COVENANTS OF THE OPTIONOR. During the currency of this Agreement, the Optionor covenants and agrees with the Optionee to:
(a) not do or permit or suffer to be done any act or thing which would or might in any way adversely affect the rights of the Optionee hereunder;
(b) make available to the Optionee and its representatives all records and files relating to the Property in its possession and permit the Optionee and its representatives to take abstracts therefrom and make copies thereof;
(c) promptly provide the Optionee with any and all notices and correspondence from government agencies in respect of the Property; and
(d) promptly make all necessary filings on the Property either as determined by the Optionor or as directed by the Optionee.
COVENANTS OF THE OPTIONOR. During the currency of this Agreement, the Optionor covenants and agrees with the Optionee to:
(a) not do or permit or suffer to be done any act or thing which would or might in any way adversely affect the rights of the Optionee hereunder;
(b) make available to the Optionee and its representatives all records and files relating to the Property in its possession and permit the Optionee and its representatives to take abstracts therefrom and make copies thereof;
(c) co-operate with the Optionee in obtaining any water appropriation licence, and any surface and other rights on or related to the Property, the Optionee deems desirable;
(d) promptly provide the Optionee with any and all notices and correspondence from government agencies in respect of the Property; and
(e) promptly make all necessary filings on the Property either as determined by the Optionor or as directed by the Optionee.
COVENANTS OF THE OPTIONOR. The Optionor hereby covenants in favour of the Optionee that:
(a) it will cause all necessary steps and proceedings to be taken to permit the Common Shares to be duly and regularly issued and transferred to the Optionee on the Closing Date in exchange for Class "A" Preference Shares of Alfa Canada.
COVENANTS OF THE OPTIONOR. During the currency of this Agreement, the Optionor covenants and agrees with the Optionee to:
(a) not do or permit or suffer to be done any act or thing which would or might in any way adversely affect the rights of the Optionee hereunder;
(b) make available to the Optionee and its representatives all records and files relating to the Property in its possession and permit the Optionee and its representatives to take abstracts therefrom and make copies thereof;
(c) co-operate with the Optionee in obtaining any water appropriation licence, and any surface and other rights on or related to the Property, the Optionee deems desirable; and
(d) promptly provide the Optionee with any and all notices and correspondence from government agencies, including but not limited to the Ministry of Northern Development and Mines, in respect of the Property.
COVENANTS OF THE OPTIONOR. 8.1 The Optionor hereby covenants with and to the Optionee that:
(a) it will, within 10 days of the execution and delivery of this Option Agreement, provide the Optionee with all of the reports, maps, surveys, data and other information in its possession or under its control relating to the mineral potential of the Properties; and
(b) during the existence of this Option Agreement not deal, or attempt to deal with its right, title and interest in and to the Properties in any way that would or might affect the right of the Optionee to become vested of its interest in and to the Properties, free and clear of any liens, charges and encumbrances except the interests of the Optionor;
(c) upon receipt by the Optionor of all of the payments and shares referred to in paragraph 1.02 above, the Optionor will convey title to the Properties to the Optionee free and clear of all encumbrances except for the Net Returns royalty.
COVENANTS OF THE OPTIONOR. The Optionor covenants with and represents and warrants to Crosshair that:
(a) the Optionor has the authority to enter into this Agreement and is the registered holder of a 100% undivided interest in the mineral licences comprising the Properties as set out in Schedule “A”;
(b) each of the mineral licenses comprising the Property has been duly and validly located and recorded in accordance with the applicable laws of Newfoundland and are valid and subsisting mineral claims as of the date of execution and delivery of this Agreement;
(c) the Property is in good standing, free and clear of all liens, charges and encumbrances;
(d) the entering into of this Agreement does not violate any of the terms or conditions of any existing agreement to which the Optionor is a party;
(e) the Optionor is not a party to any agreement with any third party relating to the Property;
(f) the Optionor has not transferred or encumbered or agreed to transfer or encumber the Property or all or any of its right, title or interest in or to the Property, except as provided for in this Agreement;
(g) the Optionor has the exclusive right and authority to enter into this Agreement and to dispose of the Property in accordance with the terms hereof, and that no other person, firm or corporation has any proprietary or other interest in the same;
(h) to the best of the Optionor knowledge, information and belief, any and all previous work conducted on the Property was conducted in compliance with all applicable laws;
(i) the Optionor authorizes Crosshair to copy any and all notices and correspondence from government agencies in regard to the Property, or work conducted on the Property;
(j) the Optionor authorizes Crosshair to copy all technical data and geological information relating to the Property and housed at the Department of Mines and Energy; and
(k) the Optionor is not required to provide copies of personal correspondences related to the Property. The representations and warranties of the Optionor hereinbefore set out form a part of this Agreement and are conditions upon which Crosshair has relied in entering into this Agreement and shall survive the acquisition of the Property by Crosshair.
COVENANTS OF THE OPTIONOR. 8.01 The Optionor hereby covenants with and to the Optionee that:
(a) it has provided the Optionee with all of the data and information in its possession or under its control relating to the Optionor’s exploration activities on and in the vicinity of the Property;
(b) it will provide all reasonable assistance to file, at the Optionee’s cost, all reports and other documents required to be filed by the Optionor, as recorded owner of each License, with the GGMC in order to maintain each License in good standing under the laws of Guyana
(c) until such time as the Option is exercised or otherwise terminates, it will not deal, or attempt to deal with its right, title and interest in and to the Property in any way that would or might affect the right of the Optionee to become absolutely vested in a 100% interest in and to the Property, free and clear of any liens, charges and encumbrances.
COVENANTS OF THE OPTIONOR. 6 10.0 TERMINATION............................................................7 11.0
COVENANTS OF THE OPTIONOR. 6.1 While the Option remains outstanding, the Optionor covenants and agrees with MAX to:
(a) for so long as MAX is not in default hereunder, not do any act or thing which would in any way adversely affect the rights of MAX hereunder;
(b) make available to MAX and its representatives all records, maps, reports, drill core and files in its possession relating to the Property and permit MAX and its representatives at their own risk and expense to take abstracts there from and make copies thereof;
(c) co-operate as reasonably necessary with MAX in obtaining any access, surface and other rights on or related to the Property as MAX reasonably deems desirable; and
(d) promptly provide MAX with any and all notices and correspondence received by the Optionor from any relevant government agencies in respect of the Property.
COVENANTS OF THE OPTIONOR. 9.01 The Optionor hereby covenants with and to the Optionee that until such time as the Option is exercised or otherwise terminates, it will not deal, or attempt to deal with its right, title and interest in and to the Property in any way that would or might affect the right of the Optionee to become absolutely vested in a 100% interest in and to the Property, free and clear of any liens, charges and encumbrances.
