a price as provided above, above shall be priced by the Management Committee. Such price shall be set at a level that which will result in a charge to the Business Joint Account equal to the value of the service to be rendered by such Material.

Appears in 1 contract

Samples: Mining Venture Agreement (Western Goldfields Inc)

Obsolete Material. Any Material that is serviceable and usable for its original function, but its condition is not equivalent to that which would justify a price as provided above, above shall be priced by the Management Committee. Such price shall be set at a level that will result in a charge to the Business Account equal to the value of the service to be rendered by such Material.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Uranium Energy Corp)

Obsolete Material. Any Material that which is serviceable and usable for its original function, but its condition is not equivalent to that which would justify a price as provided above, above shall be priced by the Management Committee. Such price shall be set at a level that which will result in a charge to the Business JointBusiness Account equal to the value of the service to be rendered by such Material.

Appears in 1 contract

Samples: Venturelimited Liability Company Agreement

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