Purchase of Royalty. If the Option is exercised, the Optionee or its assigns shall have the right at any time to purchase from the Optionor 50% (being 0.75%) percent of the Royalty from the Optionor for $500,000 by way of certified cheque or bank draft within 30 days of such election by the Optionee. In connection with the exercise of such right to elect, the Optionor shall execute and deliver all such documents, agreements, transfers and quit claims as the solicitors for the Optionee may reasonably require. Upon such purchase and payment being made, the Royalty shall thereafter be calculated as being reduced to 0.75%. Thereafter, the Optionee or its assigns shall have the right of first refusal to purchase the Royalty from the Optionor should the Optionor wish to sell, assign, transfer, convey or otherwise dispose of or deal with the Royalty in accordance with the provisions of Article 7, mutatis mutandis.
Purchase of Royalty. One half (50%) of the Royalty may be purchased from Vendor by Wave Uranium as set forth in the Agreement.
Purchase of Royalty. At any point in time, PWI will be entitled to acquire up to and including 50% of FWG's royalty interests at the rate of US $15,000 per percent acquired.
Purchase of Royalty. (a) At any time between the Effective Date and the 30 month anniversary thereof, if and only if the Owners shall have entered into one or more metal stream agreements with respect to the Claims with the Royalty Holder or any Affiliate of the Royalty Holder that have an aggregate upfront deposit of at least US$20.0 million (or such other smaller amount, in the Royalty Holder’s sole discretion), the Owners shall have the exclusive and irrevocable right and option to purchase the Royalty by making a payment to the Royalty Holder in the amount of CDN$500,000 in cash by wire transfer.
(b) If the Owners elect to purchase the Royalty pursuant to section 2.8(a), payment by the Owners to the Royalty Holder shall be made with a minimum of 30 days’ prior written notice to the Royalty Holder. Upon receipt of such payment set forth in section 2.8(a), without set off, deduction or defalcation, the Royalty Holder shall convey and /or cancel and surrender the Royalty to the Owners by way of a mutually agreeable deed in recordable form, and such conveyance shall be made free and clear of all liens, claims and encumbrances arising by, through or under the Royalty Holder. If the Royalty Holder fails to timely deliver such a deed within a further period of 30 days after receipt of the said CDN$500,000 in cash by wire transfer (provided that the condition set forth in section 2.8(a) has been satisfied), the Royalty shall be deemed to be cancelled without any further or other act by any Party hereto.
Purchase of Royalty. In consideration for the promises and covenants of the Company contained in this Agreement, including the grant of the Royalty and obligation to make the Royalty payments, the Royalty Holder hereby agrees to pay to the Company the Purchase Price inclusive of all applicable Taxes on the Execution Date. The Parties agree that the Royalty will be purchased, and the Purchase Price will be paid, in accordance with the terms of the Note.
Purchase of Royalty. At any time between the Effective Date and the 30 month anniversary thereof, if and only if the Owner shall have entered into a metal stream agreement with respect to the Property with the Royalty Holder or any Affiliate of the Royalty Holder that has an upfront deposit of greater than US$30.0 million, the Owner shall have the exclusive and irrevocable right and option to purchase the Royalty by making a payment to the Royalty Holder in the amount of US$12.0 million in cash by wire transfer. Such payment shall be made with a minimum of 30 days prior written notice to the Royalty Holder. If the Owner elects to purchase the Royalty pursuant to this section 2.8, the Royalty Holder shall convey the Royalty to the Owner by way of a mutually agreeable royalty deed in recordable form, and such conveyance shall be made free and clear of all liens, claims and encumbrances arising by, through or under the Royalty Holder. If the Royalty Holder fails to timely deliver such a royalty deed, the Parties agree that the Owner shall have the right of specific performance to enforce that obligation, as well as all other legal and equitable remedies available to it in connection with such failure.
Purchase of Royalty. The Purchaser shall have the right at any time to repurchase either (i) one half of the Royalty from the Vendor on payment to the Vendor of the sum of $1,000,000 or (ii) all of the Royalty from the Vendor on payment to the Vendor of the sum of $2,000,000. The right to repurchase the Royalty shall terminate sixty days after the Date of Commencement of Commercial Production on the Property, as defined in Schedule “B” hereto. The Royalty purchased hereunder will include any payments on account of the Royalty which may become due in respect of the calendar quarter in which the purchase occurs, but not in respect of any preceding calendar quarter.
Purchase of Royalty. The transactions under the Funding Agreement shall have been closed.
Purchase of Royalty. The transactions under the Royalty Purchase Agreement shall have been consummated.
Purchase of Royalty. The Payor may at any time, until the third year after the Commencement of Commercial Production Commences, purchase up to 2% of the Royalty pursuant to the terms of the Agreement. In the event of any such purchase, the Royalty will be adjusted commencing on the first day of the next Calendar Quarter.
