NEVADA PROPERTIES Sample Clauses
NEVADA PROPERTIES i. At the time of execution of this document, Argus Resources, ▇▇▇▇▇▇▇ Harvey, Moran, and White Caps will convey all of their interests, including the 24.5% owned, held, or assigned to by and for Argus, in the Manhattan project including previously identified claims (para) 1(c)(i)(ii)(iii)(iv), without limitation, including entire right, title, and interest in and to any claims, leases, or other property constituting the Manhattan project.
ii. It is recognized that ▇▇▇▇▇▇▇ will need to get shareholder approval from Argus to execute the Argus portion of the agreements in (para) 2(b)(i) above.
iii. On or before December 31, 2005, ▇▇. ▇▇▇▇▇▇ will convey, help to convey, or cause others to convey the Manhattan project to Calais so that Calais will receive title to the entire right, title, and interest in and to any claims, leases, or other property constituting the Manhattan project (including, without limitation, title to the claims that are currently in the name of Argus, ▇▇▇▇▇▇▇ ▇▇▇▇▇ or his affiliates, NMMI, WCM, AAI, AEI, or Mr. and ▇▇▇. ▇▇▇▇▇▇) which, in the reasonable opinion of counsel to Calais, is marketable and which is subject to no liens, obligations, or other encumbrances except those acceptable to Calais in its sole discretion ("marketable title").
iv. In exchange for marketable title as described in the preceding paragraph 2(b)(i) and paragraph 2(b)(ii), Calais will issue to Argus 250,000 shares of Calais common stock (subject to the establishment of an exemption from the registration requirements of Canadian and US federal, provincial, and state laws).
v. Upon receipt of marketable title to the Manhattan project (and subject to the possibility that Calais may be prevented from completing any of the following activities within the time limits set forth by strikes, labor shortages, inability to comply with administrative or other regulatory or environmental requirements notwithstanding exerting reasonable efforts to do so, and other acts of God ("force majeure") (in which case the times periods set forth will each be extended by the amount of the time Calais was delayed by the force majeure event):
1. Calais will drill not less than 15,000 feet of exploration drilling within the two years following receipt of marketable title and,
2. if (following the completion of the work described in (para) 2(b)(v)
(1)) Calais determines in its sole discretion that further work is warranted, Calais will drill at least an additional 50,000 feet in the followin...
NEVADA PROPERTIES i. At the time of execution of this document, Argus Resources, ▇▇▇▇▇▇▇ Harvey, Moran, and White Caps will convey all of their interests, including the 24.5% owned, held, or assigned to by and for Argus, in the Manhattan project including previously identified claims (para) 1(c)(i)(ii)(iii)(iv), without limitation, including 6 <PAGE> entire right, title, and interest in and to any claims, leases, or other property constituting the Manhattan project.
ii. It is recognized that ▇▇▇▇▇▇▇ will need to get shareholder approval from Argus to execute the Argus portion of the agreements in (para) 2(b)(i) above. iii. On or before December 31, 2005, ▇▇. ▇▇▇▇▇▇ will convey, help to convey, or cause others to convey the Manhattan project to Calais so that Calais will receive title to the entire right, title, and interest in and to any claims, leases, or other property constituting the Manhattan project (including, without limitation, title to the claims that are currently in the name of Argus, ▇▇▇▇▇▇▇ ▇▇▇▇▇ or his affiliates, NMMI, WCM, AAI, AEI, or Mr. and ▇▇▇. ▇▇▇▇▇▇) which, in the reasonable opinion of counsel to Calais, is marketable and which is subject to no liens, obligations, or other encumbrances except those acceptable to Calais in its sole discretion ("marketable title").