Future Third-Party Generated Project Areas Sample Clauses

Future Third-Party Generated Project Areas. (a) If during the term of this Agreement a third-party offers BOG the opportunity to participate in an oil and gas exploration project within the AMI which (i) was not previously identified or generated by BOG, (ii) includes the conduct of 3-D Operations and (iii) either (x) includes terms under which BOG will acquire the interest in the project subject to a promote or carry of any kind (in whole or in part and whether temporary or permanent) or (y) includes terms under which BOG will acquire less than all of the working interest and/or ownership interest (other than royalties or retained overriding royalties) in the lands covered by the project (each such project which meets all of (i), (ii) and (iii) above to be hereinafter referred to as "Future Third-Party Project Areas") and BOG desires to participate in such Future Third-Party Project Area, then BOG shall notify Participant of the terms of such offer. Participant must notify BOG in writing within fifteen (15) days of its receipt of such notice as to whether Participant shall participate in the Future Third-Party Project Area; provided, however, that in the event that Participant fails to notify BOG in writing of its election prior to the expiration of such fifteen (15) day period, Participant shall be deemed to have elected not to participate in the Future Third-Party Project Area. In the event that Participant either elects, or is deemed to have elected, not to participate in the Future Third-Party Project Area, such Future Third-Party Project Area shall be deemed to be excluded from the AMI and all of the terms of this Agreement (hereinafter referred to as an "Excluded Future Third-Party Project Area") and BOG shall not be obligated to include Participant in any exploration and/or development operations conducted within such Excluded Future Third-Party Project Area.
Sample 1
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Future Third-Party Generated Project Areas. 3 Section 2.7. Excluded BOG Producing Property Project Areas. 4 Section 2.8. Other Acquisition of Producing Properties. 5 ARTICLE III.
Sample 1

Related to Future Third-Party Generated Project Areas

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  • Development of the Project The Board of Managers shall take such actions as shall be required to cause either the Company or the Management Company (as defined in Section 9(b) below) to perform and complete the construction and other development work as contemplated and/or required under the NVR Purchase and Sale Agreements, or any other construction company selected by the Board of Managers (the “Development Work”), substantially in accordance with the Project Plan, at a cost to the Company not exceeding the total cost set forth in the Budget, in a manner consistent with this Agreement and all applicable laws, ordinances, rules, regulations or requirements (including, without limitation, those with respect to discrimination) of governmental authorities, and in compliance with any covenants, conditions or restrictions affecting all or any portion of the Property.

  • Development Costs With respect to activities prior to the Amendment Effective Date, each Party was to pay [*] of the total Direct Development Costs of a Product incurred in accordance with the Development Budget (as defined in the Original Agreement). Notwithstanding anything in this Article 6 of this Agreement or in any other provision of this Agreement to the contrary, with respect to activities on and after the Amendment Effective Date, subject to Sections 3.1.2, Alimera will be solely responsible for, and shall pay one hundred percent (100%) of, all development costs of a Product, including Direct Development Costs. Notwithstanding anything in this Article 6 of this Agreement or in any other provision of this Agreement to the contrary, (i) all payments owing by CDS hereunder with respect to development activities prior to the Amendment Effective Date are hereby deemed fully paid by CDS (or waived, to the extent such waiver may be required), including any Development Payments, Compounded Development Payments, Determined Disputed Costs and Compounded Disputed Costs (as all defined in the Original Agreement), further including any penalties and interest which might have accrued with respect thereto, and further including all CDS payments deferred pursuant to that February 11, 2008 letter agreement sent by CDS and executed by CDS and Alimera regarding deferral of payments under the Original Agreement as of such date; (ii) all payments owing by Alimera hereunder with respect to development activities prior to the Amendment Effective Date are hereby deemed fully paid by Alimera (or waived, to the extent such waiver may be required), including any Development Payments, Compounded Development Payments, Determined Disputed Costs and Compounded Disputed Costs (as all defined in the Original Agreement), and further including any penalties and interest which might have accrued with respect thereto; and (iii) subject to Sections 3.1.1 and 3.1.2, from and after the Amendment Effective Date, CDS will have no liability whatsoever hereunder for any past, present or future development costs, including Direct Development Costs (which includes those incurred before, on and after the Amendment Effective Date), and instead Alimera shall have sole liability therefor.

  • Premises and Common Areas 3 3. TERM .................................................................5 4. POSSESSION ...........................................................5 5.

  • Additional Improvements Common Area Operating Expenses shall not include Real Property Taxes specified in the tax assessor's records and work sheets as being caused by additional improvements placed upon the Industrial Center by other lessees or by Lessor for the exclusive enjoyment of such other lessees. Notwithstanding Paragraph 10.1 hereof, Lessee shall, however, pay to Lessor at the time Common Area Operating Expenses are payable under Paragraph 4.2, the entirety of any increase in Real Property Taxes if assessed solely by reason of Alterations, Trade Fixtures or Utility Installations placed upon the Premises by Lessee or at Lessee's request.

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