Common use of Abandonment Prior to Termination of Contract Clause in Contracts

Abandonment Prior to Termination of Contract. If Contractor recommends abandonment of facilities, assets and xxxxx prior to the termination of this Contract, Staatsolie may elect to continue using such facilities, assets and xxxxx by giving Contractor notice of such decision within four (4) Calendar Months of Staatsolie’s receipt of Contractor’s recommendation to abandon. Upon such notification, Staatsolie shall be responsible for abandoning such facilities, assets and xxxxx and shall be entitled to such funds in the Abandonment Fund accrued at the time of Staatsolie’s election necessary to abandon such facilities, assets or xxxxx, pursuant to Sub-article 29.10.