Exercise of Option and Closing provided to the Optionee/Purchaser shall be exercised and the closing of this transaction shall occur either by the fact of concluding the purchase and taking possession within any Option period or by notice in writing to the Optionor/Seller within any Option period and with the fact of concluding the purchase and taking possession within ninety (90) days of such notice, at the time and place in Champaign County designated by Optionee/Purchaser.
Exercise of Option and Closing. In the event that TRC desires to exercise the Option as to one or more of the Initial Claim Groups, it shall deliver written notice of exercise to Owner, which notice shall specify the Initial Claim Group or Groups as to which the Option is being exercised at that time. Following Owner’s receipt of TRC’s notice, the closing of the purchase and sale (a “Closing”) of the one percent (1.0%) Royalty interest in the Initial Claim Group or Groups identified in TRC’s notice shall be held at 10:00 a.m. on the date that is ten (10) days following Owner’s receipt of the notice of exercise, at a location in Reno, Nevada, specified by TRC in its notice, unless the Parties otherwise mutually agree. At the Closing, the following shall occur: (i) TRC shall deliver to Owner a cashiers’ check or certified funds in the amount of the Option Price for each Initial Claim Group identified in TRC’s notice of exercise; and (ii) Owner shall deliver to TRC a duly executed and acknowledged assignment, in the form attached to this Agreement as Exhibit B, of a total one percent (1%) Net Smelter Return Royalty interest in the Initial Claim Group or Groups identified in TRC’s notice of exercise.
Exercise of Option and Closing. 2.1 Exercise Schedule
Exercise of Option and Closing. The Optionee, in accordance --------------------------------------------- with the terms and conditions of this Agreement, shall give not less than thirty (30) days prior written notice to the Optionors of Optionee's intention to exercise such Option. The closing of the purchase under such Option shall be held as promptly as possible after such notice has been received, but not later than sixty (60) days following such notice, except as otherwise agreed by the Optionee and Optionors. At closing, the Optionors shall deliver to Optionee certificates representing Optionors' Shares of the Company, duly endorsed or accompanied by duly executed stock powers or assignments. Optionors shall also execute and deliver a closing certificate, in form and substance satisfactory to the Optionee, warranting and representing to such individuals or entities that: (i) the Optionors have the full right, power and authority to transfer the shares, and that such shares are being transferred free and clear of all liens, claims and encumbrances; (ii) the shares constitute 100% of the Company stock; and (iii) no other person has any warrants, options, or rights with respect to such Stock; and, Optionee shall deliver the Consideration to the Optionors.
Exercise of Option and Closing. The Optionee’s commitment to exercise the Option shall be delivered no later than March 31, 2020. The Option shall be exercised by mailing, certified mail, or hand delivering written notice of Optionee's intent to exercise this Option to Optionor’s address listed above, said mailing to occur on or before said date. The Optionee may assign its right to purchase all or a portion of the LAND upon giving written notice of such assignment to Optionor, provided it arranges for simultaneous closing on the LAND and all terms of this Option remain the same. The closing shall occur on or before April 30, 2020. It is the CITY’S intent to close earlier if possible. The CITY’S obligations are contingent on City Council approval, funding, title, survey, and any final site assessment. The property shall be used as a conservation greenway with trails and habitat improvements consistent with open space purposes. No other deed restrictions shall be imposed on the property.
Exercise of Option and Closing
