Minera Exar definition
Examples of Minera Exar in a sentence
All of the issued and outstanding capital stock or other equity or ownership interests of each of the Subsidiaries have been duly authorized and validly issued, are fully paid and non-assessable and, except for Minera Exar S.A. (which is not wholly-owned) are owned by the Corporation, directly or through Subsidiaries, free and clear of any security interest, mortgage, pledge, lien, encumbrance or adverse claim.
Notwithstanding anything contained herein to the contrary but subject to Section 5 hereof, the recourse of the Lender under this Agreement is limited to the exercise and enforcement of the Lender’s realization rights against all (100%) of the Minera Exar Distributions.
The Corporation does not beneficially own or exercise control or direction over 10% or more of the outstanding voting shares of any person or company other than the Subsidiaries, and the Corporation beneficially owns, directly or indirectly 100% of the issued and outstanding equity securities of the Subsidiaries, with the exception of Minera Exar SA in which the Corporation owns, directly and indirectly, 50% of the issued and outstanding equity securities.
Subject to Section 5 hereof, the Lender shall have no right to enforce against any of the Borrower’s property or assets other than all (100%) of the Minera Exar Distributions.
Subject to Section 5 hereof, the sole recourse of the Lender against the Borrower or any other LAC Party is with respect to the Lender’s right to ▇▇▇, seize, collect or otherwise realize upon all (100%), the Minera Exar Distributions.
The Credit Parties shall utilize the proceeds of the Loans to make Investments in and/or intercompany loans to Minera Exar, directly or indirectly, solely for the purpose of financing of the Stage 1 Project Costs, as such costs are generally set out in the sources and uses schedule attached to the relevant Borrowing Request.
Except Minera Exar S.A., no subsidiary of the Company is prohibited or restricted, directly or indirectly, from paying dividends to the Company, or from making any other distribution with respect to such subsidiary's equity securities or from repaying to the Company or any other subsidiary of the Company any amounts that may from time to time become due under any loans or advances to such subsidiary from the Company or from transferring any property or assets to the Company or to any other subsidiary.
Each of the Borrower and all other applicable LAC Parties at all times shall, and shall also use reasonable commercial efforts to exercise its rights under the Minera Exar JV Documents in a manner that is consistent with and that facilitates the payment and performance of the Obligations and ongoing compliance by the Credit Parties with the Loan Documents.
The Credit Parties shall, at all times, cause all Minera Exar Distributions payable to any LAC Party to be deposited to the relevant Distribution Account pursuant to the Minera Exar Distribution Direction.
Such Investments in and/or intercompany loans by the Credit Parties to Minera Exar shall at all times be in the same proportion, amount, frequency and nature as any Investments in and/or intercompany loans to Minera Exar by SQM and upon such other terms agreed to between the Borrower and SQM in accordance with the JV Documents.