EXPLOITATION PHASE Sample Clauses

EXPLOITATION PHASE. 7.1 Within 2 (TWO) months of taking a Decision to Mine, the Participants shall decide whether to form a new legal entity to conduct Mining , and on failure to reach such an agreement, the Joint Venture will continue to operate in accordance with the terms and conditions set out hereunder. 7.2 The Participants shall procure at the commencement of the Exploitation Phase (or earlier if necessary), that an HDP Participant is introduced into the Joint Venture having a Participation Interest sufficient to satisfy the requirements of the MPRDA and the Charter; provided that by the commencement of Commercial Production the HDP Participant shall have a Participation Interest of at least 26% (TWENTY SIX PERCENT). The identity of the HDP Participant shall require the prior written approval of both Participants which approvals shall not be unreasonably withheld. CIS/AAP/669 Page 48 1256/AAP/KJW 26/04/2004 7.3 The balance of the Participation Interest after the introduction of the HDP Participant shall be divided between PPL and Plateau based on their respective contribution values as determined in the Bankable Feasibility Study. The value of the PPL Rights (“the PPL Value”) will be equal to the Net Present Value (“NPV”) of exploiting the PPL Rights as a stand alone Mining operation by applying an agreed discount rate. The discount rate for the farms Drenthe 778 L.R. and Overysel 815 L.R. shall be equal. If the Parties are unable to agree a discount rate for Witrivier 778 L.R. or if the inclusion thereof does not add value to the Joint Venture Project that property shall no longer form part of the Joint Venture. The value of the Plateau Rights (“the Plateau Value”) will be equal to the aggregate of all Exploration Expenditure incurred by Plateau up to the commencement of the Exploitation Phase and the Net Present Value (“NPV”) of exploiting the Plateau Rights as a stand alone Mining operation by applying an agreed discount rate. 7.4 Should the PPL Value and the Plateau Value differ then in the event that the Plateau Value is greater than the PPL Value, then PPL’s initial Participation Interest in the Exploitation Phase shall be reduced proportionately and PPL shall have the election to : 7.4.1 remain at its reduced Participation Interest (subject to dilution (as determined in accordance with 7.8) in the event that it elects to have a CIS/AAP/669 Page 49 1256/AAP/KJW 26/04/2004 Non-Contributory Participation Interest in accordance with 7.5 or is deemed to have so electe...
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EXPLOITATION PHASE. 7.1 Should the Participants pursuant to a Bankable Feasibility Study, decide to proceed to the Exploitation Phase of the Joint Venture Project, the Participants shall decide whether to form a new legal entity to conduct exploitation, and on failure to reach such an agreement, the Joint Venture will continue to operate in accordance with the terms and conditions set out hereunder. 7.2 During the Exploitation Phase all Capital Expenditure and Operating Expenditure requirements of the Joint Venture Project shall be funded by the Participants in accordance with their respective Participation Interests in the Joint Venture from time to time. 7.3 In regard to management of the cash of the Joint Venture during the Exploitation Phase: 7.3.1 all of the Proceeds and all the other revenue of the Joint Venture derived from the sale of anything else by or on behalf of the Participants as a result of the holding of their Participation Interests in the Joint Venture, or any insurance proceeds as a result of a claim for loss of Profits, will be paid into a bank account in the name of the Joint Venture; 7.3.2 Operating Expenditure and Capital Expenditure of the Joint Venture shall be paid for by the Manager out of the bank account referred to in 7.3.1; 7.3.3 the Manager shall retain sufficient funds in the said bank account to fund working capital of the Joint Venture required for Operating Expenditure and Capital Expenditure of the Joint Venture in an amount to be determined by the Manager, which amount may be varied by the Management Committee at any time; 7.3.4 the Participants will maintain the Profit distribution policy whereby, subject to the making of appropriate specific reservations, the portion of annual Profit to be distributed and the portion thereof to be retained, will be commensurate with the maintaining of a sound financial position of the Joint Venture. 7.4 It is recorded that all liabilities and obligations of the Joint Venture shall be borne by the Participants in accordance with their respective Participation Interests in the Joint Venture from time to time. 7.5 All Capital Expenditure and Operating Expenditure will only be incurred in terms of a Budget and/or the Manager’s schedule of authority. The Management Committee shall be required to approve Budgets, cash flow forecasts and cash call procedures. 7.6 Should a community trust or similar such entity be established by the Participants in relation to the Joint Venture Project during the Exploitation ...
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EXPLOITATION PHASE. During the Exploitation Phase costs of permanent employees engaged in the execution of Petroleum Operations, particularly salaries, benefits, contributions and expatriation costs, shall be recovered by the Operator through flat fees determined on a man-per-day basis for the applicable categories of personnel. After their approval by the Operating Committee, the flat fees shall be charged to the Joint Account. To readjust the costs actually incurred, each Party may ask the Operating Committee to update these flat fees.
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EXPLOITATION PHASE. 4.1. The parties will collaborate with respect to identification and exploitation of world-wide industrial needs for nanotechnology applications and to jointly respond to such needs with regard to mutually beneficial research, product development, product commercialization and education as provided herein (the "Exploitation Phase"). 4.2. The Exploitation Phase shall include, without limitation, the following activities, subject to the terms and conditions provided in this Agreement: (i) Continued joint nanotechnology research and product development, including experimentation of mono and multilayers on flexible substrates; (ii) Exclusive for NWPC exploitation and commercialization of the Nanotechnology related to the DTLF method described in Exhibit; (iii) Joint education, training and collaboration on publishable research; (iv) Exchange of scientists; (v) Execution of research topics of broad and specific industrial interest; and (vi) Benchmarking in the field of advanced nanotechnologies;
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Related to EXPLOITATION PHASE

