Phase II Contribution Sample Clauses

Phase II Contribution. At any time prior to or after completion of the Phase I Contribution, PM&G may elect to incur additional expenses outside of Phase I Contributions to advance the Properties towards completion of a Phase II Contribution (as defined below). Upon completion of Phase I and upon PM&G determining to initiate and/or continue Phase II Contributions by written notice to Timberline (“Phase II Notice”), Timberline may elect to move the Company to Joint Funding under Section 3.4 or grant PM&G the additional opportunity to earn the Phase II Interest (as defined below). Timberline will notify PM&G within 60 days of the Phase II Notice of its intent to move to Joint Funding and, if Timberline elects to move to Joint Funding, within 60 days of the Phase II Notice, Timberline will provide its pro-rata portion of the payment of any Phase II Contributions that may have occurred concurrently with Phase I activities (PM&G will provide proper documentation regarding expenditures made to-date on the Properties for Phase II in the Phase II Notice). PM&G shall provide the Phase II Notice to Timberline within 30 days after the completion of its Phase I Contribution. The failure of PM&G to provide such a Phase II Notice shall be deemed an election by PM&G not to make its Phase II Contribution. If Timberline elects to move to Joint Funding, all future costs incurred by the Company for the Properties, including but not limited to, the Development and Mining of the Properties will be split on a pro-rata basis pursuant to the terms hereof. If Timberline does not elect to move to Joint Funding, then PM&G will have the right to earn an additional Membership Interest (the “Phase II Interest”) by making Capital Contributions in addition to its Phase I Contribution in an amount sufficient to complete a bankable feasibility study in accordance with Canadian National Instrument 43-101 and any applicable regulations of the United States Securities and Exchange Commission to establish proven and probable reserves (the “Phase II Contribution”) for Qualifying Expenses on or before the end of the third Annual Period following the end of the Phase I Earn-In Period (the “Phase II Due Date”). If PM&G makes such an election, the period from the end of the Phase I Earn-In Period until the Phase II Due Date or such earlier date that PM&G has made its entire Phase II Contribution is referred to as the “Phase II Earn-In Period.” The Phase I Earn-In Period and, if Timberline elects not to move to Joint Fund...
Sample 1
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Related to Phase II Contribution

  • Initial Contribution The capital contributions to be made by the Member and with which the Company shall begin business are as follows: Member Name Contribution Membership Interest Century Land Holdings, LLC $ 1,000.00 100 %

  • The Contribution Prior to the Effective Time, and subject to the terms and conditions set forth in the Distribution Agreement, Grace intends to cause the transfer to a wholly owned subsidiary of Grace-Conn. ("Packco") of certain assets and liabilities of Grace and its subsidiaries predominantly related to the Packaging Business (the "Contribution"), as contemplated by the Distribution Agreement and the Other Agreements.

  • Catch-Up Contributions Unless otherwise elected in Section 2.4 of this amendment, all employees who are eligible to make elective deferrals under this plan and who have attained age 50 before the close of the plan year shall be eligible to make catch-up contributions in accordance with, and subject to the limitations of, Section 414(v) of the Code. Such catch-up contributions shall not be taken into account for purposes of the provisions of the plan implementing the required limitations of Sections 402(g) and 415 of the Code. The plan shall not be treated as failing to satisfy the provisions of the plan implementing the requirements of Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of the making of such catch-up contributions.

  • Initial Contributions In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial Capital Contribution to the Partnership in the amount of $10.10 for an interest in the Partnership and was admitted as the general partner of the Partnership, and the Initial Limited Partner made an initial Capital Contribution to the Partnership in the amount of $989.90 for an interest in the Partnership and was admitted as a limited partner of the Partnership.

  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04.

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • Additional Contributions The Member is not required to make any additional capital contribution to the Company. However, the Member may at any time make additional capital contributions to the Company in cash or other property.

  • ALLOCATION OF CONTRIBUTIONS If the application is in good order, the initial Contribution will be applied within two Business Days of receipt at the Retirement Resource Operations Center. During the right to cancel period, all Contributions will be allocated in one or more of the Sub-Account(s) as specified in the application. During the right to cancel period, the Owner may change the allocations to the Sub-Accounts. Subsequent Contributions will be allocated to the Annuity Account in the proportion Requested by the Owner. If there are no accompanying instructions, then allocations will be made in accordance with standing instructions. Allocations will be effective upon the Transaction Date.

  • Public Cash Contribution The Parties acknowledge that, in connection with the Offering, public investors, through the Underwriters, shall make a capital contribution to the Partnership of $[ ] million in cash (the “IPO Proceeds”) in exchange for [ ] Common Units (the “Firm Units”) representing an aggregate [ ]% limited partner interest in the Partnership, and new limited partners are being admitted to the Partnership in connection therewith.

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