Common use of Surrender of Rights Clause in Contracts

Surrender of Rights. Subject to Section 5.4, the Optionee may at any time during the Option Period give the Optionor written notice of its intentions to surrender all of its rights hereunder, whereupon the Option and this Agreement shall terminate and the working right herein shall lapse.

Surrender of Rights. Subject to Section 5.4, the Optionee may at any time during the Option Period give the Optionor Optionors written notice of its intentions to surrender all of its rights hereunder, whereupon the Option and this Agreement shall terminate and the working right herein shall lapse.

Surrender of Rights. Subject to Section 5.4section 6.3, the Optionee may at any time during the Option Period give the Optionor and each of the six Subsidiaries written notice of its intentions the Optionee’s intention to surrender all of its rights hereunderhereunder and, whereupon upon expiration of 30 days from the Option and date of receipt by the Optionor of such notice, this Agreement shall terminate and the Option and working right granted herein shall lapse.

Surrender of Rights. Subject to Section 5.4section 6.3, the Optionee may at any time during the Option Period give the Optionor written notice of its intentions the Optionee’s intention to surrender all of its rights hereunderhereunder and, whereupon upon expiration of 30 days from the Option and date of receipt by the Optionor of such notice, this Agreement shall terminate and the Option and working right granted herein shall lapse.

Surrender of Rights. Subject to Section 5.45.3, the Optionee may at any time during the Option Period give the Optionor written notice of its intentions to surrender all of its rights hereunder, whereupon the Option and this Agreement shall terminate and the working right herein shall lapse.