  • Production Phase contract period in which the Development and the Production are to be performed.

  • Development Phase contractual phase initiated with the approval of ANP for the Development Plan and which is extended during the Production Phase while investments in xxxxx, equipment, and facilities for the Production of Oil and Gas according to the Best Practices of the Oil Industry are required.

  • Programming Phase Schematic Design Phase: 2.2.1.3. Design Development Phase:

  • Design Development Phase INDICATE IN STATEMENT OF WORK “NOT APPLICABLE” IF SECTION IS NOT APPLICABLE 1.1.6.1. The ARCHITECT/ENGINEER shall prepare from the approved Schematic Design Studies, the Design Development Documents consisting of drawings (including at least architectural, landscaping, civil, structural, mechanical and electrical plans, building sections; and finish schedule), outline specifications following the Construction Specification Institute "CSI" Format and other necessary documents to fix and describe the size and character of the entire Project as to its site, structural, mechanical, and electrical systems, materials and other such essentials as may be appropriate, for and until approved by the State. 1.1.6.2. The ARCHITECT/ENGINEER shall conduct meetings with the State, Efficiency Vermont, and relevant members of the design team, to review the Design Development Documents for the purposes of furthering the energy efficiency objectives of the Project. 1.1.6.3. The ARCHITECT/ENGINEER shall prepare for the State a revised accounting of how the Project is responding to LEED criteria. 1.1.6.4. The ARCHITECT/ENGINEER shall submit to the State a revised Statement of Probable Construction Cost based thereon for and until approved by the State.

  • Development Period The Contractor may commence pre-construction activities like utility shifting, boundary wall construction or any other activity assigned to the Contractor by the Authority to enable construction of the Project Highway immediately after signing of the Agreement, to the extent that such work is ready for execution. The Parties agree that these works may be taken up and completed to the extent feasible by the Contractor, before declaration of the Appointed Date, but no claim against the Authority for delay shall survive during this period and that the undertaking of these works by the Contractor shall not count towards the Scheduled Construction Period of the project which starts counting only from the Appointed Date. No construction activity of the Project Highway shall be undertaken during the development period.

