Lapse or acceleration of Option. In addition to the provisions of termination set out in Section 5 herein, the Optionee may let the working right and Option lapse by failing to incur Expenditures or perform any of the obligations set out in Section 3.4, provided only that the Optionee’s obligations under Section 5.3 are satisfied. Further, the Optionee may accelerate any or all of the Expenditures.
Appears in 6 contracts
Samples: Mining Option Agreement (Swingplane Ventures, Inc.), Mining Option Agreement (Swingplane Ventures, Inc.), Mining Option Agreement (Pana-Minerales S.A.)
