Common use of Acknowledgements and Consents Clause in Contracts

Acknowledgements and Consents. Each Creditor: (a) acknowledges and consents to the Obligors having entered into the Transaction Documents; (b) acknowledges and consents to the Obligors having granted to the Sprott Security Agent, Security Interests in the Collateral pursuant to the Sprott Security Documents; and (c) consents to the Obligors granting to the Note Purchaser, Security Interests in the Collateral pursuant to the Note Purchase Security Documents; (d) consents to the Obligors granting to Teck, Security Interests in the Collateral pursuant to the Teck Security Documents; (e) consents to the Obligors granting to the Subordinated Creditor, Security Interests in some of the Collateral pursuant to the Subordinated Security Documents; and (f) acknowledges and agrees that (i) the Sprott Royalty constitutes a real property interest in the Royalty Property and a covenant running with the land and burdening the Royalty Property, and (ii) the Sprott Royalty cannot be vested out of the Royalty Property in any Creditor Proceeding except with the prior written consent of the Sprott Royalty Holder.