By Optionor Clause Samples
The "By Optionor" clause defines the rights, obligations, or actions that must be taken by the party granting an option in a contract, known as the optionor. Typically, this clause outlines the specific steps the optionor must follow if the optionee (the party receiving the option) exercises their option, such as transferring property, delivering documents, or providing notice. Its core practical function is to clearly allocate responsibilities to the optionor, ensuring that both parties understand what is required for the option to be properly executed and reducing the risk of disputes.
By Optionor. Optionor may use Optionee’s name in connection with Optionor’s publicity related to Optionor’s intellectual property and commercialization achievements.
By Optionor. As an integral part of the consideration for this Agreement, Optionor further covenants:
i. not do any act or thing which would or might in any way adversely affect the rights of Optionee hereunder;
ii. to cooperate with and assist Optionee in obtaining approval of a such plans of operations as may be required for operations to be conducted on the Claims under this Agreement;
iii. to cooperate with and assist Optionee, at Optionee’s cost, in obtaining all required federal, state and local permits as may be required for operations to be conducted on the Claims under this Agreement;
iv. to deliver to Optionee a copy of each technical, engineering or geological report relating to the Claims or any of them; and
v. to provide promptly to Optionee any and all notices and correspondence received by the Optionor from government agencies in respect to the Claims
vi. to cooperate fully with Optionee in obtaining such assurances or other accommodations from third parties to confirm the validity of the title to be conveyed by Optionor to Optionee under this Agreement as Optionee may from time-to-time request. A2Kb Master Earn-In Agreement
By Optionor. Optionor represents and warrants to Optionee, as of the Effective Date and as of the Closing Date, which representations and warranties shall survive the Close of Escrow for a period of one (1) year, as follows:
(i) Due Organization, Authorization, Execution and Delivery. Optionor is a duly organized limited liability company under the laws of the State of Delaware and has the requisite power and authority to enter into and carry out the terms of this Agreement. This Agreement has been duly executed and delivered by Optionor and shall constitute the legal, valid and binding obligations of Optionor, fully enforceable against Optionor in accordance with its terms.
By Optionor. (1) Optionor is a development-stage company.
(2) The execution and performance of this Agreement by Optionor will not result in any violation or be in conflict with any agreement to which it is a party.
(3) The execution and performance of this Agreement has been duly authorized by the board of directors of Optionor.
By Optionor. In the event Optionor defaults in the performance or compliance with any of the obligations, covenants or agreements to be performed or any of the conditions to be complied with by Optionor under the terms and provisions of this Agreement or if any of the representations or warranties of Optionor contained herein are untrue at the close of escrow and not waived by Optionee, Optionee shall, as Optionee's sole and exclusive remedy, be entitled to, (i) initiate an action against Optionor for the specific performance by Optionor of the Initials 8 Initials /s/ PL /s/ PWK ------ ------- terms and provisions of this Agreement, or (ii) terminate this Agreement by giving written notice of such termination to Optionor and Escrow Holder, whereupon Escrow Holder shall promptly refund to Optionee all Deposit monies paid hereunder and Optionor shall promptly reimburse Optionee for the actual, and reasonable, expenses incurred by Optionee in Optionee's exercise of its efforts to satisfy conditions inserted for the benefit of Optionee. /s/ ▇▇▇▇ ▇▇▇▇▇ /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ --------------------------- -------------------------- Optionor Optionee
By Optionor. Except as provided herein Optionor may ----------- not sell, assign, transfer, hypothecate, pledge or otherwise encumber, in any manner, prior to the Expiration Date, this Option Agreement or any of the Option Shares or Distributions. Any attempt to sell, assign, transfer, hypothecate, pledge or otherwise encumber this Option Agreement, any interest therein or any such shares or Distributions and any levy of execution, attachment, or similar process on the Option Shares or such Distributions shall be null and void. Subject to the foregoing, this Option shall be binding on and inure to the benefit of the heirs, executors, and personal representatives of Optionor.
By Optionor. In the event Optionor defaults in the performance or compliance with any of the obligations, covenants or agreements to be performed or any of the conditions to be complied with by Optionor under the terms and provisions of this Agreement or if any of the representations or warranties of Optionor contained herein are untrue at the close of escrow and not waived by Optionee, Optionee shall, as Optionee's sole and exclusive remedy, be entitled to, (i) initiate an action against Optionor for the specific performance by Optionor of the terms and provisions of this Agreement, or (ii) terminate this Agreement by giving written notice of such termination to Optionor and Escrow Holder, whereupon Escrow Holder shall promptly refund to Optionee all Deposit monies paid hereunder and Optionor shall promptly reimburse Optionee for the actual, and reasonable, expenses incurred by Optionee in Optionee's exercise of its efforts to satisfy conditions inserted for the benefit of Optionee. Optionor Optionee