Feb 8 02:16
4 mos ago
11 viewers *
English term

Carried Working Interest

Non-PRO FVA English to Spanish Tech/Engineering Petroleum Eng/Sci
I'm repeating question because it seems not clear the previous answer, feel free to close this question if do not apply, thank you

***Carried Working Interest*** means the undivided ten percent (10%) working interest in and to the Claims to be retained by Vendor or its assignee at Closing. The said ten percent (10%) working interest will be “carried” in all respects, meaning that the owners of the other ninety percent (90%) of the working interest shall be responsible and pay for one hundred percent (100%) of all costs associated with the development of the Claims through to the completion of a “feasibility study” (as that term is defined in National Instrument 43-101) and the public announcement (“Production Notice”) by the said owners that they intend to place the Claims into commercial production. Without limiting the generality of the foregoing, the Carried Working Interest holder will not be responsible for any costs incurred through all phases of exploration and development up to (but not including) construction costs for a full scale uranium mine. For certainty, the holder of the Carried Working Interest shall not be required to pay any amounts relating to exploration of the Claims, environmental and/or feasibility assessments and studies, obtaining mining permits, construction of a test pilot facility, testing, mine design and engineering costs and any other matters which generally occur in Canadian mining projects prior to the actual construction of a full scale mine;
Votes to reclassify question as PRO/non-PRO:

PRO (2): Richard Velazquez, patinba

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Proposed translations

18 hrs

(Titularidad de) Beneficios de explotación

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