Common use of Abandonment of Claims Clause in Contracts

Abandonment of Claims. The Optionee may at any time, elect to abandon any one or more of the mineral claims comprised in the Property by giving two weeks' written notice to the Optionor of such intention; provided that any claims so abandoned shall have at least two (2) years before any further assessment work is due to keep such Mineral Claim in good standing. Following such notice of abandonment under this Section 4.4, the mineral claims so transferred or abandoned shall thereafter cease to form part of the Property and shall no longer be subject to this Agreement, except with respect to any obligations or liabilities of the parties as have accrued to the date of such transfer or abandonment and subject to performing any reclamation on the abandoned mineral claims or providing a bond to provide for future payment of such reclamation requirements.

Abandonment of Claims. ‌ The Optionee may at any time, elect to abandon any one or more of the mineral claims comprised in comprising the Property by giving two weeks' written notice to the Optionor of such intention; provided that any claims so abandoned shall have at least two one (21) years year before any further assessment work is due to keep such Mineral Claim in good standing. Following such notice of abandonment under this Section 4.44.3, the mineral claims so transferred or abandoned shall thereafter cease to form part of the Property and shall no longer be subject to this Agreement, except with respect to any obligations or liabilities of the parties as have accrued to the date of such transfer or abandonment and subject to performing any reclamation on the abandoned mineral claims or providing a bond to provide for future payment of such reclamation requirements.

Abandonment of Claims. The Optionee may at any time, elect to abandon any one or more of the mineral claims comprised in comprising the Property by giving two weeks' written notice to the Optionor of such intention; provided that any claims so abandoned shall have at least two one (21) years year before any further assessment work is due to keep such Mineral Claim in good standing. Following such notice of abandonment under this Section 4.44.3, the mineral claims so transferred or abandoned shall thereafter cease to form part of the Property and shall no longer be subject to this Agreement, except with respect to any obligations or liabilities of the parties as have accrued to the date of such transfer or abandonment and subject to performing any reclamation on the abandoned mineral claims or providing a bond to provide for future payment of such reclamation requirements.

Abandonment of Claims. The Optionee may at any time, elect to abandon any one or more of the mineral claims comprised in the Property by giving two weeks' written notice to the Optionor Optionors of such intention; provided that any claims so abandoned shall have at least two (2) years before any further assessment work is due to keep such Mineral Claim in good standing. Following such notice of abandonment under this Section 4.4, the mineral claims so transferred or abandoned shall thereafter cease to form part of the Property and shall no longer be subject to this Agreement, except with respect to any obligations or liabilities of the parties as have accrued to the date of such transfer or abandonment and subject to performing any reclamation on the abandoned mineral claims or providing a bond to provide for future payment of such reclamation requirements.