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. 18.02 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days notice to all Participants, or in the events described in paragraph 18.01, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's recommendation shall include a plan and budget (in this article 18 called the "Mine Closure Plan"), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary. 18.03 If the Management Committee approves the Operator's recommendation as aforesaid, it shall cause the Operator to: (a) implement the Mine Closure Plan, whereupon the Participants shall be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan; (b) remove, sell and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and (c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective Interests. 18.04 If the Management Committee does not approve the Operator's recommendation contemplated in paragraph 18.02, the Operator shall maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.01.
Appears in 3 contracts
Samples: Property Option Agreement (Revelstoke Industries, Inc.), Joint Venture Agreement (Baymont Corp), Joint Venture Agreement (Delbrook Corp)
TERMINATION OF MINING OPERATIONS. 18.01 The Operator may, at any time subsequent to the Completion Operative Date, on at least 30 days notice to all Participantsparties, recommend that the Management Shareholders’ 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 Shareholders’ Committee may, by Special Majority, at any time subsequent to the Completion Operative 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 Shareholders’ 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, Shareholders’ Committee may cause Mining Operations to be resumed at any time.
18.02 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days notice to all Participantsparties, or in the events described in paragraph 18.01, recommend that the Management Shareholders’ Committee approve the permanent termination of Mining Operations. The Operator's recommendation shall include a plan and budget (in this article 18 called the "Mine Closure Plan"), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreementand the Costs to be incurred. The Management Shareholders’ Committee may, by unanimous approval of the representatives of all Participants, may approve the Operator's recommendation with such changes to the Mine Closure Plan as the Management Shareholders’ Committee deems necessary.
18.03 If the Management Shareholders’ Committee approves the Operator's recommendation as aforesaid, it shall cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall be committed to pay, in proportion to their respective InterestsShare Participations, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective InterestsShare Participations.
18.04 If the Management Shareholders’ Committee does not approve the Operator's recommendation contemplated in paragraph 18.0211.02, the Operator shall maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.0111.01.
Appears in 2 contracts
Samples: Property Option Agreement (Hi Ho Silver Resources Inc.), Property Option Agreement (Hi Ho Silver Resources Inc.)
TERMINATION OF MINING OPERATIONS. 18.01 23.1 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 will 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 will 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.
18.02 23.2 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days notice to all Participants, or in conjunction with the events described in paragraph 18.0123.1, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's recommendation shall will include a plan and budget (in this article 18 called the "Mine Closure Plan"), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.
18.03 23.3 If the Management Committee approves the Operator's recommendation as aforesaid, it shall will cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall will be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell remove and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall will be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall will be credited to the Participants in proportion to their respective Interests.
18.04 23.4 If the Management Committee does not approve the Operator's recommendation contemplated in paragraph 18.0223.2, the Operator shall will maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.0123.1.
Appears in 2 contracts
Samples: Option and Joint Venture Agreement (Nu-Mex Uranium Corp.), Option and Joint Venture Agreement (Nu-Mex Uranium Corp.)
TERMINATION OF MINING OPERATIONS. 18.01 18.1 The Operator may, at any time subsequent to the Completion Date, on at least 30 180 days notice to all Participants, recommend that the Management Committee approve that the Mining Operations be suspended. The Operator's ’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 ’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.
18.02 18.2 The Operator may, at any time following a period of at least 90 180 days during which Mining Operations have been suspended, upon at least 30 90 days notice to all Participants, or in the events described in paragraph 18.0118.1, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's ’s recommendation shall include a plan and budget (in this article 18 called the "“Mine Closure Plan"”), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's ’s recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.
18.03 18.3 If the Management Committee approves the Operator's ’s recommendation as aforesaid, it shall cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective Interests.
18.04 18.4 If the Management Committee does not approve the Operator's ’s recommendation contemplated in paragraph 18.0218.2, the Operator shall maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.0118.1.
Appears in 2 contracts
Samples: Mining Option Agreement (Coastal Pacific Mining Corp), Mining Option Agreement (Pana-Minerales S.A.)
TERMINATION OF MINING OPERATIONS. 18.01 13.1. The Operator may, at any time subsequent to the Completion Date, on at least 30 days notice to all Participantsnotice, recommend that the Management Committee Sunburst de Mexico approve that the Mining Operations be suspended. The Operator's ’s recommendation shall include a plan and budget (in this article 18 13 called the "“Mine Maintenance Plan"”), in reasonable detail, of the activities to be performed performed, to maintain the Assets assets and Property during the period of suspension and the Costs to be incurred. The Management Committee may, by Special Majority, 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 ’s recommendation with such changes to the Mine Maintenance Plan as the Management Committee Sunburst de Mexico 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, Sunburst de Mexico may cause Mining Operations to be resumed at any time.
