Common use of SURRENDER OF INTEREST Clause in Contracts

SURRENDER OF INTEREST. 17.01 Any party not in default hereunder may, at any time upon notice, surrender its entire Interest to the other parties by giving those parties notice of surrender. The notice of surrender shall: (a) indicate a date for surrender not less than three months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party will: (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 hereof, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 and upon delivery of a release in writing, in form acceptable to counsel for the Operator, releasing the other parties from all claims and demands hereunder, the surrendering party shall be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 A party to whom a notice of surrender has been given as contemplated in paragraph 17.01 may elect, by notice within 90 days to the party which first gave the notice to accept the surrender, in which case paragraphs 17.01 and 17.02 shall apply, or to join in the surrender. If all of the parties join in the surrender the Joint Operation shall be terminated in accordance with article 18.

SURRENDER OF INTEREST. 17.01 17.1 Any party not in default hereunder may, Party may at any time upon notice, surrender its entire Interest to the other parties Parties by giving those parties Parties notice of surrender. The notice of surrender shall: (a) indicate a date for surrender not less than three months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party Party will: (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 section 14.4 hereof, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering partyParty's then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 17.2 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 section 17.1 and upon delivery of a release in writing, writing in form acceptable to counsel for the Operator, Operator releasing the other parties from all claims and demands demand hereunder, the surrendering party shall be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 17.3 A party Party to whom a notice of surrender has been given as contemplated in paragraph 17.01 may elect, by notice within 90 days to the party Party which first gave the notice notice, to accept the surrender, in which case paragraphs 17.01 and 17.02 the provisions of this Article shall apply, or to join in the surrender. If all of the parties Parties join in the surrender the Joint Operation shall be terminated in accordance with article Article 18.

SURRENDER OF INTEREST. 17.01 17.1 Any party not in default hereunder may, at any time upon notice, surrender its entire Interest to the other parties by giving those parties notice of surrender. ; The notice of surrender shall: (a) indicate a date for surrender not less than three months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party will:: Joint-Venture Agreement Azimut Exploration Inc. & Northwestern Mineral Ventures Inc. (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 14.4 hereof, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's ’s then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 17.2 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 17.1 and upon delivery of a release in writing, in form acceptable to counsel for the Operator, releasing the other parties from all claims and demands hereunder, the surrendering party shall be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 17.3 A party to whom a notice of surrender has been given as contemplated in paragraph 17.01 17.1 may elect, by notice within 90 days to the party which first gave the notice to accept the surrender, in which case paragraphs 17.01 17.1 and 17.02 17.2 shall apply, or to join in the surrender. If all of the parties join in the surrender the Joint Operation shall be terminated in accordance with article 18.

SURRENDER OF INTEREST. 17.01 22.1 Any party Party not in default hereunder may, at any time upon notice, surrender its entire Interest to the other parties Parties by giving those parties Parties notice of surrender. The notice of surrender shallwill: (a) indicate a date for surrender not less than three months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party Party will: (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 hereof20.4, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering partyParty's then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 22.2 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 22.1 and upon delivery of a release in writing, in form acceptable to counsel for the Operator, releasing the other parties Parties from all claims and demands hereunder, the surrendering party shall Party will be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 22.3 A party Party to whom a notice of surrender has been given as contemplated in paragraph 17.01 22.1 may elect, elect by written notice within 90 days to the party Party which first gave the notice notice: (a) to accept the surrender, in which case paragraphs 17.01 22.1 and 17.02 shall 22.2 will apply, or ; or (b) to join in the surrender. If all of the parties Parties join in the surrender the Joint Operation shall Venture will be terminated in accordance with article 18Article 23.

