Continuing Right to contribute to ongoing exploration Programs by non-Diluted Party Clause Samples

Continuing Right to contribute to ongoing exploration Programs by non-Diluted Party. Subsequent to any Party being deemed a Diluted Party by virtue of the dilutive operation of section "15.6" hereinabove, the remaining non-Diluted Party (or Parties as the case may be) may continue to elect or be required, as the case may be, in conjunction with the operation of sections "15.3" and "15.4" hereinabove, to continue to contribute its respective and Proportionate Share of the Exploration Costs to any Program. In this regard any such Exploration Cost amounts so contributed shall be treated as a loan to the Joint Operation, bearing interest calculated monthly not in advance from the 30th calendar day after its date of receipt at a rate equivalent to the Prime Rate plus two percent (2%) until paid, and each of which non-demand loan representing a lien upon the Interests of each Participant hereto until paid and being payable in full, at all times, in priority to any distribution of any kind to any Participant or ultimate Royalty Holder in accordance with the terms of this Agreement.
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