What is mining of lease agreement?

mining lease means a lease, license or other use agreement which provides the Company or any Restricted Subsidiary the real property and water rights, other interests in land, including coal, mining and surface rights, easements, rights of way and options, and rights to timber and natural gas (including coalbed methane …

Is the owner of the asset in a lease agreement?

In a lease agreement, the owner of the assets is ‘lessor’ and the party that uses the asset is known as ‘lessee’. The lessee pays a fixed periodic amount known as the lease rent to the lessor for the use of the assets.

Who gives mining lease?

the State Government
When a mining lease is granted by the State Government, arrangements shall be made by the State Government at the expense of the lessee for the survey and demarcation of the area granted under the lease . 34. Manner of exercise of preferential rights for mining lease.

What is minimum rent in royalty?

It is the minimum sum that is given to the lessor of a property by the lessee so that the lessor receives a minimum amount of sum for a specific period. And the situation where he gets a benefit from or not is called the minimum rent.

Can a lease be signed by only one tenant?

A lease agreement that is signed by only one tenant, or does not identify the names of each tenant in the lease (e.g. “John Doe, et.al”) in the are examples of potentially fatal flaws in a rental lease. It’s a good idea for the lease to track in number throughout — ‘tenants’, not ‘tenant’, for instance.

What does joint and several mean in a lease?

Some leases include an explanation: Joint and several liability means that, while all Tenants are jointly liable for rent and all other obligations under the lease, at the same time any one Tenant may be held responsible to the Landlord for the entire amount of unpaid rent or other charges or for damages owed by any Tenant.

When does the owner of a property sign the lease?

The owner/manager receives the signed rental contract and also signs the contract. At this time, when both parties have signed the lease, the contract is considered binding to terms outlined in the agreement. Both parties get a copy of the signed lease agreement.

Who is entitled to a copy of the lease agreement?

Both parties get a copy of the signed lease agreement. Who gets a copy of the lease? Everyone who signed the lease agreement should get a copy of the contract. Tenants should keep their copies in a safe place to reference throughout tenancy as needed. Some property managers or landlord may charge the tenant to get an additional copy of the lease.

Who are the parties to the mining lease agreement?

Exhibit 10.10 This Mining Lease Agreement (“Agreement”) is made and entered into by and between United Mines, Inc., an Idaho corporation, and Sterling Mining Company, an Idaho corporation. RECITALS A.

When to add a co-signer to a lease?

Before adopting a co-signer program, consider the following risks: Tenant behavior. A co-signer can reduce the financial risks of leasing to a questionable tenant, but will not protect a landlord from noise complaints, property damage, aggressive or inappropriate actions.