Common use of Transfer by Owner Clause in Contracts

Transfer by Owner. The Owner shall be entitled to assign, sell, transfer, lease, mortgage, charge or otherwise encumber any of the Mining Property or the Minerals or the proceeds thereof and its rights and obligations under this NSR Agreement, provided the following conditions are satisfied, and upon such conditions being satisfied in respect of any such assignment, sale or transfer only (but not in respect of any such lease, mortgage, charge or other encumbrance), and subject to the provision of Section 19.3 below, the Owner shall be released from all obligations under this NSR Agreement: (a) any purchaser, transferee, lessee or assignee of such Mining Property or this NSR Agreement agrees in advance in writing in favour of the Holder to be bound by the terms of this NSR Agreement including, without limitation, this Section 14 and the indemnity provisions set out in Section 17 of this NSR Agreement; (b) any purchaser, transferee or assignee of this NSR Agreement has simultaneously acquired the Owner’s right, title and interest in and to such Mining Property; (c) any mortgagee, chargee, lessee, assignee or encumbrancer of such Mining Property or this NSR Agreement agrees in advance in writing in favour of the Holder to be bound by and subject to the terms of this NSR Agreement in the event it takes possession of or forecloses on all or part of such Mining Property and acknowledges that the Holder shall be entitled to receive the Royalty payments to which it is entitled hereunder in priority to any payments to such mortgagee, chargee, lessee, assignee or encumbrancer and undertakes to obtain an agreement in writing in favour of the Holder from any subsequent purchaser, lessee, assignee or transferee of such mortgagee, chargeholder, lessee or encumbrancer that such subsequent purchaser, lessee, assignee or transferee will be bound by the terms of this NSR Agreement including, without limitation, this Section14; and (d) any royalty or other similar interest in or to such Mining Property, or in and to any Minerals, granted by the Owner after the date hereof, shall contain a term to the effect that no payment thereof, in cash or in product in kind, shall be made until the Royalty hereunder has been paid in full for the relevant time period.

Transfer by Owner. The Owner shall be entitled to assign, sell, transfer, lease, mortgage, charge or otherwise encumber any of the Mining Property or the Minerals or the proceeds thereof from the Minerals and its rights and obligations under this NSR Agreement; provided, provided however, the following conditions are satisfiedsatisfied and, and upon such conditions being satisfied in respect of any such assignment, sale or transfer only (but not in respect of any such leaseand, mortgage, charge or other encumbrance), and subject to the provision of Section 19.3 below4.10, the Owner and, unless the transfer is to an affiliate of the Owner or Parent, the Parent shall be released from all obligations under this NSR Agreement:Agreement (other than with respect to obligations, including as to payments of Royalty and other amounts hereunder, accrued or payable in respect of any period prior thereto): (a) any purchaser, transferee, lessee or assignee of such Mining the Property or this NSR Agreement agrees in advance in writing in favour of the Holder to be bound by the terms of this NSR Agreement includingAgreement, without limitation, including this Section 14 4.04 and the indemnity provisions set out in Section 17 of this NSR Agreement4.06(b); (b) any purchaser, transferee transferee, lessee or assignee of this NSR Agreement has simultaneously acquired the Owner’s 's right, title and interest in and to such Mining the Property; (c) any mortgagee, chargee, lessee, assignee or encumbrancer of such Mining the Property or this NSR Agreement agrees in advance in writing in favour of the Holder to be bound by and subject to the terms of this NSR Agreement in the event if it takes possession of or forecloses on all or part of such Mining the Property and acknowledges that the Holder shall be entitled to receive the Royalty payments to which it is entitled hereunder under this Agreement in priority to any payments to such mortgagee, chargee, lessee, assignee or encumbrancer and undertakes to obtain an agreement in writing in favour of the Holder from any subsequent purchaser, lessee, assignee or transferee of such mortgagee, chargeholder, lessee or encumbrancer that such subsequent purchaser, lessee, assignee or transferee will be bound by the terms of this NSR Agreement includingAgreement, without limitation, including this Section14; andSection 4.04; (d) any royalty or other similar interest in or to such Mining Property, the Property or in and to any Minerals, Minerals granted by the Owner after the date hereof, of this Agreement shall contain a term to the effect that no payment thereofpayment, in cash or in product in kind, shall be made until the Royalty hereunder granted under this Agreement has been paid in full for the relevant time period. Notwithstanding anything else herein, the Owner shall not, and shall cause its affiliates not to, create, grant, sell or allow to be created or granted any other royalties or similar interest in respect of the Property, without the prior written consent of the Holder, which consent will not be unreasonably withheld; and (e) the Owner provides prior written notice to the Holder of any such assignment, sale, lease, transfer or charge if reasonably practicable and, in any event, provides such written notice as soon as reasonably practicable thereafter.

