Option Lands definition

Option Lands means the lands described as such in Schedule “A”;

Option Lands means the areal, stratigraphic and substance rights described as “Option Lands” in Schedule “A” of the Agreement or so much of those rights as remain subject to the Agreement and the Title Documents, excluding any Reserved Formations;

Option Lands means the lands as described in Schedule “A”, together with the rights to explore for and recover the Petroleum Substances within, upon or under such lands, insofar only as such rights are granted by the Leases;

Examples of Option Lands in a sentence

• The Vendor has agreed to grant to the Purchaser an Option to Purchase the Option Lands pursuant to the terms, provisions and conditions set forth herein.

• This annual payment shall be made on or before the anniversary date of the first payment being made before construction is commenced, for a period of nine years (“term”), or until abandonment of the Option Lands if abandonment occurs prior to the expiration of the term.

• The Grantee and the Grantor covenant and agree that all covenants and agreements of the Grantee or the Grantor, respectively, set forth in this Agreement will survive the closing of the purchase and sale of the Option Lands and will not be merged in the Transfer.

• For clarity, Grantor forfeits any right, title or ownership to or of any property or chattels on the Option Lands (including those items listed above) if such items remain on the Option Lands following the Chattel Removal Outside Date.

• When accessing the Option Lands for the removal of such property or chattels, Grantor agrees to carry out any work in a proper and diligent manner in accordance with applicable laws and customary practice.

More Definitions of Option Lands

Option Lands means those lands that BioAmber Sarnia Inc. has an option to acquire from LANXESS Inc. pursuant to the Purchase and Sale Agreement.

Option Lands means the Woking Expansion Land, the Croydon Expansion Land and/or the Watford Expansion Land (and includes part or parts thereof);

Option Lands has the meaning set out in Recital A above;

Option Lands means the lands described in Schedule "B".

Option Lands means the portion of the Landlord’s Lands represented diagrammatically as the area outlined in red on the drawing attached as Schedule “C”, which area comprises approximately 10.92 acres.

Option Lands means lands and all Substances within upon or thereunder covered by the Title Documents (having the rights and subject to the restrictions therein) listed in Schedule "B" of this Farmout Agreement;

Option Lands means the Block A-1 Lands Rights, Encumbrances and Title Documents as set forth in Schedule “A” attached hereto and so titled, excluding Coalbed Methane;