Financing of Development Costs of GNPC’s Additional Participation Sample Clauses

Financing of Development Costs of GNPC’s Additional Participation. The Ghana-AGM Agreement provides GNPC the option to take additional participating interest of 15% upon commercial discovery of oil and which shall be responsible for financing the development costs relative to this interest. However, GNPC can elect to have the Contractor advance up to 50% of the total proportionate share of the development cost for financing the additional interest. Contrarily, the Cola Agreement provides for an additional interest of 17.5% but financing advance to the GNPC shall be up to an undivided 10% of the total proportionate share of GNPC’s cost of development. This exposes AGM to more pre-production cost than Cola Natural Resources as the cost of development of a deep water block is expectedly higher. However, this depends on the size of the discovery and the program of development.
Sample 1
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Related to Financing of Development Costs of GNPC’s Additional Participation

  • Project Costs Simultaneously with the execution of this Agreement, the Company shall disclose to the Department all of the Project Costs which the Company seeks to include for purposes of determining the limitation of the amount of the Credit pursuant to Section 5-30 of the Act and provide to the Department a Schedule of Project Costs in the form as attached hereto as Exhibit C.

  • Indirect Costs If indirect costs are charged, the Subrecipient will develop an indirect cost allocation plan for determining the appropriate Grantee share of administrative costs and shall submit such plan to the Grantee for approval.

  • Construction Development of the Project The Allottee has seen the proposed layout plan/demarcation-cum-zoning/sanctioned plans, / site plan / building plan, specifications, amenities and facilities, etc. depicted in the advertisement / brochure / agreement / website (as the case may be) regarding the Project where the Said Independent Floor for residential usage along with parking is located and has accepted the floor / site plan, Payment Plan and the specifications, amenities, facilities, etc. [annexed along with this Agreement] which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the bye-laws such as Haryana Building Code, 2017, FAR, density norms, provisions prescribed, approved plans, terms and condition of the license/ allotment as well as registration of RERA, etc. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent authorities and shall also strictly abide by the provisions and norms prescribed by the relevant State laws and shall not have an option to make any variation/ alteration/ modification in such plans, other than in the manner provided under the Act and Rules made thereunder or as per approvals/instructions/ guidelines of the competent authorities, and any breach of this term by the Promoter shall constitute a material breach of the Agreement.

  • Development of the Project 4.1 TSP's obligations in development of the Project: Subject to the terms and conditions of this Agreement, the TSP at its own cost and expense shall observe, comply with, perform, undertake and be responsible:

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