Grant of Option and Payment for the Acquisition of Mineral Rights Sample Clauses

Grant of Option and Payment for the Acquisition of Mineral Rights. Subject to the other terms and conditions contained herein, PROMISOR hereby grants to PROMISEE the sole and exclusive right and option (the “Option”) to earn an undivided one hundred (100%) percent legal and beneficial right, title and interest in and to the Mineral Rights (and any mineral rights resulting from the Applications) and the Property, free and clear of all Encumbrances. Concurrently with the execution of this Agreement, PROMISOR shall execute and deliver to PROMISEE a transfer of an undivided one hundred (100%) percent legal and beneficial right, title and interest in and to the Mineral Rights and the Property, free and clear of all Encumbrances in accordance with the terms of the Transfer Instrument, attached hereto in Annex B, save and except for the obligation to pay (i) the Royalty to PROMISOR and (ii) the Underlying Owner Royalty to the Underlying Owner, and grants PROMISEE the right and option to remain the owner of the Mineral Rights (and any mineral rights resulting from the Applications) and the Property by satisfying in full by the specified time each of the requirements of subclauses 2.1.1, 2.1.2, 2.1.3 and 2.1.4.
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Related to Grant of Option and Payment for the Acquisition of Mineral Rights

  • Sale, Purchase, Delivery and Payment for the Shares On the basis of the representations, warranties and agreements contained in, and subject to the terms and conditions of, this Agreement:

  • TAKING OF RECORD; STOCK AND WARRANT TRANSFER BOOKS In the case of all dividends or other distributions by the Company to the holders of its Common Stock with respect to which any provision of Section 4 refers to the taking of a record of such holders, the Company will in each such case take such a record and will take such record as of the close of business on a Business Day. The Company will not at any time, except upon dissolution, liquidation or winding up of the Company, close its stock transfer books or Warrant transfer books so as to result in preventing or delaying the exercise or transfer of any Warrant.

  • Persons Having Rights Under Warrant Agreement Nothing in this Agreement shall give to any person other than the Company, the Warrant Agent and the holders of the Warrant Certificates any right, remedy or claim under or by reason of this Agreement.

  • CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER Section 801. Company May Consolidate, Etc.,

  • Persons Having Rights Under the Agreement Nothing in this Agreement shall give to any person other than the Company, the Warrant Agent and the holders of the Warrant Certificates any right, remedy or claim under or by reason of this Agreement.

  • Transfer of Optioned Interests For each exercise of the Equity Interest Purchase Option:

  • Sale and Transfer of Shares Closing Subject to the terms and conditions of this Agreement, at the Closing, the following will occur:

  • Restriction on Transfer of Option Shares Anything in this Agreement to the contrary notwithstanding, the Optionee hereby agrees that it shall not sell, transfer by any means or otherwise dispose of the Option Shares acquired by it without registration under the 1933 Act, or in the event that they are not so registered, unless (i) an exemption from the 1933 Act registration requirements is available thereunder, and (ii) the Optionee has furnished the Company with notice of such proposed transfer and the Company’s legal counsel, in its reasonable opinion, shall deem such proposed transfer to be so exempt.

  • Adjustment of Number of Optioned Shares and Related Matters The number of shares of Common Stock covered by the Stock Option, and the Option Prices thereof, shall be subject to adjustment in accordance with Articles 11 - 13 of the Plan.

  • Payment for the Offered Shares (i) Payment for the Offered Shares shall be made at the First Closing Date (and, if applicable, at each Option Closing Date) by wire transfer of immediately available funds to the order of the Company.

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