Reclamation Bonds. 48 3.10. Contracts............................................................................................ 49 3.11.
Reclamation Bonds. SECTION 5.7 of the Disclosure Schedule contains a list of all bonds, including guaranties, indemnities, letters of credit and other forms of surety, posted by and/or for the benefit of the Seller to secure the performance of its respective reclamation or other Liabilities pursuant to, in connection with or as a condition of, the Permits (collectively, the "the Seller's Bonds"). The Seller's Bonds are sufficient to permit Seller to conduct the Mining Activities being conducted by it in compliance with Laws and are in full force and effect.
Reclamation Bonds. Schedule 3.8 contains a list of all bonds, including guaranties, indemnities, letters of credit and other forms of surety, posted by and/or for the benefit of the Asset Sale Companies to secure the performance of their respective reclamation or other Liabilities pursuant to, in connection with or as a condition of, the Permits (collectively, the "PCC Bonds"). The PCC Bonds are sufficient to permit the Asset Sale Companies and their Affiliates to conduct the Mining Activities in compliance with Laws and are in full force and effect.
Reclamation Bonds. 14 7.10 Standard of Care........................................... 14 8. FORCE MAJEURE....................................................... 14
Reclamation Bonds. During the Earn-in Period, (i) the Optionee shall reimburse Optionor for any existing reclamation bonds, and provide any additional funds required for reclamation bonds related to its activities on the Property and shall be entitled to receive the funds securing such bonds when such bonds are released, and (ii) shall perform reclamation work required in connection with its activities on the Property. If a joint venture or LLC is formed in accordance with Section 3.2 hereof, the reclamation obligations associated with any disturbances of the Property made by Optionee during the Earn-In Period shall become obligations of the joint venture or LLC, and the joint venture or LLC shall reimburse Optionee for the funds Optionee previously provided for reclamation bonds. If Optionee terminates this Agreement prior to acquiring an interest in the property, Optionee shall complete reclamation work required as a result of activities conducted on the Property in compliance with this Agreement, or Optionor shall complete such reclamation work at Optionee's written request and at Optionee's expense.
Reclamation Bonds. (a) The Purchaser shall, at its sole cost, provide all bonds, bond riders, transfers of existing bonds or other security necessary for the filing of any Transfer Application or for the completion of any Transfer; and
(b) From and after the Closing, Purchaser shall use its reasonable commercial efforts to obtain promptly the full and unconditional release of the Seller from any liability to the issuing surety associated with the issuance of any Reclamation Bond and/or the Transfer of each Reclamation Bond from the Seller to Purchaser set forth on Schedule 6.9, including the following:
(i) furnishing a letter of credit or other security (“Substitute Security”) to replace and cause the release of any letter of credit or other security provided by the Seller (“Seller’s Security”) to secure each Reclamation Bond; and/or
(ii) obtaining and posting with the relevant Governmental Authority new bonds necessary to fully obtain the Permits and the replacement and release of Seller’s Security (“Substitute Bonds”). In no event shall the Substitute Security and/or Substitute Bond be supplied, and the Seller’s Security be released, more than fifteen (15) Business Days after the Closing Date; provided, that such period may be extended only for so long as the sole impediment to the Purchaser providing the Substitute Security and/or Substitute Bond and obtaining the release of Seller’s Security is a delay by the surety in accepting the Substitute Security and/or Substitute Bond.
(c) The Seller shall maintain each Seller’s Security until such time as the Seller’s Security has been completely and unconditionally released in connection with a Reclamation Bond and the related Transfer have been completed. Until such time as the Seller’s Security has been completely and unconditionally released in connection with a Reclamation Bond and the related Transfer have been completed, Purchaser shall not effect any amendments or modifications or any other changes to the Permits related to such Transfer, the Contracts related thereto or any obligations to which such Reclamation Bond relates, or to otherwise take any action, in each case that increases, extends or accelerates the liability of the Seller or Seller’s Security under such Reclamation Bond, without the Seller’s prior written consent. The Purchaser shall reimburse the Seller on a monthly basis for all costs and expenses incurred by the Seller or the Affiliates of the Seller with respect to all Seller’s Security and Reclamation ...
Reclamation Bonds. For any Development Application that requires clearing or grubbing of land shall be accompanied by a bond (or other security reasonably acceptable to the Town) in the standard Utah form for “reclamation bonds” for the reclamation of the disturbed area. A reclamation bond shall contain standard Utah provisions for the release and transfer between Developments.
Reclamation Bonds. During the Earn-in Period, (i) the Purchaser shall reimburse Lithium for any existing reclamation bonds, and provide any additional funds required for reclamation bonds related to its activities on the Property and shall be entitled to receive the funds securing such bonds when such bonds are released, and (ii) shall perform reclamation work required in connection with its activities on the Property. If a joint venture or LLC is formed in accordance with Section 3.2 hereof, the reclamation obligations associated with any disturbances of the Property made by Purchaser during the Earn-In Period shall become obligations of the joint venture or LLC, and the joint venture or LLC shall reimburse Purchaser for the funds Purchaser previously provided for reclamation bonds. If Purchaser terminates this Agreement prior to acquiring an interest in the property, Purchaser shall complete reclamation work required as a result of activities conducted on the Property in compliance with this Agreement, or Lithium shall complete such reclamation work at Purchaser's written request and at Purchaser's expense.
Reclamation Bonds. The Credit Parties shall maintain, in the amounts and forms required pursuant to Mining Law or by a Governmental Authority, all performance bonds, surety bonds, escrow agreements, certificates of deposit, letters of credit or other sums or assets required to be posted under any Mining Law, and shall timely perform all Reclamation required by Mining Laws, except, in each case, to the extent failure to do so could not reasonably be expected to result in a Materially Adverse Effect.
Reclamation Bonds. 26 5. Conditions Precedent to Buyer's Obligation to Close............26 5.1 Accuracy Of Representations...........................26 5.2 Performance Of Obligations............................27 5.3 Required Filings And Consents.........................27 5.4 No Material Adverse Effect............................27 5.5 Third Party Consents..................................27 5.6 Acceptance Of Certain Financial Assurances............27
