Common use of Eleventh year Clause in Contracts

Eleventh year. Performance of a research drill if, pursuant to no. 1. f) of Annex IV to the concession contract, the site chosen is located at this concession area, with an estimated investment of US$ 15,000,000.00 (fifteen million dollars of the United States of America). Twelfth year: · Geology and geophysics’ studies. · Reinterpretation based on the new data obtained with the research drill performed in the previous year. · Preparation of a research drill Thirteenth year: Performance of a research drill with an estimated investment of US$ 15,000,000.00 (fifteen million dollars of the United States of America), pursuant to what is provided for in no. 1, item g) of Xxxxx XX to this Concession Contract. First year of extension: · Geology and geophysics’ studies. · Reinterpretation based on the new data obtained with the research drill performed in the previous year. · Preparation of a research drill Second year of extension: Performance of a research drill with an estimated investment of US$ 15,000,000.00 (fifteen million dollars of the United States of America), pursuant to what is provided for in no. 1, item g) of Xxxxx XX to this Concession Contract.”