Common use of Grant and Exercise of Option Clause in Contracts

Grant and Exercise of Option. H▇▇▇▇▇ hereby irrevocably grants to DEL the sole and exclusive right and Option to acquire up to and including a eighthly five percent (85%) right, title, estate and interest of H▇▇▇▇▇’▇ one hundred (100%) percent net undivided interest) in and to the Property Rights and Property, free and clear of all charges, encumbrances, claims, royalties and net profit interests of whatsoever nature.

Grant and Exercise of Option. H▇▇▇▇▇ hereby irrevocably grants to DEL JRE the sole and exclusive right and Option to acquire up to and including a eighthly five percent (85%) right, title, estate and interest of H▇▇▇▇▇’▇ one hundred (100%) percent net undivided interest) in and to the Property Rights and Property, free and clear of all charges, encumbrances, claims, royalties and net profit interests of whatsoever nature.

Grant and Exercise of Option. H▇▇▇▇▇ hereby irrevocably grants to DEL HRE the sole and exclusive right and Option to acquire up to and including a eighthly five percent (85%) right, title, estate and interest of H▇▇▇▇▇’▇ one hundred (100%) percent net undivided interest) in and to the Property Rights and Property, free and clear of all charges, encumbrances, claims, royalties and net profit interests of whatsoever nature.