AREA OF COMMON INTEREST Sample Clauses

AREA OF COMMON INTEREST. 24.1 The area of common interest will be deemed to comprise that area which is included within the map attached to this Agreement as Appendix III. 24.2 If at any time during the subsistence of this Agreement any Party or the Affiliate of any Party (in this section only called in each case the "Acquiring Party") stakes or otherwise acquires, directly or indirectly, any right to or interest in any mining claim, licence, lease, grant, concession, permit, patent, or other mineral property located wholly or partly within the area of interest referred to in sub-paragraph 24.1, the Acquiring Party will forthwith give notice to the other Parties of that staking or acquisition, the total cost thereof and all details in the possession of that Party with respect to the details of the acquisition, the nature of the property and the known mineralization. 24.3 The Management Committee (the representative of the Acquiring Party not being entitled to vote with respect thereto) may, within 30 days of receipt of the Acquiring Party's notice, elect, by notice to the Acquiring Party, to require that the mineral properties and the right or interest acquired be included in and thereafter form part of the Property for all purposes of this Agreement. 24.4 If the election aforesaid is made, all the other Parties will reimburse the Acquiring Party for that portion of the cost of acquisition which is equivalent to their respective Interests. 24.5 If the Management Committee does not make the election aforesaid within that period of 30 days, the right or interest acquired will not form part of the Property and the Acquiring Party will be solely entitled thereto. 24.6 Notwithstanding sub-paragraph 11.4(g), the Operator will be entitled, at any time and from time to time to surrender all or any part of the Property or to permit the same to lapse, but only upon first either obtaining the unanimous consent of the Management Committee, or giving 60 days notice of its intention to do so to the other Parties. In this latter event, the Parties, other than the Operator, will be entitled to receive from the Operator, on request prior to the date of the surrender or lapse, pro rata in accordance with their respective Interests, a conveyance of that portion of the Property intended for surrender or lapse, together with copies of any plans, assay maps, all drill records and factual engineering data in the Operator's possession and relevant thereto. Any part of the Property so acquired will cease ...

AREA OF COMMON INTEREST. A volume of airspace as agreed between two ATS units, extending into the adjacent/subjacent Areas of Responsibility, within which airspace structure and related activities may have an impact on air traffic coordination procedures.

AREA OF COMMON INTEREST. Airspace Sectorization and Classification within the Area of Common Interest.

AREA OF COMMON INTEREST. ‌ 7.1 If at any time during the term of this Agreement, Optionor or an Affiliate of Optionor acquires, directly or indirectly, any interest in any property which is all or partly within two kilometres of the outermost boundary of the Property (the "AOI Property"), then Optionor or its Affiliate, as applicable, must disclose the acquisition (including all costs and information it has relating to the AOI Property) promptly to Optionee, and Optionee may, by notice to Optionor or its Affiliate, as applicable, within thirty days of receipt of notice of the acquisition, elect to include the AOI Property within the Property. 7.2 If Optionee elects to include the AOI Property as part of the Property in accordance with this ARTICLE 7, then the acquisition costs of the AOI Property will, upon verification by Optionee, be reimbursed to Optionor, and such AOI Property will be included as part of the Property without the payment of any additional consideration by the Optionee.

AREA OF COMMON INTEREST. 17.1 There shall exist an area of common interest within the area included within five (5) miles of the boundaries of the Property (as detailed in the specific description of the mineral Leases attached hereto as Schedule “A”), but excluding any third party mineral claims in good standing as of the date of this Agreement. If either Party (or permitted assignee) beneficially acquires any interest in mineral claims within such area they shall, at the election of the other party (made by it within 10 days of written notice), be made part of the Property for all purposes and may be referred to as Additional Property. That is, if acquired by the Optionee, such additional claims shall be transferred to the Optionor on termination hereof without additional cost and if acquired by the Optionor shall be optioned to the Optionee as if part of the Property (and without additional consideration being demanded from the Optionee, save and except reimbursement of the stating costs).

AREA OF COMMON INTEREST. During the term of the Agreement, the Parties agree to the establishment of an area of common interest, which covers all land within 10 km from the central point of the Property located at Latitude / Longitude coordinates 47°25' 15" N and 75°16'45" W. During the term of the Agreement, the Parties agree not to acquire, directly or indirectly, mining permits in the said area of common interest without giving a right of first refusal to such eventual acquisition to the other Party.

AREA OF COMMON INTEREST. The Parties agree to the establishment of an area of common interest which covers all land within 2 km of the boundary the Property. The Parties agree not to acquire, directly or indirectly, mining permits in area of common interest without giving a right of first refusal to such eventual acquisition to the other Party.

AREA OF COMMON INTEREST. 15.1 There shall exist an area of common interest within the area included within two (2) kilometres of the boundaries of the Property (as detailed in the specific description of the mineral concessions attached hereto as Schedule “A”), but excluding any third party mineral claims existing as of the Effective Date. If either party (or permitted assignee hereof) acquires any mineral rights within such area by staking or by the granting of such additional prospecting permits, they shall, at the election of the other party (made by it within twenty (20) days of written notice), be made part of the Property for all purposes and may be referred to as Additional Property.

AREA OF COMMON INTEREST. An area of common interest (in this Article 11, the "Area of Common Interest") shall be deemed to comprise that area which is included within three (3) kilometers of the outermost boundary of the Property as at the Effective Date. Nothing in this Agreement shall cause the Area of Common Interest to be expanded.

AREA OF COMMON INTEREST. 17.1 There shall exist an area of common interest within the area included within three (3) kilometres of the boundaries of the Property (as detailed in the specific description of the mineral claims attached hereto as Schedule “A”), but excluding any third party mineral claims existing as of December 17, 2004. If either Party (or permitted assignee hereof) beneficially acquires any interest in mineral claims within such area they shall, at the election of the other party (made by it within 20 days of written notice), be made part of the Property for all purposes and may be referred to as Additional Property. That is, if acquired by the Optionee, such additional claims shall be transferred to the Optionor on termination hereof without additional cost and if acquired by the Optionor shall be optioned to the Optionee as if part of the Property (and without additional consideration being demanded from the Optionee).