Covenants Exclusivity Clause Samples

Covenants Exclusivity. Throughout the Option Term, Optionor shall: (a) maintain the Option Property in its existing condition and not make any major removals, alterations, or changes thereto, except as may be required by this Agreement or by law or as may be necessary for purposes of obtaining bond and/or permit releases; (b) promptly deliver to Optionee copies of any notice received regarding the Option Property, including, without limitation, use, possession, occupancy, casualty, environmental, condemnation, lawsuits, and zoning changes; (c) waive any rights to and shall not develop the minerals in, on, and under the Option Property; and (d) except as otherwise set forth in this Agreement, continue to operate the Option Property in substantially the same manner as it is currently being operated by Optionor. During the Option Term, Optionor shall not market, sell, lease, transfer, grant, convey, assign, mortgage, or otherwise encumber the Option Property without Optionee’s prior written consent.