18.02 13.2. The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days notice to all Participants, or in the events described in paragraph 18.01Sunburst de Mexico, recommend that the Management Committee Sunburst de Mexico approve the permanent termination of Mining Operations. The Operator's operator’s recommendation shall include a plan and budget (in this article 18 13 called the "“Mine Closure Plan"”), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Cieneguita Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, Sunburst de Mexico may approve the Operator's ’s recommendation with such changes to the Mine Closure Plan as the Management Committee Sunburst de Mexico deems necessary.
18.03 13.3. If the Management Committee Sunburst de Mexico approves the Operator's ’s recommendation as aforesaid, it shall cause the Operator to:
(a) implement Implement the Mine Closure Plan, whereupon the Participants Sunburst de Mexico shall be committed to pay, in proportion to their respective Interests, pay such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell and dispose of such Assets assets as may reasonably be removed and disposed of profitably and such other Assets assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets assets and the Cieneguita Property.
13.4. The disposal price for the Assets assets and the Cieneguita Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective InterestsSunburst de Mexico.
18.04 13.5. If the Management Committee Sunburst de Mexico does not approve the Operator's ’s recommendation contemplated in paragraph 18.0213.1., the Operator shall maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.01Plan.
Appears in 1 contract
Samples: Operator's Agreement (Sunburst Acquisitions Iv Inc)
TERMINATION OF MINING OPERATIONS. 18.01 18.1 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 ’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 ’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, Committee may cause Mining Operations to be resumed at any time.;
18.02 18.2 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days notice to all Participants, or in the events described in paragraph 18.01, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's ’s recommendation shall include a plan and budget (in this article 18 called the "“Mine Closure Plan"”), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Joint-Venture Agreement Azimut Exploration Inc. & Northwestern Mineral Ventures Inc. Operator's ’s recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.;
18.03 18.3 If the Management Committee approves the Operator's ’s recommendation as aforesaidaforesaid in section 18.2, it shall cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective Interests.Interests at such time;
18.04 18.4 If the Management Committee does not approve the Operator's ’s recommendation contemplated in paragraph 18.0218.2, the Operator shall maintain suspend Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.0118.1.
Appears in 1 contract
Samples: Property Option Agreement (Northwestern Mineral Ventures Inc.)
TERMINATION OF MINING OPERATIONS. 18.01 13.1. The Operator may, at any time subsequent to the Completion Date, on at least 30 days notice to all Participantsnotice, recommend that the Management Committee Sunburst de Mexico approve that the Mining Operations be suspended. The Operator's ’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 performed, to maintain the Assets assets and Property during the period of suspension and the Costs to be incurred. The Management Committee may, by Special Majority, 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 ’s recommendation with such changes to the Mine Maintenance Plan as the Management Committee Sunburst de Mexico 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, Sunburst de Mexico may cause Mining Operations to be resumed at any time.
18.02 13.2. The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days notice to all Participants, or in the events described in paragraph 18.01Sunburst de Mexico, recommend that the Management Committee Sunburst de Mexico approve the permanent termination of Mining Operations. The Operator's operator’s recommendation shall include a plan and budget (in this article 18 called the "“Mine Closure Plan"”), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Cieneguita Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, Sunburst de Mexico may approve the Operator's ’s recommendation with such changes to the Mine Closure Plan as the Management Committee Sunburst de Mexico deems necessary.
18.03 13.3. If the Management Committee Sunburst de Mexico approves the Operator's ’s recommendation as aforesaid, it shall cause the Operator to:
(a) implement Implement the Mine Closure Plan, whereupon the Participants Sunburst de Mexico shall be committed to pay, in proportion to their respective Interests, pay such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell and dispose of such Assets assets as may reasonably be removed and disposed of profitably and such other Assets assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets assets and the Cieneguita Property.
13.4. The disposal price for the Assets assets and the Cieneguita Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective InterestsSunburst de Mexico.
18.04 13.5. If the Management Committee Sunburst de Mexico does not approve the Operator's ’s recommendation contemplated in paragraph 18.0213.1., the Operator shall maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.01Plan.
Appears in 1 contract
TERMINATION OF MINING OPERATIONS. 18.01 19.1 The Operator may, at any time subsequent to the Completion Date, on at least 30 days days’ notice to all Participants, recommend that the Management Committee approve that the Mining Operations be suspended. The Operator's ’s recommendation shall include a plan and budget (in this article 18 Section 19.0 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 ’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.
18.02 19.2 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days days’ notice to all Participants, or in the events described in paragraph 18.01Section 19.1, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's ’s recommendation shall include a plan and budget (in this article 18 Section 19.0 called the "“Mine Closure Plan"”), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's ’s recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.
18.03 19.3 If the Management Committee approves the Operator's ’s recommendation as aforesaid, it shall cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective Interests.
