Laserfiche WebLink
APR. 4. 200b 11: W'M <br />F-4. <br /> <br />4.3 Nothing contained in this Agreement shall be deemed to constitute any of the Parties the <br />partner of the ', m, =;ept as otherwise hercm expressly provided, to constituto any • <br />Party the agent or legal repraentative of any other Party, nor to create any fiduciary <br />relationship among the Parties. Except as otherwise expressly stated herein, the. rights, <br />duties, obligations and liabilities of the Parties shall be several and not joint or collective. <br />5. GiLOBAVS R4TFMM <br />5.1 In consideration of Global agreeing to pay all Costs to be incurred during the currency of <br />this Agreement, Global shall have a 50% Participating Interest in the TV, subject to <br />Sections 5.2 and 63. <br />5.2 In order to maintain its 50% Participating Interest in the JV, Global shall: <br />(a) issue 1,500,000 common shares in its capital stock to the Property Owners within <br />five business days following the acceptance of this Agreement by the TSX <br />Venture Exchange; <br />(b) make the following cash payments to the Property Owners: <br />(i) on or before June 1, 2003 - $30,000; <br />(ii) on or before June 1, 2004 - $30,000; <br />(iii) on or before June 1, 2005 - $30,000; <br />(iv) on or before June 1, 2006 - $30,000; <br />(v) on or before June 1, 2007 - $30,000; <br />(vi) on or before Juno 1, 2009 - $60,000; <br />(vii) on or before June 1, 2009 - $60,000; <br />(viii) on or before June 1. 2010 - $60,000; <br />(ix) on or before June 1, 2011 - $60,000; <br />(x) on or before June 1, 2012 - $60,000; <br />(xi) on or before June 1, 2013 - $90,000; <br />(xii) on or before June 1, 2014 - $90,000; <br />(xiii) on or before June 1, 2015 - $90,000; <br />(xiv) on or before June 1, 2016 - $90,000; <br />(xv) on or bofore June 1, 2017 - S90,000; and <br />N'\D)N?OlestM%704U'mpectyl(lold HRAMml3.doe <br />• <br />0