Expenditure Commitments Clause Samples

Expenditure Commitments. (i) Reimburse to Ammogem Canada exploration and development costs of up to $10,000 by December 31, 2006, which work shall be conducted by Ammogem Canada under the direction of a qualified geologist or project engineer.

Expenditure Commitments. 4.1 The Option will be exercised by the Optionee: (a) by paying the Optionor $500,000 as follows (i) $100,000 within 5 business days of the Effective Date ; (ii) a further $100,000 on or before the first anniversary of the Effective Date; (iii) a further $100,000 on or before the second anniversary of the Effective Date; (iv) a further $100,000 on or before the third anniversary of the Effective Date; and (v) a further $100,000 on or before the fourth anniversary of the Effective Date; (b) by issuing to the Optionor a total of 9,000,000 common shares in capital stock of the Optionee, representing 25% of the pre-funding share structure of the Optionee, and by requiring ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ to cancel 56,000,000 restricted affiliate shares in the capital stock of the Optionee; and (c) by incurring minimum Exploration Costs of $8,000,000 on the Property, as follows: (i) $1,600,000 on or before the first anniversary of the Effective Date; (ii) a further $1,600,000 on or before the second anniversary of the Effective Date; (iii) a further $1,600,000 on or before the third anniversary of the Effective Date; (iv) a further $1,600,000 on or before the fourth anniversary of the Effective Date; and (v) a further $1,600,000 on or before the fifth anniversary of the Effective Date. 4.2 Provided the Optionee is not in default of the requirements of 4.1, once the Optionee has incurred: (a) $4,000,000 of the $8,000,000 in Exploration Costs set out in sub-paragraph 4.1(c) the Optionee will have immediately acquired an initial 40%, and (b) the entire $8,000,000 in Exploration Costs set out in sub-paragraph 4.1(c) the Optionee will have immediately acquired an additional 40% (80% total), undivided right, title and interest in and to the Property, free and clear of all charges, encumbrances and claims, and the Optionor will execute and deliver to the Optionee, such transfer(s) as will be effective to transfer and convey the 40% and further 40% undivided legal and beneficial interest in the Property. The Optionor also agrees to do all things necessary to enable the Optionee to register its interests in the Property. 4.3 Until the Optionee has earned in its 80% interest in the Property, the Optionor will keep the Property in good standing, free and clear of all liens and encumbrances resulting from its activities, by the doing and filing of assessment work as described in paragraph 7.2(a).

Expenditure Commitments. To the Knowledge of Aspen there were no commitments or proposals by third parties for the work over of any well, the drilling of a new well, installation of any equipment which would in the aggregate result in the expenditure after June 1, 1997, of more than $5,000.00.

Expenditure Commitments. Provide funding of minimum cumulative expenditures for exploration and development work on the Claims of at least $85,000 under the direction of a qualified geologist or project engineer as follows: (i) $10,000 of expenditures to be incurred or caused to be incurred, by the Optionee on the Claims by January 1, 2002; (ii) No less than a further $25,000 of expenditures to be or caused to be incurred, by the Optionee on the Claims by October 31, 2002; and (iii) No less than a further $50,000 of Expenditures to be incurred, or caused to be incurred by the Optionee on the Claims by January 1, 2003.

Expenditure Commitments provide funding for or expend, in accordance with the terms and conditions of this Agreement, minimum cumulative Expenditures for Exploration and Development work on any of the mineral property concession interests comprising the Property of an aggregate of at least U.S. $825,000 within five years from the Effective Date hereof (which period in time from the Effective Date to the end of five years from the Effective Date being hereinafter referred to as the "Minimum Expenditure Period") in the following manner: (i) no less an initial U.S. $25,000 of the Expenditures for Exploration and Development work shall be expended, or cause to be expended, by the Optionee on any of the mineral property concession interests comprising the Property within one year from the Effective Date; (ii) no less an additional U.S. $200,000 of the Expenditures for Exploration and Development work shall be expended, or cause to be expended, by the Optionee on any of the mineral property concession interests comprising the Property within two years from the Effective Date; (iii) no less an additional U.S. $200,000 of the Expenditures for Exploration and Development work shall be expended, or cause to be expended, by the Optionee on any of the mineral property concession interests comprising the Property within three years from the Effective Date; (iv) no less an additional U.S. $200,000 of the Expenditures for Exploration and Development work shall be expended, or cause to be expended, by the Optionee on any of the mineral property concession interests comprising the Property within four years from the Effective Date; and (v) no less a final U.S. $200,000 of the Expenditures for Exploration and Development work shall be expended, or cause to be expended, by the Optionee on any of the mineral property concession interests comprising the Property within five years from the Effective Date; provided, however, that: (A) any Expenditures for Exploration and Development work expended in any year in excess of the minimum Expenditures required under this paragraph "3.2(c)" shall be fully credited against the Expenditures for Exploration and Development work the Optionor is required to expend in a subsequent year herein such that total minimum cumulative Expenditures for Exploration and Development work of at least U.S. $825,000 must be expended, or cause to be expended, by the Optionee on any of the mineral property concession interests comprising the Property prior to the termination of the...

Expenditure Commitments. 7.1. All expenditure commitments related to the Business Plan Commitments shall be expressed in nominal terms with respect to the relevant Operator Year in which such Business Plan Commitments are to be delivered. 7.2. For the avoidance of doubt, all amounts which SRT has committed (whether unconditionally or otherwise) pursuant to this Schedule 1.6 to expend in connection with improvements to track, Stations or Depots shall be in addition to any expenditure made by Network Rail as part of its infrastructure improvements or maintenance programme to the extent such expenditure is not directly funded or reimbursed by SRT.

Expenditure Commitments