Work Expenditures definition
Work Expenditures is defined as sums spent or incurred by Company directly on the Property for exploration and development of the Property, including drilling, geochemical sampling, geophysical or seismic survey, assaying, and ore reserve calculation; metallurgical and engineering analyses; environmental and permitting analyses and activities; feasibility studies; and financing investigations; plus 5% of such direct costs in lieu of headquarters overhead and general and administrative expenditures.
Work Expenditures means and include all costs or fees, expenses, liabilities and charges paid or incurred by PDUS which are related to Exploration, Development and Related Work conducted during the Earn-In Period (specifically excluding the Initial Payment and any Periodic Payments), including without limitation:
Work Expenditures means [***]*.
Examples of Work Expenditures in a sentence
Company hereby represents and warrants to Claimholder that it has adequate financial resources to make the payments required under this Section 3, as well as the Work Expenditures required under Section 4.
If Company fails to perform the total amount of such Work Expenditures, Company shall pay Claimholder the deficiency in immediately available funds.
Lessee shall furnish Lessor with copies of any agreements (including, but not limited to, haulage, milling, refining, extracting, and ore and concentrate purchase agreements), and any amendments thereto, which in any way relate to the determination of Production Royalties and Work Expenditures under this Lease.
Any excess of Work Expenditures in any year shall be carried forward to the succeeding year.
Lessee shall expend the following amounts (the “Required Work Expenditures”) on work on the property annually: 2011-2012 - $100,000 physical work which would be cumulative 2013 and thereafter - $200,000 which includes $150,000 physical work All Required Work Expenditures are to be spent annually and must always include all fees and claim maintenance costs at a minimum.
More Definitions of Work Expenditures
Work Expenditures means the minimum work obligations described in Sections 3.5 and 4.1 below and shall include, for purposes of this Agreement, the value of all time, money or equipment contributed to or used on or in connection with the Properties or the Area of Interest by Lessee in good faith, including but not limited to all consultants' time, all costs of testing and assaying and all other expenses reasonably necessary to evaluate the Properties or the Area of Interest. Work Expenditures shall include (a) geological evaluation, geophysical study, geochemical analysis, rock and soil sampling, geological mapping and similar activities affecting the Properties or the Area of Interest; (b) drilling, trenching, road construction and pad construction (plus associated stand-by time) and other physical work on the Properties or the Area of Interest; (c) environmental, permitting and reclamation expenditures; (d) title examination and title curative, remonumentation of unpatented mining claims, survey (or re-survey), claim filing fees, taxes, and all other reasonable project maintenance or associated costs on or for the benefit of the Properties or the Area of Interest, including without limitation the maintenance activities described in Sections 3.2 and 4.1 acquisition of property within the Area of interest.
Work Expenditures means and include all costs or fees, expenses, liabilities and charges paid or incurred by ODE which are directly related to the exploration, development and mining of the Property conducted during the Earn-In Period, including without limitation:
Work Expenditures shall have the meaning ascribed thereto in Schedule B.
Work Expenditures is defined as sums spent or incurred by Company directly on the Property for exploration and development of the Property, including drilling, geochemical sampling, geophysical or seismic survey, assaying, and ore reserve calculation; metallurgical and engineering analyses; environmental and permitting analyses and activities; feasibility studies; and financing investigations; plus 5% of such direct costs in lieu of headquarters overhead and general and administrative expenditures. It is the parties' intention that work be done each year at the Oatman Project, with some work to be done at one or more of the other projects. In the event that, for two consecutive work years, Work Expenditures at any of the projects are less than $2,500 (an "Inactive Project"), Claimholder may request termination of the Lease with respect to the Inactive Project, whereupon Company may either pay Claimholder $2,500 to keep the Inactive Project subject to the Lease or Company may return the Inactive Project to Claimholder.
Work Expenditures means the 'minimum work obligations described in Sections 3.5 and 4.1 below and shall include, for purposes of this Agreement, the value of all time, money or equipment contn]~uted to or used on or in connection with the Properties or the Area of Interest by Lessee in good faith, including but not limited to all consultants' time, all costs of testing and assaying and all other expenses reasonably necessary to evaluate the Properties or the Area of Interest. Work Expenditures shall include (a) geological evaluation, geophysical study, geochemical analysis, rock and soil sampling, geological mapping and similar activities affecting the Properties or the Area of Interest; (b) drilling, trenching, road construction and pad construction (plus associated stand-by time) and other physical work on the Properties or the Area of Interest; (c) environmental, permitting and reclamation ~ (d) title examination and title curative, remonumentation of unpatented mining claims, survey (or re-survey), claim filing fees, taxes, and all other reasonable project maintenance or associated costs on or for the benefit of the Properties or the Area of Interest, including without limitation the maintenance activities described in Sections 3.2 and 4.1 acquisition of property within the Area of interest.
Work Expenditures means all expenses, obligations, Costs and liabilities of whatever kind or nature spent or incurred directly or indirectly by the Operator up to the implementation of the production program, in connection with the exploration and development of the Property, including, without limiting the generality of the foregoing, moneys expended in maintaining the Property in good standing and in applying for and securing one or more mining leases in respect of the Property, moneys expended in doing and filing assessment work, expenses paid for or incurred in connection with any program of surface or underground prospecting, exploring, geophysical, geochemical and geological surveying, diamond drilling and trenching, drifting, raising and other underground work, assaying and metallurgical testing and engineering, environmental studies, data preparation and analysis, data processing services, submissions to government agencies with respect to production permits, in acquiring facilities, in making contributions to a contingency fund required by the Operator in paying the fees, wages, salaries, travelling expenses, and fringe benefits (whether or not required by law) of all persons engaged in work with respect to and for the benefit of the Property, in paying for the food, lodging and other reasonable needs of such persons and including a charge in lieu of overhead, management and other unallocatable costs, equal to the amounts determined (including administration fees payable to the Operator). Work Expenditures shall be deemed to be incurred upon the earlier of (a) the date of payment of same; or (b) the date upon which such Work Expenditures become due and payable pursuant to the applicable contractual obligation. TO THAT CERTAIN AGREEMENT BETWEEN AZIMUT EXPLORATION INC. OF THE FIRST PART AND NORTHWESTERN MINERAL VENTURES INC. OF THE SECOND PART MADE AS OF THE 9TH DAY OF JANUARY, 2007
Work Expenditures means all expenses, obligations and liabilities of whatever kind or nature spent or incurred directly or indirectly by the operator up to the implementation of the production program, in connection with the exploration and development of the Property, including, without limiting the generality of the foregoing, moneys expended in maintaining the Property in good standing and in applying for and securing one or more mining leases in respect of the Property, moneys expended in doing and filing assessment work, expenses paid for or incurred in connection with any program of surface or underground prospecting, exploring, geophysical, geochemical and geological surveying, diamond drilling and trenching, drifting, raising and other underground work, assaying and metallurgical testing and engineering, environmental studies, data preparation and analysis (including amounts in respect of the provision of data processing services by the Optionor, as may be requested by the Optionee, from time to time), submissions to government agencies with respect to production permits, in acquiring facilities, in making contributions to a contingency fund required by the operator in paying the fees, wages, salaries, travelling expenses, and fringe benefits (whether or not required by law) of all persons engaged in work with respect to and for the benefit of the Property, in paying for the food, lodging and other reasonable needs of such persons and including a charge in lieu of overhead, management and other unallocable costs, equal to the amounts determined. SCHEDULE E