INITIAL EARN-IN OPTION Sample Clauses
INITIAL EARN-IN OPTION. The Optionee may acquire an initial 80% undivided interest in the Property (the "Initial Earn-In Option") through the payment of an aggregate of US$100,000 in cash (the "Cash Consideration") and arranging for the issuance of a total of 300,000 common shares in the capital of the Optionee Parent, or such equivalent number of common shares of the Resulting Issuer in the event a Going Public Transaction is completed during the Earn-In Period (the "Consideration Shares") as follows: (i) within thirty Days following the Effective Date, the Optionee shall arrange for the issuance of 100,000 Consideration Shares; (ii) within thirty Business Days following the Effective Date, the Optionee shall pay to Optionor the amount of US$100,000; (ii) on or before the first anniversary of the Effective Date, Optionee shall arrange for the issuance to Optionor of 100,000 Consideration Shares; (iii) on or before the second anniversary of the Effective Date, Optionee shall arrange for issuance to Optionor of 100,000 Consideration Shares; and (iv) payment by Optionee of all amounts required to keep the Claims in good standing.
INITIAL EARN-IN OPTION. The Optionee may acquire an initial 10% undivided interest in the Property (the "Initial Earn-In Option") through the payment of Seventy Five Thousand Dollars ($75,000) (the "Initial Consideration"). The timing of the payments will be Thirty Thousand Dollars ($30,000) within 14 days after the signing of this Agreement and Forty-Five Thousand Dollars ($45,000) within 45 days after the signing of this Agreement. Upon the completion of the payment of the Initial Consideration to AMLM, Altair will own a 10% undivided interest in the Properties (the "Initial Ownership")
(i) within 14 calendar days after the signing of this Agreement, Optionee shall pay to Optionor the amount of Thirty Thousand Dollars ($30,000);
(ii) within 45 calendar days after the signing of this Agreement, Optionee shall pay to Optionor the amount of Forty Five Thousand Dollars ($45,000)
INITIAL EARN-IN OPTION. The Optionee has acquired an initial 10% undivided interest in the Property (the "Initial Earn-In Option") through the payment of Seventy-Five Thousand Dollars ($75,000) (the "Initial Consideration"). Altair will own a 10% undivided interest in the Properties (the "Initial Ownership")