Common use of Optionee’s Obligations Clause in Contracts

Optionee’s Obligations. The Optionee is obligated during the Option Period: (a) to keep the Property in good standing by the doing and filing of all necessary work and by the doing of all other acts and things and making all other payments which may be necessary in that regard and, in doing so, to conduct all work on or with respect to the Property, in a manner consistent with good mining practice and in compliance with all applicable laws and instruments governing the Property; (b) to keep the Property free and clear of all Encumbrances arising from its operations hereunder (except liens for taxes not yet due, other inchoate liens and liens contested in good faith by the Optionee) and will proceed with all diligence to contest and discharge any such lien that is filed; (c) to permit the directors, officers, employees and designated consultants and agents of the Optionor, at their own risk, access to the Property at all reasonable times, provided that the Optionor will indemnify the Optionee against and save it harmless from all costs, claims, liabilities and expenses that the Optionee may incur or suffer as a result of any injury (including injury causing death) to any director, officer, employee, designated consultant or agent of the Optionor while on the Property except to the extent that any such costs, claims, liabilities or expenses result from the Optionee’s gross negligence or wilful misconduct; (d) if requested by the Optionor, to deliver to the Optionor quarterly reports on or before 30 days following the end of each quarter, or such shorter period of time as reasonably required by the Optionor to address any disclosure requirements as mandated under applicable securities laws, disclosing any significant technical data learned or obtained in connection with work in respect of the Property, as well as a breakdown of Expenditures incurred in carrying out such work; (e) if requested by the Optionor, to deliver to the Optionor reports for annual periods, disclosing any significant technical data learned or obtained in connection with work in respect of the Property, as well as a breakdown of Expenditures incurred in carrying out such work, on or before 60 days following the Optionee’s financial year end; and (f) to maintain true and correct books, accounts and records of Expenditures.

Optionee’s Obligations. The Optionee is obligated during the Option Period: (a) to keep the Property Properties in good standing by the doing and filing of all necessary work and by the doing of all other acts and things and making all other payments which may be necessary in that regard and, in doing so, including compliance with the terms of any lease; (b) to conduct all work on or with respect to the PropertyProperties, in a manner consistent with good mining practice and in compliance with all the applicable laws and instruments governing the Property;of Northern Ireland. (bc) to keep the Property Properties free and clear of all Encumbrances arising from its operations hereunder (except liens for taxes not yet due, other inchoate liens and liens contested in good faith by the Optionee) and will proceed with all diligence to contest and discharge any such lien that is filed; (cd) to permit the directors, officers, employees and designated consultants and agents of the Optionor, at their own risk, access to the Property Properties at all reasonable times, provided that the Optionor will indemnify the Optionee against and save it harmless from all costs, claims, liabilities and expenses that the Optionee may incur or suffer as a result of any injury (including injury causing death) to any director, officer, employee, designated consultant or agent of the Optionor while on the Property Lands except to the extent that any such costs, claims, liabilities or expenses result from the Optionee’s 's gross negligence or wilful misconduct; (de) if requested indemnify and hold the Optionor harmless from any and all liabilities, costs, damages or charges arising from the failure of the Optionee to comply with the covenants contained in this article or otherwise arising from its operations on the Property; (f) allow the Optionor access at all reasonable times and intervals to all maps, reports, assay results and other factual technical data (whether in paper or electronic form) prepared or obtained by the Optionor, Optionee in connection with its operations on the Property; (g) to deliver to the Optionor quarterly semi-annual reports indicating the status of work being conducted on or before 30 days following the end Properties and an estimate of each quarterthe Expenditures incurred during the previous six months, or provided that such shorter period of time as reasonably reports will not be required by for those periods in which there is no work being conducted on the Properties; (h) to deliver to the Optionor to address any disclosure requirements as mandated under applicable securities laws, annual (calendar year) reports disclosing any significant technical data learned or obtained in connection with work in respect of the Property, as well as a breakdown of Expenditures incurred in carrying out such work; (e) if requested by the Optionor, to deliver to the Optionor reports for annual periods, disclosing any significant technical data learned or obtained in connection with work in respect of the PropertyProperties, as well as a breakdown of Expenditures incurred in carrying out such work, on or before 60 days the 31st day of March of the year following the Optionee’s financial calendar year endto which such report relates; and (fi) to maintain true and correct books, accounts and records of Expenditures.

