Final Relinquishment Sample Clauses

Final Relinquishment. 7.2.1 Subject to sub-clause 6.7.8, the Contractor shall, at the expiry of the final Exploration Period, relinquish all of the Contract Area other than such part thereof as is the Development Area. 7.2.2 Except with the consent of the SPA, the Development Area shall be deemed to be relinquished on the earlier of: 7.2.2.1 Production from the Development Area ceasing permanently or for a continuous period of twelve (12) months (or, if because of Force Majeure, twenty-four (24) months or such longer period as determined by the Federal Government, in consultation with the Contractor); and 7.2.2.2 the expiry of the Development and Production Period.
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Final Relinquishment. (a) At the term of the final Contract Year of the third Exploration Period, Contractor shall relinquish the whole Contract Area, except for those portions of the Contract Area that have been declared as Development Areas. (b) If at the term of the final Contract Year of the third Exploration Period the Contractor, having undertaken all reasonable and necessary efforts in accordance with the Decree-Law and this Contract, has not had sufficient time to carry out the Appraisal of a Discovery, the deadline for Contractor to comply with the obligation set forth in Article 3.3(a) above may be extended by ANPM, in writing, subject to the conditions provided for in Article 27.2 of the Decree-Law. (c) In case Contractor fails to submit to ANPM any information the latter may require in order to make a decision pursuant to this Article 3.3, the whole Contract Area shall be deemed as relinquished at the term of the last Contract Year of the third Exploration Period.
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Final Relinquishment. On the expiry date of the third stage, the Concessionaire must relinquish the remaining areas of the Contract Area, except the areas where there is an economic mineral deposits and are defined as target areas for mineral resources development under this Agreement.
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Final Relinquishment. (a) Unless the Commissioner determines otherwise, the Development and Production Area shall be deemed to be relinquished on the earlier of: (b) Production from the Development and Production Area ceasing permanently or for a continuous period of twelve (12) months (or, if because of a Force Majeure Event, sixty (60) months, or such longer period as determined by the Minister, in consultation with the Licensee); or (c) the expiry of the Development and Production Period.
Sample 1
Final Relinquishment. (a) At the term of the final Contract Year of the third Exploration Period, Contractor shall relinquish the whole Contract Area, except for those portions of the Contract Area that have been declared as Development Areas. (b) If at the term of the final Contract Year of the third Exploration Period the Contractor, having undertaken all reasonable and necessary efforts in accordance with the Applicable Law in Timor-Leste and this Contract, has not had sufficient time to carry out the Appraisal of a Discovery, the deadline for Contractor to comply with the obligation set forth in Article 3.3(a) above may be extended by ANPM, in writing, subject to the following conditions: (i) the extension shall only apply to the portion of the Contract Area ANPM may consider to be reasonably necessary for the Appraisal of the Discovery in accordance with Contractor’s proposal; and (ii) the extension shall have the duration ANPM may deem as reasonably necessary to allow the Appraisal of the Discovery and for Contractor to decide whether or not it should declare a Commercial Discovery or ANPM should approve a Development Area, as the case may be. (c) In case Contractor fails to submit to ANPM any information the latter may require in order to make a decision pursuant to this Article 3.3, the whole Contract Area shall be deemed as relinquished at the term of the last Contract Year of the third Exploration Period.
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Related to Final Relinquishment

  • Relinquishment Should the Charter Holder choose to relinquish its Charter before the expiration of this Certificate, it may do so upon written notice to the Authorizer. In such a case, the Authorizer’s closure protocol shall begin immediately following written notification.

  • Other Breach Under Agreement Borrower fails to meet the conditions of, or fails to perform any obligation under, any term of this Agreement not specifically referred to above.

  • Waiver by Tenant Tenant expressly waives the benefits of any statute now or hereafter in effect which would otherwise afford the Tenant the right to make repairs at Landlord's expense or to terminate this Lease because of Landlord's failure to keep the Premises in good order, condition and repair.

