General Conditions Applicable to Natural Gas Sample Clauses

General Conditions Applicable to Natural Gas. (a) Subject to the Government’s election to take its production in kind and reserving its rights to market its own production, the Parties may agree in writing (where such agreement shall be considered a part of this Agreement,) on such terms and conditions to be determined by friendly negotiations but not inconsistent with the bases for the development and full utilization of any Natural Gas Fields within the Contract Area, in accordance with the international petroleum practices. Subject to any such written agreement, Contractor shall have the sole responsibility for marketing all the available Natural Gas from the Contract Area and for negotiating for the sale thereof on a joint basis at fair market prices and terms common to both the Minister and the Contractor in accordance with Third Party Sales principles. The Contractor will pursue markets both within and outside Guyana and seek to market Natural Gas to the highest realization outlets after deduction of transportation costs. The Contractor will seek to recognize Natural Gas’ potential value at the international value of alternative fuels in the end user market of the buyers. (b) The Contractor shall have the right, but not the obligation, to process Natural Gas for conversion to liquids, chemicals or similar gas utilisation projects and Contractor shall have the right to dispose of the liquids or products therefrom. The Contractor shall have the right to process Natural Gas for recovery of the liquids contained therein. Natural Gas Liquids (NGLs) recovered and sold shall be valued based upon the international value of such products as published in Platts and adjusted to reflect the fair market value of such products FOB Guyana. In addition, the Contractor shall have the right to liquefy the Natural Gas for sale as LNG and/or the right to compress the Natural Gas to accommodate sales as compressed natural gas (CNG). (c) The Contractor shall have the right to use Natural Gas, both Associated Gas and Non-Associated Gas, as may be required for Oil Field and Gas Field operations, including the right to re-inject for pressure maintenance and enhanced recovery without charge, fee or royalty. After a gas marketing alternative for Non Associated Gas has been secured, and the Natural Gas reserves indicated in the Development Plan have been allocated to a gas marketing option, or to one or more Natural Gas sale contracts, the satisfaction of the Natural Gas Domestic Supply Obligation shall not condition, prev...
Sample 1
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General Conditions Applicable to Natural Gas. (a) The Contractor shall have the primary responsibility for marketing all the available natural gas from the contract area and for negotiating for the sale thereof on a joint basis at fair market prices and terms common to both the Minister and the Contractor. The Contractor will pursue markets both within and outside Guyana and seek to market natural gas to the highest realization outlets after deduction of transportation costs. The Contractor will seek to recognize natural gas’s potential value at the international value of alternative fuels in the end user market of the buyers.-
Sample 1
General Conditions Applicable to Natural Gas. (a) The Contractor shall have the primary responsibility for marketing all the available natural gas from the contract area and for negotiating for the sale thereof on a joint basis at fair market prices and terms common to both the Minister and the Contractor. The Contractor will pursue markets both within and outside Guyana and seek to market natural gas to the highest realization outlets after deduction of transportation costs. The Contractor will seek to recognize natural gas’s potential value at the international value of alternative fuels in the end user market of the buyers.- (b) The Contractor shall have the right, but not the obligation, to process natural gas for conversion to liquids, chemicals or similar gas utilization projects and Contractor shall have the right to dispose of the liquids or products therefrom. The Contractor shall have the right to process natural gas for recovery of the liquids contained therein and such liquids sold shall be treated as crude oil. The Parties shall carry out friendly negotiations to reach
Sample 1

Related to General Conditions Applicable to Natural Gas

  • General Conditions Applicable to Option to Build If the Interconnection Customer assumes responsibility for the design, procurement and construction of the Participating TO's Interconnection Facilities and Stand Alone Network Upgrades, (1) the Interconnection Customer shall engineer, procure equipment, and construct the Participating TO's Interconnection Facilities and Stand Alone Network Upgrades (or portions thereof) using Good Utility Practice and using standards and specifications provided in advance by the Participating TO; (2) The Interconnection Customer’s engineering, procurement and construction of the Participating TO's Interconnection Facilities and Stand Alone Network Upgrades shall comply with all requirements of law to which the Participating TO would be subject in the engineering, procurement or construction of the Participating TO's Interconnection Facilities and Stand Alone Network Upgrades; (3) the Participating TO shall review, and the Interconnection Customer shall obtain the Participating TO’s approval of, the engineering design, equipment acceptance tests, and the construction of the Participating TO's Interconnection Facilities and Stand Alone Network Upgrades, which approval shall not be unreasonably withheld, and the CAISO may, at its option, review the engineering design, equipment acceptance tests, and the construction of the Participating TO's Interconnection Facilities and Stand Alone Network Upgrades; (4) prior to commencement of construction, the Interconnection Customer shall provide to the Participating TO, with a copy to the CAISO for informational purposes, a schedule for construction of the Participating TO's Interconnection Facilities and Stand Alone Network Upgrades, and shall promptly respond to requests for information from the Participating TO; (5) at any time during construction, the Participating TO shall have the right to gain unrestricted access to the Participating TO's Interconnection Facilities and Stand Alone Network Upgrades and to conduct inspections of the same; (6) at any time during construction, should any phase of the engineering, equipment procurement, or construction of the Participating TO's Interconnection Facilities and Stand Alone Network Upgrades not meet the standards and specifications provided by the Participating TO, the Interconnection Customer shall be obligated to remedy deficiencies in that portion of the Participating TO's Interconnection Facilities and Stand Alone Network Upgrades; (7) the Interconnection Customer shall indemnify the CAISO and Participating TO for claims arising from the Interconnection Customer's construction of the Participating TO's Interconnection Facilities and Stand Alone Network Upgrades under the terms and procedures applicable to Article 18.1

  • General Conditions Applicable to Insurance All policies of insurance required by this section shall comply with the following requirements:

  • Conditions Applicable to Insurance All policies of insurance required by this solicitation or any Contract resulting from this solicitation must meet the following requirements:

  • General Conditions (i) Each party will make each payment or delivery specified in each Confirmation to be made by it, subject to the other provisions of this Agreement. (ii) Payments under this Agreement will be made on the due date for value on that date in the place of the account specified in the relevant Confirmation or otherwise pursuant to this Agreement, in freely transferable funds and in the manner customary for payments in the required currency. Where settlement is by delivery (that is, other than by payment), such delivery will be made for receipt on the due date in the manner customary for the relevant obligation unless otherwise specified in the relevant Confirmation or elsewhere in this Agreement. (iii) Each obligation of each party under Section 2(a)(i) is subject to (1) the condition precedent that no Event of Default or Potential Event of Default with respect to the other party has occurred and is continuing, (2) the condition precedent that no Early Termination Date in respect of the relevant Transaction has occurred or been effectively designated and (3) each other applicable condition precedent specified in this Agreement.

  • General Conditions; Definitions 1.01. The General Conditions (as defined in the Appendix to this Agreement) constitute an integral part of this Agreement. 1.02. Unless the context requires otherwise, the capitalized terms used in this Agreement have the meanings ascribed to them in the General Conditions or in the Appendix to this Agreement.

  • General Provisions Applicable to Loans Section 6.1 Minimum Amounts for Committed Borrowings, Conversions or Continuations and Prepayments.

  • Conditions Applicable to All Sale and Purchase Transactions (a) Any transaction effected under this Article XII or in connection with the acquisition, disposition or substitution of any Asset shall be conducted on an arm’s length basis and, if effected with an Affiliate of the Collateral Manager (or with an account or portfolio for which the Collateral Manager or any of its Affiliates serves as investment adviser), shall be effected in accordance with the requirements of Section 5 of the Collateral Management Agreement on terms no less favorable to the Issuer than would be the case if such Person were not an Affiliate of the Collateral Manager; provided that the Trustee shall have no responsibility to oversee compliance with this clause (a) by the other parties. Any sale of a Collateral Obligation or an Equity Security (other than a Substitute Collateral Obligation) to the Collateral Manager, an Affiliate of the Collateral Manager or an Affiliate of the Issuer shall be at a purchase price at least equal to the current Fair Market Value of such Collateral Obligation or Equity Security and certified by the Collateral Manager to the Trustee. (b) Upon any acquisition of a Collateral Obligation pursuant to this Article XII, all of the Issuer’s right, title and interest to the Asset or Assets shall be Granted to the Trustee pursuant to this Indenture, such Asset or Assets shall be Delivered to the Custodian, and, if applicable, the Custodian shall receive such Asset or Assets. The Trustee shall also receive, not later than the Cut-Off Date, an Officer’s certificate of the Issuer containing the statements set forth in Section 3.1(a)(viii); provided that such requirement shall be satisfied, and such statements shall be deemed to have been made by the Issuer, in respect of such acquisition by the delivery to the Trustee of a trade ticket in respect thereof that is signed by a Responsible Officer of the Collateral Manager. (c) Notwithstanding anything contained in this Article XII or Article V to the contrary, in addition to the rights described herein, the Issuer shall have the right to effect any sale of any Asset or purchase of any Collateral Obligation and ORCC shall have the right to exercise any optional purchase or substitution rights with the consent of Holders evidencing at least 75% of the Aggregate Outstanding Amount of each Class of Securities (and notice to the Trustee and the Rating Agency). (d) Notwithstanding anything contained in this Article XII or Article V to the contrary, upon the occurrence and during the continuance of an Enforcement Event, the Issuer shall not have the right to effect any sale of any Asset or purchase of any Collateral Obligation and ORCC shall not exercise any optional purchase or substitution rights, in each case without the consent of a Majority of the Controlling Class.

  • Provisions Applicable to Certain Agreements The provisions in this section are applicable only to the types of orders specified in the first sentence of each subsection. If this Agreement is not of the type described in the first sentence of a subsection, then that subsection does not apply to the Agreement.

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