Common use of Matters Requiring Unanimous Consent Clause in Contracts

Matters Requiring Unanimous Consent. Notwithstanding anything in this Agreement to the contrary, the Management Committee will have no power to act in any of the following matters except by the unanimous consent of the Joint Venture Parties: (a) subject to clause 16, the sale or transfer of any Joint Venture Property other than in the ordinary course of business; (b) the expansion of Exploration outside the area the subject of the Property; (c) unless included in a budget, decisions to incur any indebtedness for borrowed money on behalf of the Joint Venture in relation to the Property, other than credit of less than $25,000 obtained in the ordinary course of business for the acquisition of goods and/or services; and