Extension of Primary Term Sample Clauses

Extension of Primary Term. Lessee has the option to extend the primary term of this Lease for one additional term of five (5) years from the expiration of the primary term of this Lease; said extension to be under the same terms and conditions as contained in this Lease. Lessee may exercise this option to extend this Lease if on or before the expiration date of the primary term of this Lease, Lessee pays or tenders to the Lessor or to the Lessor’s credit an extension payment of , dollars $ .00 per Leasehold acre. Exercise of this option is at Lessee's sole discretion and may be invoked by Lessee where no other alternative of the Lease Term clause extends this Lease beyond the primary term.
Sample 1
Extension of Primary Term. This Lease may be extended beyond the Primary Term only under the condition that an active deep well (into regions below the top of the Queenston Shales) has been commenced to the extent that the bit has hit the ground prior to the end of the Primary Term, or by the other terms and conditions contained herein, including, but not limited to, the provisions of Article II. Section 3 below, or if at the expiration of the Primary Term, or any extension thereof, Lessee is then engaged in drilling, deepening, plugging back or reworking operations, then this Lease, as to all acreage covered hereby, shall remain in full force and effect so long as: (i) the drilling, deepening, plugging back or reworking operations are prosecuted to completion with due diligence; and (ii) no cessation of more than ninety (90) consecutive days occur from the completion of the operations and the commencement of drilling, deepening, plugging back or reworking operations of a different well; and (iii) Lessee continues to commence the drilling, deepening, plugging back or reworking of a well within ninety (90) days after the completion of operations on the prior well.
Sample 1Sample 2
Extension of Primary Term. This Lease may be extended beyond the Primary Term only under the condition that an active deep well (in excess of 5000 feet) has been commenced to the extent that the bit has hit the ground prior to the end of the Primary Term.
Sample 1
Extension of Primary Term. Lessee, so long as it shall not be in default ------------------------- under the terms and provisions of this Lease, and so long as it is not already producing from the Subject Premises in Commercial Quantities as defined in Article VI and has not extended the Primary Term by making the Advance Royalty payment described in Article II.D. below, shall have the exclusive right, privilege and option to extend the Primary Term for an additional term of five (5) years upon the following terms and conditions: 1. Written notice of Lessee's intent to extend the Primary Term shall be given by Lessee to Lessors at least sixty (60) days prior to the expiration of the initial ten-year Primary Term. 2. Lessee at the time of giving its notice of extension, shall make one lease payment in the amount of fifty thousand dollars ($50,000.00) (the "Extension Payment") to Lessors as consideration for the five-year extension of the Primary Term.
Sample 1
Extension of Primary Term. This Lease may be extended beyond the Primary Term only under the condition that Operations have commenced on an active deep well (in excess of 5000 vertical feet) prior to the end of the Primary Term.
Sample 1
Extension of Primary Term. Notwithstanding any provision contained herein to the contrary, whether or not Minerals are being produced on the Leased Premises at the expiration of the Primary Term, if Lessee (i) is engaged at the expiration of the Primary Term in drilling or reworking operations on the Leased Premises or lands pooled therewith or (ii) has completed a well either as a dry hole or as a producer on the Leased Premises within one hundred fifty (150) days before the expiration of the Primary Term, the Primary Term of this Lease shall be extended and remain in full force and effect as to all of the Leased Premises for so long as operations for drilling are conducted on the Leased Premises or lands pooled therewith with no more than one hundred fifty days elapsing between the completion or abandonment of one well and the commencement of actual drilling operations of another well. Upon the expiration of such extended Primary Term, this Lease shall terminate as to: (1) all lands which are not included within (i) a pooled unit created pursuant to Section 3 or (ii) a proration unit established by Lessee and approved by the New Mexico Oil and Gas Conservation Division applicable to each producing well located on the Leased Premises or on lands pooled therewith (it being understood that each such proration unit shall contain no more acreage than the minimum number of acres required to obtain approval of the drilling unit size applicable to a well under the applicable density rules adopted by a governmental authority having jurisdiction, and (2) all depths and horizons 100 feet below the stratigraphic equivalent of the deepest depth producing or capable of producing Minerals in paying quantities, in each well which is included within the boundaries of such proration unit. After the expiration of the Primary Term, as extended if applicable, (i) Lessee shall release all of the Leased Premises not otherwise held hereunder, and (ii) this Lease as to each pooled unit or proration unit held by a producing well shall be considered a separate Lease from the lease covering any other such pooled unit or proration units, so that this Lease shall, thereafter, as to each such pooled unit or proration unit, remain in force as to each such pooled unit or proration unit only so long as oil or gas is produced from such pooled unit or proration unit or the lease as to such pooled unit or proration unit is maintained in force under some other provision o f this Lease and (iii) if the deepest depth pr...
Sample 1
Extension of Primary Term. Sections 1.01(f) and 3.01 of the Lease are hereby modified to provide that the Primary Term of the Lease shall be extended through and including March 31, 2014 on the same terms and conditions as the Lease as modified by this Agreement. Section 1.01(h) of the Lease is hereby modified to provide that the Expiration Date of the Lease shall be March 31, 2014.
Sample 1
Extension of Primary Term. Lessee, so long as it shall not be in default ------------------------- under the terms and provisions of this Lease, and so long as it is not already producing from the Subject Premises in Commercial Quantities as defined in Article VI shall have the exclusive right, privilege and option to extend the Primary Term for an additional term of five (5) years. Written notice of Lessee's intent to extend the Primary Term shall be given by Lessee to Lessors at least sixty (60) days prior to the expiration of the initial ten-year Primary Term.
Sample 1
Extension of Primary Term. Subtenant hereby exercises its option to extend the term of the Sublease pursuant to Section 27 of the Sublease for an additional term (“Extension Term”) commencing September 1, 2007, and expiring August 31, 2012. Sublandlord hereby acknowledges and accepts Subtenant’s exercise of its option to extend the term as being timely and in accordance with the requirements of the Sublease.
Sample 1