SURRENDER OF INTEREST. 17.01 17.1 Any party not in default hereunder may, at any time upon notice, surrender its entire Interest to the other parties by giving those parties notice of surrender. The notice of surrender shall: (a) indicate a date for surrender not less than three months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party will: (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 14.4 hereof, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 17.2 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 17.1 and upon delivery of a release in writing, in form acceptable to counsel for the Operator, releasing the other parties from all claims and demands hereunder, the surrendering party shall be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 17.3 A party to whom a notice of surrender has been given as contemplated in paragraph 17.01 17.1 may elect, by notice within 90 days to the party which first gave the notice to accept the surrender, in which case paragraphs 17.01 17.1 and 17.02 17.2 shall apply, or to join in the surrender. If all of the parties join in the surrender the Joint Operation shall be terminated in accordance with article 18.

SURRENDER OF INTEREST. 17.01 21.1 Any party Party not in default hereunder may, at any time upon notice, surrender its entire Interest to the other parties Parties by giving those parties Parties notice of surrender. The notice of surrender shallwill: (a) indicate a date for surrender not less than three months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party Party will: (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 hereof19.4, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's Party’s then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 21.2 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 21.1 and upon delivery of a release in writing, in form acceptable to counsel for the Operator, releasing the other parties Parties from all claims and demands hereunder, the surrendering party shall Party will be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 21.3 A party Party to whom a notice of surrender has been given as contemplated in paragraph 17.01 21.1 may elect, elect by written notice within 90 days to the party Party which first gave the notice notice: (a) to accept the surrender, in which case paragraphs 17.01 21.1 and 17.02 shall 21.2 will apply, or ; or (b) to join in the surrender. If all of the parties Parties join in the surrender the Joint Operation shall Venture will be terminated in accordance with article 18Article 22.

SURRENDER OF INTEREST. 17.01 17.1 Any party not in default hereunder may, at any time upon notice, surrender its entire Interest to the other parties by giving those parties notice of surrender. The notice of surrender shall: (a) indicate a date for surrender not less than three months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party will: (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 14.4 hereof, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's ’s then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 17.2 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 17.1 and upon delivery of a release in writing, in form acceptable to counsel for the Operator, releasing the other parties from all claims and demands hereunder, the surrendering party shall be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 17.3 A party to whom a notice of surrender has been given as contemplated in paragraph 17.01 17.1 may elect, by notice within 90 days to the party which first gave the notice to accept the surrender, in which case paragraphs 17.01 17.1 and 17.02 17.2 shall apply, or to join in the surrender. If all of the parties join in the surrender the Joint Operation shall be terminated in accordance with article 18.

SURRENDER OF INTEREST. 17.01 Any party Member not in default hereunder under this Agreement may, at any time upon notice, surrender its entire Ownership Interest and Capital Account to the other parties Member(s) by giving those parties Members notice of surrender. The notice of surrender shallwill: (a) indicate a date for surrender not less than three months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party Party will: (i) satisfy its Proportionate Share, based on its then Ownership Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator Manager has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 hereofSection 18.4, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's Party’s then Ownership Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 . Upon the surrender of its entire Ownership Interest as contemplated in paragraph 17.01 Section 10.4 and upon delivery of a release in writing, in form acceptable to counsel for the OperatorManager, releasing the other parties Members from all claims and demands hereunder, the surrendering party shall Party will be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 . A party Member to whom a notice of surrender has been given as contemplated in paragraph 17.01 Section 10.4 may elect, elect by written notice within 90 ninety (90) days to the party Member which first gave the notice to accept the surrender, in which case paragraphs 17.01 Section 10.4 will apply and 17.02 that Member shall apply, or to join in the surrender. If all of the parties Members join in the surrender the Joint Operation shall Company will be terminated in accordance with article 18Article XXIII.

