The Yura Exploration Program Clause Samples

The Yura Exploration Program. Zoro commits to diligently commence, pursue and complete the Yura Exploration Program (as such term is defined in the LOI) set forth in the LOI and ensure timely compliance with the requirements thereof. Zoro acknowledges and agrees that should Zoro fail to diligently and timely initiate, pursue or complete the Yura Exploration Program, or if Zoro is otherwise in default of the LOI, Minex shall have the right to elect, upon 30 days written notice to Zoro, to require Zoro to assign its right, title and interest in and to the LOI to Minex, or Minex’s designee. From and after such election by Minex, Zoro acknowledges and agrees that (a) Minex, or its designee, shall be entitled to receive all of the rights and benefits under the LOI that Zoro was to have received and (b) Zoro shall no longer have any right or interest in the Yura Project.