  • Breach by Lessor Lessor shall not be deemed in breach of this Lease unless Lessor fails within a reasonable time to perform an obligation required to be performed by Lessor. For purposes of this Paragraph 13.5, a reasonable time shall in no event be less than thirty (30) days after receipt by Lessor, and by any Lender(s) whose name and address shall have been furnished to Lessee in writing for such purpose, of written notice specifying wherein such obligation of Lessor has not been performed; provided, however, that if the nature of Lessor's obligation is such that more than thirty (30) days after such notice are reasonably required for its performance, then Lessor shall not be in breach of this Lease if performance is commenced within such thirty (30) day period and thereafter diligently pursued to completion.

  • Breach of Lease H If the Academy Trust is, or if it is reasonably foreseeable that it will be, in material breach of the Lease, the Academy Trust must immediately give written notice to the Secretary of State stating what the breach is and what action the Academy Trust has taken or proposes to take to remedy it, including timescales where appropriate.

  • Other Breaches The breach by such Borrower (other than a breach which constitutes a Default with respect to such Borrower under another Section of this Article VII) of any of the terms or provisions of this Agreement which is not remedied within 15 days (or, in the case of Section 6.9, five Business Days) after the chief executive officer, the chief financial officer, the President, the Treasurer or any Assistant Treasurer of such Borrower obtains actual knowledge of such breach.

  • CONSEQUENCES OF EARLY TERMINATION OR OTHER BREACH BY APPLICANT A. In the event that the Applicant terminates this Agreement without the consent of the District, except as provided in Section 7.1 of this Agreement, the Applicant shall pay to the District liquidated damages for such failure within thirty (30) days after receipt of the notice of breach. B. In the event that the District determines that the Applicant has failed to comply in any material respect with the terms of this Agreement or to meet any material obligation under this Agreement, the Applicant shall pay to the District liquidated damages, as calculated by Section 9.4.C, prior to, and the District may terminate the Agreement effective on the later of: (i) the expiration of the thirty (30) days provided for in Section 9.3.A, and (ii) thirty (30) days after any mediation and judicial proceedings initiated pursuant to Sections 9.3.A and 9.3.B are resolved in favor of the District. C. The sum of liquidated damages due and payable shall be the sum total of the District ad valorem taxes for all of the Tax Years for which a tax limitation was granted pursuant to this Agreement prior to the year in which the default occurs that otherwise would have been due and payable by the Applicant to the District without the benefit of this Agreement, including penalty and interest, as calculated in accordance with Section 9.4.

  • WAIVER OR BREACH It is agreed that a waiver by either party of a breach of any provision of this Agreement shall not operate, or be construed, as a waiver of any subsequent breach by that same party.

  • No Waiver by Landlord No delay or forbearance by Landlord in exercising any right or remedy hereunder, or Landlord’s undertaking or performing any act or matter which is not expressly required to be undertaken by Landlord shall be construed, respectively, to be a waiver of Landlord’s rights or to represent any agreement by Landlord to undertake or perform such act or matter thereafter. Waiver by Landlord of any breach by Tenant of any covenant or condition herein contained (which waiver shall be effective only if so expressed in writing by Landlord) or failure by Landlord to exercise any right or remedy in respect of any such breach shall not constitute a waiver or relinquishment for the future of Landlord’s right to have any such covenant or condition duly performed or observed by Tenant, or of Landlord’s rights arising because of any subsequent breach of any such covenant or condition nor bar any right or remedy of Landlord in respect of such breach or any subsequent breach. Landlord’s receipt and acceptance of any payment from Tenant which is tendered not in conformity with the provisions of this Lease or following an Event of Default (regardless of any endorsement or notation on any check or any statement in any letter accompanying any payment) shall not operate as an accord and satisfaction or a waiver of the right of Landlord to recover any payments then owing by Tenant which are not paid in full, or act as a bar to the termination of this Lease and the recovery of the Premises because of Tenant’s previous default.

  • WAIVER OF DEFAULT OR BREACH 7 Waiver by COUNTY of any default by CONTRACTOR shall not be considered a waiver of any 8 subsequent default. Waiver by COUNTY of any breach by CONTRACTOR of any provision of this 9 Agreement shall not be considered a waiver of any subsequent breach. Waiver by COUNTY of any 10 default or any breach by CONTRACTOR shall not be considered a modification of the terms of this 11 Agreement. 12 // 13 // 14 // 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // 36 // 37 //

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