THIS MINING AGREEMENT (the “Agreement”), made and entered into as of this………….. day of ………………..2021, by and between [ENTER NAME] (hereinafter “INVESTOR“) and [ENTER NAME] (hereinafter “COMPANY“) represented with.
ARTICLE I – GENERAL PROVISIONS
1.01 Business Purpose. The business of the Joint Venture shall be as follows:
The Company deals in mining. The Investor therefore agrees to invest in Company’s business by funding the operations of the Company pursuant to this Agreement.
1.02 Term of the Agreement. This Joint Venture shall commence on the date first above written and shall continue in existence until terminated, liquidated, or dissolved by law or as hereinafter provided.
ARTICLE II – GENERAL DEFINITIONS
The following comprise the general definitions of terms utilized in this Agreement:
2.01 Affiliate. An Affiliate of an entity is a person that, directly or indirectly through one or more intermediaries, controls, is controlled by or is under common control of such entity.
2.02Capital Contribution(s)/Investment(s). The capital contribution to the Joint Venture actually made by the Investor..
2.03Benefits. The amount that the Company will give the Investor following Investor’s capital contribution to the Company’s operations.
ARTICLE III – OBLIGATIONS OF THE PARTIES
3.01 THE COMPANY shall be responsible for all mining operations.
3.02 THE INVESTOR is responsible to fund the operations of the Company under the terms of this Agreement.
ARTICLE IV – INVESTMENT
4.01 The Investor shall make financial contributions to the Company at the start of Company’s operations (“Initial Investment”).
All mine benefit Commencing on the date hereof and ending on the termination of the business of the Joint Venture, all benefit generated by the mines shall be allocated to the rate of 50% each party to the Joint Venture.
4.02 Benefits. The Company will pay the Investor a set amount, monthly up to a percentage of their initial investment. For instance, if the Investor makes an Initial Investment of $20,000, then, the Company would pay the Investor the Initial Investment amount of $20,000 + a set percentage (say 50%) over a period of time (say 12 months). In which case, the Company shall pay the Investor the $20,000 invested + $10,000 earned / 12 months = $2500 per month for 12 months. The Company will start making the payments two months after the beginning of the receipt of the deposit of the Initial Investment.
4.03 Payment in Crypto Currency. The Company shall pay the Investor in Crypto currency, unless the Investor specifies otherwise.
ARTICLE V – MINING EQUIPMENT
5.01 All mining equipment shall remain the sole property of the Company. The said equipment shall remain in the Company’s possession at all times.
ARTICLE VI – EXPENSES
6.01 Each party will be solely responsible for the payment of any and all expenses incidental and consequential to each party’s fulfillment of its obligations herein.
ARTICLE VII – INDEMNIFICATION OF THE PARTIES
7.01 The parties to this Agreement shall each be indemnified by the other against losses, judgments, liabilities, expenses and amounts paid in settlement of any claims sustained by it in connection with the Agreement.
ARTICLE VIII – RELATIONSHIP
8.01 The Investor shall in no way be considered employees of the Company.
8.02 The investor does not have any express or implied power to enter any contracts or commitments or to incur liabilities in the name of, or on behalf of, the Company, or to bind the Company in any respect whatsoever.
ARTICLE IX – MISCELLANEOUS PROVISIONS
In the event that any provision of this Agreement shall be held to be invalid, the same shall not affect in any respect whatsoever the validity of the remainder of this Agreement.
9.02Entirety of Agreement.
This Agreement constitutes the entire understanding and agreement among the parties hereto with respect to the subject matter hereof, and there are no agreements, understandings, restrictions or warranties among the parties other than those set forth herein provided for.
The headings, titles and subtitles used in this Agreement are for ease of reference only and shall not control or affect the meaning or construction of any provision hereof.
All communication shall be done through: Written official letters and email.
9.05Applicable Law and Venue.
This Agreement shall be construed and enforced under the laws of [ENTER STATE/COUNTRY/TERRITORY].
All disputes arising out of or in connection with this Agreement shall be settled in any court of competent jurisdiction in [ENTER STATE/COUNTRY/TERRITORY].
The parties hereto covenant and agree that they will execute each such other and further instruments and documents as are or may become reasonably necessary or convenient to effectuate and carry out the purposes of this Agreement.
Events of termination
This Agreement shall terminate:
when Investor stops making Investments to the Company;
when the Company ceases mining operations;
upon the occurrence of a force majeure event following Section 9.08 below.
Termination of this Agreement shall not affect any rights or liabilities that the parties have accrued under it.
9.08 Force Majeure
If either party to this Agreement is rendered unable, wholly or in part, by reason of a Force Majeure Event to perform obligations under this Agreement, then such obligations SHALL be suspended to the extent affected by the Force Majeure Event.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. Signed, sealed and delivered in the presence of:
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