OPTION ONLY. This is an option only and except as specifically provided otherwise, nothing herein contained shall be construed as obligating the Optionee to do any acts or make any payments hereunder and any act or acts, or payment or payments as shall be made hereunder shall not be construed as obligating the Optionee to do any further act or make any further payment. If the Option is terminated before the Option is exercised, the Optionee shall not be bound thereafter in debt, damages or otherwise under this Agreement, except in respect of obligations arising prior to such termination or otherwise provided for in this Agreement, and all payments theretofore paid by the Optionee shall be retained by the Optionor for its own use absolutely.
OPTION ONLY. This is an option only and except as herein specifically provided otherwise, nothing herein contained shall be construed as obligating the Optionee to do any acts or make any payments hereunder, and any act or acts or payment or payments as shall be made hereunder shall not be construed as obligating the Optionee to do any further act or make any further payment or payments.
OPTION ONLY. 22.1 This Agreement provides for an option only, and except as specifically provided otherwise, nothing herein contained shall be construed as obligating the Optionee to do any acts or make any payments hereunder and any act or acts or payment or payments as shall be made hereunder shall not be construed as obligating the Optionee to do any further act or make any further payment.
OPTION ONLY. 6. Nothing herein contained or done pursuant hereto shall obligate the Optionee to purchase and/or pay for any shares of the Company, except those shares in respect of which the Optionee shall have exercised all or any part of the Option granted hereunder.
OPTION ONLY. 2.1 This Option Agreement represents an option only, and after the Optionee has delivered to the Optionor the consideration set out in clause 1.02(a), the Optionee shall be under no further obligation to the Optionor and may discontinue its option in respect of the Properties at any time by giving notice of discontinuance to the Optionor. No act done or payment made by the Optionee hereunder shall obligate the Optionee to do any further act or make any further payment.
OPTION ONLY. Until the Option is exercised, this is an option only and except as specifically provided otherwise, nothing herein contained shall be construed as obligating [Placer] to do any acts or make any payments hereunder and any act or acts or payments made hereunder shall not be construed as obligating [Placer] to do any further acts or make any further payments.
OPTION ONLY. For greater certainty, under this Agreement the Optionee has acquired an option only and all Expenditures and the delivery of a Feasibility Study are entirely at the discretion of the Optionee.
OPTION ONLY. 15.1 Until the Option is exercised, this is an option only and except as specifically provided otherwise, nothing herein contained shall be construed as obligating MAX to do any acts or make any payments hereunder and any acts or payments made hereunder shall not be construed as obligating MAX to do any further acts or make any further payments.
OPTION ONLY. This Agreement provides for an option only and except as specifically provided otherwise, nothing herein contained shall be construed as creating a partnership arrangement between the parties or be construed as obligating the Optionee to do any acts or make any payments hereunder except as otherwise set forth, and any act or acts or payment or payments as may be made hereunder shall not be construed as obligating the Optionee to do any further act or make any further payment or payments.
OPTION ONLY. 2.01 This agreement represents an option only, and after the Optionee is paid the US$50,000 (fifty thousand US Dollars) or the equivalent in Guyana Dollars specified in 1.01 (a), issued 4,000,000 shares of the Optionee’s Company, has incurred exploration expenditures totalling US$500,000 within 3 years and has funded the license rental fees, posted performance bonds and funded and reported minimum evaluations to the GGMC, the Optionee shall be under no further obligation to issue any more shares or pay any more cash to the Optionor. Any further performance hereunder by the Optionee is expressly at the election of the Optionee.
