Participants' Initial Contributions Clause Samples
The 'Participants' Initial Contributions' clause defines the specific resources, assets, or capital that each participant is required to provide at the outset of an agreement or venture. This may include cash investments, intellectual property, equipment, or services, and typically outlines the value and timing of these contributions. By clearly specifying what each party must contribute, the clause ensures transparency and fairness, preventing disputes over obligations and establishing a solid foundation for the collaboration.
Participants' Initial Contributions. Each Participant, as its Initial Contribution, hereby contributes all its undivided right, title and interest in and to the Properties to the Business.
Participants' Initial Contributions. (a) UPC, as part of its Initial Contribution, hereby pledges to contribute 100% of its right, title and interest to be acquired in the Properties at the time of Closing after full payment of the purchase price contained in paragraph 4 as provided in the PSA.
(b) The USE Parties, as its Initial Contribution, hereby contributes 100% of its right, title and interest in the Properties at the time of Closing as provided in the PSA.
Participants' Initial Contributions. The Participants, as their Initial Contributions, hereby contribute their respective interests in the Properties to the purposes of this Agreement.
Participants' Initial Contributions. The initial Participating Interests of the parties are as set forth in Section 6.1. Upon Stirrup Creek completing the expenditure contemplated by subsection 3.1(c) the agreed value of each party's Initial Contribution will be $300,000 for Stirrup Creek and $100,000 for Forefront and the receipt by the Venture of the Initial Contribution of each Participant shall thereupon be deemed to be acknowledged by the parties hereto.
Participants' Initial Contributions. (a) USPR, as its sole contribution, hereby contributes its undivided one hundred percent (100%) interest of Assets..
(b) MARIGOLD, as its initial contribution, hereby contributes THREE MILLION AND FIVE HUNDRED THOUSAND DOLLARS ($3,500,000) to be utilized exclusively in the ongoing Exploration, exploitation, Mining and development of the Concessions. Within three (3) business days of execution of this Joint Venture Agreement, MARIGOLD shall deposit $3.5 million in a joint venture bank account and provide verification of such deposit to USPR. MARIGOLD’s failure to deposit such funds shall nullify this Joint Venture Agreement.
(c) In addition, Marigold will provide additional capital to discharge in full the Obligations and hereby guarantees the discharge of the Assumed Obligations. Marigold will provide documentation to USPR of all Assumed Obligation that have been discharged.
(d) Continuing Obligations and
Participants' Initial Contributions. (a) United Nuclear as its Initial Contribution, hereby contributes its nineteen percent (19%) undivided interest in the Assets described in Exhibit A-1 to the purposes of this Agreement. The amount of $5,828,319.00 shall be credited to the United Nuclear Equity Account on the Effective Date with respect to United Nuclear’ Initial Contribution.
(b) Uranerz, as its Initial Contribution, hereby contributes its eighty-one percent (81%) undivided interest in the Assets described in Exhibit A-1 to the purposes of this Agreement together with its one hundred percent (100%) undivided interest in the Assets described in Exhibit A-2. The amount of $24,847,043.00 shall be credited to the Uranerz Equity Account on the Effective Date with respect to Uranerz’ Initial Contribution.
Participants' Initial Contributions. Failure to Make Initial Contribution . . . . . . . . . 10 5.3 Additional Contributions . . . 11
Participants' Initial Contributions. (a) Miranda, as its Initial Contribution, hereby contributes the Assets described in Exhibit A to the purposes of this Agreement. The amount of One Million Three Hundred Thirty-Three Thousand Three Hundred and Thirty-Three and 60/100 Dollars ($1,333,333.60) shall be credited to Miranda’s Equity Account on the Effective Date with respect to Miranda’s Initial Contribution.
(b) Subject to BGEI’s right of withdrawal as set forth in Section 5.2, BGEI, as its Initial Contribution, shall:
(i) expend a total of Two Million Dollars and 40/100 Dollars ($2,000,000.40) in Qualifying Expenses to fund Operations under Subsection 5.1(c) on or before December 31, 2009 in minimum amounts scheduled as follows: On or before December 31, 2006 $300,000.00 On or before December 31, 2007 $400,000.00 On or before December 31, 2008 $600,000.00 On or before December 31, 2009 $700,000.00 Any amount expended by BGEI in excess of the amount required by a particular date shall be credited against the minimum expenditure requirement for subsequent years. If BGEI fails to expend a total of Three Hundred Thousand Dollars ($300,000.00) in Qualifying Expenses on or before December 31, 2006, BGEI shall pay the difference between that amount and the amount of Qualifying Expenses expended on or before December 31, 2006 to Miranda on or before February 28, 2007;
(ii) complete a total of 3,000 feet of drilling on the Properties on or before December 31, 2006; and
(iii) make payments to Miranda as provided in Section 5.4. Upon the completion of BGEI’s Initial Contribution, the amount of Two Million Dollars ($2,000,000.40) shall be credited to BGEI’s Equity Account.
(c) Until the later to occur of (i) BGEI completing its Initial Contribution or (ii) BGEI electing not to make or completing its Additional Earn-In, BGEI shall have the sole right to determine the nature, timing, scope, extent and method of all Operations without any obligation to hold meetings of the Management Committee, to prepare Programs and Budgets for review, comment or approval by Miranda, or to obtain the approval or consent of Miranda or the Management Committee. In conducting such Operations, BGEI shall be entitled, but shall not be obligated, to exercise any of the applicable powers of the Manager in Section 8.2, except that until the later to occur of (i) BGEI completing its Initial Contribution or (ii) BGEI electing not to make or completing its Additional Earn-In it shall not be entitled or required to perform the activi...
Participants' Initial Contributions. (a) Frontline, as its Initial Contribution, hereby contributes the Property. The deemed value of Frontline's Initial Contribution is $4,000, which shall be credited to Frontline's Equity Account as of the Effective Date.
(b) Talisker, as its Initial Contribution, hereby contributes $4,000], being the costs incurred by Talisker pursuant to the Earn-In Agreement, which shall be credited to Talisker's Equity Account as of the Effective Date.
(c) ▇▇▇▇▇▇▇▇ contributed claims adjacent to the Frontline Optioned property to comprise the full Joint Venture Property.
Participants' Initial Contributions. (a) EML and G8, as their Initial Contribution, hereby contribute the Assets described in Exhibit A to the purposes of this Agreement. For the purposes of determining the Equity Accounts for EML and G8, this contribution shall have a value equal to $9,428,571 ($4,714,286 each to EML and G8) and shall not be reduced by the direct payments from RGS to EML and G8 contemplated by Section 5.1(b), below. EML and G8 will also provide RGS the opportunity to participate in any Financing arranged by EML, G8 or any Affiliate of EML or G8, on the most favorable terms obtained by EML, G8 or such Affiliate, with the understanding that neither EML, G8 nor any Affiliate has any obligation to arrange Financing.
(b) Subject to RGS’s right of withdrawal as set forth in Section 12.3, RGS, as its Initial Contribution, shall pay EML and G8 $8,000,000 in shares of Hecla Mining Company common stock (which may be restricted as that term is defined under Rule 144) as soon as is commercially practicable, but not later than ten (10) trading days of the execution of the Agreement (with the total number of shares to be issued based on 90% of the volume-weighted average price (the “VWAP”) of Hecla Mining Company shares on the New York Stock Exchange (“NYSE”) for the twenty trading (20) days immediately preceding the date of execution of the Agreement by EML and