Common use of Maintenance of the Property Clause in Contracts

Maintenance of the Property. BUYER shall pay all governmental taxes, duties or other payments, make any minimum investments required by law, perform all acts and comply with all obligations under applicable law required to maintain the Property (excluding those portions of the Property previously abandoned by it as provided in this section) in good standing. At any time and from time to time, BUYER may elect to abandon any part or parts of the Property by giving notice to NEWMONT of such election not less than thirty (30) days prior to the proposed date of abandonment. The notice shall identify the Mining Leases (or other interests acquired within the Area of Interest) which are proposed to be abandoned. Upon expiry of such thirty (30) day period, BUYER's obligations hereunder in respect of such abandoned interests shall terminate and thereafter the term "Property" as used in this Agreement will apply to those interests comprising the Property which have not been abandoned by BUYER. If requested by NEWMONT BUYER shall execute documents transferring to NEWMONT title to any part or parts of the Property which BUYER is abandoning, provided, however, if TOTAL also requests such transfer BUYER shall transfer a Fifty-One percent (51%) interest in such title to NEWMONT. In the event that BUYER gives notice that it intends to abandon the balance of the Property held by it then, subject to section 5 hereof, upon expiry of the thirty (30) day period BUYER's obligations to make either of the Additional Cash Payments not due before expiry of such thirty (30) day period shall terminate.

Maintenance of the Property. BUYER Subsequent to Closing, SEABRIDGE shall pay all governmental taxes, duties or other payments, make any minimum investments required by law, perform all acts and comply with all obligations under applicable law required to maintain the Property (excluding those portions of the Property previously abandoned by it as provided in this section) in good standing. At any time and from time to time, BUYER SEABRIDGE may elect to abandon any part or parts of the Property by giving notice to NEWMONT and TOTAL of such election not less than thirty (30) days prior to the proposed date of abandonment. The notice shall identify the Mining Leases (or other interests acquired within the Area of Interest) which are proposed to be abandoned. Upon expiry of such thirty (30) day period, BUYERSEABRIDGE's obligations hereunder in respect of such abandoned interests shall terminate and thereafter the term "Property" as used in this Agreement will apply to those interests comprising the Property which have not been abandoned by BUYERSEABRIDGE. If requested by either of NEWMONT BUYER and/or TOTAL, SEABRIDGE shall execute documents transferring to NEWMONT and/or TOTAL, as the case may be, title to any part or parts of the Property which BUYER SEABRIDGE is abandoning, provided, however, if TOTAL also requests such transfer BUYER shall transfer a Fifty-One percent (51%) interest in such title to NEWMONT. In the event that BUYER SEABRIDGE gives notice that it intends to abandon the balance of the Property held by it then, subject to section 5 6 hereof, upon expiry of the thirty (30) day period BUYERSEABRIDGE's obligations to make either of the Additional Cash Payments not due before expiry of such thirty (30) day period shall terminate.

Maintenance of the Property. BUYER SEABRIDGE shall pay all governmental taxes, duties or other payments, make any minimum investments required by law, perform all acts and comply with all obligations under applicable law required to maintain the Property (excluding those portions of the Property previously abandoned by it as provided in this section) in good standing. At any time and from time to time, BUYER SEABRIDGE may elect to abandon any part or parts of the Property by giving notice to NEWMONT and TOTAL of such election not less than thirty (30) days prior to the proposed date of abandonment. The notice shall identify the Mining Leases (or other interests acquired within the Area of Interest) which are proposed to be abandoned. Upon expiry of such thirty (30) day period, BUYERSEABRIDGE's obligations hereunder in respect of such abandoned interests shall terminate and thereafter the term "Property" as used in this Agreement will apply to those interests comprising the Property which have not been abandoned by BUYERSEABRIDGE. If requested by either of NEWMONT BUYER and/or TOTAL, SEABRIDGE shall execute documents transferring to NEWMONT and/or TOTAL, as the case may be, title to any part or parts of the Property which BUYER SEABRIDGE is abandoning, provided, however, if TOTAL also requests such transfer BUYER shall transfer a Fifty-One percent (51%) interest in such title to NEWMONT. In the event that BUYER SEABRIDGE gives notice that it intends to abandon the balance of the Property held by it then, subject to section 5 hereof, upon expiry of the thirty (30) day period BUYERSEABRIDGE's obligations to make either of the Additional Cash Payments not due before expiry of such thirty (30) day period shall terminate.

Maintenance of the Property. BUYER shall pay all governmental taxes, duties or other payments, make any minimum investments required by law, perform all acts and comply with all obligations under applicable law required to maintain the Property (excluding those portions of the Property previously abandoned by it as provided in this section) in good standing. At any time and from time to time, BUYER may elect to abandon any part or parts of the Property by giving notice to NEWMONT TOTAL of such election not less than thirty (30) days prior to the proposed date of abandonment. The notice shall identify the Mining Leases (or other interests acquired within the Area of Interest) which are proposed to be abandoned. Upon expiry of such thirty (30) day period, BUYER's obligations hereunder in respect of such abandoned interests shall terminate and thereafter the term "Property" as used in this Agreement will apply to those interests comprising the Property which have not been abandoned by BUYER. If requested by NEWMONT TOTAL BUYER shall execute documents transferring to NEWMONT TOTAL title to any part or parts of the Property which BUYER is abandoning, provided, however, if TOTAL NEWMONT also requests such transfer BUYER shall transfer a FiftyForty-One Nine percent (5149%) interest in such title to NEWMONTTOTAL. In the event that BUYER gives notice that it intends to abandon the balance of the Property held by it then, subject to section 5 hereof, upon expiry of the thirty (30) day period BUYER's obligations to make either of the Additional Cash Payments not due before expiry of such thirty (30) day period shall terminate.