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 member agrees to make an initial contribution to the Company of $____________.

  • 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 In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Initial Contributions The Members initially shall contribute to the Company capital as described in Schedule 2 attached to this Agreement.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • 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. PART I. [OPTIONS (a) THROUGH (d)].

  • 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.

  • 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 You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

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