Common use of Representations, Warranties and Covenants of Party B Clause in Contracts

Representations, Warranties and Covenants of Party B. 3.1 That Party B is a company duly incorporated and validly subsisting under the laws of the jurisdiction where its business would require such a qualification. 3.2 That Party B has full power and authority to carry on its business and to enter into this Agreement and any agreement or instrument referred to in or contemplated by this Agreement and to carry out and perform all of its obligations and duties hereunder. 3.3 That Party B warrants having the financial capabilities to meet all the operating expenditure requirements of the project under the gold mining licenses known as ML296-301 and ML278 totalling approximately 26 hectares located at Xxxxxxx in Wau, Morobe Province, Papua New Guinea. 3.4 That Party B assures that immediately upon successful signing of this Agreement by Party A and Party B and is registered with Mineral Resources Authority (MRA) of the PNG government, it will purchase and bring in a new set of alluvial mining plant and equipment suitable for optimum, efficient and cost effective production operations within ML296-301 and ML278 at Xxxxxxx, Wau, Morobe Province, PNG. 3.5 That Party B through its management and ownership rights reserves all rights to remove and/or replace any equipment from the site with intent to minimize costs and/or increase production for collective benefits, without any reference to Party A. 3.6 That Party B has the necessary expertise as the Operator to carry out mechanized alluvial mining operations under the gold mining leases known as ML296-301 and ML278 totalling approximately 26 hectares located at Xxxxxxx in Wau, Morobe Province, Papua New Guinea. 3.7 That Party B shall assume all the rights, obligations and statues of arising from Party B’s role as the Operator pursuant to this Agreement. 3.8 That Party B shall represent the Party A in any dealings with the Government in respect of ML296-301 and ML278 and sign any submissions to the Government on their behalf, but without prejudice to the right of any Party to make its own submissions to or to be present at any discussions with the Government.

Representations, Warranties and Covenants of Party B. 3.1 That Party B is a company duly incorporated and validly subsisting under the laws of the jurisdiction where its business would require such a qualification.. Party A initials Page 4 of 8 Party B initials 3.2 That Party B has full power and authority to carry on its business and to enter into this Agreement and any agreement or instrument referred to in or contemplated by this Agreement and to carry out and perform all of its obligations and duties hereunder. 3.3 That Party B warrants having the financial capabilities to meet all the operating expenditure requirements of the project under the gold mining licenses known as ML296-301 and ML278 totalling approximately 26 hectares located at Xxxxxxx in Wau, Morobe Province, Papua New Guinea. 3.4 That Party B assures that immediately upon successful signing of this Agreement by Party A and Party B and is registered with Mineral Resources Authority (MRA) of the PNG government, it will purchase and bring in a new set of alluvial mining plant and equipment suitable for optimum, efficient and cost effective production operations within ML296-301 and ML278 at Xxxxxxx, Wau, Morobe Province, PNG. 3.5 That Party B through its management and ownership rights reserves all rights to remove and/or replace any equipment from the site with intent to minimize costs and/or increase production for collective benefits, without any reference to Party A. 3.6 That Party B has the necessary expertise as the Operator to carry out mechanized alluvial mining operations under the gold mining leases known as ML296-301 and ML278 totalling approximately 26 hectares located at Xxxxxxx in Wau, Morobe Province, Papua New Guinea. 3.7 That Party B shall assume all the rights, obligations and statues of arising from Party B’s role as the Operator pursuant to this Agreement. 3.8 That Party B shall represent the Party A in any dealings with the Government in respect of ML296-301 and ML278 and sign any submissions to the Government on their behalf, but without prejudice to the right of any Party to make its own submissions to or to be present at any discussions with the Government.

Representations, Warranties and Covenants of Party B. 3.1 That Party B is a company duly incorporated and validly subsisting under the laws of the jurisdiction where its business would require such a qualification.. Party A initials Page 4 of 8 Party B initials 3.2 That Party B has full power and authority to carry on its business and to enter into this Agreement and any agreement or instrument referred to in or contemplated by this Agreement and to carry out and perform all of its obligations and duties hereunder. 3.3 That Party B warrants having the financial capabilities to meet all the operating expenditure requirements of the project under the gold mining licenses known as ML296-301 and ML278 totalling approximately 26 hectares located at Xxxxxxx in Koxxxxx xn Wau, Morobe Province, Papua New Guinea. 3.4 That Party B assures that immediately upon successful signing of this Agreement by Party A and Party B and is registered with Mineral Resources Authority (MRA) of the PNG government, it will purchase and bring in a new set of alluvial mining plant and equipment suitable for optimum, efficient and cost effective production operations within ML296-301 and ML278 at XxxxxxxKoxxxxx, Wau, Morobe Province, PNG. 3.5 That Party B through its management and ownership rights reserves all rights to remove and/or replace any equipment from the site with intent to minimize costs and/or increase production for collective benefits, without any reference to Party A. 3.6 That Party B has the necessary expertise as the Operator to carry out mechanized alluvial mining operations under the gold mining leases known as ML296-301 and ML278 totalling approximately 26 hectares located at Xxxxxxx in Koxxxxx xn Wau, Morobe Province, Papua New Guinea. 3.7 That Party B shall assume all the rights, obligations and statues of arising from Party B’s 's role as the Operator pursuant to this Agreement. 3.8 That Party B shall represent the Party A in any dealings with the Government in respect of ML296-301 and ML278 and sign any submissions to the Government on their behalf, but without prejudice to the right of any Party to make its own submissions to or to be present at any discussions with the Government.