Common use of Extension of the Production Period Clause in Contracts

Extension of the Production Period. At THE CONTRACTOR’s choice, XXX will extend the Production Period for successive periods of up to ten (10) years and up to the economic limit of the Commercial Field, provided that the following conditions are met for each period:

Extension of the Production Period. At THE CONTRACTOR’s choiceelection, the XXX will extend shall ex- tend the Production Period for successive periods of up to ten (10) years years, and up to the economic limit of the Commercial Field, provided that the following follow- ing conditions are met for each period: