Royalties, Production Taxes and Other Payments Based on Production. All required payments of production royalties, taxes based on production of Products, and other payments out of production to private parties and governmental entities, shall be determined and made by the Company in a timely manner and otherwise in accordance with applicable laws and agreements. The Manager shall furnish to the Members evidence of timely payment for all such required payments. In the event the Company fails to make any such required payment, any Member shall have the right to make such payment and shall thereby become subrogated to the rights of such third party; provided, however, that the making of any such payment on behalf of the Company shall not constitute acceptance by the paying Member of any liability to such third party for the underlying obligation.
Royalties, Production Taxes and Other Payments Based on Production. All required payments of production royalties, taxes based on production of Products, and other payments out of production to private parties and governmental entities shall be determined and made by each Participant in proportion to its Participating Interest, and each Participant undertakes to make such payments timely and otherwise in accordance with applicable laws and agreements. If separate payment is not permitted, each Participant shall determine and pay its proportionate share in advance to the Participant obligated to make such payment and such Participant shall timely make such payment. Each Participant shall furnish to the other Participant evidence of timely payment for all such required payments. In the event that either Participant fails to make any such required payment, the other Participant shall have the right to make such payment and shall thereby become subrogated to the rights of such third party; provided, however, that the making of any such payment on behalf of the other Participant shall not constitute acceptance by the paying Participant of any liability to such third party for the underlying obligation.
Royalties, Production Taxes and Other Payments Based on Production. All required payments of production royalties, taxes based on production of Products, and other payments out of production payable or deliverable to private parties and governmental entities shall be determined and made by the Manager on behalf of the Venture.
Royalties, Production Taxes and Other Payments Based on Production. All required payments of (i) advance and production royalties, (ii) other amounts required by the Mining Lease, (iii) severance, resources, processor's and other taxes based on production of Products, and (iv) other payments out of such production to private parties and governmental entities, shall be determined and made by the Manager in a timely manner and otherwise in accordance with Law and agreements. The Manager shall at the request of a Member furnish to the Members evidence of timely payment. In the event the Manager fails to make any such required payment, a Member may make such payment and shall thereby become subrogated to the rights of the payee; provided, however, that the making of any such payment on behalf of the Company shall not constitute acceptance by the paying Member of any liability to such third party for the underlying obligation.
Royalties, Production Taxes and Other Payments Based on Production. All required payments of production royalties, taxes based on production of Products, and other payments out of production to private parties and governmental entities shall be determined and made by each Participant in proportion to its Participating Interest, and each Participant undertakes to make such payments timely and otherwise in accordance with applicable laws and agreements. If separate payment is not permitted, each Participant shall determine and pay its proportionate share in advance to the Participant obligated to make such payment and such Participant shall hold such amount in trust for the Participants and shall timely make such payment. Each Participant shall furnish to the other Participant evidence of timely payment for all such required payments. In the event that either Participant fails to make any such required payment, the other Participant shall have the right to make such payment and shall thereby become subrogated to the rights of such third party; provided, however, that the making of any such payment on behalf of the other Participant shall not constitute acceptance by the paying Participant of any liability to such third party for the underlying obligation.
Royalties, Production Taxes and Other Payments Based on Production. All taxes, assessments and like charges on Operations and Assets which are paid by the Company (provided that each Member shall be separately responsible for taxes determined or measured by a Member’s sales revenue or net income), as well as all required payments of production royalties, taxes based on production of Products, and other payments out of production to private parties and governmental entities, other than the minimum production royalties under the Hxxxxx Agreement (Exhibit D), which are the sole obligation of WEG pursuant to the WEG Contribution Agreement (Exhibit B), shall be determined and made by the Company in a timely manner and otherwise in accordance with applicable laws and agreements. The Company shall furnish to the Members evidence of timely payment for all such required payments. In the event the Company fails to make any such required payment, any Member shall have the right to make such payment and shall thereby become subrogated to the rights of such third party; provided, however, that the making of any such payment on behalf of the Company shall not constitute acceptance by the paying Member of any liability to such third party for the underlying obligation. In the event WEG fails to make any required payment under the Hxxxxx Agreement, the Company shall have the right to make such payment and shall thereby become subrogated to the rights of WEG thereunder; provided, however, that the making of any such payment on behalf of WEG shall not constitute acceptance by the Company of any liability to any third party for any underlying obligation. The Company may deduct the amount of any such payment from any subsequent distribution of proceeds, Products, or Net Cash Flow otherwise due to WEG.
Royalties, Production Taxes and Other Payments Based on Production. All required payments of production royalties, taxes based on production of Products, and other payments out of production to private parties and governmental entities, shall be determined and made by PT Masmindo or Salu Siwa, as the case may be, in a timely manner and otherwise in accordance with applicable laws and agreements. The Operator shall furnish to the Shareholders evidence of timely payment for all such required payments. In the event PT Masmindo or Salu Siwa, as the case may be, fails to make any such required payment, any Shareholder shall have the right to make such payment and shall thereby become subrogated to the rights of such third party; provided, however, that the making of any such payment on behalf of PT Masmindo or Salu Siwa shall not constitute acceptance by the paying Shareholder of any liability to such third party for the underlying obligation.
Royalties, Production Taxes and Other Payments Based on Production. All required payments of production taxes and other payments to private parties and governmental entities shall be determined and made by the Manager. In the event that the Manager fails to make any such required payment, the other Party shall have the right to make such payment and shall thereby become subrogated to the rights of such third party; provided, however, the making of any such payment on behalf of the Manager shall not constitute acceptance by the paying Party of any liability to such third party for the underlying obligation.
Royalties, Production Taxes and Other Payments Based on Production. All required payments of production royalties, taxes based on production of Products, and other payments out of production to private parties and governmental entities shall be determined and made by the Manager and charged to the Equity Account of each Participant in proportion to its Participating Interest at the time of such payment. If separate payment is required, each Participant shall determine and pay its proportionate share of any such payment, and, in such event, each Participant shall furnish to the other Participant evidence of timely payment for all such required payments. In the event that either Participant fails to make any such required payment, the other Participant shall have the right to make such payment and shall thereby become subrogated to the rights of such third party; provided, however, that the making of any such payment on behalf of the other Participant shall not constitute acceptance by the paying Participant of any liability to such third party for the underlying obligation.
Royalties, Production Taxes and Other Payments Based on Production. The Manager shall make all required payments of production royalties, taxes based on production of Products, and other payments out of production to private parties and governmental entities with such payments subject to timely reimbursement from each Participant in proportion to its Participating Interest. The Manager undertakes to make such payments timely and otherwise in accordance with applicable laws and agreements. The Manager may require each Participant to advance its proportionate share and each Participant shall timely advance such funds. The Manager shall record all funds received in the Business Account and maintain evidence of timely payment for all such required payments. In the event that either Participant fails to advance or reimburse its proportionate share of any such required payment, the other Participant shall have the right to advance such funds to cover such payment and shall thereby become subrogated to the rights of such third party; provided, however, that the reimbursement or advance of funds by the paying Participant to cover the share of the other Participant shall not constitute acceptance by the paying Participant of any liability to such third party for the underlying obligation.
