RIGHTS AND OBLIGATIONS OF THE ASSIGNEE Sample Clauses

RIGHTS AND OBLIGATIONS OF THE ASSIGNEE. 5.1. Without limiting the scope, interpretation or generality of the provisions of the San Francisco Option Agreement, the rights herein acquired by the Assignee under such Agreement, include, among others a) the exclusive right and option, but not the obligation, to purchase, during the term of sixty months from the date of signing of the San Francisco Option Agreement, an undivided 100% title to the Mining Concession on payment of $ 250,000US, b) the exclusive right to carry out the Mining Activities on any portion of the Mining Concession during the term of sixty months from the date of signing of the San Francisco Option Agreement. 5.2. Without limiting the scope, interpretation or generality of the provisions of the San Francisco Option Agreement, the obligations herein assumed by the Assignee under such Agreement, include, among others a) the obligation to carry out the Mining Activities in compliance with legislation applicable to mining and protection of the environment, b) the obligation to pay the Royalty of the Concessionaire as set out in Clause 4 of the San Francisco Option Agreement, c) the obligation to make payment of mining duties owing on the Mining Concession from the date of signing of the San Francisco Option Agreement, d) the obligation to pay to the Concessionaire the amounts set out in Clause 4 of the San Francisco Option Agreement.

RIGHTS AND OBLIGATIONS OF THE ASSIGNEE. 5.1. Without limiting the scope, interpretation or generality of the provisions of the San Antonio Option Agreement, the rights herein acquired by the Assignee under such Agreement, include, among others a) the exclusive right and option, but not the obligation, to purchase, during the term of sixty months from the date of signing of the San Antonio Option Agreement, an undivided 100% title to the Mining Concessions on payment of $ 500,000US, b) the exclusive right to carry out the Mining Activities on any portion of the Mining Concessions during the term of sixty months from the date of signing of the San Antonio Option Agreement. 5.2. Without limiting the scope, interpretation or generality of the provisions of the San Antonio Option Agreement, the obligations herein assumed by the Assignee under such Agreement, include, among others a) the obligation to carry out the Mining Activities in compliance with legislation applicable to mining and protection of the environment, b) the obligation to pay the Royalty of the Concessionaire as set out in Clause 4 of the San Antonio Option Agreement, c) the obligation to make payment of mining duties owing on the Mining Concessions from the date of signing of the San Antonio Option Agreement, d) the obligation to pay to the Concessionaire the amounts set out in Clause 4 of the San Antonio Option Agreement, e) the obligation to respect the right of the Concessionaire to carry out exploitation activities on the Mining Concessions for a maximum of fifty tonnes of rock material per month, in the terms and conditions set out in Clause Twelfth of the San Antonio Option Agreement.

RIGHTS AND OBLIGATIONS OF THE ASSIGNEE. 9.1. The Assignee confirms that he clearly understands the provisions of this Agree- ment, the Assignment Agreement and the liabilities, rights and obligations arising from them, and the Assignee refuses to submit any claims against Assignor in this respect regarding the fact that these provisions have not been discussed or have been unilater- ally imposed by the Assignor. 9.2. All the actions performed from the Assignee’s profile are deemed to be the actions performed by the Assignee himself and are deemed as binding for the Assignee. 9.3. The Assignee shall ensure performance of the provisions of this Agreement and provisions of any other agreements, which it has undertaken within the framework of its relationship with the Assignor. 9.4. The Assignee shall ensure the sufficient amount of funds in its Assignee’s account to secure the performance of the Agreement and to cover the payments arising from it. 9.5. If the Assignee has not secured the sufficient amount of funds in the Assignee’s account, Assignor is not obliged to fulfil a respective task, deal or payment of the As- signee. 9.6. The Assignee undertakes not to disclose the information related to this Agreement, which might affect the interests of Assignor or the Borrower, to any third persons. 9.7. The Assignee undertakes not to request any information about the Borrower and not to start servicing the Claim and/or initiate a recovery of the Loan himself. The Assignee undertakes not to contact the Borrower in relation to the concluded Assign- ment Agreement or the acquired Claim in person or through other authorised repre- sentatives. 9.8. The Assignee shall not cancel the authorisation to Service the Claim and to manage the Claim and Service the Claim issued to Assignor during the entire period of this Agreement. 9.9. The Assignee undertakes: 9.9.1. to use the Web Page solely for the performance of the actions envisaged by it and this Agreement; 9.9.2. when registering on the Web Page, using it and entering into agreements with Assignor or communicating with Assignor, to provide only true information about him- self and other matters; 9.9.3. to perform all the necessary measures to prevent access of any third person to the Assignee’s profile; 9.9.4. to inform the Assignor immediately about any changes in the information pro- vided by the Assignee about himself on the Web Page.

RIGHTS AND OBLIGATIONS OF THE ASSIGNEE. 5.1. Without limiting the scope, interpretation or generality of the provisions of the Cieneguita Option Agreement, the rights herein acquired by the Assignee under such Agreement, include, among others a) the exclusive right and option, but not the obligation, to purchase, during the term of existence of the Mining Concessions, an undivided 100% title to the Mining Concessions on payment of $ 2,000,000US; all payments made to the Concessionaire on account of the Royalty shall be credited to the purchase price herein set out, b) the exclusive right to carry out the Mining Activities on any portion of the Mining Concessions. 5.2. Without limiting the scope, interpretation or generality of the provisions of the Cieneguita Option Agreement, the obligations herein assumed by the Assignee under such Agreement, include, among others a) the obligation to carry out the Mining Activities in compliance with legislation applicable to mining and protection of the environment, b) the obligation to pay a Royalty to the Concessionaire of $20 US per once of gold extracted from the Mining Concessions, plus $0.10 US per each dollar above the $400 US per once of gold price fixed by international markets mutually agreed by the parties, as set out in Section 5 of the Cieneguita Option Agreement; all payments made to the Concessionaire on account of the Royalty shall be deducted from the purchase price of the Mining Concessions set out in Section 3 of the Cieneguita Option Agreement, c) the obligation to make payment of mining duties owing from 1st semester 2004; it being agreed that the Assignor shall be responsible for payment of such mining duties, including later payment charges and inflationary adjustments, accrued from the date of signing of the Cieneguita Option Agreement through December 31, 2003, d) the Assignee hereby agrees to effect the cancellation of the debt owing by the Assignor to the Assignee and/or to Sierra Minerals and Mining Inc. for a total of US $225,000 (two hundred twenty five thousand United States dollars) and to cancel the two promissory notes signed by the Assignor in favour of the Assignee pursuant to such debt.

RIGHTS AND OBLIGATIONS OF THE ASSIGNEE. The Assignee shall make the delivery under Article 1 of this Contract with high quality and in a timely manner, in accordance with the terms and conditions laid down in the Assignor's Terms of Reference and the Assignee's tender.