SMM Subsidiary definition
Examples of SMM Subsidiary in a sentence
With effect following the execution of the funding and amendment agreement by and among the Borrower, the SMM Subsidiary and Sumitomo Metal Mining Co. Ltd.
Sections 4, 5, 7 and 8 of this Agreement shall come into force and effect concurrently with Section 2 of this Agreement coming into effect upon the satisfaction and fulfillment (or waiver by the SMM Subsidiary) of each of the Conditions Precedent in accordance with Section 2(g) on the Conditions Precedent Satisfaction Date.
In the event that the SMM Subsidiary does not provide any such written notice prior to January 1, 2024, the SMM Subsidiary shall be deemed to have elected to require IMG to proceed on the basis of (a) above.
Subject to Section 2(d)(viii)(C), the SMM Subsidiary's right, title and interest in and to the IMG Diluted Interests shall pass to IMG upon and subject to payment in full of the IMG Repurchase Price plus all applicable GST/HST thereon that is collectible by the SMM Subsidiary under section 221 of the Excise Tax Act (Canada).
In addition, the Parties shall, if requested by the SMM Subsidiary following the execution and delivery of this Agreement (and regardless of whether any actual recalculation of the Participant's Participating Interests has occurred), use reasonable efforts to apply for the consent of the MNDM to the increase of the SMM Subsidiary's registered interest in the mineral leases held by the Joint Venture to up to a percentage to be agreed by the Parties in connection with submitting any such application.
For greater certainty, upon satisfaction (or waiver by the SMM Subsidiary) of the Conditions Precedent, the SMM Subsidiary shall have no obligation to fund any Interim Participant Advance in respect of any Cash Call Notice that was issued prior to such satisfaction (or waiver), unless otherwise agreed to by the SMM Subsidiary.
References in this Section 6 to SMM will, in all instances, be read to include SMM Subsidiary unless specifically provided to the contrary below or unless the context otherwise requires.
Laurus, Holdings, SMM and SMM Subsidiary entered into a Security and Purchase Agreement dated September 25, 2006 (the “Security Agreement”).
Following the commencement of Commercial Production, SMM Subsidiary or its Affiliates shall have the right, but not the obligation, to second up to eight individuals to the Property from time to time.
The Operator shall instruct the refinery to deliver to or credit (as applicable) the SMM Subsidiary its Proportionate Share of the refined gold or silver in respect of such doré based on the SMM Subsidiary's Participating Interest (including for certainty the IMG Diluted Interests) immediately prior to the Repurchase Date.