18.04 19.4 If the Management Committee does not approve the Operator's ’s recommendation contemplated in paragraph 18.02Section 19.2, the Operator shall maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.01Section 19.1.
Appears in 1 contract
TERMINATION OF MINING OPERATIONS. 18.01 18.1 The Operator may, at any time subsequent to the Completion Date, on at least 30 days days’ notice to all Participants, recommend that the Management Committee approve that the Mining Operations be suspended. The Operator's ’s recommendation shall include a plan and budget (in this article 18 Section 18.0 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 ’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.
18.02 18.2 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days days’ notice to all Participants, or in the events described in paragraph 18.01Section 18.1, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's ’s recommendation shall include a plan and budget (in this article 18 Section 18.0 called the "“Mine Closure Plan"”), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's ’s recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.
18.03 18.3 If the Management Committee approves the Operator's ’s recommendation as aforesaid, it shall cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective Interests.
18.04 18.4 If the Management Committee does not approve the Operator's ’s recommendation contemplated in paragraph 18.02Section 18.2, the Operator shall maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.01Section 18.1.
Appears in 1 contract
TERMINATION OF MINING OPERATIONS. 18.01 22.1 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 ’s recommendation shall will 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 ’s recommendation with such changes to the Mine Maintenance Plan as the Management Committee deems necessary. The Participants shall will 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.
18.02 22.2 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days notice to all Participants, or in conjunction with the events described in paragraph 18.0122.1, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's ’s recommendation shall will include a plan and budget (in this article 18 called the "“Mine Closure Plan"”), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's ’s recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.
18.03 22.3 If the Management Committee approves the Operator's ’s recommendation as aforesaid, it shall will cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall will be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell remove and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall will be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall will be credited to the Participants in proportion to their respective Interests.
18.04 22.4 If the Management Committee does not approve the Operator's ’s recommendation contemplated in paragraph 18.0222.2, the Operator shall will maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.0122.1.
Appears in 1 contract
Samples: Option and Joint Venture Agreement (Strathmore Minerals Corp.)
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 PlanMINE 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.
18.02 The Operator may, at any time following a period of at least 90 ninety (90) days during which Mining Operations have been suspended, upon at least 30 thirty (30) days notice to all Participants, or in the events described in paragraph 18.01, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's recommendation shall include a plan and budget (in this article 18 called the "Mine Closure PlanMINE CLOSURE PLAN"), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.
18.03 If the Management Committee approves the Operator's recommendation as aforesaid, it shall cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective Interests.
18.04 If the Management Committee does not approve the Operator's recommendation contemplated in paragraph 18.02, the Operator shall maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.01.
Appears in 1 contract
TERMINATION OF MINING OPERATIONS. 18.01 18.1 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 ’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 ’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, Committee may cause Mining Operations to be resumed at any time.;
18.02 18.2 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days notice to all Participants, or in the events described in paragraph 18.01, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's ’s recommendation shall include a plan and budget (in this article 18 called the "“Mine Closure Plan"”), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's ’s recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.; Joint-Venture Agreement Azimut Exploration Inc. & Northwestern Mineral Ventures Inc.
18.03 18.3 If the Management Committee approves the Operator's ’s recommendation as aforesaidaforesaid in section 18.2, it shall cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective Interests.Interests at such time;
18.04 18.4 If the Management Committee does not approve the Operator's ’s recommendation contemplated in paragraph 18.0218.2, the Operator shall maintain suspend Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.0118.1.
Appears in 1 contract
TERMINATION OF MINING OPERATIONS. 18.01 18.1 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 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.
18.02 18.2 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days notice to all Participants, or in the events described in paragraph 18.0118.1, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operatoroperator's recommendation shall include a plan and budget (in this article 18 called the "Mine Closure Plan"), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.
18.03 18.3 If the Management Committee approves the Operator's recommendation as aforesaid, it shall cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective Interests.
18.04 18.4 If the Management Committee does not approve the Operator's recommendation contemplated in paragraph 18.0218.2, the Operator shall maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.0118.1.
Appears in 1 contract
TERMINATION OF MINING OPERATIONS. 18.01 18.1 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 ’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 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 ’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.
18.02 18.2 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days notice to all Participants, or in the events described in paragraph 18.01, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's operator’s recommendation shall include a plan and budget (in this article 18 called the "“Mine Closure Plan"”), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's ’s recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.
18.03 18.3 If the Management Committee approves the Operator's ’s recommendation as aforesaid, it shall cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective Interests.
18.04 18.4 If the Management Committee does not approve the Operator's ’s recommendation contemplated in paragraph 18.02, the Operator shall maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.01.
