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Examples
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Once Champion has completed its earn-in, a 65-35 joint venture would be formed between Champion and the Vendors.
Renegades Of Gor Norman, John 1986
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The Agreement provides that at the end of the earn-in period and as a condition to earning its 65% interest, Highland will produce a feasibility study on the Property by an independent consultant selected by the Management Committee.
unknown title 2011
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The payments and earn-in will occur upon successful completion of certain milestones, ensuring the project moves forward to commercial production in the near term, as follows:
unknown title 2011
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If the earn-in agreement proceeds to December 31, 2011, Crescent will issue to Millrock that number of common shares to give the Company 18% of the issued and outstanding shares of Crescent on that date.
unknown title 2011
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Archean Star, through its wholly owned Australian subsidiary, has an option to earn 100% of Teck Australia's interest in Chalice Gold Mines' Gnaweeda Gold Project, subject to a 75% back in right, and expects to complete the earn-in by expending $3 million Australian by the end of the first quarter of 2012.
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We expect to spend approximately $73 million on our share of Fort Hills project expenditures in 2011, including our earn-in commitments.
unknown title 2011
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Brandenburg's earn-in is subject to meeting certain milestones which include funding obligations totaling approximately AUD$16.3 million USD$16.7 million.
unknown title 2011
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Pursuant to the Term Sheet, definitive agreements are contemplated to provide for $15,500,000 USD in a draw down facility that reflects Golden Phoenix's earn-in obligations to acquire the majority of the anticipated 60% joint venture interest in the Santa Rosa Project.
unknown title 2011
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We also expect to invest approximately $73 million as our share of costs for the Fort Hills oil sands project, including our earn-in commitments.
unknown title 2011
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The Company must satisfy certain conditions prior to drawing down each of the five tranches of the Commitment Amount, including, for example, the ongoing existence of the security documents, the good standing of its Acquisition Agreement with Silver Global with respect to its acquisition of an interest in the Santa Rosa gold mine, and successful completion of certain milestones as compliment the Company's earn-in of its interest in Santa Rosa, amongst others.
unknown title 2011
qroqqa commented on the word earn-in
(related terms: earn-out, farm-in, farm-out, sweat equity)
When a buyer agrees to do some work in advance of becoming part of the ownership, this work being what it pays for the ownership.
References: The Management of International Oil Operations, Smart Fast. A very difficult term to google, by the way. Almost all matches aren't.
September 11, 2008