Common use of Non-Compete Covenants Clause in Contracts

Non-Compete Covenants. Neither a Member that resigns pursuant to Section 14.2 of the LLC Agreement as Amended, nor any Affiliate of such a Member, shall directly or indirectly acquire any interest or right to explore or mine, or both, on any property any part of which is within the Area of Interest for twelve (12) months after the effective date of resignation. If a resigning Member, or the Affiliate of a resigning Member, breaches this Section, such Member shall be obligated to offer to convey to the non-resigning Member, without cost, any such property or interest so acquired (or ensure its Affiliate offers to convey the property or interest to the non-resigning Member, if the acquiring party is the resigning Member's Affiliate). Such offer shall be made in writing and can be accepted by the non-resigning Member at any time within forty five(45) days after the offer is received by such non-resigning Member. Failure of a Member's Affiliate to comply with this Section shall be a breach by such Member of this Agreement.

Non-Compete Covenants. Neither a Member that resigns pursuant to Section 14.2 of the LLC Agreement as AmendedOperating Agreement, or is deemed to have resigned pursuant to Section 9.4 of the Operating Agreement, or that withdraws or is deemed to have withdrawn pursuant to Section 2.3 of this Agreement, nor any Affiliate of such a Member, shall directly or indirectly acquire any interest or right to explore or mine, or both, on any property any part of which is within the Area of Interest for twelve (12) months after the effective date of resignation. If a resigning Member, or the Affiliate of a resigning Member, breaches this Section, such Member shall be obligated to offer to convey to the non-resigning MemberMembers, without cost, any such property or interest so acquired (or ensure its Affiliate offers to convey the property or interest to the non-resigning MemberMembers, if the acquiring party is the resigning Member's Affiliate). Such offer shall be made in writing and can be accepted by the non-resigning Member Members at any time within forty five(45five (45) days after the offer is received by such non-resigning MemberMembers. Failure of a Member's Affiliate to comply with this Section shall be a breach by such Member of this Agreement.

Non-Compete Covenants. Neither a Member that resigns pursuant to Section 14.2 of the LLC Agreement as AmendedAgreement, or is deemed to have resigned pursuant to Sections 4.2 or 4.3 of the LLC Agreement, or that withdraws or is deemed to have withdrawn pursuant to Section 3.2 of this Agreement, nor any Affiliate of such a Member, shall directly or indirectly acquire any interest or right to explore or mine, or both, on any property any part of which is within the Area of Interest for twelve (12) months after the effective date of resignation. If a resigning Member, or the Affiliate of a resigning Member, breaches this Section, such Member shall be obligated to offer to convey to the non-resigning Member, without cost, any such property or interest so acquired (or ensure its Affiliate offers to convey the property or interest to the non-resigning Member, if the acquiring party is the resigning Member's Affiliate). Such offer shall be made in writing and can be accepted by the non-resigning Member at any time within forty five(45) days after the offer is received by such non-resigning Member. Failure of a Member's Affiliate to comply with this Section shall be a breach by such Member of this Agreement.

Non-Compete Covenants. Neither a Member that resigns pursuant to Section 14.2 of the LLC Agreement as AmendedAgreement, nor any Affiliate of such a Member, shall directly or indirectly acquire any interest or right to explore or mine, or both, on any property any part of which is within the Area of Interest for twelve (12) months after the effective date of resignation. If a resigning Member, or the Affiliate of a resigning Member, breaches this Section, such Member shall be obligated to offer to convey to the non-resigning Member, without cost, any such property or interest so acquired (or ensure its Affiliate offers to convey the property or interest to the non-resigning Member, if the acquiring party is the resigning Member's ’s Affiliate). Such offer shall be made in writing and can be accepted by the non-resigning Member at any time within forty five(45ten (10) days after the offer is received by such non-resigning Member. Failure of a Member's ’s Affiliate to comply with this Section shall be a breach by such Member of this Agreement.

Non-Compete Covenants. Neither a Member that resigns pursuant to Section 14.2 of the LLC Agreement as Amended, nor any Affiliate of such a Member, shall directly or indirectly acquire any interest or right to explore or mine, or both, on any property any part of which is within the Area of Interest for twelve (12) months after the effective date of resignation. If a resigning Member, or the Affiliate of a resigning Member, breaches this Section, such Member shall be obligated to offer to convey to the non-resigning Member, without cost, any such property or interest so acquired (or ensure its Affiliate offers to convey the property or interest to the non-non- resigning Member, if the acquiring party is the resigning Member's Affiliate). Such offer shall be made in writing and can be accepted by the non-non- resigning Member at any time within forty five(45) days after the offer is received by such non-non- resigning Member. Failure of a Member's Affiliate to comply with this Section shall be a breach by such Member of this Agreement.