Appears in 1 contract
TERMINATION OF MINING OPERATIONS. 18.01 21.1 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 ’s recommendation shall will 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 ’s recommendation with such changes to the Mine Maintenance Plan as the Management Committee deems necessary. The Participants shall will 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.
18.02 22.2 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days notice to all Participants, or in conjunction with the events described in paragraph 18.0122.1, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's ’s recommendation shall will include a plan and budget (in this article 18 called the "“Mine Closure Plan"”), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's ’s recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.
18.03 22.3 If the Management Committee approves the Operator's ’s recommendation as aforesaid, it shall will cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall will be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell remove and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall will be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall will be credited to the Participants in proportion to their respective Interests.
18.04 22.4 If the Management Committee does not approve the Operator's ’s recommendation contemplated in paragraph 18.0222.2, the Operator shall will maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.0122.1.
Appears in 1 contract
Samples: Option and Joint Venture Agreement (Strathmore Minerals Corp.)
TERMINATION OF MINING OPERATIONS. 18.01 18.1 The Operator may, at any time subsequent to the Completion Date, on at least 30 days days’ notice to all Participants, recommend that the Management Committee approve that the Mining Operations be suspended. The Operator's ’s recommendation shall include a plan and budget (in this article 18 Section 18.0 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 ’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.
18.02 18.2 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days days’ notice to all Participants, or in the events described in paragraph 18.01Section 18.1, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's ’s recommendation shall include a plan and budget (in this article 18 Section 18.0 called the "“Mine Closure Plan"”), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's ’s recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.
18.03 18.3 If the Management Committee approves the Operator's ’s recommendation as aforesaid, it shall cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective Interests.
18.04 If the Management Committee does not approve the Operator's recommendation contemplated in paragraph 18.02, the Operator shall maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.01.
Appears in 1 contract
Samples: Option Agreement (Source Gold Corp.)
TERMINATION OF MINING OPERATIONS. 18.01 18.1 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.
18.02 18.2 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days notice to all Participants, or in the events described in paragraph 18.0118.1, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's recommendation shall include a plan and budget (in this article 18 called the "Mine Closure Plan"), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.
18.03 18.3 If the Management Committee approves the Operator's recommendation as aforesaid, it shall cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective Interests.
18.04 18.4 If the Management Committee does not approve the Operator's recommendation contemplated in paragraph 18.0218.2, the Operator shall maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.0118.1.
Appears in 1 contract
TERMINATION OF MINING OPERATIONS. 18.01 18.1 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.
18.02 18.2 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days notice to all Participants, or in the events described in paragraph 18.0118.1, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's recommendation shall include a plan and budget (in this article 18 called the "Mine Closure PlanMINE CLOSURE PLAN"), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.
18.03 18.3 If the Management Committee approves the Operator's recommendation as aforesaid, it shall cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall be credited to the Participants in proportion to their respective Interests.
18.04 18.4 If the Management Committee does not approve the Operator's recommendation contemplated in paragraph 18.0218.2, the Operator shall maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.0118.1.
Appears in 1 contract
TERMINATION OF MINING OPERATIONS. 18.01 22.1 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 ’s recommendation shall will include a plan and budget (in this article 18 Article 22 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 ’s recommendation with such changes to the Mine Maintenance Plan as the Management Committee deems necessary. The Participants shall will 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.
18.02 22.2 The Operator may, at any time following a period of at least 90 days during which Mining Operations have been suspended, upon at least 30 days notice to all Participants, or in the events described in paragraph 18.0122.1, recommend that the Management Committee approve the permanent termination of Mining Operations. The Operator's ’s recommendation shall will include a plan and budget (in this article 18 Article 22 called the "“Mine Closure Plan"”), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Operator's ’s recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.
18.03 22.3 If the Management Committee approves the Operator's ’s recommendation as aforesaid, it shall will cause the Operator to:
(a) implement the Mine Closure Plan, whereupon the Participants shall will be committed to pay, in proportion to their respective Interests, such Costs as may be required to implement that Mine Closure Plan;
(b) remove, sell remove and dispose of such Assets as may reasonably be removed and disposed of profitably and such other Assets as the Operator may be required to remove pursuant to applicable environmental and mining laws; and
(c) sell, abandon or otherwise dispose of the Assets and the Property. The disposal price for the Assets and the Property shall will be the best price reasonably obtainable and the net revenues, if any, from the removal and sale shall will be credited to the Participants in proportion to their respective Interests.
18.04 22.4 If the Management Committee does not approve the Operator's ’s recommendation contemplated in paragraph 18.0222.2, the Operator shall will maintain Mining Operations in accordance with the Mine Maintenance Plan as pursuant to paragraph 18.0122.1.
Appears in 1 contract
Samples: Option and Joint Venture Agreement (Yellowcake Mining Inc.)