Final Relinquishment of Exploration Area. (a) At the end of the seventh (7th) Contract Year, the Contractor shall relinquish all of the Contract Area other than such part thereof as is a Development Area.
Final Relinquishment of Exploration Area a) The Contractor shall, at the expiry of the Exploration Period, relinquish all of the Contract Area other than such part thereof as is an Exploitation Area.
Final Relinquishment of Exploration Area. At the end of the seventh (7th) Contract Year, the Contractor shall relinquish all of the Contract Area other than such part thereof as is a Development Area. If, at the end of the seventh (7th) Contract Year, a Discovery has been made but there has been insufficient time for the Contractor (acting, and having acted, in accordance with this Agreement) to Appraise it, the obligation of the Contractor under Section 3.2 shall be postponed: for such area as the Contractor may propose and the Ministry may determine to be reasonably necessary for Appraisal of the Discovery; for such period as is reasonably necessary to permit the Contractor to Appraise (or to complete the Appraisal of) the Discovery; and as a consequence of that Appraisal, for the Contractor to decide whether to declare a Commercial Discovery and, if it does so, for the Ministry to declare a Development Area in respect of it.
