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. (b) In the event that Participant elects to participate in a Future Third-Party Project Area and BOG is not required to provide geophysical expertise or support for the 3-D Operations to be conducted within the Future Third-Party Project Area, Participant shall pay its heads-up share (being 31.25%) of all costs, expenses or consideration that BOG is required to pay pursuant to the terms under which such Third-Party Project Area is offered. In such event, Participant shall pay its heads-up share of all of such costs, expenses and consideration on or before the date on which such payment is due pursuant to the terms of participation which...
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

  • Project 3.01. The Recipient declares its commitment to the objectives of the Project. To this end, the Recipient shall carry out the Project in accordance with the provisions of Article IV of the General Conditions.

  • Project Work Plan The Statement of Work is the formal document incorporated into the Grant. The Project Work Plan documents how the Grantee will achieve the performance measures outlined in the Grant. Changes to the Statement of Work require an amendment. Project Work Plans may be changed with written approval from PEI and the Grantee.

  • Research Project The findings of any research project, which would change the provisions of this Agreement will not be implemented until such changes are negotiated and agreed to by the parties.

  • Project Work PURCHASER shall complete the following projects in accordance with the specifications provided in Exhibits B, C, D, E, and F and written instructions from STATE. Project locations are shown on Exhibit A unless otherwise described. PURCHASER shall furnish all material unless otherwise specified.

  • Needs Improvement the Educator’s performance on a standard or overall is below the requirements of a standard or overall, but is not considered to be unsatisfactory at this time. Improvement is necessary and expected.

  • Project Site The “Project Site” is the place where the Work is being carried on.

  • Projects There shall be a thirty (30) km free zone around the projects excluding the Metro Vancouver Area. For local residents, kilometers shall be paid from the boundary of the free zone around the project. Workers employed by any contractor within an identified free zone who resides outside of that same free zone will be paid according to the Kilometer Chart from the project to their residence less thirty

  • Development Work The Support Standards do not include development work either (i) on software not licensed from CentralSquare or (ii) development work for enhancements or features that are outside the documented functionality of the Solutions, except such work as may be specifically purchased and outlined in Exhibit 1. CentralSquare retains all Intellectual Property Rights in development work performed and Customer may request consulting and development work from CentralSquare as a separate billable service.

  • Development Activities The Development activities referred to in item “b” of paragraph 3.1 include: studies and projects of implementation of the Production facilities; drilling and completion of the Producing and injection xxxxx; and installation of equipment and vessels for extraction, collection, Treatment, storage, and transfer of Oil and Gas. The installation referred to in item “c” includes, but is not limited to, offshore platforms, pipelines, Oil and Gas Treatment plants, equipment and facilities for measurement of the inspected Production, wellhead equipment, production pipes, flow lines, tanks, and other facilities exclusively intended for extraction, as well as oil and gas pipelines for Production Outflow and their respective compressor and pumping stations.

  • Selection of Subcontractors, Procurement of Materials and Leasing of Equipment The contractor shall not discriminate on the grounds of race, color, religion, sex, national origin, age or disability in the selection and retention of subcontractors, including procurement of materials and leases of equipment. The contractor shall take all necessary and reasonable steps to ensure nondiscrimination in the administration of this contract. a. The contractor shall notify all potential subcontractors and suppliers and lessors of their EEO obligations under this contract. b. The contractor will use good faith efforts to ensure subcontractor compliance with their EEO obligations.

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