OPTION PERIOD RIGHTS AND OBLIGATIONS. 4.1 Optionee's Right of Entry...............................................14 4.2 Optionee's Obligations..................................................15 4.3 Emergency Expenditures..................................................16
OPTION PERIOD RIGHTS AND OBLIGATIONS. (a) During the term of this Agreement: Silver Reserve shall have the exclusive right to conduct exploration and development work on the Property with the right to remove mineral samples therefrom, including bulk mineral samples, for the purpose of assays and tests. Silver Reserve shall have the right to erect, bring and install all such buildings, machinery, equipment and supplies on the Property as it shall deem necessary and proper; and all work done by Silver Reserve on the Property shall be done in accordance with good mining practice and in compliance with the applicable laws and regulations including environmental laws and regulations applicable to the Property.
OPTION PERIOD RIGHTS AND OBLIGATIONS. (a) During the Option Period: (xlix) Yukon Gold shall perform and file assessment work necessary to maintain, and otherwise keep the Property in good standing, provided however, that Yukon Gold shall file all drilling and other qualified expenditures for assessment work credit even if not necessary to keep the Property in good standing; (l) Yukon Gold shall be entitled to all income and other tax deductions, allowances and credits, and to all incentive grants or other benefits available pursuant to exploration incentive programs or similar programs, insofar as such work, deductions, allowances, credits, grants and benefits relate to the Property; (li) Yukon Gold shall have the exclusive right to conduct exploration and development work on the Property with the right to remove mineral samples therefrom, including bulk mineral samples, for the purpose of assays and tests provided that any excess revenue from the disposition of such samples shall be shared by Hinton as to 25% and Yukon Gold as xx 00%; (lii)Yukon Gold shall have the right to erect, bring and install all such buildings, machinery, equipment and supplies on the Property as Yukon Gold shall deem necessary and proper; and (liii) all work done by Yukon Gold on the Property shall be done in accordance with good mining practice and in compliance with the applicable laws of the Yukon Territory.
OPTION PERIOD RIGHTS AND OBLIGATIONS. 5.01 The Option Earner’s Right of Entry 5.02 The Option Earner’s Obligations 5.03 The Option Grantor’s Obligations 5.04 Registered Title
OPTION PERIOD RIGHTS AND OBLIGATIONS. 4.1 Optionee's Right of Entry 12
OPTION PERIOD RIGHTS AND OBLIGATIONS. (a) During the Option Period:
OPTION PERIOD RIGHTS AND OBLIGATIONS. During the Option Period, as such may be extended by Omeros pursuant to Section 2.2 and Section 2.3, Omeros, Patobios and the Founders shall have the rights and shall strictly comply with their respective obligations set forth in this Article III. None of Omeros, Patobios or the Founders shall have any of the rights or obligations set forth in this Article III following the expiration of the Option Period or the termination of this Agreement in accordance with Section 9.1; provided, however, (a) that if an Exercise Notice or a Put Notice is provided within the Option Period, then the Option Period shall automatically extend until the earlier of the Closing Date and the termination of this Agreement in accordance with Section 9.1, (b) Omeros, on the one hand, and Patobios and the Founders, on the other hand, shall be liable to each other for up to a maximum amount equal to the aggregate gross proceeds paid by Omeros under this Agreement (including, without limitation, for any payments made by Omeros pursuant to Section 3.6) for any breach of any covenant to be performed by any such party pursuant to this Article III that occurred during the Option Period, except in the case of fraud or willful breach of any such covenant by such party in which case such liability shall not be so limited (provided, that for purposes of this subsection (b), if Omeros purchases the MOCA Technology pursuant to this Agreement, then the liability of Omeros, Patobios and the Founders shall instead be subject to limitations in Article VIII), and (c) nothing herein shall limit the liability of a party for its fraud or willful breach of any covenant to be performed by such party pursuant to this Article III that occurred during the Option Period. † DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION
OPTION PERIOD RIGHTS AND OBLIGATIONS. 5.1 Operator 14 5.2 Optionee's Right of Entry 14 5.3 Optionee’s Obligations 14 5.4 Optionors’ Obligations 15 5.5 Registered Title 16 5.6 Abandonment of Property 16 5.7 Area of Interest 16
OPTION PERIOD RIGHTS AND OBLIGATIONS
