Common use of RIGHTS AND OBLIGATIONS OF THE ASSIGNEE Clause in Contracts

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.

Appears in 4 contracts

Samples: Assignment of Contract Agreement, Assignment of Contract Agreement (Mexoro Minerals LTD), Assignment of Contract Agreement (Sunburst Acquisitions Iv Inc)

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