Common use of Ownership of Licenses Clause in Contracts

Ownership of Licenses. (i) Subject to the Permitted Encumbrances, and the paramount ownership by the Government of Sweden, Seller is the legal and beneficial owner of a 100% interest in the Licenses. (ii) All of the Licenses have been properly located and recorded in compliance with Legal Requirements and are comprised of valid and subsisting mineral claims. (iii) The Licenses are in good standing under all applicable Legal Requirements and all work required to be performed and filed in respect thereof has been performed and filed, all Taxes, rentals, fees, expenditures and other payments in respect thereof have been paid or incurred and all filings in respect thereof have been made. (iv) There is no material adverse claim against or challenge to the title to or ownership of any of the Licenses. (v) Subject to the paramount ownership by the Government of Sweden, the Seller has the exclusive right to deal with the Licenses. (vi) Subject to the paramount ownership by the Government of Sweden, no Person other than the Seller has any interest in the Licenses or the production or profits therefrom or any royalty in respect thereof or any right to acquire any such interest. (vii) There are no material restrictions on the ability of the Seller to use, transfer or exploit the Licenses, except pursuant to the Legal Requirements.

Ownership of Licenses. (i) Subject to the Permitted Encumbrances, and the paramount ownership by the Government of Sweden, Seller is the legal and beneficial owner of a 100% interest in the Licenses. (ii) All of the Licenses have been properly located and recorded in compliance with Legal Requirements and are comprised of valid and subsisting mineral claims. (iii) The Licenses are in good standing under all applicable Legal Requirements and all work required to be performed and filed in respect thereof has been performed and filed, all Taxes, rentals, fees, expenditures and other payments in respect thereof have been paid or incurred and all filings in respect thereof have been made. (iv) There is no material adverse claim against or challenge to the title to or ownership of any of the Licenses. (v) Subject to the paramount ownership by the Government of Sweden, the Seller has the exclusive right to deal with the Licenses. (vi) Subject to the paramount ownership by the Government of Sweden, no Person other than the Seller has any interest in the Licenses or the production or profits therefrom or any royalty in respect thereof or any right to acquire any such interest. (vii) There are no material restrictions on the ability of the Seller to use, transfer or exploit the Licenses, except pursuant to the Legal Requirements. (viii) Seller has not received any notice, whether written or oral, from any Governmental Authority of any revocation or intention to revoke any interest of Seller in any of the claims comprising the Licenses.