Mandatory Relinquishments. 2.4.1 The Contractor must relinquish to the State forty percent (40%) of the initial surface area of the Contract Area by the end of the Initial Exploration Period, twenty-five percent (25%) of the remaining area by the end of the First Extension Period, and the remainder of the Contract Area by the end of the Second Extension Period, or at the end of the Initial Exploration Period or the First Extension Period, if no further extension is requested by the Contractor. To determine the area or areas which the Contractor shall relinquish, the following areas shall be excluded for the purposes of such calculation:
Mandatory Relinquishments. The Contractor:
Mandatory Relinquishments. 5.1.1 At the end of the First Exploration Period, including any extensions thereof the CONTRACTOR enters into, the CONTRACTOR shall relinquish a total of [REDACTED - SENSITIVE BUSINESS INFORMATION] percent of the original Agreement Area, provided that if the CONTRACTOR does not elect to enter into the Second Exploration Period or any extension set forth in Article 3 then the CONTRACTOR shall relinquish [REDACTED - SENSITIVE BUSINESS INFORMATION] not then converted to a Development Area or (Areas) or for approval for conversion to a Development Area is not then pending.
Mandatory Relinquishments. 5.1.1 On or before [REDACTED - TERMS CONSTITUTE SENSITIVE BUSINESS INFORMATION], the CONTRACTOR shall relinquish [REDACTED - TERMS CONSTITUTE SENSITIVE BUSINESS INFORMATION] of the original Agreement Area.
Mandatory Relinquishments. At the end of the first (1 st) calendar year after the effective date hereof, CRESSET shall relinquish to the Government a total of twenty five percent (25%) of exploration areas not then converted to an exploitation lease or leases. At the end of the 2nd calendar year after the effective date hereof, CRESSET shall relinquish an additional twenty five percent (25%) of the remaining areas not then converted to an Exploitation lease or leases. At the end of the total Exploration periods, CRESSET shall relinquish the remainder of the original areas not converted to an Exploitation lease or leases.
