Continuous Option Test Well(s) Sample Clauses

Continuous Option Test Well(s). Upon Completion or abandonment of the Initial Test Well in the time and manner herein provided, and upon furnishing to Farmor the notices and information required herein, Operator shall have the option to continue to develop the Contract Acreage by drilling additional xxxxx (hereinafter “Continuous Option Test Well(s)”). Operator shall have an option for a period of one hundred twenty (120) days for vertical xxxxx and one hundred eighty days (180) for horizontal xxxxx from the date Initial Contract Depth is reached in the first Initial Test Well to commence the actual drilling of a Continuous Option Test Well at a legal location of its choice on any undrilled governmental survey section or portion thereof of the Contract Acreage. Thereafter, Operator shall have a like one hundred twenty (120) days for vertical xxxxx and one hundred eighty days (180) for horizontal xxxxx option from the date Option Contract Depth is reached on each preceding Continuous Option Test Well to commence actual drilling on the succeeding Continuous Option Test Well at a legal location of its choice on any remaining undrilled governmental survey section of the Contract Acreage. Each Continuous Option Test Well shall be drilled diligently, without unnecessary delay, and in a workmanlike manner to a minimum depth of the base of the Niobrara Formation; or at Operators option to a deeper depth (Option Contract Depth) and shall be Completed if a well capable of producing oil or gas in paying quantities, plugged and abandoned if not Completed as a well capable of producing oil or gas in paying quantities, or turned over to Farmor, in accordance with all applicable laws, rules and regulations, and the terms of this Contract. Operator shall advise Farmor in writing of its intention to exercise an option, accompanied by a copy of the surveyor's Plat of Location, at least 60 days prior to commencing actual drilling operations on each Continuous Option Test Well. For purposes of this Contract, the term “Complete(s)”, “Completed” or “Completion” shall mean operations to complete a well as a producer of oil and/or gas, including, but not limited to, the setting of production casing, perforating, well stimulation and production testing.
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Related to Continuous Option Test Well(s)

  • Continuous Operation The work week shall provide for continuous operation based on a seven (7) day week, twenty-four (24) hours per day.

  • Continuous Operations Any employee or group of employees engaged in an operation for which there is regularly scheduled employment on a twenty-four (24) hour a day, seven (7) day a week basis shall be known as continuous operations employees.

  • Period of Continuous Service Period of Notice Up to 1 Year 1 Week More than 1 Year but less than 3 Years 2 Weeks More than 3 Years but less than 5 Years 3 Weeks More than 5 Years 4 Weeks

  • CONTINUOUS IMPROVEMENT 3.1 The Supplier shall adopt a policy of continuous improvement in relation to the Services pursuant to which it will regularly review with the Authority the Services and the manner in which it is providing the Services with a view to reducing the Authority's costs (including the Framework Prices), the costs of Contracting Bodies and/or improving the quality and efficiency of the Services. The Supplier and the Authority will provide to each other any information which may be relevant to assisting the objectives of continuous improvement and in particular reducing costs.

  • Continuous Service The Parties shall continue providing services to each other during the pendency of any dispute resolution procedure, and the Parties shall continue to perform their obligations (including making payments in accordance with Article IV, Section 4) in accordance with this Agreement.

  • Performance Tests Contractor shall perform Performance Tests in accordance with Section 11.2 of the Agreement and Attachment S.

  • Continuous Employment For purposes of this Agreement, the continuous employment of the Grantee with the Company or a Subsidiary shall not be deemed to have been interrupted, and the Grantee shall not be deemed to have ceased to be an employee of the Company or Subsidiary, by reason of (a) the transfer of the Grantee’s employment among the Company and its Subsidiaries or (b) an approved leave of absence.

  • Option Period Pursuant to the Contract, the following are the Adjustment Factors for the next option period: Date Index 1 August 2019 11311.06 3 October 2019 11326.12 6 January 2020 11392.41 7 February 2020 11396.01 8 March 2020 11396.97 9 April 2020 11412.67 10 May 2020 11418.16 11 June 2020 11436.23 12 July 2020 11439.11 Date Index 1 August 2021 12463.13 2 September 2021 12464.55 3 October 2021 12464.94 4 November 2021 12467.32 5 December 2021 12481.82 6 January 2022 12555.55 7 February 2022 12683.97 8 March 2022 12791.43 9 April 2022 12898.96 10 May 2022 13004.47 11 June 2022 13110.50 12 July 2022 13167.84 Price Adjustment: Third Year Index Average = 12712.8733 = 1.1168 Base Year Index Average 11383.5283 WA-DC-E01-100120-VGL Original Adjustment Factor x Price Adjustment = Option Multiplier Normal Working Hours – Prevailing Wage 1.0919 1.1168 1.2194 Other Than Normal Working Hours – Prevailing Wage 1.0924 1.1168 1.2200 Normal Working Hours – Non-Prevailing Wage 1.0919 1.1168 1.2194 Other Than Normal Working Hours – Non- Prevailing Wage 1.0924 1.1168 1.2200 Non Pre-Priced 1.2108 1.0000 1.2108

  • Calculation of Continuous Service In determining the period of continuous service of employees on the active payroll for the purpose of vacation entitlement and Article

  • Restriction on Continuous Offerings Notwithstanding the restrictions contained in Section 3.18.1, the Company, on behalf of itself and any successor entity, agrees that, without the prior written consent of the Representative, it will not, for a period of 12 months after the date of this Agreement, directly or indirectly in any “at-the-market” or continuous equity transaction, offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company.

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