Agreements Regarding Appointment of Heartland as Drilling Contractor Sample Clauses

Agreements Regarding Appointment of Heartland as Drilling Contractor. If the Company is awarded any Contract in connection with a bid or otherwise, the Parties agree as follows regarding the appointment of Heartland as drilling contractor: (A) It shall have the right to recommend, to initiate and/or to implement any and all actions on behalf of the Company to achieve its duties and responsibilities as drilling contractor, as may be reasonably determined by Heartland in its sole discretion. Without limiting the generality of the foregoing, Heartland as drilling contractor will have the right to control, manage and operate the following aspects of Company operations: (i) assembling third party bid proposals with respect to all aspects of the requirements under any and all Contracts; (ii) determining, in consultation with FEIPCO, acting reasonably, which third party contractor(s) the Company should retain to undertake fulfilling the Company’s obligations under any and all of the Contracts. (B) In consideration of the performance of its services as “Drilling Contractor”, Heartland will upon the completion of the performance of the final well under the Contract receive a “Bonus Fee” from the Company equal to the greater of: (i) 50% of any cost savings arising from a lower than anticipated project completion price and (ii) an amount equal to 10% of the actual project costs. (C) FEIPCO will use all reasonable best efforts to assist Heartland in the performance of its obligations hereunder under the Contract. (D) Heartland will not be liable and/or responsible for the failure to perform, non performance or substandard performance of it duties as drilling contractor if at any time FEIPCO is unwilling, unable or fail to perform its duties contemplated hereunder on a timely basis or in a manner the detrimentally affects Heartland in the performance of its duties. (E) FEIPCO agrees and covenants to: (i) provide and implement all of the necessary security of “in country” operations and personnel for the Company and the Parties; (ii) in consultation with Heartland, procure drilling contracts on terms acceptable to the Parties; (iii) source, supply or procure any and all equipment, materials, personnel and services required to cause the Company and Heartland to perform their respective obligations. (iv) provide the “in country” logistical support and staffing for the Company; (v) ensure effective and open “political liaisons” and communications with SOC and other governmental and quasi governmental persons, entities and/or authorities as r...
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