Common use of Emergency or Unexpected Expenditures Clause in Contracts

Emergency or Unexpected Expenditures. In case of emergency, the Manager may take any reasonable action it deems necessary to protect life, the Project and Assets, or to comply with Laws. The Manager may incur reasonable Expenditures for emergency events which are beyond its reasonable control and which do not result from a breach by it of its standard of care (the “Emergency Events”). The Manager shall promptly notify the Parties of any Emergency Event and expenditures incurred in relation thereto shall constitute Expenditures under this Agreement and subsequent to the Option Period, shall be funded by the Parties in accordance with the terms of this Agreement. For greater certainty, it is expressly understood by the Parties that upon the occurrence of an Emergency Event during the Option Period, expenditures incurred in relation thereto shall constitute Expenditures under Section 3.2 of this Agreement and shall therefore be funded by Osisko only.

Emergency or Unexpected Expenditures. In case of emergency, the Manager may take any reasonable action it deems necessary to protect life, the Project and Assets, or to comply with Laws. The Manager may incur reasonable Expenditures for emergency events which are beyond its reasonable control and which do not result from a breach by it of its standard of care (the “Emergency Events”). The Manager shall promptly notify the Parties of any Emergency Event and expenditures incurred in relation thereto shall constitute Expenditures under this Agreement and subsequent to the Option Period, shall be funded by the Parties in accordance with the terms of this Agreement. For greater certainty, it is expressly understood by the Parties that upon the occurrence of an Emergency Event during the Option Period, expenditures incurred in relation thereto shall constitute Expenditures under Section 3.2 of this Agreement and shall therefore be funded by Osisko ▇▇▇▇▇▇ only.