distribution, use, treatment, storage, disposal, handling or transport of pollutants, contaminants, chemicals or industrial, toxic or hazardous substances or wastes.
1.19 “ Environmental Liabilities ” means any and all claims, actions, causes of
action, damages, losses, liabilities, obligations, penalties, judgments, amounts paid in settlement, assessments, costs, disbursements, or expenses including, without
limitation, attorneys’ fees and costs, experts’ fees and costs, and consultants’ fees and costs of any kind or of any nature whatsoever that are asserted against PT Masmindo
or either Party, by any person or entity other than the other Party, alleging liability including, without limitation, liability for studies, testing or investigatory costs,
cleanup costs, response costs, removal costs, remediation costs, containment costs, restoration costs, corrective action costs, closure costs, reclamation costs, natural
resource damages, property damages, business losses, personal injuries, penalties or fines arising out of, based on or resulting from i the presence, release, threatened
release, discharge or emission into the environment of any hazardous materials or substances existing or arising on, beneath or above the Properties andor emanating or
migrating andor threatening to emanate or migrate from the Properties to off-site properties; ii physical disturbance of the environment; or iii the violation or alleged
violation of any Environmental Laws.
1.20 “ Escrow Agreement ” means the escrow agreement to be entered into
among Vista Barbados, Pan Asia and Computershare Trust Company of Canada, or such other agent as is acceptable to the Parties acting reasonably, regarding the
2,000,000 ordinary shares of Pan Asia to be issued to Vista in accordance with Section 3.2i.
1.21 “ Expenditures ” has the meaning ascribed thereto in Section 3.2. 1.22 “ Exploration ” means all activities directed toward ascertaining the
existence, location, quantity, quality or commercial value of deposits of Products.
Universitas Sumatera Utara
1.23 “ Feasibility Study ” has the meaning ascribed thereto in
Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects, as amended from time to time.
1.24 “ Interim Period ” has the meaning ascribed thereto in Section 8.5 . 1.25 “ Joint Venture ” has the meaning ascribed thereto in Recital B to this
Agreement.
1.26 “ Letter Agreement ” has the meaning ascribed thereto in Recital B to this
Agreement.
1.27 “ Mining ” means the mining, extracting, producing, handling, milling or
other processing of Products.
1.28 “ Operations ” means the activities to be carried out by PT Masmindo
under this Agreement.
1.29 “ Option ” has the meaning ascribed thereto in Section 3.1 . 1.30 “ Pan Asia ” means Pan Asia Resources Corp.
1.31 “ Party ” and “ Parties ” mean Vista Barbados and Pan Asia, and any
other person or entity admitted as a substituted or additional Party under this Agreement.
1.32 “ Products ” means all ores, minerals and mineral resources produced
