Commitment to Pay Clause Samples

Commitment to Pay. Drilling Costs; JOA to Govern Drilling. Provided CE Power has elected under Clause 5.3 to pay an amount equal to the Drilling costs of the Second Earning Well, and provided it has made a timely payment to FX under Clause 5.3, the start date for drilling operations shall be the earliest practicable date thereafter as determined by the Operator after due consultation with CE Power as agent. The Second Earning Well shall be drilled in accordance with the final proposal issued by the Operating Committee under Clause 5.2 and in accordance with the terms of the Fences JOA, which shall govern all aspects of the Second Earning Well except as expressly provided in this Agreement. In addition to an amount equal to the Drilling costs, CE Power shall also pay an amount equal to 100% of the costs of any geological or geophysical work that the Operator conducts at the sole written request of CE Power prior to testing and completing or plugging and abandoning the well (as a dry hole).

Commitment to Pay