Delayed Transfer. Where it is not possible under the Mining Act to transfer the Tenement Applications, then from Completion the Seller will hold the Tenement Applications for the benefit of each of the Seller and the Buyer as tenants in common in equal shares and upon grant of a tenement pursuant to the relevant application (Granted Tenement) the Seller and Buyer shall do all things necessary to transfer a 50% legal interest in the Granted Tenement to the Buyer and have that transfer registered under the Mining Act.
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