Additional Xxxxx Sample Clauses
Additional Xxxxx. Seller will continue to update Buyer with area developments and production statistics as requested during and the validity of this Agreement as to the Property and other opportunities made available by Seller since it is contemplated Buyer may purchase, as to additional properties beyond Exhibit A, additional Working Interests which will be priced on a per prospect basis and working interest terms and other terms as set forth herein, potentially, without guarantee, of up to $50 million in additional purchase payments to Seller. In this regard, as the parties will confirm by amendment to this Agreement, the terms hereof will apply to said additional pursuits. The potential gas xxxxx for each additional project will be discussed and agreed by both parties. Full geological reports and estimated reserve reports will be made available prior to concluding the choices. Xxxxx will be selected by Buyer from those available in the XxXxxx county area and available from Seller’s portfolio of leases containing xxxxx. Xxxxx with the highest estimates at the time will be chosen in conjunction with the recommendation from Seller in respect of ease of operation. This paragraph relates to potential future prospects.
Additional Xxxxx. If Madoff elects to continue its participation in the Well Program, the Well Program shall thereafter consist of the re-entry and completion of the Section 74, 77, 78, and 81 Xxxxx (collectively, the “Additional Xxxxx”). The drilling, re-entry and completion of the Additional Xxxxx will take place in the following order, unless Madoff determines otherwise: Xxxxx on Sections 74, 81, 78 and 77. Madoff will evaluate the performance of each Additional Well after the drilling, re-entry and completion thereof, at which time Madoff will determine its interest in continuing the Well Program. Madoff shall provide Pantera with written notice of its determination within 15 days after receipt of data relating to 30 days production from each Additional Well. If Madoff elects to terminate its participation in the Well Program with respect to subsequent Additional Xxxxx, it shall have no further liability or obligation under this Agreement or the Well Program.
Additional Xxxxx. Additional xxxxx may be drilled on the Designated Unit and will be subject to the terms and conditions of this Farmout Agreement.
Additional Xxxxx. In the event a teacher is quarantined due to COYID-19 they may be able to teach remotely to their students. If this occurs, no leave will be entered that counts against a staff member on days that remote instruction is used for instruction. These days will have to be communicated with the site principal and Executive Director of Personnel. For a full day to be considered requires remotely teaching the regular day schedule.
Additional Xxxxx. 1) If the Initial Well or a Substitute Well is drilled and then plugged and abandoned as a dry hole, and you have complied with all the terms and provisions of this agreement, then you shall not earn any interests as a result of drilling such well(s), but you shall have the right to earn other farmout interests, on a well-by-well basis, by drilling an additional well(s) at a mutually agreeable, regular location on the Farmout Area, if not more than one hundred eighty (180) days elapse between the date the Initial Well or Substitute Well is plugged and abandoned as a dry hole, or the date of primary rig release, whichever is earlier, and the date you actually spud such additional well(s). The additional well(s) shall be drilled pursuant to all the terms and provisions of this agreement for the Initial Well and, if the additional well is capable of producing oil and/or gas in paying quantities, you will earn a conveyance as provided above for the Earning Well.
2) In the event you complete an Earning Well, and you have complied with all terms and provisions of this agreement, then you shall have the option to earn the balance of the Farmout Area, on a well-by-well basis, by drilling an additional well(s) at a mutually agreeable, regular location on the Farmout Area, with such additional well(s) to be commenced within one hundred eighty (180) days after the completion date of the last well drilled as reported to the applicable regulatory agency, or the date of primary rig release, whichever is earlier. Each such well shall be subject to all the terms and provisions applicable to the drilling of the Initial Well and, if the additional well is capable of producing oil and/or gas in paying quantities, you will earn a conveyance as provided above for the Earning Well.
Additional Xxxxx. The construction of the Project will utilize the current reserved capacity and will require construction of additional xxxxx and infrastructure for the Project. The Borough represents that it will have sufficient water and sewer capacity and necessary easements to support the Project. The Redeveloper shall be responsible for up to Two Million Dollars ($2,000,000.00) of the cost to increase the amount of available water by the amount required for the Project and to maintain the reserves as required under Applicable Law, which currently requires a reserve of three times (3x) the actual usage required, after Completion of the Project. By way of example, if the Project requires Eighty-Five Thousand gallons per day (85,000 GPD), the Redeveloper shall be responsible for up to Two Million Dollars ($2,000,000.00) of the cost to generate an additional two hundred and fifty-five Thousand gallons per day (255,000 GPD). The Borough shall use its best efforts to obtain financing through the New Jersey Environmental Trust to finance the water and sewer improvements. If the Borough is successful the Borough and Redeveloper shall use a special assessment or similar mechanism to secure the repayment of such New Jersey Environmental Trust loan by the Redeveloper up to the amounts for which the Redeveloper is obligated hereunder. If such financing is not secured prior to Site Plan Approval, upon submission of an application for a building permit the Redeveloper shall post a Two Million Dollars ($2,000,000.00) performance bond or escrow account to be draw down to fund the construction of any additional required xxxxx and infrastructure, which shall be a condition of Site Plan Approval. Should the total amount required to fund the additional xxxxx and infrastructure to replenish the required reserves be less than Two Million Dollars ($2,000,000.00), any remaining unused funds shall be returned to the Redeveloper. Notwithstanding anything contained herein, in the event the Borough has sufficient water and sewer capacity at the time Redeveloper applies for a building permit and Redeveloper has posted the performance bond or escrow account required in this paragraph, Redeveloper shall be permitted to proceed with the construction of Phase One and Phase Two.
Additional Xxxxx. Save and except the operations performed on the Rosablanca - 1 Well as of the Effective Date, all additional development under the Rosablanca License, including any new completion of the Rosablanca -1 Well by the Parties shall be performed and funded in accordance to each Party’s interest in the Rosablanca License, pursuant to this Agreement.
Additional Xxxxx. After the drilling of the Test Well, Vanguard may, thereafter, continue to drill xxxxx on said land, each of which shall be drilled upon the same conditions and subject to the same requirements as the Test Well, all of which shall be drilled at locations of Vanguard’s choice upon said land.
Additional Xxxxx. The Borough represents that is has sufficient water and sewer capacity to support the Project. However, the construction of the Project might utilize the current reserved capacity and might therefore require construction of additional xxxxx and infrastructure. The design and construction of the additional xxxxx and associated infrastructure shall be performed by the Borough at its cost and expense.
Additional Xxxxx. Each well spudded after the Initial Well shall be referred to as an “Additional Well”. FARMEE may elect to drill Additional Xxxxx at locations of FARMEE’S choice, but until the assignment of fifty percent (50%) of FARMOR’s interest in the Leases within the Farmout Area as stated in Article IV.E., each Additional Well must be spudded not later than one-hundred twenty (120) days after the rig release of the previous well. There shall be no requirement to attempt a completion of the Initial Well or any Additional Well. Failure of FARMEE to commence any xxxxx hereunder as required shall not result in any penalty to FARMEE other than the termination of FARMEE’S right to earn additional interests in the Leases which have not been previously earned pursuant to this Agreement.