Common use of AREA OF COMMON INTEREST Clause in Contracts

AREA OF COMMON INTEREST. ‌ 7.1 If at any time during the term of this Agreement, Optionor or an Affiliate of Optionor acquires, directly or indirectly, any interest in any property which is all or partly within two kilometres of the outermost boundary of the Property (the "AOI Property"), then Optionor or its Affiliate, as applicable, must disclose the acquisition (including all costs and information it has relating to the AOI Property) promptly to Optionee, and Optionee may, by notice to Optionor or its Affiliate, as applicable, within thirty days of receipt of notice of the acquisition, elect to include the AOI Property within the Property. 7.2 If Optionee elects to include the AOI Property as part of the Property in accordance with this ARTICLE 7, then the acquisition costs of the AOI Property will, upon verification by Optionee, be reimbursed to Optionor, and such AOI Property will be included as part of the Property without the payment of any additional consideration by the Optionee.

AREA OF COMMON INTEREST. ‌ 7.1 10.1 If at any time during the term of this Agreement, Optionor or an Affiliate affiliate of Optionor acquires, directly or indirectly, any interest in any property which is all or partly within two kilometres of the outermost boundary of the Property (the "AOI Property"), then Optionor or its Affiliateaffiliate, as applicable, must disclose the acquisition (including all costs and information it has relating to the AOI Property) promptly to Optionee, and Optionee may, by notice to Optionor or its Affiliateaffiliate, as applicable, within thirty days of receipt of notice of the acquisition, elect to include the AOI Property within the Property.Property.‌ 7.2 10.2 If Optionee elects to include the AOI Property as part of the Property in accordance with this ARTICLE 7Section 10.1, then the acquisition costs of the AOI Property will, upon verification by Optionee, be reimbursed to Optionor, and such AOI Property will be included as part of the Property without the payment of any additional consideration by the Optionee.