Common use of Abandonment; Mining Rights Clause in Contracts

Abandonment; Mining Rights. (a) The Borrower shall -------------------------- abandon all or any significant portion of its interest in the Mines or surrender, cancel or release, or suffer any termination or cancellation of any of its rights or interests in the Mines, other than as specifically permitted by the Loan Documents or other than as the Borrower and the Mining Consultant shall have certified to the Administrative Agent and the Lenders is not required in connection with the Project. (b) Any Person other than the Borrower shall acquire or assert a claim to Mining Rights in respect of all of any portion of properties owned or claimed under unpatented mining claims by the Borrower in connection with the Project, other than (i) Mining Rights affecting any portion of properties that are not material to the development and completion of any Mine as contemplated in the Mine Plans and (ii) such rights or claims as the Administrative Agent (in consultation with the Lenders) and the Mining Consultant determine would not have a Material Adverse Effect.

Abandonment; Mining Rights. (a) The Borrower shall -------------------------- abandon all or any significant portion of its interest in the Mines or surrender, cancel or release, or suffer any termination or cancellation of any of its rights or interests in the Mines, other than as specifically permitted by the Loan Documents or other than as the Borrower and the Mining Consultant shall have certified to the Administrative Agent, the Technical Agent and the Lenders is not required in connection with the Project. (b) Any Person other than the Borrower shall acquire or assert a claim to Mining Rights in respect of all of or any portion of properties owned or claimed under unpatented mining and millsite claims by the Borrower in connection with the Project, other than (i) Mining Rights affecting any portion of properties that are not material to the development and completion of any Mine as contemplated in the Mine Plans and (ii) such rights or claims as the Technical Agent, the Administrative Agent (in consultation with the Lenders) and the Mining Consultant determine would could not reasonably be expected to have a Material Adverse Effect.