Acquisitions Within the Project Area Sample Clauses

Acquisitions Within the Project Area. If, notwithstanding the prohibition contained in Section 12.3, AfriOre (Barbados) or WB or any of their respective Affiliates, officers or directors acquire, lease or otherwise obtain or control any land, usage rights or mineral or other interests or rights within the Project Area within 5 years from the date of this Agreement, WB or AfriOre (Barbados), as the case may be, shall notify the Corporation thereof within the 30 days immediately following the date of such transaction and WB or AfriOre (Barbados), as the case may be shall (or WB or AfriOre (Barbados) shall cause its applicable Affiliate, officer or director to) convey the same to Kwagga or its nominee in the manner that the Corporation directs as soon as practicable thereafter, in consideration of the payment by Kwagga to WB, AfriOre (Barbados) or such Affiliate, officer or director, as the case may be, of an amount equal to the direct out of pocket cost of acquisition thereof or of similar land or interests from the government of the Republic of South Africa pursuant to applicable legislation in force at the time of such acquisition.