Development and Production Activities Sample Clauses
The 'Development and Production Activities' clause defines the rights and responsibilities of the parties regarding the exploration, development, and production of resources or products under the agreement. It typically outlines the procedures for planning, executing, and managing these activities, including timelines, required approvals, and standards to be met. For example, it may specify how work programs are proposed and approved, or how costs and operational duties are shared. The core function of this clause is to ensure that both parties have a clear understanding of how development and production will proceed, thereby minimizing disputes and promoting efficient project execution.
Development and Production Activities. The CRMC’s CZMA six-month review period for the Revolution Wind project began on August 6, 2021.2 The CRMC issued its 3-month letter to Revolution Wind on October 21, 2021 pursuant to the requirements of 15 C.F.R. § 930.78(a). In that letter the CRMC detailed specific information requirements that Revolution Wind has been requested to provide to the CRMC in order to complete the CRMC’s federal consistency review pursuant to its enforceable policies. 1 Revolution Wind, LLC is a50/50 joint venture between Ørsted and Eversource Investment LLC. 2 The CRMC notified BOEM and Revolution Wind in a letter dated August 18, 2021 that commencement of the CRMC CZMA consistency review for the Revolution Wind project began on August 6, 2021. Revolution Wind wants to confer with CRMC about the information that it seeks in the 3-month letter issued pursuant to 15 C.F.R. § 930.78(a). Revolution Wind identifies within its COP at Section 1.4.1.2 that the CRMC federal consistency decision for the project is anticipated between Q1 and Q3 2023. In addition, BOEM issued its Notice of Availability for the Draft Environmental Impact Statement (▇▇▇▇) in September 2022, and there is considerable information that CRMC believes is valuable to CRMC’s decision making process within the ▇▇▇▇, including the range of expected project alternatives and mitigation measures.3 Furthermore, the Revolution Wind project has undergone significant refinement in recent months which require substantial State agency time and resources to analyze. In accordance with 15 CFR § 930.60(b), and in consideration of the parties’ mutual interest that the State have additional time to fully assess the proposed project’s consistency with the State’s enforceable policies, the CRMC and Revolution Wind mutually agree to the following dates and to stay the CRMC CZMA six-month review period as specified herein.
Development and Production Activities. During the Option Period, Purchaser shall have the right to engage in development and pre-production activities with respect to the Property and the Project. Any and all material created or written in connection with such development or pre-production activity shall remain Purchaser’s sole and exclusive property (whether or not Purchaser exercises the Option). Upon expiration of the Option, all rights to all materials created in connection with the Property, including, without limitation, the results and proceeds of all writing services rendered by Seller or by or for Purchaser and its employees and agents, shall revert or will be assigned free and clear to Seller.
Development and Production Activities. ▇▇▇▇ announced in August 2019 that it would expand the cumulative impact analysis of offshore wind energy projects within its draft Environmental Impact Statement (EIS) for the Vineyard Wind project (Docket No. BOEM-2020-0005). ▇▇▇▇ released the supplemental Draft
Development and Production Activities