The recitals define the context and context of the transaction; they can also be a convenient means of recording the intentions of the parties, which could become valuable instruments of interpretation for a court in the event of litigation. The guarantee for the payment of a debt, any other monetary obligation or the performance of another obligation and includes any agreement to grant or create any of the aforementioned commitments. The “Definitions” section defines specific terms in the agreement. It should normally be included at the beginning of the agreement and certainly not with the recitals. Expert means a qualified person who is able to make an expert finding in accordance with this agreement, in accordance with the rules of the Institute of Arbitrators – Mediators Australia Expert Determination Rules. The administrative commission refers to the remuneration to be paid to the director under this agreement, which is intended to reimburse the director for indirect or general costs related to the company, administration and other management costs of the joint venture, which are not otherwise reimbursed to the director as direct expenses related to joint venture activities. Departure date of the date on which the last conditions set out in this agreement were met or cancelled or, in the absence of conditions, the date of the agreement. The third party is a person who is not a party or the related entity of a party participating in this agreement. The law is Commonwealth and state legislation, including regulations, statutes and other subordinate laws, requirements of authority and directives of the Commonwealth, the designated state and governments and local authorities whose compliance is legally required by contractors, as well as common law and equity with respect to the implementation of joint venture activities under this agreement. Approved program and budget: a program and budget for joint venture activities for a specified period of time, approved or deemed approved by the management committee in accordance with this agreement.
Joint venture activities are all exploration activities involved in the acquisition, operation, development, operation and maintenance of the Property Joint Venture, as well as all other activities, businesses and activities carried out by the joint ventures under this agreement, but do not include, unless otherwise agreed in writing, the development, mining, processing or marketing or sale of minerals. The plenipotentiary is the person designated by a party in his or her statements or any person who, in accordance with this agreement, is replaced as an authorized official. Due date: The date on which a payment is due under this agreement. Joint Venture Interest refers to the rights, commitments and commitments of a joint venture defined in this agreement and expressed as a percentage: recitals are not an operational element of the contract. However, a court may take this into account (if any) in deciding on the interpretation of part of the contract at issue. The data provided is information provided by a party on page 1 of this agreement or a specific amendment notified by the party by notification in accordance with this agreement.