  • Research Collaboration 3.7.1 Aarvik shall carry out the activities of each Work Item and deliver the required Data Package and/or deliverables in accordance with the applicable SOW. Without limiting the generality of the foregoing, Aarvik shall, in accordance with the applicable SOWs and the timeline approved by JRC, apply the Aarvik IP to (i) design and synthesize Collaboration Compounds, and (ii) by itself or through subcontractor(s), [***]. During the Research Term, if any Party identifies any Third Party Patent or Know-How that is necessary or reasonably useful for any activity under the SOWs but has not been included in the Aarvik IP, then such Party shall immediately inform the other Party and the Parties shall discuss in good faith the need of obtaining a license from such Third Party. 3.7.2 No later than [***] ([***]) days after completion of the [***], Aarvik shall, to the extent not already provided to ArriVent, deliver the Data Packages and all other deliverables required under the [***], as well as the results of the Patentability and FTO Analysis as described in Section 3.2.3, to ArriVent. ArriVent shall have the sole discretion to decide whether or not to advance any Collaboration Compound and which Collaboration Compound(s) will be advanced for further studies beyond the [***]. ArriVent shall inform Axxxxx of its decision in writing. If AxxxXxxx decides to advance the Collaboration Program to [***], ArriVent shall make the payment for the [***] pursuant to Section 6.2.1. 3.7.3 If, upon completion of the [***] for the Collaboration Program, AxxxXxxx decides not to advance the Collaboration Program to [***], ArriVent may terminate the Collaboration Program. If AxxxXxxx decides to advance the Collaboration Program to [***], ArriVent shall make the payment for the [***] pursuant to Section 6.2.1. 3.7.4 No later than [***] ([***]) days after completion of the [***], Aarvik shall, to the extent not already provided to ArriVent, deliver all Data Packages and deliverables required under the [***] to ArriVent. ArriVent shall have the sole discretion to decide whether or not to advance any Collaboration Compound and which Collaboration Compound(s) will be advanced for further studies beyond the [***]. ArriVent shall inform Axxxxx of its decision in writing. 3.7.5 No later than [***] ([***]) days after completion of the [***], Aarvik shall, to the extent not already provided to ArriVent, deliver all Data Packages and deliverables required under the [***] to ArriVent. 3.7.6 Within [***] ([***]) days after completion of the [***], Aarvik shall deliver to ArriVent a full report on all key results and findings of the Collaboration Program, and such other data, results and information as ArriVent may deem necessary for it to determine whether or not to exercise the Option (the “Full Report”).

  • Construction Phase Part 1 –

  • Development Program RWJPRI shall be [**] and have [**] in consultation with the JDAC, to select LICENSED COMPOUNDS which shall then be designated PRODUCTS for further DEVELOPMENT by RWJPRI and marketing by ORTHO and its AFFILIATES. RWJPRI shall provide KOSAN with written notice of its decision to select a LICENSED COMPOUND for DEVELOPMENT. Once a PRODUCT has been selected for further DEVELOPMENT, RWJPRI, with the advice of the JDAC, shall have the [**] right to develop the PRODUCT through STAGES O, I, II and III and shall have the [**] right to prepare and file, and shall be the owner of, all applications for MARKETING AUTHORIZATION throughout the world. During such DEVELOPMENT efforts, KOSAN will assist RWJPRI as may be mutually agreed, at RWJPRI's expense, in chemical development, formulation development, production of labeled material and production of sufficient quantities of material for STAGE O and initial STAGE I studies. RWJPRI shall exercise diligent efforts, commensurate with the efforts it would normally exercise for products with similar potential sales volume and consistent with its overall business strategy, in developing such PRODUCT in accordance with the DEVELOPMENT PLAN established by RWJPRI. In the course of such efforts RWJPRI shall, either directly or through an AFFILIATE or SUBLICENSEE to which the license shall have been extended, take appropriate steps including the following: (i) in consultation with the JDAC, select certain LICENSED COMPOUNDS for STAGE O DEVELOPMENT; and (ii) establish and maintain a program reasonably designed, funded and resourced to obtain information adequate to enable the preparation and filing with an appropriate and properly empowered national regulatory authority all necessary documentation, data and [**] CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. other evidence required for IND non-rejection to commence and conduct human clinical trials of such PRODUCT. (iii) proceed following IND non-rejection to commence PHASE I, II, and III clinical trials, associated studies and such other work which RWJPRI reasonably deems to be required for subsequent inclusion in filings for MARKETING AUTHORIZATION; (iv) after such submissions are filed prosecute such submissions and file all reasonably necessary, reports and respond to all reasonable requests from the pertinent regulatory, authorities for information, data, samples, tests and the like.

  • Collaboration 31.1 If the Buyer has specified in the Order Form that it requires the Supplier to enter into a Collaboration Agreement, the Supplier must give the Buyer an executed Collaboration Agreement before the Start date. 31.2 In addition to any obligations under the Collaboration Agreement, the Supplier must: 31.2.1 work proactively and in good faith with each of the Buyer’s contractors 31.2.2 co-operate and share information with the Buyer’s contractors to enable the efficient operation of the Buyer’s ICT services and G-Cloud Services

  • Development Work The Support Standards do not include development work either (i) on software not licensed from CentralSquare or (ii) development work for enhancements or features that are outside the documented functionality of the Solutions, except such work as may be specifically purchased and outlined in Exhibit 1. CentralSquare retains all Intellectual Property Rights in development work performed and Customer may request consulting and development work from CentralSquare as a separate billable service.

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