Related to Extension of Primary Term

  • Extension of Agreement Prior to the original expiration date of this Agreement, the Parties mutually agree to extend this Agreement to the February 15 extension date identified in Paragraph VIII(A). The Parties acknowledge that no further extensions of this Agreement are authorized.

  • EXTENSION OF USE The Contract may be extended to additional States or governmental jurisdictions upon mutual written agreement between New York State (the lead contracting State) and the Contractor. Political subdivisions and other authorized entities within each participating State or governmental jurisdiction may also participate in the Contract if such State normally allows participation by such entities. New York State reserves the right to negotiate additional minimum NYS Vehicle Discounts based on any increased volume generated by such extensions.

  • Extension of the Term At least two months prior to the third anniversary of the Effective Date, the Parties will evaluate the effectiveness of this Agreement and decide whether to extend the Term.

  • Extension of Lease Term The Original Lease Term is hereby extended for a period of eighteen (18) months continuing through and including November 30, 2022 (the “Extension Term” and the Original Lease Term as so extended by the Extension Term, the “Lease Term”).

  • Extension of Probationary Period III.10.3.5.1 Notwithstanding the various provisions above which define a maximum period of probationary service, a member who has had a pregnancy leave during her probationary period under IV.13.6.2

  • Extension of Initial Contract Period 31.1 Subject to clause 13 (Price Adjustment on Extension of the Initial Contract Period), the Authority may, by giving written notice to the Contractor not less than three (3) Month(s) prior to the last day of the Initial Contract Period, extend the Contract for such further period as may be specified in the notice. The provisions of the Contract will apply (subject to any Variation or adjustment to the Contract Price pursuant to clause 13) throughout any such extended period.

