Production Decision. (a) After the Manager prepares a Feasibility Study, the Manager shall submit the Feasibility Study to the Management Committee. The Management Committee shall meet and decide whether further work is required to complete the Feasibility Study or the Feasibility Study is complete.
Production Decision. If TCAM has not prepared a Feasibility Study as part of its earn-back or if no Feasibility Study has been previously approved, Holdco may, if its Board approves, prepare a Feasibility Study as a separate Program. The Feasibility Study which is prepared by the Operator shall include an assessment of the same elements as set out in paragraph and is to be in a form which the Operator, acting in good faith, considers suitable for each of the parties in arranging production financing for their respective shares of mine costs. Holdco’s Board shall not meet to consider a Feasibility Study, whether prepared by TCAM as part of its earn-back or the Operator under this paragraph , any sooner than 60 days after it was delivered to each party, unless the parties agree to an earlier meeting. Each party is entitled to elect, upon notice to the Operator within 90 days after the date the Board approved a production decision, to participate in the construction and operating costs required to construct and operate the mine at its then percentage shareholding, or some lesser percentage (but at least 10%), in which latter case the shareholdings of the parties shall be adjusted so that each party has a shareholding percentage equivalent to its level of participation.
Production Decision. 10.14 For ninety (90) days following a positive production decision, each party to the Joint Venture will have the right to elect to participate in the financing in proportion to its then current participating interest in the Joint Venture. If a party does not elect to participate in the financing, or is unsuccessful in raising its proportionate share of the financing, then the other party may arrange all the financing required and if it does so, the participating interest of the party which has not provided its share of the financing will be converted to a two percent (2%) Net Smelter Return, to be determined and paid as provided in Schedule “D” hereto. Reclamation Fund
Production Decision. (a) The Operator should prepare a Feasibility Study only upon receipt of instructions to do so from the Management Committee.
Production Decision. 29.1 Holdco may, if its Board approves, prepare a Feasibility Study, as herein defined, as a separate program. The Feasibility Study which is prepared by the Operator and is to be in a form which the Operator, acting in good faith, considers suitable for each of the parties to present to a lender in an application for production financing for their respective shares of mine construction costs. The Board shall not meet to consider a Feasibility Study any sooner than 60 days after it was delivered to each party, unless the parties agree to an earlier meeting. Each party is entitled to elect, upon Notice to the Operator within 90 days after the date the Board approved a production decision, to participate in the construction and operating costs required to construct and operate the mine at its then percentage shareholding, or some lesser percentage (but at least 10%), in which latter case the shareholdings of the parties shall be adjusted as contemplated in §28 so that each party has a shareholding percentage equivalent to its level of participation. If any party elects not to contribute at a level of at least 10% then such party shall be deemed to have assigned and conveyed its shares in Holdco and rights under this Agreement to the other party and in return it will receive a royalty after payback of capital costs equal to 1.0% of net smelter returns defined and to be calculated and paid as set out in Schedule Error! Reference source not found.”.
Production Decision. Any decision to construct a mine to place the Property into production is to be based on a Feasibility Study approved by the Management Committee that will be prepared by the Manager as a separate Program under section 17. The Feasibility Study shall include an assessment of the financing alternatives and is to be in a form which the Manager, acting in good faith, considers suitable for each of the parties to present to international lenders in arranging production financing for their respective shares of mine construction Costs. The Management Committee shall not meet to consider a Feasibility Study any sooner than 90 days after it was delivered to each party, unless the parties agree to an earlier meeting. Each party is entitled to elect, upon notice to the Manager within 30 days after the date the Management Committee approved a production decision, to participate in the construction and operating Costs required to construct and operate the mine at its then percentage shareholding, or some lesser percentage (but at least 10% of the total Interests), in which latter case the Interests of the parties shall be adjusted so that each party has an Interest percentage equivalent to its level of participation. The Manager may only proceed to implement an approved production decision if elections have been made so that the projected construction Costs are fully funded. Except as permitted under section 20 or with the consent of all parties, no party shall pledge, charge or otherwise encumber its Interest.
Production Decision. No “Production Decision”, as such term is defined in the Shareholders’ Agreement, has been reached by the directors of Minera pursuant to the terms of the Shareholders’ Agreement.
Production Decision. Kennecott's right to receive such shares shall be contingent upon La Teko not surrendering the MD Project to Bering Straits Native Corporation.
Production Decision. Within five (5) Days following the completion of the Development Documentation, copies thereof shall be delivered by the Project Company to each of Pan American and MRT. Within ninety (90) Days after the Development Documentation is so delivered to the Parties, each of the Parties may deliver to the other Party and the Project Company a written notice stating that it elects not to participate (“Withdrawal Notice”) in the financing of the Project operations pursuant to the Development Documentation. Unless otherwise agreed by the Parties, the Withdrawal Notice, once issued, shall not be capable of being withdrawn.
