Commercial Discovery Bonus. Upon Commercial Discovery the Contractor shall pay to the State by deposit into the National Petroleum Account Five Million Five Hundred Thousand United States dollars (U.S. $5,500,000).
Commercial Discovery Bonus. 15.3.6.2.1 The Contractor shall pay the commercial discovery bonus only if it declares Commercial Discovery of extra recoverable reserves, as compared to those approved by the authorized agency as of the Effective Date of this Contract. Such commercial discovery bonus shall be computed as 0.1% of the value of the extra recoverable reserves in such Commercial Discovery as compared to those approved by the authorized agency as of the Effective Date of the Contract.
Commercial Discovery Bonus. 16.2.4.2.1 The commercial discovery bonus shall be paid in the amount of 0.1% (zero point one percent) of the value of the approved extractable reserves of the relevant commercial discovery. The value of extractable reserves shall be determined on the basis of exchange market price of such minerals, prevailing on the date of payment. Due Date The due date for the payment of commercial discovery bonus shall be not later than 30 (thirty) calendar days from the date of approval of the reserves by the SCR. Tax Declaration The commercial discovery bonus declaration shall be submitted by the Contractor to a territorial tax authority at the place of its registration not later than the 10th day of April of the year following the year, in which the payment obligation arose.
Commercial Discovery Bonus. On the date the Contractor notifies the Ministry for the first time that it considers a Discovery to be a Commercial Discovery in compliance with the provisions of Article 5.4, the Contractor will pay the State the sum of one and one half million Dollars ($1.5MM).
Commercial Discovery Bonus. 13.3 The Company will pay you a bonus of 100% of the Base Salary in the event that the Company makes a Commercial Discovery during your employment (Commercial Discovery Bonus).