  • Extension of Services Upon written notice by Recipient to Provider at least sixty (60) days prior to the end of the applicable Service Period for any Service (unless the Schedules hereto specify that such Service is not eligible for extension), Recipient shall have the right to request that Provider extend the Service Period of any Service so that such Service ends on the earlier of (a) ninety (90) days following the last date on which Service Provider is obligated to provide such Service in accordance with the terms of this Agreement and (b) the Term (each such extension, a “Service Extension”). If Provider agrees to provide such Service during the requested Service Extension period, then (i) the Parties shall in good faith negotiate the terms of an amendment to the Schedules hereto, which amendment shall be consistent with the terms of the applicable Service; and (ii) the Charge for such Service during the Service Extension period shall be equal to one hundred twenty five percent (125%) of the Charge for such Service plus all costs, fees and expenses unless otherwise specified with respect to a particular Service on the Schedules hereto, or in the other Ancillary Agreements, payable by Provider or its Subsidiaries to a Third Party to the extent resulting from such Service Extension (to the extent not already included in such Charge); provided that, if such Service Extension is the result of Provider’s failure to provide the Service during the applicable Service Period (the amount of time that Service Provider so failed to provide such Service, the “Service Suspension Period”), then the Charge for such Service during the Service Extension period shall be equal to (x) one hundred percent (100%) of the Charge for such Service, for a number of days equal to the Service Suspension Period and (y) one hundred twenty five percent (125%) of the Charge for such Service plus all costs, fees and expenses unless otherwise specified with respect to a particular Service on the Schedules hereto, or in the other Ancillary Agreements, payable by Provider or its Subsidiaries to a Third Party to the extent resulting from such Service Extension (to the extent not already included in such Charge), for the remaining days of the Service Extension period, if any. Notwithstanding the foregoing, the Service Period of any particular Service (1) may not be extended more than once and (2) may not be extended later than the Term. Each amendment of the Schedules hereto, as agreed to in writing by the Parties, shall be deemed part of this Agreement as of the date of such agreement and any Services provided pursuant to such Service Extensions shall be deemed “Services” provided under this Agreement, in each case subject to the terms and conditions of this Agreement.

  • Termination of Prior Agreement Upon the effectiveness of this Agreement, the Prior Agreement shall terminate and be of no further force and effect, and shall be superseded and replaced in its entirety by this Agreement.

  • Expiration and Extension of the Offer (i) Unless the Offer is extended pursuant to and in accordance with this Agreement, the Offer shall expire at midnight, New York Time, on the date that is twenty (20) Business Days after the date the Offer is first commenced (within the meaning of Rule 14d-2 promulgated under the Exchange Act) (as such date and time may be extended, the “Expiration Time”). In the event that the Offer is extended pursuant to and in accordance with this Agreement, then the Offer shall expire on the date and at the time to which the Offer has been so extended. (ii) Notwithstanding the provisions of Section 2.1(d)(i) or anything to the contrary set forth in this Agreement: (A) Acquisition Sub shall extend the Offer for any period required by any Law or Order, or any rule, regulation, interpretation or position of the SEC or its staff or NASDAQ, in any such case that is applicable to the Offer; (B) in the event that any of the conditions to the Offer set forth on Annex A, other than the Minimum Condition, are not satisfied or waived (if permitted hereunder) as of any then scheduled expiration of the Offer, Acquisition Sub shall extend the Offer for successive extension periods of ten (10) Business Days each (or any longer period as may be approved in advance by the Company) in order to permit the satisfaction of all of the conditions to the Offer; and (C) in the event that all of the conditions to the Offer set forth on Annex A have been satisfied or waived (if permitted hereunder), except that the Minimum Condition has not been satisfied, as of any then scheduled expiration of the Offer, Acquisition Sub shall extend the Offer for an extension period of ten (10) Business Days (or any longer period as may be approved in advance by the Company), it being understood and agreed that Acquisition Sub shall not be required to extend the Offer pursuant to this clause (C) on more than two (2) occasions, but may, in its sole discretion, elect to do so; provided, however, that the foregoing clauses (A), (B) or (C) of this Section 2.1(d)(ii) shall not be deemed to impair, limit or otherwise restrict in any manner the right of the parties to terminate this Agreement pursuant to the terms of Article IX, and in no event shall Acquisition Sub be required to extend the Offer beyond the Termination Date. (iii) Neither Parent nor Acquisition Sub shall extend the Offer in any manner other than pursuant to and in accordance with the provisions of Section 2.1(d)(ii) without the prior written consent of the Company. (iv) Neither Parent nor Acquisition Sub shall terminate or withdraw the Offer prior to the then scheduled expiration of the Offer unless this Agreement is validly terminated in accordance with Article IX, in which case Acquisition Sub shall (and Parent shall cause Acquisition Sub to) irrevocably and unconditionally terminate the Offer promptly (but in no event more than one (1) Business Day) after such termination of this Agreement.

  • Modification, Extension and Renewal of Options The Board or a duly appointed committee thereof, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Code and applicable securities laws. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Recipient, alter to the Recipient’s detriment or impair any rights of Recipient hereunder.