Common use of Exploration and Development Program and Security Clause in Contracts

Exploration and Development Program and Security. Before Lessee commences exploration or development of Geothermal Resources on the Property, Lessee shall provide Landowner with reasonable advance notice of Lessee's exploration and development plans and copies of all submittals to all Federal, State and other agencies. Before Lessee commences production of Geothermal Resources on the Property, Lessee, at its sole cost, shall obtain and deliver to Landowner security far the performance of Lessee's reclamation obligations under this Agreement and under all applicable Governmental Regulations. Lessee shall cause Landowner to be named as an additional obligee of any security, whether a bond, certificate of deposit, letter of credit, state bond pooling security or surety. As a condition to Lessee's right to commence development activity on the Property, Landowner shall have the right to review and approve Lessee's proposed security. Lessee shall deliver to Landowner copies of Lessee's application for security together with all other documents filed or submitted by Lessee as a part of or with. Lessee's application for security.

Exploration and Development Program and Security. Before Lessee commences exploration exploration, development or development of Geothermal Resources mining activities on the Property, Lessee shall provide submit to Landowner with reasonable advance notice for its review copies of Lessee's ’s exploration and development plans and copies of all submittals to all Federal, State and other agencies. Before Lessee commences production of Geothermal Resources on the Property, Lessee, at its sole cost, shall obtain and deliver to Landowner security far for the performance of Lessee's ’s reclamation obligations under this Agreement and under all applicable Governmental Regulations. Lessee shall cause Landowner to be named as an additional obligee of any security, whether a bond, certificate of deposit, letter of credit, state bond pooling security or surety. As a condition to Lessee's ’s right to commence development activity on the Property, Landowner shall have the right to review and approve Lessee's ’s proposed security. Lessee shall deliver to Landowner copies of Lessee's ’s application for security together with all other documents filed or submitted by Lessee as a part of or with. with Lessee's ’s application for security.

Exploration and Development Program and Security. Before Lessee commences exploration exploration, development or development of Geothermal Resources mining activities on the Property, Lessee shall provide Landowner with reasonable advance notice submit to NLRC for its review copies of Lessee's exploration and development plans and copies of all submittals to all Federal, State and other agencies. Before Lessee commences production of Geothermal Resources on the Property, Lessee, at its sole cost, shall obtain and deliver to Landowner NLRC security far for the performance of Lessee's ’s reclamation obligations under this Agreement and under all applicable Governmental Regulations. Lessee shall cause Landowner NLRC to be named as an additional obligee of any security, whether a bond, certificate of deposit, letter of credit, state bond pooling security or surety. As a condition to Lessee's ’s right to commence development activity on the Property, Landowner NLRC shall have the right to review and approve Lessee's ’s proposed security. Lessee shall deliver to Landowner NLRC copies of Lessee's ’s application for security together with all other documents filed or submitted by Lessee as a part of or with. with Lessee's ’s application for security.