Initial Project Area definition

Initial Project Area means the area comprised by the Borrower’s Departments of Arequipa, Ayacucho, Huancavelica, Huanuco, Junín, Lima, Pasco, and Piura;
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Initial Project Area means an area within a Typhoon Exploration Area sufficient to cover the footprint of the mineralization constituting the Technical Discovery, provided that such area shall not exceed twenty (20) square kilometers, as determined either (a) by mutual written agreement of the Parties, or (b) by the Independent Geologist, or (c) the Technical Expert, in accordance with the Agreement.
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Initial Project Area means that part of the Properties as more particularly depicted in Exhibit A as the Arctic Project and the Bornite Project.
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Examples of Initial Project Area in a sentence

  • Notwithstanding the foregoing, the Parties may, by mutual agreement, adopt an alternative structure whereby the relevant Initial Project Area and the new Option Exercise Price are contributed to an existing Project Company, rather than incorporating a new Project Company, if such structure is determined to be more efficient from technical, operational, legal, and/or tax perspectives.

  • Upon the determination of a Technical Discovery (whether by mutual agreement of the Parties or by determination of the Independent Geologist), unless the Parties mutually agree in writing on the Initial Project Area within thirty (30) days from the date on which a Technical Discovery is made, the Parties shall immediately request the Independent Geologist to determine the Initial Project Area related to such Technical Discovery.

  • The Parties shall duly cooperate with the Independent Geologist in order for the Independent Geologist to issue its determination on the Initial Project Area within six (6) months from the date on which it confirms in writing its availability to serve in such capacity.

  • In such case, SQM shall contribute the exploration information of such Initial Project Area to the Project Company according to Section 8.

  • For the avoidance of any doubt, and as specified in Annex B, SQM shall contribute or cause to be contributed to the Project Company, as capital (and which shall be regarded as its Tax Cost), the TEA-SQM Mining Concessions comprising the Initial Project Area, free and clear of all Liens.

  • The appointment of the Independent Geologist shall be made in accordance with Section 4.9.2, which Section shall apply mutatis mutandis for purposes of the determination of the Initial Project Area, except that, in this case, the fees and expenses of the Independent Geologist shall be borne equally by the Parties.

  • If the Independent Geologist is not able to define the Initial Project Area following the determination of a Technical Discovery, the Parties shall appoint the Independent Expert according to Article 7 below who shall determine the Initial Project Area according to the procedure set forth in ▇▇▇▇▇ ▇.

  • For the avoidance of doubt, the TEA Prohibition shall remain fully in force and in effect with respect to the TEA-SQM Mining Concession that host the Initial Project Area that are not contributed to the Project Company, until prefeasibility study is completed, according to the Shareholders Agreement.

  • Further, at the JV Incorporation Date, IE shall appear to the JV Incorporation deed to release the TEA Prohibition for the sole purpose of contributing and registering the SQM Mining Concessions comprising the Initial Project Area in the name of the Project Company.