Common use of Work Requirement Clause in Contracts

Work Requirement. Optionee will perform at least $25,000 worth of work on the "Property" during the first year and at least $50,000 worth of work on the property each year thereafter for so long as the Option is in effect. The dollar value of production, Royalty paid can be counted as "work". All Monies spent may be used as a credit towards future years

Work Requirement. Optionee will perform at least $25,000 worth of work on the "Property" during the first year and at least $50,000 worth of work on the property each year thereafter for so long as the Option is in effect. The dollar value of production, production Royalty paid can be counted as "work"”. All Monies spent monies expended may be used as a credit credited towards future years.