Common use of Mineral Properties Clause in Contracts

Mineral Properties. Except as disclosed in the Company Disclosure Letter, (a) each of the Company and its Subsidiaries is the absolute legal and beneficial owners of, and has good and marketable title to its material assets (except where such assets are leased, licensed or otherwise held pursuant to a lesser interest), free and clear of all liens, charges and Encumbrances; (b) each of the Company and its Subsidiaries holds either freehold title, mining leases, mining claims or other conventional property, proprietary or contractual interests or rights including interests and rights under option and/or joint venture agreements, recognized in the jurisdiction in which a particular material property is located, in respect of the ore bodies and minerals located in material properties in which it has an interest under valid, subsisting and enforceable title documents or other recognized and enforceable agreements or instruments sufficient to permit it to explore the minerals relating thereto, all such material property, leases or claims and all material property, leases or claims in which it has any interest or right have been validly located and recorded in accordance with all applicable laws and are valid and subsisting, it has all necessary surface rights, access rights and other necessary rights and interests relating to the material properties in which it has an interest granting it the right and ability to explore for minerals, ore and metals for development purposes as are appropriate in view of the rights and interest therein of it, with only such exceptions as do not materially interfere with the use made by it of the rights or interests so held, and each of the proprietary interests or rights and each of the documents, agreements and instruments and obligations relating thereto referred to above is currently in good standing in the name of the Company or its Subsidiaries, as applicable; (c) neither the Company nor its Subsidiaries has any responsibility or obligation to pay or have paid on its behalf any material commission, royalty or similar payment to any person with respect to its material property rights as of the date hereof; (d) the most recent estimated inferred mineral resources of the Company disclosed in the Company Disclosure Documents have been prepared and disclosed in all material respects in accordance with all applicable Laws. There has been no material reduction in the aggregate amount of estimated mineral reserves and estimated mineral resources of the Company and its Subsidiaries from the amounts disclosed publicly by the Company; (e) all exploration and development activities have been undertaken in accordance with good exploration and development practices and in compliance with all applicable Laws.

Mineral Properties. Except as disclosed the Land, the Mineral Interests, and all record title interests, operating rights, fee mineral interests, leasehold interests, mineral servitudes, profits a prendre, mineral royalties, term mineral interests, subleases, royalties, overriding royalties, net profits interests, production payments and similar interests or estates described in Exhibit A attached hereto, or described in the Company Disclosure Letterinstruments described in Exhibit A, and made a part hereof for all purposes including the net revenue interests warranted on such Exhibit A and any “back-in, (a) each ” any reversionary or carried interests relating to any of the Company and its Subsidiaries is the absolute legal and beneficial owners of, and has good and marketable title to its material assets (except where such assets are leased, licensed or otherwise held pursuant to a lesser interest), free and clear of all liens, charges and Encumbrances; foregoing; (b) each all production units, and drilling and spacing units (and the Property covered thereby) which may affect all or any portion of such interests including those units which may be described or referred to on Exhibit A and any units created by agreement or designation or under orders, regulations, rules or other official acts of any Federal, state or other governmental body or agency having jurisdiction; (c) the surface interests described in Exhibit A attached hereto and made part hereof for all purposes; (d) any and all present and future interests owned or held by, or otherwise benefiting, Trustor and arising out of, or pursuant to, any of the Company Contracts; (e) any other present and its Subsidiaries holds either freehold titlefuture interest in, mining leasesto or relating to (i) all or any part of the land described in Exhibit A, mining claims the land relating to, or other conventional propertydescribed in, proprietary the instruments set forth in Exhibit A or contractual interests or rights including interests and rights under option and/or joint venture agreements, recognized in the jurisdiction documents described in which a particular material property is locatedExhibit A, in respect of the ore bodies and minerals located in material properties in which it has an interest under validincluding, subsisting and enforceable title documents or other recognized and enforceable agreements or instruments sufficient to permit it to explore the minerals relating theretowithout limitation, all such material property, leases or claims and all material property, leases or claims in which it has any interest or right have been validly located and recorded in accordance with all applicable laws and are valid and subsisting, it has all necessary surface rights, access rights and other necessary rights and interests relating to of Trustor in all present and future rights-of-way, easements and servitudes whether or not described in Exhibit A and located on or related the material properties in which it has an interest granting it the right and ability to explore for mineralsMinerals or Mineral Properties, ore and metals for development purposes as are appropriate in view or (ii) any of the estates, property rights and interest therein of itor other interests referred to above; (f) any instrument executed in amendment, with only such exceptions as do not materially interfere with the use made by it correction, modification, confirmation, renewal or extension of the rights same; and (g) all tenements, hereditaments and appurtenances now existing or interests so held, and each hereafter obtained in connection with any of the proprietary interests or aforesaid, including any rights and each of the documentsarising under orders, agreements and instruments and obligations relating thereto referred to above is currently in good standing in the name of the Company or its Subsidiaries, as applicable; (c) neither the Company nor its Subsidiaries has any responsibility or obligation to pay or have paid on its behalf any material commission, royalty or similar payment to any person with respect to its material property rights as of the date hereof; (d) the most recent estimated inferred mineral resources of the Company disclosed in the Company Disclosure Documents have been prepared and disclosed in all material respects in accordance with all applicable Laws. There has been no material reduction in the aggregate amount of estimated mineral reserves and estimated mineral resources of the Company and its Subsidiaries from the amounts disclosed publicly by the Company; (e) all exploration and development activities have been undertaken in accordance with good exploration and development practices and in compliance with all applicable Lawsother arrangements.