Optionee’s Obligations. The Optionee is obligated during the Option Period: (a) to keep the Property Properties in good standing by the doing and filing of all necessary work and by the doing of all other acts and things and making all other payments which may be necessary in that regard and, in doing so, including compliance with the terms of any lease; (b) to conduct all work on or with respect to the PropertyProperties, in a manner consistent with good mining practice and in compliance with all the applicable laws and instruments governing the Property;of Northern Ireland. (bc) to keep the Property Properties free and clear of all Encumbrances arising from its operations hereunder (except liens for taxes not yet due, other inchoate liens and liens contested in good faith by the Optionee) and will proceed with all diligence to contest and discharge any such lien that is filed; (cd) to permit the directors, officers, employees and designated consultants and agents of the Optionor, at their own risk, access to the Property Properties at all reasonable times, provided that the Optionor will indemnify the Optionee against and save it harmless from all costs, claims, liabilities and expenses that the Optionee may incur or suffer as a result of any injury (including injury causing death) to any director, officer, employee, designated consultant or agent of the Optionor while on accessing the Property Properties except to the extent that any such costs, claims, liabilities or expenses result from the Optionee’s 's gross negligence or wilful misconduct; (de) if requested indemnify and hold the Optionor harmless from any and all liabilities, costs, damages or charges arising from the failure of the Optionee to comply with the covenants contained in this article or otherwise arising from its operations on the Property; (f) allow the Optionor access at all reasonable times and intervals to all maps, reports, assay results and other factual technical data (whether in paper or electronic form) prepared or obtained by the Optionor, Optionee in connection with its operations on the Property; (g) to deliver to the Optionor quarterly semi-annual reports indicating the status of work being conducted on or before 30 days following the end Properties and an estimate of each quarterthe Expenditures incurred during the previous six months, or provided that such shorter period of time as reasonably reports will not be required by for those periods in which there is no work being conducted on the Properties; (h) to deliver to the Optionor to address any disclosure requirements as mandated under applicable securities laws, annual (calendar year) reports disclosing any significant technical data learned or obtained in connection with work in respect of the Property, as well as a breakdown of Expenditures incurred in carrying out such work; (e) if requested by the Optionor, to deliver to the Optionor reports for annual periods, disclosing any significant technical data learned or obtained in connection with work in respect of the PropertyProperties, as well as a breakdown of Expenditures incurred in carrying out such work, on or before 60 days the 31st day of March of the year following the Optionee’s financial calendar year endto which such report relates; and (fi) to maintain true and correct books, accounts and records of Expenditures.

Optionee’s Obligations. The Optionee is obligated during the Option PeriodPeriod to abide by all requirements on the Optionor under the Original Contract, including, or in addition: (a) to keep the Property in good standing by the doing and filing of all necessary work and by the doing of all other acts and things and making all other payments which may be necessary in that regard and, in doing so, to conduct all work on or with respect to the Property, in a manner consistent with good mining practice and in compliance with all the applicable laws and instruments governing the Propertyof Argentina; (b) to keep the Property in good standing in accordance with the requirements of the Original Contract and, in the event Optionee fails, or determines not, to earn the Interest, Optionee will make the next payment due to the Titleholder immediately after termination; (c) to keep the Property free and clear of all Encumbrances arising from its operations hereunder (except liens for taxes not yet due, other inchoate liens and liens contested in good faith by the Optionee) and will proceed with all diligence to contest and discharge any such lien that is filed; (cd) to permit the directors, officers, Optionor and his employees and designated consultants and agents of the Optionoragents, at their own risk, to access to the Property at all reasonable times, provided that the Optionor will indemnify the Optionee against and save it harmless from all costs, claims, liabilities and expenses that the Optionee may incur or suffer as a result of any injury (including injury causing death) to any director, officer, employee, designated consultant or agent of the Optionor while on the Property except to the extent that any such costs, claims, liabilities or expenses result from the Optionee’s 's gross negligence or wilful misconduct; (de) if requested by the Optionor, to deliver to the Optionor quarterly reports indicating the status of work being conducted on or before 30 days following the end of each quarter, or such shorter period of time as reasonably required by the Optionor to address any disclosure requirements as mandated under applicable securities laws, disclosing any significant technical data learned or obtained in connection with work in respect Property and an estimate of the Property, as well as a breakdown of Expenditures incurred during the previous three months, provided that such reports will not be required for those periods in carrying out such workwhich there is no work being conducted on the Property; (ef) if requested by the Optionor, to deliver to the Optionor annual (calendar year) reports for annual periods, disclosing any significant technical data learned or obtained in connection with work in respect of the Property, as well as a breakdown of Expenditures incurred in carrying out such work, on or before 60 days the 31st day of March of the year following the Optionee’s financial calendar year endto which such report relates; and (fg) to maintain true and correct books, accounts and records of ExpendituresExpenditures and to make them fully available for the Optionor and the Titleholder. (h) To comply with the specific responsibilities of section 5 of the Original, being: (i) responsiblity for the necessary personnel contracts for the execution of their contractual commitments and they will, regarding these personnel, give strict enforcement to the effective rules as regards labour and provisional legislation. (ii) acquiring Civil Liability insurance to cover contingencies that could occur as a consequence of the activities that the Optionee carries out on the Property. (iii) rendering the Titleholder free of responsibility for all damages or consequential damages from judgements or labour, civil, or commercial claims, or penalties formulated by third parties as a consequence of the activity that the Optionee carries out in execution of this Agreement, as well as damages caused to third party, its personnel and/or subcontractors as well as damages caused to the environment. In any one of the suppositions aforementioned, the Optionee will cover the legal defence costs of the Titleholder.