Common use of Reacquisition Clause in Contracts

Reacquisition. If any Properties are abandoned or surrendered under the provisions of this Article 14, then, unless this Agreement is earlier terminated, no Participant (except a Participant that has objected to an abandonment or surrender) or any Affiliate thereof shall acquire any interest in such Properties for a period of one year following the date of such abandonment or surrender. If a Participant reacquires any Properties in violation of this Section 14.2, the other Participants may elect by Notice to the reacquiring Participant within 45 days after actual Notice of such reacquisition, to have such properties made subject to the terms of this Agreement. In the event such an election is made, the acquired properties are included in the Properties. The reacquiring Participant shall solely bear all costs of reacquisition and such costs are not included for purposes of calculating the Participants' respective Participating Interests.

Appears in 1 contract

Samples: Joint Venture Agreement

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Reacquisition. If any Properties are Property is abandoned or surrendered under the provisions of this Article 1413, then, unless this Agreement is earlier terminated, no Participant (except a Participant that has objected to an abandonment or surrender) or nor any Affiliate thereof shall acquire any interest in in--such Properties Property for a period of one year following the date of such abandonment or surrender. If a Participant reacquires any Properties Property in violation of this Section 14.213.02, the other Participants Participant may elect by Notice notice to the reacquiring Participant within 45 days after actual Notice notice of such reacquisition, to have such properties made subject to the terms of this Agreement. In the event such an election is made, the acquired properties are included in shall thereafter be treated as Property, and the Properties. The reacquiring Participant shall solely bear all costs of reacquisition shall be borne solely by the reacquiring Participant and such costs are shall not be included for purposes of calculating the Participants' Participant's respective Participating Interests.

Appears in 1 contract

Samples: Option Agreement (Fronteer Development Group)

Reacquisition. If any Properties are abandoned or surrendered under the provisions of this Article Section 14, then, unless this Agreement is earlier terminated, no Participant (except a Participant that has objected to an abandonment or surrender) or nor any Affiliate thereof shall acquire any interest in such Properties for a period of one year following the date of such abandonment or surrender. If a Participant reacquires any Properties in violation of this Section 14.2, the other Participants may elect by Notice notice to the reacquiring Participant within 45 days after actual Notice notice of such reacquisition, to have such properties made subject to the terms of this Agreement. In the event such an election is made, the acquired properties are included in shall thereafter be treated as Properties, and the Properties. The reacquiring Participant shall solely bear all costs of reacquisition shall be borne solely by the reacquiring Participant and such costs are shall not be included for purposes of calculating the Participants' respective Participating Interests.

Appears in 1 contract

Samples: Option Agreement (Radius Gold Inc.)

Reacquisition. If any Properties are Property is abandoned or surrendered under the provisions of this Article 1413, then, unless this Agreement is earlier terminated, no Participant (except a Participant that has objected to an abandonment or surrender) or nor any Affiliate thereof shall acquire any interest in such Properties Property for a period of one year following the date of such abandonment or surrender. If a Participant reacquires any Properties Property in violation of this Section 14.213.02, the other Participants Participant may elect by Notice notice to the reacquiring Participant within 45 days after actual Notice notice of such reacquisition, to have such properties made subject to the terms of this Agreement. In the event such an election is made, the acquired properties are included in shall thereafter be treated as Property, and the Properties. The reacquiring Participant shall solely bear all costs of reacquisition shall be borne solely by the reacquiring Participant and such costs are shall not be included for purposes of calculating the Participants' Participant's respective Participating Interests.

Appears in 1 contract

Samples: Joint Venture Agreement (Fronteer Development Group Inc)

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Reacquisition. If any Properties are abandoned or surrendered under the provisions of this Article 14, then, unless this Agreement is earlier terminated, no neither Participant (except a Participant that has objected to an abandonment or surrender) or nor any Affiliate thereof shall acquire any interest in such Properties or a right to acquire such Properties for a period of one year two years following the date of such abandonment or surrender. If a Participant or an Affiliate thereof reacquires any Properties in violation of this Section 14.214.02, the other Participants Participant may elect by Notice notice to the reacquiring Participant or Affiliate within 45 days after it has actual Notice notice of such reacquisition, to have such properties made subject to the terms of this Agreement. In the event such an election is made, the acquired reacquired properties are included in shall thereafter be treated as Properties, and the Properties. The reacquiring Participant shall solely bear all costs of reacquisition shall be borne solely by the reacquiring Participant and such costs are shall not be included for purposes of calculating the Participants' respective Participating Interests.

Appears in 1 contract

Samples: Mining Venture Agreement (Teryl Resources Corp)

Reacquisition. If any Properties are part of the Property is abandoned or surrendered under the provisions of this Article 14, then, unless this Agreement is earlier terminated, no Participant (except a Participant that has objected to an abandonment or surrender) or nor any Affiliate thereof shall acquire any interest in such Properties Property for a period of one year three years following the date of such abandonment or surrender. If a Participant reacquires any Properties Property in violation of this Section 14.2, the other Participants Participant may elect by Notice notice to the reacquiring Participant within 45 days after actual Notice notice of such reacquisition, to have such properties made subject to the terms of this Agreement. In the event such an election is made, the acquired properties are included in shall thereafter be treated as the Properties. The reacquiring Participant shall solely bear all Property, and the costs of reacquisition shall be borne solely by the reacquiring Participant and such costs are shall not be included for purposes of calculating the Participants' Participant’s respective Participating InterestsInterest.

Appears in 1 contract

Samples: Option Agreement

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