North Slope Pad Sample Clauses

North Slope Pad. IGU covenants to use the North Slope Pad, any revenues derived from the North Slope Pad that are net of the costs of operating and maintaining the North Slope Pad, and the proceeds received from the sale or other disposition of the North Slope Pad net of the cost of selling or disposing of the North Slope Pad only for the following purposes and no other purposes: to advance an Alaska liquefied natural gas production plant, and distribution systems as necessary to serve Interior Alaska as a primary market.
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North Slope Pad. Within fifteen working days after the Effective Date, AIDEA shall apply to the Alaska Department of Natural Resources for approval of: (1) the transfer of the North Slope Pad Right-of-Way Lease from AIDEA to IGU; (2) the transfer of AIDEA’s interest in the Material Sales Contract referenced in Section 1.31, from AIDEA to IGU; (3) amendments to the North Slope Pad Right-of-Way Lease expanding the purposes for which the subject property may be used to include general industrial, commercial, business, and oil & gas related uses consistent with those permitted under Alaska Department of Natural Resources leases in the Deadhorse area; and (4) any subleases of the North Slope Pad Right-of-Way Lease, or any portion thereof, the negotiation of which was commenced prior to the Closing. IGU shall cooperate with AIDEA in its efforts to seek such approvals from the Alaska Department of Natural Resources.
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