Common use of Areas of Interest Clause in Contracts

Areas of Interest. Seller and Buyer acknowledge that Seller owns additional mining properties within the vicinity of the Subject Property, and within the boundaries of the area designated as the ▇▇▇▇▇▇ Area of Interest, or “▇▇▇▇▇▇ AOI” as identified on Exhibit C attached hereto (the “▇▇▇▇▇▇ AOI”), and Seller intends to continue to pursue mining development within the ▇▇▇▇▇▇ AOI. As a condition to the Closing of the transaction contemplated by this Agreement, and the transfer of the Subject Property from Seller to Buyer, Seller and Buyer agree as follows: (a) Following the Closing Date, and for so long thereafter as Seller, or its successors or assigns, owns mining property interests within the ▇▇▇▇▇▇ AOI, up to a maximum of [***] years after the Closing Date, Buyer and its affiliates may stake or acquire mining property interests within the boundary of the ▇▇▇▇▇▇ AOI as identified on Exhibit C attached hereto, provided that Buyer and its affiliates act in accordance with the procedure described in sub-section (c) below. (b) Following the Closing Date, and for so long thereafter as Buyer, or its successors or assigns, owns the Subject Property, up to a maximum of four and one-half (41/2) years after the Closing Date, Seller and its affiliates may stake or acquire mining property interests within the boundary of the “HPX AOI” identified on Exhibit C attached hereto, provided that Seller and its affiliates act in accordance with the procedure described in sub-section (c) below. (c) Seller and Buyer agree that if either party or its affiliates (the “Acquiring Party”) stakes or acquires mining property interests in the other party’s AOI, then the Acquiring Party shall give written notice within thirty (30) days after such event to the other party or its affiliates (the “Other Party”). The Other Party shall have ninety (90) days from the date of that notice within which to acquire such staked or acquired mining property interests from the Acquiring Party at the same price and cost, and under the same terms, conditions and covenants, as transacted by the Acquiring Party.

Areas of Interest. Seller and Buyer acknowledge that Seller owns additional mining properties within the vicinity of the Subject Property, and within the boundaries of the area designated as the ▇▇▇▇▇▇ Area of Interest, or “▇▇▇▇▇▇ AOI” as identified on Exhibit C attached hereto (the “▇▇▇▇▇▇ AOI”), and Seller intends to continue to pursue mining development within the ▇▇▇▇▇▇ AOI. As a condition to the Closing of the transaction contemplated by this Agreement, and the transfer of the Subject Property from Seller to Buyer, Seller and Buyer agree as follows: (a) Following the Closing Date, and for so long thereafter as Seller, or its successors or assigns, owns mining property interests within the ▇▇▇▇▇▇ AOI, up to a maximum of [***] years after the Closing Date, Buyer and its affiliates may stake or acquire mining property interests within the boundary of the ▇▇▇▇▇▇ AOI as identified on Exhibit C attached hereto, provided that Buyer and its affiliates act in accordance with the procedure described in sub-section (c) below. (b) Following the Closing Date, and for so long thereafter as Buyer, or its successors or assigns, owns the Subject Property, up to a maximum of four and one-half (41/2) [***] years after the Closing Date, Seller and its affiliates may stake or acquire mining property interests within the boundary of the “HPX AOI” identified on Exhibit C attached hereto, provided that Seller and its affiliates act in accordance with the procedure described in sub-section (c) below. (c) Seller and Buyer agree that if either party or its affiliates (the “Acquiring Party”) stakes or acquires mining property interests in the other party’s AOI, then the Acquiring Party shall give written notice within thirty (30) days after such event to the other party or its affiliates (the “Other Party”). The Other Party shall have ninety (90) days from the date of that notice within which to acquire such staked or acquired mining property interests from the Acquiring Party at the same price and cost, and under the same terms, conditions and covenants, as transacted by the Acquiring Party.