Common use of Agreed Permit Work Programs and Budgets Clause in Contracts

Agreed Permit Work Programs and Budgets. (a) The Work Program and Budget detailing the Operations to be performed in respect of the Permit for the fourth and fifth Permit Years is attached as Schedule 2. (b) On or before the first day of June of each year beginning 2017 and continuing each year thereafter, Operator shall deliver to Nation a proposed Work Program and Budget detailing the Operations to be performed in respect of the Permit for the following Permit Year. Within 21 days after such delivery, the Operating Committee shall meet to consider and endeavour to agree the Work Program and Budget; failing agreement, the proposed Work Program and Budget reasonably estimated to cost the least will conclusively be deemed adopted, so long as such proposed Work Program and Budget will satisfy all of the Minimum Work Obligations of that Permit Year. (c) Any approved Work Program and Budget may be revised by the Operating Committee from time to time. To the extent such revisions are approved by the Operating Committee, the Work Program and Budget will be amended accordingly.

Agreed Permit Work Programs and Budgets. (a) The Work Program and Budget detailing the Operations to be performed in respect of the Permit for the third and fourth and fifth Permit Years is attached as Schedule 2. (b) On or before the first day of June July of each year beginning 2017 and continuing each year thereafter, Operator shall deliver to Nation a proposed Work Program and Budget detailing the Operations to be performed in respect of the Permit for the following Permit Year. Within 21 days after such delivery, the Operating Committee shall meet to consider and endeavour to agree the Work Program and Budget; failing agreement, the proposed Work Program and Budget reasonably estimated to cost the least will conclusively be deemed adopted, so long as such proposed Work Program and Budget will satisfy all of the Minimum Work Obligations of that Permit Year. (c) Any approved Work Program and Budget may be revised by the Operating Committee from time to time. To the extent such revisions are approved by the Operating Committee, the Work Program and Budget will be amended accordingly.

Agreed Permit Work Programs and Budgets. (a) The Work Program and Budget detailing the Operations to be performed in respect of the Permit for the fourth fifth and fifth sixth Permit Years is attached as Schedule 2. (b) On or before the first day of June of each year beginning 2017 and continuing each year thereafter, Operator shall deliver to Nation a proposed Work Program and Budget detailing the Operations to be performed in respect of the Permit for the following Permit Year. Within 21 days after such delivery, the Operating Committee shall meet to consider and endeavour to agree the Work Program and Budget; failing agreement, the proposed Work Program and Budget reasonably estimated to cost the least will conclusively be deemed adopted, so long as such proposed Work Program and Budget will satisfy all of the Minimum Work Obligations of that Permit Year. (c) Any approved Work Program and Budget may be revised by the Operating Committee from time to time. To the extent such revisions are approved by the Operating Committee, the Work Program and Budget will be amended accordingly.