TERMINATION OF MINING OPERATIONS. 18.01 The Operator may, at any time subsequent to the Completion Date, on at least 30 days notice to all Participants, recommend that the Management Committee approve that the Mining Operations be suspended. The Operator's recommendation shall include a plan and budget (in this article 18 called the "Mine Maintenance Plan"), in reasonable detail, of the activities to be performed to maintain the Assets and Property during the period of suspension and the Costs to be incurred. The Management Committee may, by Special Majority, at any time subsequent to the Completion Date, cause the Operator to suspend Mining Operations in accordance with the Operator's recommendation with such changes to the Mine Maintenance Plan as the Management Committee deems necessary. The Participants shall be committed to contribute their Proportionate Share of the Costs incurred in connection with the Mine Maintenance Plan. The Management Committee, by Special Majority, may cause Mining Operations to be resumed at any time.
TERMINATION OF MINING OPERATIONS. 13. The Optionee may permanently discontinue mining operations on the Property at any time after the Commencement of Commercial Production when in its opinion no further mining operations can be economically carried out thereon. At such time, the Optionee shall dispose of all mining plant and equipment used on the Property, effect all reclamation work as required by law, and otherwise dispose of the Property as it thinks fit. Any bona fide purchaser of the Property, dealing at arm's length, after termination of mining operations on the Property shall take the Property free and clear of all claims by the Optionor, save and except that the Property shall continue to be subject to payment of all Royalty pursuant to paragraph 12 of this Agreement. The accounts of the Optionee relating to its mining operation on the Property shall be audited by the auditors of the Optionee as soon as practicable after the sale or disposition of all mining plant and equipment from the Property and completion of reclamation. Final settlement of any Royalty payable to the Optionor shall be effected without delay after receipt of the final audited statements. After receipt of such final audited statements and payment of Royalty, if any, this Agreement and the mutual obligations of the Optionee and the Optionor hereunder shall terminate and the obligation to pay the Royalty to the Optionor, in accordance with this Agreement, shall transfer to the purchaser of the Property.
TERMINATION OF MINING OPERATIONS. 16. The Optionee may permanently discontinue mining operations on the Property at any time after the Commencement of Commercial Production when in its opinion no further mining operations can be economically carried out thereon. At such time, the Optionee shall dispose of all mining plant and equipment used on the Property, effect all reclamation work as required by law, and otherwise dispose of the Property as it thinks fit. Any purchaser of the Property after termination of mining operations on the Property shall take the Property free and clear of all claims by the Optionor. The accounts of the Optionee relating to its mining operations on the Property shall be audited by the auditors of the Optionee as soon as practicable after the sale or disposition of all mining plant, equipment and the Property, and completion of reclamation. Final settlement of any Royalty payable to the Optionor shall be effected without delay after receipt of the final audited statements. After receipt of such final audited statements and payment of Royalty, if any, this Agreement and the mutual obligations of the Optionee and the Optionor hereunder shall terminate.
TERMINATION OF MINING OPERATIONS. 13.1. The Operator may, at any time subsequent to the Completion Date, on at least 30 days notice, recommend that Sunburst de Mexico approve that the Mining Operations be suspended. The Operator’s recommendation shall include a plan and budget (in this article called the “Mine Maintenance Plan”), in reasonable detail, of the activities to be performed, to maintain the assets and Property during the period of suspension and the Costs to be incurred. Sunburst de Mexico may at any time subsequent to the Completion Date, cause the Operator to suspend Mining Operations in accordance with the Operator’s recommendation with such changes to the Mine Maintenance Plan as Sunburst de Mexico deems necessary. Sunburst de Mexico may cause Mining Operations to be resumed at any time.
TERMINATION OF MINING OPERATIONS. 18.01 The Operator, at the direction of the Management Committee, may at any time by notice to all the Participants terminate permanently all Mining Operations.
TERMINATION OF MINING OPERATIONS. 13.1 Mine Maintenance Plan The Operator may, at any time recommend that the Board approve that the Operations be suspended. The Operator’s recommendation will include a plan and budget (in this Article 13 called the “Mine Maintenance Plan”), in reasonable detail, of the activities to be performed to maintain the Assets and Properties during the period of suspension and the Expenditures to be incurred. The Board may, at any time cause the Operator to suspend Operations in accordance with the Operator’s recommendation with such changes to the Mine Maintenance Plan as the Board deems necessary. The Shareholders will be committed to contribute their Proportionate Share of the Expenditures incurred in connection with the Mine Maintenance Plan. The Board may cause Operations to be resumed at any time.
TERMINATION OF MINING OPERATIONS. 18.1 The Optionee and Sphere may permanently discontinue mining operations on the Property at any time after the Commencement of Commercial Production prior to the formation of the Joint Venture when in their opinion no further mining operations can be economically carried out thereon. At such time, the Optionee and Sphere shall dispose of all mining plant and equipment used on the Property, effect all reclamation work as required by law, and otherwise dispose of the Property as they think fit. Any purchaser of the Property after termination of mining operations on the Property shall take the Property free and clear of all claims by the Optionor. The accounts of the Optionee and Sphere relating to their mining operations on the Property shall be audited by the auditors of the Optionee as soon as practicable after the sale or disposition of all mining plant, equipment and the Property, and completion of reclamation. Final settlement of any payments and Royalty payable to the Optionor and Lessor shall be effected without delay after receipt of the final audited statements. After receipt of such final audited statements and payment of Royalty, if any, this Agreement and the mutual obligations of the Optionee and Sphere and the Optionor hereunder shall terminate.
TERMINATION OF MINING OPERATIONS
