Common use of Property Acquisitions Clause in Contracts

Property Acquisitions. a. Any interest or right to acquire any interest in real property (including royalty interests) within the Area of Interest acquired during the term of this Agreement or of the Joint Venture Agreement (during or following Golden Aria’ earn-in period) by or on behalf of either Party, or any Affiliate, shall be subject to the right of the other Party to make such acquired interests or rights subject to this Agreement or the Joint Venture Agreement, as the case may be, within a thirty (30) day election notice provision. The election by such other Party shall be subject to payment by such Party of a portion of the acquisition costs in proportion to its Participating Interest (except to the extent such acquisition costs, if incurred by Golden Aria, are included as part of Golden Aria’ Earn-In Obligation). Any interest or right acquired by the Operator within the Area of Interest pursuant to an approved Program and Budget shall automatically become subject to the Joint Venture Agreement. b. If any Property or rights are abandoned by the Parties, any re-acquisition of such abandoned Property or rights shall be subject to the provision of Section 3.12(a) c. The rights and obligations of the Parties under this Section 3.12 shall terminate upon termination of this Agreement. However, if Golden Aria terminates the Agreement through election or default prior to fulfilling its Earn-In Obligation, Golden Aria or any Affiliate of Golden Aria shall not acquire any interest or rights within the Area of Interest for a period of one (1) year from the date of Golden Aria’ termination.

Property Acquisitions. a. Any interest or right to acquire any interest in real property (including royalty interests) within the Area of Interest acquired during the term of this Agreement or of the Joint Venture Agreement (during or following Golden Aria’ ' earn-in period) by or on behalf of either Party, or any Affiliate, shall be subject to the right of the other Party to make such acquired interests or rights subject to this Agreement or the Joint Venture Agreement, as the case may be, within a thirty (30) day election notice provision. The election by such other Party shall be subject to payment by such Party of a portion of the acquisition costs in proportion to its Participating Interest (except to the extent such acquisition costs, if incurred by Golden Aria, are included as part of Golden Aria’ ' Earn-In Obligation). Any interest or right acquired by the Operator within the Area of Interest pursuant to an approved Program and Budget shall automatically become subject to the Joint Venture Agreement. b. If any Property or rights are abandoned by the Parties, any re-acquisition of such abandoned Property or rights shall be subject to the provision of Section 3.12(a) c. The rights and obligations of the Parties under this Section 3.12 shall terminate upon termination of this Agreement. However, if Golden Aria terminates the Agreement through election or default prior to fulfilling its Earn-In Obligation, Golden Aria or any Affiliate of Golden Aria shall not acquire any interest or rights within the Area of Interest for a period of one (1) year from the date of Golden Aria’ ' termination.