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FARRIER RESOURCES CORP | COUNTY LINE ENERGY CORP., | NUANCE EXPLORATION LTD. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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DILUTION AGREEMENT
THIS AGREEMENT made this 22nd day of December, A.D., 2006.
BETWEEN:
COUNTY LINE ENERGY CORP., a body corporate, having an office in the City of Calgary in the Province of Alberta, (hereinafter called "the Grantor")
PARTY OF THE FIRST PART
- and -
NUANCE EXPLORATION LTD., a body corporate, having an office in the City of Vancouver in the Province of British Columbia, (hereinafter called "the Participant")
PARTY OF THE SECOND PART
WHEREAS, pursuant to an Agreement (hereinafter referred to as "the Participation Agreement") dated the 21st day of December, A.D., 2006, and made between the Participant and the Grantor, it is provided that the Participant by performing certain obligations in the Participation Agreement contained, will become entitled to earn an interest in certain lands therein contained, all as more particularly described in the Participation Agreement (a copy of the Participation Agreement is attached hereto as Schedule "A"); and,
WHEREAS each of the Grantor and the Participant in the Participation Agreement desires to by assuming a share of the obligations therein contained and earning a share of the interest to be earned thereunder in relation to the amount of monies in Costs that each Party to this Agreement advances under the obligations.
NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the premises and of the covenants and agreements of the Parties as hereinafter set forth, the Parties do hereby covenant and agree as follows:
1. INTERPRETATION
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(a) |
The headings of the clauses of this Agreement are inserted for convenience of reference only and shall not affect the meaning or construction thereof |
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(b) |
The terms and expressions used herein shall have the same meanings as are ascribed to such terms and expressions under the Farrnout Agreement. |
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(c) |
Wherever the plural or masculinie or neuter is used the same shall be construed as meaning singular, or feminine, or body politic or corporate, or vice versa as the context so requires. |
2. DILUTION
2.1 The respective Interests of the Parties shall be subject to variation from time to
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time in the event of failure by a Party to pay its proportionate share of Costs;
