Common use of Acquisition of Additional Rights Clause in Contracts

Acquisition of Additional Rights. If any surface right or other right or privilege not owned by Owner is necessary or desirable for the mining and removal of the coal contained in the Premises, Owner shall be under no obligation whatsoever to acquire the same, but Contractor may acquire the same at its own expense. Contractor shall notify Owner of such acquisition before or within thirty (30) days after such acquisition. Owner shall have the right and option at any time thereafter while this Agreement remains in effect, or within one (1) year after the termination hereof, to purchase from Contractor, at its then current fair market value, any such surface right or other right or privilege acquired by Contractor as aforesaid. If any such right or privilege is purchased by Owner prior to the termination of this Agreement, the same shall thereupon be deemed to be a part of the Premises herein contracted by Owner to Contractor and shall be subject to all provisions of this Agreement and without payment of consideration other than as herein specified.