Examples of Teck Agreement in a sentence
The Teck Agreement provides for Teck to earn an interest in the property as follows: Stage 1: Teck has an initial option to earn a 51% interest in the DD Property by incurring $4 million of expenditures by January 31, 2021 (the “First Option”).
Under the terms of the Teck Agreement, Teck completed a private placement financing with the Company during a prior fiscal year whereby the Company issued 1,000,000 common shares at $0.70 per share for total proceeds of$700,000 which resulted in the Company and Teck each holding a 50% interest in the combined properties.
Additionally, if the Company sells or options all or a portion of the property to a third party at any time during a 60-month period commencing from the date of the Teck Agreement, the Company will pay to Teck 20% of the sale proceeds, net of exploration expenses incurred on the property by the Company following closing.
The Teck Agreement provided for Teck to earn an interest in the property as follows: Stage 1: Teck had an initial option to earn a 51% interest in the DD Property by incurring $4 million of expenditures by January 31, 2021 (the “First Option”).
On December 7, 2009, the Company replaced the memorandum of understanding with the Fronteer Teck Agreement, which was finalized subsequent to year-end.
The Partnership will provide a similar guarantee to the Guarantee in respect of the refinancing of all or any portion of the Fording Credit Facility provided that the principal amount being refinanced is not greater than $440 million and the terms and conditions of such replacement guarantee are no more onerous to the Partnership or Teck than those of the Guarantee taking into consideration the terms of the Teck Agreement.
The modulation is AQPSK (I and Q datastreams use different clock sources and require separate independent clock recovery).
Fording LP directly, and Fording indirectly, holds a 60% general partnership interest in the Partnership free and clear of all liens, mortgages, charges, pledges, security interests, encumbrances, claims or demands, other than Permitted Encumbrances and rights under the EVCP Partnership Agreement and the Teck Agreement.
For greater certainty, except as expressly contemplated herein, or in the Confidentiality Agreement, neither this Agreement nor the Confidentiality Agreement is intended to modify the respective rights and obligations of the Parties and, to the extent applicable, their respective affiliates, under any of the Teck Agreement, the EVCP Partnership Agreement, the Governance Agreement, and the services agreements referenced in Section 5.12 hereof.
For greater certainty, except as expressly provided herein, Purchaser does not waive or relinquish any right of first offer under the Teck Agreement or the EVCP Partnership Agreement, which rights of first offer shall continue in accordance with their terms.