Commercial Field Clause Samples
The 'Commercial Field' clause defines the specific area of commerce or industry in which the rights granted under an agreement may be exercised. Typically, this clause restricts the use of licensed technology, intellectual property, or products to certain commercial sectors, such as healthcare, automotive, or consumer electronics. By clearly delineating the permitted field of use, the clause helps prevent unauthorized exploitation in unrelated markets and ensures that both parties understand the scope of the agreement, thereby reducing the risk of disputes over usage rights.
Commercial Field. It is the field that ECOPETROL accepts as capable of producing Hydrocarbon in economically exploitable quantity and quality in one or more Production Targets defined by ECOPETROL.
Commercial Field. After the ASSOCIATE has obtained sufficient information related to Field development, the ASSOCIATE shall conduct a study to define petrophysical parameters, better productive area boundaries and reserves calculation. The study shall be conducted by the ASSOCIATE, at its expense, applying available technical methods in the country or abroad; and when the circumstances so require the pertinent revisions shall be made.
Commercial Field. A portion of the Contract Area, in whose subsurface one or more reservoirs have been discovered, and which THE CONTRACTOR has decided to exploit.
Commercial Field. Is the Reservoir that ECOPETROL accepts that is able to produce Hydrocarbons in economically profitable quantity and quality, as defined by ECOPETROL in the moment of accepting commerciality.
Commercial Field. The portion of the Contracted Area having one or more discovered reservoirs within its grounds, which THE CONTRACTOR has decided to exploit commercially.
Commercial Field. It is the portion of the Contracted Area in the subsoil of which there is one or more deposits discovered which the CONTRACTOR has decided to exploit in a commercial manner.
Commercial Field. It is the portion of Contracted Area in which subsoil there are one or more discovered reservoirs that THE CONTRATOR has decided to exploit commercially.
Commercial Field. It is that portion of the Contracted Area that is be able to produce Oil in economically feasible quantities and quality.
Commercial Field. Is the field accepted by ECOPETROL able to produce Hydrocarbons in economically exploitable quantity and quality, in one or more of the Production Objectives defined by ECOPETROL at the time of acceptance of the commerciality, without prejudice that during the exploitation phase other Production Objectives may be found.