Ownership Claim definition
Examples of Ownership Claim in a sentence
The specific location of the physical Gold-Containing Ore piles, or portion(s) thereof, comprising the Pre-Recycled Gold Ore Ownership Claim shall be determined by Trust in its sole and absolute discretion.
Upon physical delivery and receipt of the Certified 99.99% Pure Gold comprising the Physical Ounces of Gold in Default, Gold-Ore Owner shall automatically release its Pre-Recycled Gold Ore Ownership Claim to any remaining Pre-Recycled Gold Ore it seized lying on the surface of the Property and any unfinished and finished gold-containing material and finished Certified 99.99% Pure Gold that has been removed from the Property and is in any stage of the recycling process in offsite locations.
Gold-Ore Owner shall pay all costs of surveying and delineating the perimeter of each Pre-Recycled Gold Ore pile or portion thereof comprising the Pre-Recycled Gold Ore Ownership Claim which shall be accurately marked with wooden stakes, where each stake’s location shall be shown on the survey using industry standard metes and bounds measurements and GPS coordinates (“Survey”).
The Pre- Recycled Ore Ownership Claim as directed by Trust shall generally be a contiguous area within one or more piles of Gold-Containing Ore lying on the surface of the Property.
After termination of the Default Gold Recycling Period Gold-Ore Owner’s Pre-Recycled Gold Ore Ownership Claim shall automatically terminate and revert to Trust for any remaining Pre-Recycled Gold Ore it seized lying on the surface of the Property and any unfinished and finished gold-containing material that has been removed from the Property and is in any stage of the recycling process in offsite locations.