Development Expenditures. All Development Expenditures shall be borne by the parties according to their interest and subject to the provisions of the applicable Program Operating Agreement, whether incurred before or after the Program Term.
Development Expenditures. The Borrower shall not make any Development Expenditures except Permitted Development Expenditures. All assets or property built or acquired with Development Expenditures shall constitute Collateral except as provided in the Cooperation Agreement, the Water Agreement or the Security Documents or for contributions in aid of construction in connection with gas interconnection or metering facilities under gas interconnection or metering agreements.
Development Expenditures. All Development Expenditures with respect to each individual Commercial Field shall be paid by Contractor.
Development Expenditures. After delivery of Royalty in accordance with Article 12 and reimbursement of Operating Expenditures in accordance with Sub-article 13.2, Contractor shall be entitled to an amount of Crude Oil from the Commercial Field which, when valued at the Market Price, equals the Development Expenditures for such field carried forward pursuant to Sub-articles 13.5 and 13.6.
Development Expenditures. The Borrower shall not make any Development Expenditures except Permitted Development Expenditures. All assets or property built or acquired with Development Expenditures shall
Development Expenditures. The Borrower shall not permit the Project or any material portion thereof to be removed, demolished or materially altered, unless (A) such material portion that has been removed, demolished or materially altered has been replaced or repaired as permitted under the Financing Documents, or (B) such removal or alteration is (x) in accordance with Prudent Industry Practices (as certified by the Independent Engineer, acting reasonably) and could not reasonably be expected to result in a Material Adverse Effect or (y) required by applicable Government Rule.
Development Expenditures. In connection with the development of the Properties, Borrower shall not expend any proceeds of the Loan for activities not expressly provided for herein or included on an AFE approved in writing by Administrative Agent as provided herein.
Development Expenditures. As pursuant to Title 25 of the Code of Federal Regulations, Part 211, Subpart C, §212.42, a lease for minerals shall provide for a yearly development expenditure of not less than $20.00 per acre. (Optional clause - may delete.)
Development Expenditures. Development Expenditures are those costs of a capital nature which directly relate to the Development of a Field with respect to an Exploitation Area, including costs of:
a) Drilling Xxxxx, including labour, material and services.
b) Facilities used in support of the performance of activities mentioned in paragraph (a).
c) Production facilities including offshore platforms, wellhead production tubing, pumps, flow lines, gathering equipment, delivery lines, treatment facilities, storage facilities, export terminal and piers, enhanced recovery facilities.
Development Expenditures. Glamis shall provide all necessary funding for Expenditures for the Development and Construction of Mining and processing facilities at the Project after the Construction Release Date until the commencement of Commercial Production (the "Development Expenditures"). Following the Commencement of Commercial Production, Glamis shall receive eighty percent (80%) of Net Cash Flow (as defined and calculated in Section 4.3.2) from the Project until Glamis has received an amount (the "Reimbursement Amount") equal to all of the Development Expenditures incurred plus interest at LIBOR plus one and one-half percent (1 1/2%). The remaining twenty percent (20%) of Net Cash Flow shall be distributed to the Shareholders in proportion to their respective Ownership Interests. After Glamis receives the Reimbursement Amount, Net Cash Flow shall be divided according to the Shareholders' respective Ownership Interests as provided in Section 4.3.3. Following the Commencement of Commercial Production, each Shareholder will be responsible for its share of any further costs and expenses as provided in Section 4.3.