SURRENDER OF INTEREST. 17.01 17.1. Any party Party not in default hereunder may, at any time upon notice, surrender its entire Interest to the other parties Parties by giving those parties Parties notice of surrender. The its intention to do so, which notice of surrender shall: (a) indicate a date for surrender not less than three months 30 days after the date on which the notice is given; and; (b) contain an undertaking that the surrendering party Party will: (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 hereof, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's its then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information Confidential Information and data which it acquired pursuant to this Agreement; (c) be accompanied by an irrevocable and unconditional letter of credit, a security or guarantee policy issued on behalf of the other Parties by a bank, a savings and credit union or a trust company or a company legally authorized to act in that quality guaranteeing the execution of the obligations contemplated in paragraphs (b)(i) and (b)(ii) of this Subsection 17.1. 17.02 17.2. Upon the surrender of its entire Interest as contemplated in paragraph 17.01 Subsection 17.1 and upon delivery of a release in writing, in form acceptable to counsel for the Operator, releasing the other parties Parties from all claims and demands hereunder, the surrendering party Party shall be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 17.3. A party Party to whom a notice of surrender has been given as contemplated in paragraph 17.01 Subsection 17.1 may elect, by notice within 90 days to the party Party which first gave the notice notice, to AGNICO-EAGLE MINES LIMITED / AMERICAN BONANZA GOLD CORP. FRASER XXXXXX CASGRAIN LLP Option Agreement – Xxxxx / Noyon-Xxxxxxxx Properties November 15, 2007 accept the surrender, in which case paragraphs 17.01 Subsections 17.1 and 17.02 17.2 shall apply, or to join in the surrender. If all of the parties Parties join in the surrender the that Joint Operation shall be terminated in accordance with article Section 18.

SURRENDER OF INTEREST. 17.01 17.1 Any party not in default hereunder may, at any time upon notice, surrender its entire Interest to the other parties by giving those parties notice of surrender. The notice of surrender shall: (a) indicate a date for surrender not less than three months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party will: (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 Section 14.4 hereof, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's ’s then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 17.2 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 Section 17.1 and upon delivery of a release in writing, in form acceptable to counsel for the Operator, releasing the other parties from all claims and demands hereunder, the surrendering party shall be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 17.3 A party to whom a notice of surrender has been given as contemplated in paragraph 17.01 Section 17.1 may elect, by notice within 90 days to the party which first gave the notice to accept the surrender, in which case paragraphs 17.01 Sections 17.1 and 17.02 17.2 shall apply, or to join in the surrender. If all of the parties join in the surrender the Joint Operation shall be terminated in accordance with article 18Section 18.0.

SURRENDER OF INTEREST. 17.01 Any 27.01 any party not in default hereunder may, at any time upon notice, surrender its entire Interest to the other parties by giving those parties notice of surrender. The notice of surrender shall: (a) which shall indicate a date for surrender not less than three months after the date on which the notice is given; and (b) given and contain an undertaking that the surrendering party will: (ia) satisfy its Proportionate Shareproportionate share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (iib) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 hereof, pay on the date of surrender its reasonably estimated Proportionate Shareproportionate share, based on the surrendering party's its then Interestinterest, of the Costs of or rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; surrender and (iiic) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 27.02 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 subsection 27.01 and upon delivery of a release in writing, in form acceptable to counsel for the Operator, releasing the other parties from all claims and demands hereunder, the surrendering party shall be relieved of all obligations or liabilities hereunder except for those which arose arise or accrued or were accruing due on or before the date of the surrender. 17.03 27.03 A party to whom a notice of surrender has been given as contemplated in paragraph 17.01 subsection 27.01 may elect, by notice within 90 days to the party which first gave the notice notice, to accept the surrender, in which case paragraphs 17.01 subsection 27.01 and 17.02 27.02 shall apply, or to join in the surrender. If all of the parties join in the surrender the Joint Operation shall be bet terminated in accordance with article 18subsections 17.02 and 17.03.

SURRENDER OF INTEREST. 17.01 17.1 Any party not in default hereunder may, Party may at any time upon notice, surrender its entire Interest to the other parties Parties by giving those parties Parties notice of surrender. The notice of surrender shall: (a) indicate a date for surrender not less than three months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party Party will: (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 section 14.4 hereof, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering partyParty's then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 17.2 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 section 17.1 and upon delivery of a release in writing, writing in form acceptable to counsel for the Operator, Operator releasing the other parties Parties from all claims and demands demand hereunder, the surrendering party Party shall be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 17.3 A party Party to whom a notice of surrender has been given as contemplated in paragraph 17.01 may elect, by notice within 90 days to the party Party which first gave the notice notice, to accept the surrender, in which case paragraphs 17.01 and 17.02 the provisions of this Article shall apply, or to join in the surrender. If all of the parties Parties join in the surrender the Joint Operation shall be terminated in accordance with article Article 18.

