Common use of TERMINATION PRIOR TO ACQUISITION OF INTEREST Clause in Contracts

TERMINATION PRIOR TO ACQUISITION OF INTEREST. If this Agreement is terminated prior to the exercise of the Option by the Optionee, the Optionee shall forthwith: (a) return to the Optionor at no cost to the Optionor 100% undivided right, title and interest in the Property, in good standing, free and clear of all liens and encumbrances; (b) deliver copies of all exploration and development data not previously delivered; and (c) remove from the Property within twenty four (24) months of the effective date of termination all mining facilities erected, installed or brought upon the Property by or at the instance of the Optionee, and any mining facilities remaining on the Property after the expiration of the said period of twenty four (24) months shall, without compensation to the Optionee, become the property of the Optionor at his option.

TERMINATION PRIOR TO ACQUISITION OF INTEREST. If this Agreement is terminated prior to the exercise of the Option by the Optionee, the Optionee shall forthwith: (a) return to the Optionor at no cost to the Optionor 100% undivided right, title and interest in the PropertyProperties, in good standing, free and clear of all liens and encumbrances; (b) deliver copies of all exploration and development data not previously delivered; and (c) remove from the Property Properties within twenty four (24) months of the effective date of termination all mining facilities erected, installed or brought upon the Property Properties by or at the instance of the Optionee, and any mining facilities remaining on the Property Properties after the expiration of the said period of twenty four (24) months shall, without compensation to the Optionee, become the property properties of the Optionor at his option.