Common use of Reclamation; Removal of Property Clause in Contracts

Reclamation; Removal of Property. Upon termination of this Agreement, Lessee shall have a continuing right to enter upon the Premises to complete required reclamation. Lessee shall have a period of one year after the date of termination in which to enter upon and remove from the Premises all of its machinery, buildings, structures, facilities, equipment and other property of every nature and description erected, placed or situated thereon, except foundations of a permanent nature and supports, track and pipe placed in shafts, drifts or openings in the Premises. Any property of Lessee not removed by the end of this one-year period shall become the property of Lessor; however, Lessee does not warrant the condition or safety of any such property. Lessee shall have the right to keep a watchman on the Premises during this one-year period. The provisions of this Section 6.D shall not apply to any part of the Premises acquired by Lessee through exercise of Lessee’s Option to purchase the Premises.

Appears in 2 contracts

Samples: Mineral Lease Agreement and Option to Purchase (Midway Gold Corp), Mineral Lease Agreement and Option to Purchase (Midway Gold Corp)

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Reclamation; Removal of Property. Upon termination of this Agreement, Lessee shall have a continuing right to enter upon the Premises to complete required reclamation. Lessee shall have a period of one year after the date of termination in which to enter upon and remove from the Premises all of its machinery, buildings, structures, facilities, equipment and other property of every nature and description erected, placed or situated thereon, except foundations of a permanent nature and supports, track and pipe placed in shafts, drifts or openings in the Premises. Any property of Lessee not removed by the end of this one-year period shall become the property of Lessor; however, Lessee does not warrant the condition or safety of any such property. Lessee shall have the right to keep a watchman on the Premises during this one-year period. The provisions of this Section 6.D shall not apply to any part of the Premises acquired by Lessee termination through exercise of Lessee’s Option option to purchase the Premises.

Appears in 2 contracts

Samples: Mineral Lease Agreement and Option to Purchase (Midway Gold Corp), Mineral Lease Agreement and Option to Purchase (Midway Gold Corp)

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Reclamation; Removal of Property. Upon termination of this Agreement, Lessee shall have a continuing right to enter upon the Premises to complete required reclamation. Lessee shall have a period of one year after the date of termination in which to enter upon and remove from the Premises all of its machinery, buildings, structures, facilities, equipment and other property of every nature and description erected, placed or situated thereon, except foundations of a permanent nature and supports, track and pipe placed in shafts, drifts or openings in the Premises. Any property of Lessee not removed by the end of this one-year period shall become the property of Lessor; however, Lessee does not warrant the condition or safety of any such property. Lessee shall have the right to keep a watchman on the Premises during this one-year period. The provisions of this Section 6.D shall not apply to any part of the Premises acquired by Lessee through exercise of Lessee’s Option to purchase the Premises.

Appears in 2 contracts

Samples: Mineral Lease (Prophecy Development Corp.), Mineral Lease Agreement (Prophecy Development Corp.)

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