Transfer by Owner. The Owner shall be entitled to assign, sell, transfer, lease, mortgage, charge or otherwise encumber any of the Mining Property or the Minerals Products or the proceeds thereof and its rights and obligations under this NSR Agreement, provided the following conditions are satisfied, and upon such conditions being satisfied in respect of any such assignment, sale or transfer only (but not in respect of any such lease, mortgage, charge or other encumbrance), and subject to the provision of Section 19.3 20.3 below, the Owner shall be released from all obligations under this NSR AgreementAgreement that would otherwise arise in respect of the time period commencing on the effective date of such assignment, sale or transfer: (a) any purchaser, transferee, lessee or assignee of such Mining Property or this NSR Agreement agrees in advance in writing in favour of the Holder to be bound by the terms of this NSR Agreement including, without limitation, this Section 14 and the indemnity provisions set out in Section 17 19 of this NSR Agreement; (b) any purchaser, transferee or assignee of this NSR Agreement has simultaneously acquired the Owner’s right, title and interest in and to such Mining Property; (c) any mortgagee, chargee, lessee, assignee or encumbrancer of such Mining Property or this NSR Agreement agrees in advance in writing in favour of the Holder to be bound by and subject to the terms of this NSR Agreement in the event it takes possession of or forecloses on all or part of such Mining Property and acknowledges that the Holder shall be entitled to receive the Production Royalty payments to which it is entitled hereunder in priority to any payments to such mortgagee, chargee, lessee, assignee or encumbrancer and undertakes to obtain an agreement in writing in favour of the Holder from any subsequent purchaser, lessee, assignee or transferee of such mortgagee, chargeholder, lessee or encumbrancer that such subsequent purchaser, lessee, assignee or transferee will be bound by the terms of this NSR Agreement including, without limitation, this Section14Section 14; and (d) any royalty or other similar interest in or to such Mining Property, or in and to any MineralsProducts, granted by the Owner after the date hereof, shall contain a term to the effect that no payment thereof, in cash or in product in kind, shall be made until the Production Royalty hereunder has been paid in full for the relevant time period.

Transfer by Owner. (a) The Owner shall be entitled to assign, sell, transfer, lease, mortgage, charge or otherwise encumber any or dispose of the Mining Property or the Minerals in situ, or any parts thereof, or the proceeds thereof thereof, and its rights and obligations under this NSR Agreement, provided the following conditions are satisfied, and upon such conditions being satisfied in respect of any such assignment, sale or transfer only (but not in respect of any such lease, mortgage, charge or other encumbrance), and subject to the provision of Section 19.3 belowtransfer, the Owner shall be released from all its obligations under this NSR Agreement:Agreement corresponding to its proportionate interest in the Property so sold, transferred or otherwise disposed of, other than by way of security interest only, (ai) any purchaser, transferee, lessee or assignee of such Mining the Property or this NSR Agreement agrees in advance in writing in favour of the Holder to be bound by the terms of this NSR Agreement including, without limitation, this Section 14 and the indemnity provisions set out in Section 17 of this NSR Agreement13; (bii) any purchaser, transferee or assignee of this NSR Agreement has simultaneously acquired the Owner’s right, title and interest in and to such Mining Property;the Property or the Minerals in situ, or part thereof; and (ciii) any mortgagee, chargee, lesseexxxxxx, assignee or encumbrancer of such Mining the Property or this NSR Agreement agrees in advance in writing in favour of the Holder to be bound by and subject to the terms of this NSR Agreement in the event it takes possession of or forecloses on all or part of such Mining the Property and acknowledges that the Holder shall be entitled to receive the Royalty payments to which it is entitled hereunder in priority to any payments to such mortgagee, chargee, lessee, assignee or encumbrancer and undertakes to obtain an agreement in writing in favour of the Holder from any subsequent purchaser, lessee, assignee or transferee of such mortgagee, chargeholder, lessee or encumbrancer that such subsequent purchaser, lessee, assignee or transferee will be bound by the terms of this NSR Agreement including, without limitation, this Section14; andSection 13. (db) any royalty For greater certainty, the Holder hereby acknowledges that it has no right, title or other similar interest in or to such Mining Property, or in and to any Minerals, granted by the Owner after surface rights of the date hereof, shall contain a term to the effect that no payment thereof, in cash or in product in kind, shall be made until the Royalty hereunder has been paid in full for the relevant time periodProperty.

Transfer by Owner. The Owner shall be entitled to assign, sell, transfer, lease, mortgage, charge or otherwise encumber any of the Mining Property or the Minerals or the proceeds thereof from the Minerals and its rights and obligations under this NSR Agreement; provided, provided however, the following conditions are satisfiedsatisfied and, and upon such conditions being satisfied in respect of any such assignment, sale or transfer only (but not in respect of any such leaseand, mortgage, charge or other encumbrance), and subject to the provision of Section 19.3 below22(c), only the Owner shall be released from all obligations under this NSR Agreement: (a) any purchaser, transferee, lessee or assignee of such Mining the Property or this NSR Agreement agrees in advance in writing in favour of the Holder to be bound by the terms of this NSR Agreement includingAgreement, without limitation, including this Section 14 17 and the indemnity provisions set out in Section 17 of this NSR Agreement20; (b) any purchaser, transferee transferee, lessee or assignee of this NSR Agreement has simultaneously acquired the Owner’s right, title and interest in and to such Mining the Property; (c) any mortgagee, chargee, lessee, assignee or encumbrancer of such Mining the Property or this NSR Agreement agrees in advance in writing in favour of the Holder to be bound by and subject to the terms of this NSR Agreement in the event if it takes possession of or forecloses on all or part of such Mining the Property and acknowledges that the Holder shall be entitled to receive the Royalty payments to which it is entitled hereunder under this Agreement in priority to any payments to such mortgagee, chargee, lessee, assignee or encumbrancer and undertakes to obtain an agreement in writing in favour of the Holder from any subsequent purchaser, lessee, assignee or transferee of such mortgagee, chargeholder, lessee or encumbrancer that such subsequent purchaser, lessee, assignee or transferee will be bound by the terms of this NSR Agreement includingAgreement, without limitation, including this Section14Section 17; and (d) any royalty or other similar interest in or to such Mining Property, the Property or in and to any Minerals, Minerals granted by the Owner after the date hereof, of this Agreement shall contain a term to the effect that no payment thereofpayment, in cash or in product in kind, shall be made until the Royalty hereunder granted under this Agreement has been paid in full for the relevant time period.