Earn-In Option definition
Earn-In Option means the right and option granted to SGC to earn and acquire the Earned Interest as provided in Article 3. Earn-In Period means the period during which the Earn-In Option remains in effect under this Agreement.
Earn-In Option has the meaning given to such term in Section 3.02(1);
Earn-In Option and “Earn-In Period” means the terms and conditions upon which Yukon has the option to earn a 75% interest in the mineral Claims comprising the Sagar Property as described in Section 5.1;
Examples of Earn-In Option in a sentence
If ▇▇▇ fails to deliver an Ero FID Election Notice during such 60-day period, it shall be deemed to have elected not to approve the FID, in which case, the Earn-in Option shall automatically terminate and Ero will not acquire the Earn-in Interest.
For greater certainty, (i) if Vale fails to deliver a Vale FID Election Notice during such 60-day period, Ero shall be deemed to have exercised the Earn-in Option; and (ii) Vale shall have no right to request an extension to such 60-day period.