Common use of Abandonment of Property Clause in Contracts

Abandonment of Property. 14.1 Subject to Section 14.2, should the Optionee, in its sole discretion, determine that some but not all of the Property no longer warrant further exploration and development or for any such other reason that the Optionee determines that it no longer want to further explore and develop some but not all of the Property (the “Abandoned Property”), then the Optionee may abandon such Abandoned Property, so long as the Optionee provides the Optionors with at least 60 day’s notice of its intention to so abandon such property and, if the Optionors then provides within 20 days of the receipt of the notice from the Optionee, a written request that the Optionee transfer such Abandoned Property to the Optionors (the “Transfer Request”), then the Optionee shall forthwith provide a recordable transfer of such Abandoned Property to the Optionors.

Abandonment of Property. 14.1 Subject to Section 14.2, should the Optionee, in its sole discretion, determine that some but not all of the Property no longer warrant further exploration and development or for any such other reason that the Optionee determines that it no longer want to further explore and develop some but not all of the Property (the “Abandoned Property”), then the Optionee may abandon such Abandoned Property, so long as the Optionee provides the Optionors with at least 60 day’s days notice of its intention to so abandon such property and, if the Optionors then provides within 20 days of the receipt of the notice from the Optionee, a written request that the Optionee transfer such Abandoned Property to the Optionors (the “Transfer Request”), then the Optionee shall forthwith provide a recordable transfer of such Abandoned Property to the Optionors.

Abandonment of Property. 14.1 Subject to Section 14.2, should the Optionee, in its sole discretion, determine that some but not all of the Property no longer warrant further exploration and development or for any such other reason that the Optionee determines that it no longer want to further explore and develop some but not all of the Property (the “Abandoned Property”), then the Optionee may abandon such Abandoned Property, so long as the Optionee provides the Optionors Optionor with at least 60 day’s days notice of its intention to so abandon such property and, if the Optionors Optionor then provides within 20 days of the receipt of the notice from the Optionee, a written request that the Optionee transfer such Abandoned Property to the Optionors Optionor (the “Transfer Request”), then the Optionee shall forthwith provide a recordable transfer of such Abandoned Property to the OptionorsOptionor.

Abandonment of Property. 14.1 Subject to Section 14.2, should the Optionee, in its sole discretion, determine that some but not all of the Property no longer warrant further exploration and development or for any such other reason that the Optionee determines that it no longer want to further explore and develop some but not all of the Property (the “"Abandoned Property”"), then the Optionee may abandon such Abandoned Property, so long as the Optionee provides the Optionors Optionor with at least 60 day’s days notice of its intention to so abandon such property and, if the Optionors Optionor then provides within 20 days of the receipt of the notice from the Optionee, a written request that the Optionee transfer such Abandoned Property to the Optionors Optionor (the “"Transfer Request”"), then the Optionee shall forthwith provide a recordable transfer of such Abandoned Property to the OptionorsOptionor.