OPTION ONLY. 26.1 This Agreement provides for an option only and, except for the cash or other payments set out in paragraph 3.6(a) hereof, nothing herein contained will be construed as obligating Optionee to do any acts or make any payment hereunder and any act or acts or payment or payments as will be made hereunder will not be construed as obligating Optionee to do any further act or make any further payment. 26.2 The decision to proceed with the 40% Option, the 60% Option or the 80% Option will be made by the independent directors of the Board of Directors of the Optionee.
Appears in 3 contracts
Sources: Option Agreement (Colorado Goldfields Inc.), Option Agreement (Colorado Goldfields Inc.), Option Agreement (Hennis Todd C)