Exploration Period Special Extensions Sample Clauses

Exploration Period Special Extensions. 3.4.1 If the Contractor has made a Discovery and pursuant to clause 6.4.1 and has notified the SPA that it has made a Discovery, the Exploration Period shall not terminate before the end of the Evaluation Period and shall apply to the Contract Area at the time the Discovery was made. 3.4.2 If pursuant to clause 6.7.1 the Contractor is drawing up an Appraisal Work Programme and Budget in respect of a Discovery, the Exploration Period shall not terminate unless the Contractor fails to submit to the SPA an Appraisal Work Programme and Budget in accordance with the timescales set out in clause 6.7. 1. Where the Contractor submits an Appraisal Work Programme and Budget in compliance with clause 6.7.1. the Exploration Period shall not terminate in respect of a Discovery Area to which the Appraisal Work Programme and Budget relates until the first to occur: 3.4.2.1 the date on which the proposed Development Plan submitted by the Contractor in respect of the Discovery Area is approved by the SPA Petroleum pursuant to clause 8.3; 3.4.2.2 the date the Contractor gives notice, or is deemed to have given notice, to the SPA under clause 6.7.9 that the Discovery is a Non-Commercial Discovery and the Contractor does not intend to develop it. 3.4.3 If pursuant to clause 40.3.1 there is an ongoing Commercial Assessment Period, the Exploration Period shall not terminate in respect of the portion of the Contract Area that is subject to a Commercial Assessment Period for the duration of the Commercial Assessment Period.
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Exploration Period Special Extensions. 2.6.1 If the Licensee has made a Discovery and pursuant to Article 7.1 has notified the Commissioner that it has made a Discovery, the Exploration Period shall not terminate before the end of the Evaluation Period and shall apply to the Licence Area at the time the Discovery was made. 2.6.2 If pursuant to Article 7.3.1 (a) the Licensee is drawing up an Appraisal Programme in respect of a Discovery, the Exploration Period shall not terminate unless the (a) the Exploration Period shall apply to the Licence Area until the Licensee commences Appraisal Operations in respect of the Discovery Area. 2.6.3 If the Licensee is undertaking Appraisal Operations in compliance with Article 7.3, the Exploration Period shall not terminate in respect of the Discovery Area to which those Appraisal Operations relate until the first to occur of: (a) the date on which the Proposed Development and Production Plan submitted by the Licensee in respect of the Discovery Area is approved by the Commissioner pursuant to Article 7.7; (b) where the Commissioner does not approve the Proposed Development and Production Plan and reference is made to an expert, the date approval is given pursuant to Article 7.7.6(a) or Article 7.7.7; and (c) the date the Licensee gives notice, or is deemed to have given notice, to the Commissioner under Article 7.3.1(e) that the Licensee does not intend to enter into Development and Production Operations in respect of that Discovery Area. 2.6.4 If pursuant to Article 11.3(a) there is an ongoing Commercial Assessment Period, the Exploration Period shall not terminate in respect of the portion of the Licence Area that is subject to a Commercial Assessment Period for the duration of the Commercial Assessment Period. The portion of the Licence Area that is subject to a Commercial Assessment Period shall be agreed between the Parties in accordance with Article 11.3(a).
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Related to Exploration Period Special Extensions

  • Initial Contract Term The Initial Contract Term shall be for two years. The Initial Contract Term shall begin on October 1, 2021, or on the last date the Contract is signed by all Parties, whichever is later. The Contract shall expire on October 1, 2023, unless terminated earlier in accordance with the Special Contract Conditions or Additional Special Contract Conditions.

  • Listing Period Extension The Commission shall be due if the Property is sold, conveyed, exchanged, optioned, or otherwise transferred within _ _ days (“Extension Period”) after the expiration of the Listing Period to anyone with whom the Broker or Agency has negotiated unless the Property is listed, in good faith, with another real estate agency. The term “negotiation” shall include providing information about the Property, showing the Property, or presenting an offer on the Property. All rights under this Section shall terminate upon the expiration of the Extension Period.

  • 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.

  • Extension Period Any extension hereof shall be subject to the provisions of Article III hereof.

  • Annual Work Plans and Budgets The Recipient shall furnish to the Association as soon as available, but in any case not later than September 1 of each year, the annual work plan and budget for the Project for each subsequent year of Project implementation, of such scope and detail as the Association shall have reasonably requested, except for the annual work plan and budget for the Project for the first year of Project implementation, which shall be furnished no later than one (1) month after the Effective Date.

  • Renewal, Extension The renewal or extension of any Letter of Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder.

  • 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.

  • Extension Term The options to extend the Term of this Lease as described above shall not be deemed exercised by Tenant unless at least twenty-four (24) months prior to the Lease Expiration Date for the Primary Term or at least twenty-four (24) months prior to the expiration of the Extension Term for the first (1st) Extension Term, Tenant shall have delivered written notice to Landlord of Tenant's irrevocable election to so extend this Lease at the end of the Primary Term or the first (1st) Extension Term, as applicable. Tenant's failure to deliver one (1) such timely notice to Landlord shall terminate all future Extension Terms, if any, following the Extension Term to which such notice specifically relates. Subject to the provisions of paragraph 5 of this Lease, the terms and conditions of this Lease shall apply to each Extension Term with the same force and effect as if such Extension Term had originally been included in the Primary Term of the Lease. The right of Tenant to exercise its rights with respect to the Extension Terms shall be conditioned upon this Lease being in full force and effect and no Event of Default then existing as of the Lease Expiration Date (for the first (1st) Extension Term), or expiration of the first (1st) Extension Term (for the second (2nd) Extension Term). The Primary Term, together with any Extension Term with respect to which Tenant properly exercises its option, and for which the conditions related thereto are satisfied, shall constitute the "TERM" of this Lease.

  • Term of Contract; Contract Extension The Contract will be in effect from the Effective Date (15 December 2016) through 31 December 2018. DAS, in its sole discretion, may extend this Contract for additional terms beyond the original term, prior to Termination or expiration, one or more times for a combined total period not to exceed the complete length of the original term.

  • Territorial Extension At the time of signature of this Agreement, or at any time thereafter, the provisions of this Agreement may be extended to such territories for whose international relations the Government of the United Kingdom are responsible as may be agreed between the Contracting Parties in an Exchange of Notes.

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