SURRENDER OF INTEREST. 17.01 16.1 Any party not in default hereunder may, at any time upon notice, surrender its entire Interest to the other parties by giving those parties notice of surrender. The notice of surrender shallwill: (a) indicate a date for surrender not less than three (3) months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party will: (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the effective date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 Section 14.4 hereof, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two (2) years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 16.2 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 Section 16.1 and upon delivery of a release in writing, in form acceptable to counsel for the Operator, releasing the other parties from all claims and demands hereunder, and satisfying or securing the performance of, to the satisfaction of the remaining parties, the undertaking referred to in Subsection 16.1(b) above, the surrendering party shall will be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 16.3 A party to whom a notice of surrender has been given as contemplated in paragraph 17.01 Section 16.1 may elect, by notice within 90 ninety (90) days to the party which first gave the notice notice, to accept the surrender, in which case paragraphs 17.01 Sections 16.1 and 17.02 shall 16.2 will apply, or to join in the surrender. If all of the parties join in the surrender the Joint Operation shall will be terminated in accordance with article 18Article 17.

SURRENDER OF INTEREST. 17.01 17.1 Any party not in default hereunder may, at any time upon notice, surrender its entire Interest to the other parties by giving those parties notice of surrender. The notice of surrender shall: (a) indicate a date for surrender not less than three months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party will: (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 hereof, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's ’s then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 17.2 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 and upon delivery of a release in writing, in form acceptable to counsel for the Operator, releasing the other parties from all claims and demands hereunder, the surrendering party shall be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 17.3 A party to whom a notice of surrender has been given as contemplated in paragraph 17.01 may elect, by notice within 90 days to the party which first gave the notice to accept the surrender, in which which, case paragraphs 17.01 and 17.02 shall apply, or to join in the surrender. If all of the parties join in the surrender the Joint Operation shall be terminated in accordance with article 18.

SURRENDER OF INTEREST. 17.01 21.1 Any party Party not in default hereunder may, at any time upon notice, surrender its entire Interest to the other parties Parties by giving those parties Parties notice of surrender. The notice of surrender shallwill: (a) indicate a date for surrender not less than three months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party Party will: (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 hereof19.4, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's Party’s then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 21.2 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 21.1 and upon delivery of a release in writing, in form acceptable to counsel for the Operator, releasing the other parties Parties from all claims and demands hereunder, the surrendering party shall Party will be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 21.3 A party Party to whom a notice of surrender has been given as contemplated in paragraph 17.01 21.1 may elect, by notice within 90 days to the party Party which first gave the notice to accept the surrender, in which case paragraphs 17.01 21.1 and 17.02 shall 21.2 will apply, or to join in the surrender. If all of the parties Parties join in the surrender the Joint Operation shall Venture will be terminated in accordance with article 18Article 22.

SURRENDER OF INTEREST. 17.01 17.1 Any party not in default hereunder may, at any time upon notice, surrender its entire Interest to the other parties by giving those parties notice of surrender. The notice of surrender shall: (a) indicate a date for surrender not less than three months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party will: (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 14.4 hereof, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 17.2 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 17.1 and upon delivery of a release in writing, in form acceptable to counsel for the Operator, releasing the other parties from all claims and demands hereunder, the surrendering party shall be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 17.3 A party to whom a notice of surrender has been given as contemplated in paragraph 17.01 17.1 may elect, by notice within 90 days to the party which first gave the notice to accept the surrender, in which which, case paragraphs 17.01 17.1 and 17.02 17.2 shall apply, or to join in the surrender. If all of the parties join in the surrender the Joint Operation shall be terminated in accordance with article 18.

SURRENDER OF INTEREST. 17.01 Any party Member not in default hereunder under this Agreement may, at any time upon notice, surrender its entire Ownership Interest and Capital Account to the other parties Member(s) by giving those parties Members notice of surrender. The notice of surrender shallwill: (a) indicate a date for surrender not less than three (3) months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party Member will: (i) satisfy its Proportionate Share, based on its then Ownership Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator Manager has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 hereofSection 18.4, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's Member’s then Ownership Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 . Upon the surrender of its entire Ownership Interest as contemplated in paragraph 17.01 this Section 10.4 and upon delivery of a release in writing, in form acceptable to counsel for the OperatorManager, releasing the other parties Member from all claims and demands hereunder, the surrendering party shall Member will be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 . A party Member to whom a notice of surrender has been given as contemplated in paragraph 17.01 this Section 10.4 may elect, by notice within 90 ninety (90) days to the party Member which first gave the notice to accept the surrender, in which case paragraphs 17.01 paragraph 10.4 will apply and 17.02 that Member shall apply, or to join in the surrender. If all of the parties Members join in the surrender the Joint Operation shall Company will be terminated in accordance with article 18Article XXIII.

SURRENDER OF INTEREST. 17.01 Any party Member not in default hereunder under this Agreement may, at any time upon notice, surrender its entire Ownership Interest and Capital Account to the other parties Member(s) by giving those parties Members notice of surrender. The notice of surrender shallwill: (a) indicate a date for surrender not less than three (3) months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party Member will: (i) satisfy its Proportionate Share, based on its then Ownership Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator Manager has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 hereofSection 18.4, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's Member’s then Ownership Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 . Upon the surrender of its entire Ownership Interest as contemplated in paragraph 17.01 this Section 10.4 and upon delivery of a release in writing, in form acceptable to counsel for the OperatorManager, releasing the other parties Member from all claims and demands hereunder, the surrendering party shall Member will be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 . A party Member to whom a notice of surrender has been given as contemplated in paragraph 17.01 this Section 10.4 may elect, by notice within 90 ninety (90) days to the party Member which first gave the notice to accept the surrender, in which case paragraphs 17.01 paragraph 10.4 will apply and 17.02 that Member shall apply, or to join in the surrender. If all of the parties Members join in the surrender the Joint Operation shall Company will be terminated in accordance with article 18.

SURRENDER OF INTEREST. 17.01 18.1 Any party not in default hereunder may, at any time upon notice, surrender its entire Interest to the other parties by giving those parties notice of surrender. The notice of surrender shall: (a) indicate a date for surrender not less than three months after the date on which the notice is given; and (b) contain an undertaking that the surrendering party will: (i) satisfy its Proportionate Share, based on its then Interest, of all obligations and liabilities which arose at any time prior to the date of surrender; (ii) if the Operator has not included in Mine Costs the costs of continuing obligations as set out in paragraph 14.04 Section 15.4 hereof, pay on the date of surrender its reasonably estimated Proportionate Share, based on the surrendering party's ’s then Interest, of the Costs of rehabilitating the Mine site and of reclamation based on the Mining Operations completed as at the date of surrender; and (iii) will hold in confidence, for a period of two years from the date of surrender, all information and data which it acquired pursuant to this Agreement. 17.02 18.2 Upon the surrender of its entire Interest as contemplated in paragraph 17.01 Section 18.1 and upon delivery of a release in writing, in form acceptable to counsel for the Operator, releasing the other parties from all claims and demands hereunder, the surrendering party shall be relieved of all obligations or liabilities hereunder except for those which arose or accrued or were accruing due on or before the date of the surrender. 17.03 18.3 A party to whom a notice of surrender has been given as contemplated in paragraph 17.01 Section 18.1 may elect, by notice within 90 days to the party which first gave the notice to accept the surrender, in which case paragraphs 17.01 Sections 18.1 and 17.02 18.2 shall apply, or to join in the surrender. If all of the parties join in the surrender the Joint Operation shall be terminated in accordance with article 18.Section 19.0